The shares of India’s largest independent malt maker gained traction in the past nine days after it received the award for the best whisky in the world at the 2023 Whiskies of the World Award.
On Monday, Piccadilly Agro Industries Ltd shares soared 20 percent to an all-time high of Rs 297.55 per share from the previous close price.
The stock has gained a multibagger return of 101 percent in the last nine days ranging from Rs 148 to 297.55 a share. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 2.01 lakhs in nine days.
Recently, Piccadily Agro Industries has been awarded the ‘Best in Show, Double Gold’ title at the 2023 Whiskies of the World Awards for manufacturing of Indri Diwali Collector’s Edition 2023.
Indri Diwali Collector’s Edition 2023, an Indian Whisky, won ‘Best in Show, Double Gold’ in the 2023 Whiskies of the World Awards. In 2021, In Haryana, the company launched its whisky under the brand Indri.
The Whiskies of the World Award is one of the world’s largest whiskey-tasting competitions. Over 100 varieties of whiskey from all over the world are judged in the event, which is held annually.
The company’s sales have climbed by 24 percent yearly, growing from Rs 184 crore in Q1FY23 to Rs 228 crore in Q1FY24. Furthermore, net profit increased by 57 percent during the same time period, from Rs 7 crore to Rs 11 crore.
The stock has delivered multibagger returns of 340 percent in three months and 650 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 7.50 lakhs after a year and Rs. 4.40 lakhs after three months.
The company promoters hold a 70.97 percent stake in the company in the recent shareholding pattern and retail investors hold a 29.02 percent stake.
Piccadily Agro Inds. Ltd. is primarily engaged in the manufacturing of sugar and its by-products. The company’s product range includes white crystal sugar, molasses, and liquor.
Written by Omkar Chitnis
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