Piccadily Agro Q1 FY27 Earnings Call — Analysis (NSE: PICCADIL)
Q1 FY27 branded alco-bev revenue grew 47.3% and management reiterated ~60-70% branded growth for FY27, while company EBITDA margin improved only 30bps YoY.
Result quality: stable — Steady quarter. Management sentiment: neutral.
The take
Q1FY27 Revenue from operations ₹270.5 Cr ( +18.1% YoY ) .
Results
Q1 FY27 revenue from operations was ₹270.5 Cr (+18.1% YoY per CFO), distillery revenue ₹205.7 Cr (+26.3%), branded alco-bev ₹82.3 Cr (+47.3%), EBITDA ₹47.2 Cr (+21%, margin 18.5% vs 18.2%), PAT ₹22 Cr (+15.4%).
Financial highlights
| Metric | Value | Change | Basis |
|---|---|---|---|
| Revenue from operations | ₹270.5 Cr | +18.1% | yoy · Q1FY27 |
| Distillery revenue | ₹205.7 Cr | +26.3% | yoy · Q1FY27 |
| Branded alco-bev revenue | ₹82.3 Cr | +47.3% | yoy · Q1FY27 · premium, super premium, luxury portfolio |
| Branded alco-bev share of distillery revenue | 43.5% | +na | point_in_time · Q1FY27 · Q1FY26: 37.8% |
| Distillery share of total revenue | 76% | +na | point_in_time · Q1FY27 · Q1FY26: 71% |
| EBITDA | ₹47.2 Cr | +21% | yoy · Q1FY27 |
| EBITDA margin | 18.5% | +30bps | yoy · Q1FY27 · Q1FY26: 18.2% |
| PAT | ₹22 Cr | +15.4% | yoy · Q1FY27 |
| EPS | ₹2.21 | +10.5% | yoy · Q1FY27 |
| Chhattisgarh revenue contribution | ₹5 Cr | +na | point_in_time · Q1FY27 · ~15 days of production post commissioning |
Guidance
FY27 branded alco-bev growth guided at ~60-70% YoY and company-level revenue at ~60%, with consolidated EBITDA margin expected at 23-24%.
Key themes
Premiumization and capacity-led growth
Research and educational content only. Not investment advice.