Piccadily Agro Industries Ltd
PICCADILPiccadily Agro Industries Ltd's earnings have outrun its stock. EPS grew +28.6% in a year against a +21.2% price move.
The sharpest disagreement: profits are rising, but only 41% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is building a base (6 weeks in) while the P/E sits at the 72nd percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +12.5% year on year, and 41% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Piccadily Agro Industries Ltd trades at ₹730, building a base and 6 weeks into that stage. That is +20.9% against its own 200-day average. It sits at 100% of a 52-week range of ₹532 to ₹730. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.
Today the stock is building a base — week 6 of stage 1. At ₹730 it trades +20.9% versus its 200-day average and sits at 100% of its 52-week range (₹532–₹730).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +9,362% while the NIFTY 500 moved +266% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 72nd percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Piccadily Agro Industries Ltd trades at 52.8× P/E, at the pricey end of its own range (72nd percentile). Its long-run median P/E is 21.6×, measured across 10.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 52.8× is at the pricey end of its own range (72nd percentile), against a long-run median of 21.6× measured over 10.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +28.6% against a +21.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +104.1%/yr price move, ~+48.9%/yr came from earnings growth and ~+55.2 pp from the multiple (expanding); over 10y, of the +52.8%/yr price move, ~+31.0%/yr came from earnings growth and ~+21.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Piccadily Agro Industries Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 22.8% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +30.2% | +20.2% | +16.3% | +14.4% |
| Profit | +35.3% | +84.4% | +50.3% | +52.7% |
| EPS | +28.6% | +80.6% | +49.0% | +56.3% |
| Share price | +21.2% | +120.9% | +104.1% | +52.8% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
61.6/100 — rank 4 of 14 in Alcoholic Beverages · 83% evidence confidence
Piccadily Agro Industries Ltd scores 61.6 out of 100 against the 14 companies it is compared with in Alcoholic Beverages, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.4 + 14.6 + 10.1 + 14.5 = 61.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Piccadily Agro Industries Ltd reported ₹335 Cr of revenue in the Mar 26 quarter, +31.4% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 14.4% a year. The last full year, FY26, came in at ₹1,038 Cr. The last four reported quarters add to ₹1,037 Cr.
Piccadily Agro Industries Ltd reported ₹335 Cr of revenue in the Mar 26 quarter, +31.4% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 14.4% a year. The last full year, FY26, came in at ₹1,038 Cr. The last four reported quarters add to ₹1,037 Cr.
FY26 revenue came in at ₹1,038 Cr (+30.2% on the year), capping 10 years at 14.4% compound. The latest quarter (Mar 26) printed ₹335 Cr, +31.4% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +26.7% growth against the decade's 14.4% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +26.8% over the last 4 quarters against +15.3%/yr over the last 8 — accelerating; TTM profit +34.0% vs +12.5%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 21.0% this quarter (−5.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Piccadily Agro Industries Ltd's operating margin is 21.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0% to 23.0%. The current quarter sits inside that band.
Piccadily Agro Industries Ltd's operating margin is 21.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0% to 23.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 21.0%, −5.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 7.0%–23.0%.
🚨 Why the margin moved: operating margin went −4.4 pp year on year while gross margin went −4.4 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit +12.5% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Piccadily Agro Industries Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +12.5% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹138 Cr. The 10-year compound rate is 52.7%. That is 13.4% of the quarter's revenue. The same quarter a year earlier earned ₹40.0 Cr.
Piccadily Agro Industries Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +12.5% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹138 Cr. The 10-year compound rate is 52.7%. That is 13.4% of the quarter's revenue. The same quarter a year earlier earned ₹40.0 Cr.
Mar 26 profit was ₹45.0 Cr, +12.5% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹138 Cr (+35.3%), and the 10-year compound rate is 52.7%.
Why profit moved: revenue contributed +31.4% and the margin −5.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +37.8% vs revenue +26.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 41% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 41% of Piccadily Agro Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹118 Cr of operating cash against ₹138 Cr of profit. After ₹193 Cr of capital spending, ₹−75.0 Cr was left as free cash.
FY26: operating cash of ₹118 Cr against reported profit of ₹138 Cr, leaving free cash of ₹−75.0 Cr after ₹193 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 41% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 41%: the cash cycle stretched 226 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 226 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 305-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Piccadily Agro Industries Ltd's cash conversion cycle runs 305 days in FY26, up from 79 days in FY21. Capital spending ran ₹486 Cr over the last 3 years. At FY26 sales of ₹1,038 Cr each day of that cycle holds about ₹2.8 Cr, so roughly ₹867 Cr sits inside the business at any moment.
FY26: debtors at 85 days, inventory at 277 days — roughly 9.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 305 days, looser than FY21's 79.
The full loop: cash goes out to suppliers and production on day 0; stock waits 277 days to sell; customers pay about 85 days after that; and suppliers themselves are paid at 57 days — netting out to the 305-day cycle.
In money terms: at FY26 sales of ₹1,038 Cr, each day of the cycle holds about ₹2.8 Cr — so the 305-day loop keeps roughly ₹867 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹486 Cr over the last 3 fiscal years against ₹60.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹73.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 18% and the ROIC − WACC spread is −0.2 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Piccadily Agro Industries Ltd earns a ROCE of 18% in FY26. That is up from a trough of 6% in FY18. Return on invested capital clears the cost of that capital by −0.2 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 13.3% net margin on 0.63× asset turns.
FY26 ROCE is 18%, recovered from a FY18 trough of 6% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 13.3% net margin × 0.63× asset turns × 1.82× balance-sheet leverage ≈ 15.2% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 11.8% − 12.0% = a −0.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.59.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Piccadily Agro Industries Ltd carries total debt of ₹531 Cr against shareholder equity of ₹901 Cr as of Mar 26, a debt-to-equity of 0.59. On the annual view that ratio went from 0.68 in FY21 to 0.59 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹531 Cr against shareholder equity of ₹901 Cr — a debt-to-equity of 0.59. On the annual view, debt-to-equity went from 0.68 (FY21) to 0.59 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 2.4 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 2.4 points of Piccadily Agro Industries Ltd over 8 quarters, the biggest move on the register. That takes promoters to 68.6% of the company. Domestic institutions moved +0.8 points over the same window, to 0.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −2.4 points over 8 quarters to 68.6%; Domestic institutions: +0.8 points over 8 quarters to 0.9%; Foreign institutions: +0.6 points over 8 quarters to 0.8%.
🚨 Why the register moved: promoters drove it (−2.4 points), absorbed on the other side by domestic institutions (+0.8 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Piccadily Agro Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Piccadily Agro Industries Ltd this page | 52.8× | ₹7,267 Cr | Turning around | |||
| United Spirits Ltd | 57.6× | ₹1.1L Cr | Consistent | |||
| Radico Khaitan Ltd | 89.2× | ₹54,816 Cr | Mixed | |||
| United Breweries Ltd | 108.0× | ₹36,980 Cr | Mixed | |||
| Allied Blenders & Distillers Ltd | 77.8× | ₹17,363 Cr | No read | |||
| Tilaknagar Industries Ltd | 43.2× | ₹10,933 Cr | Mixed | |||
| India Glycols Ltd | 26.4× | ₹7,760 Cr | Mixed | |||
| Globus Spirits Ltd | 25.5× | ₹2,560 Cr | Turning around | |||
| G M Breweries Ltd | 15.0× | ₹2,066 Cr | Turning around | |||
| Associated Alcohols & Breweries Ltd | 20.0× | ₹1,649 Cr | Mixed | |||
| Som Distilleries & Breweries Ltd | 106.0× | ₹1,515 Cr | Deteriorating | |||
| Sula Vineyards Ltd | 46.7× | ₹1,265 Cr | Turning around | |||
| IFB Agro Industries Ltd | 16.3× | ₹932 Cr | No read | |||
| Jagatjit Industries Ltd | 59.9× | ₹599 Cr | No read |
Frequently asked questions
What is Piccadily Agro Industries Ltd's share price today?
Piccadily Agro Industries Ltd trades at ₹730, +21.2% over the past year. The company is valued at ₹7,267 Cr. The stock sits at 100% of its 52-week range of ₹532–₹730, +20.9% versus its 200-day average. On the tape, the price is building a base, 6 weeks in. — as of 24 July 2026.
What were Piccadily Agro Industries Ltd's latest quarterly results?
Piccadily Agro Industries Ltd reported revenue of ₹335 Cr and net profit of ₹45.0 Cr for the Mar 26 quarter. Revenue rose 31.4% and profit rose 12.5% year on year. Earnings per share were ₹4.53. The operating margin was 21.0%, 5.0 pp lower than a year earlier. — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's revenue?
Piccadily Agro Industries Ltd reported revenue of ₹335 Cr in the Mar 26 quarter, +31.4% year on year. For the full FY26 fiscal year, revenue was ₹1,038 Cr (+30.2%). Over the last 10 years revenue compounded at 14.4% a year. — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's profit?
Piccadily Agro Industries Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +12.5% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹138 Cr. The operating margin ran 21.0% in the latest quarter. — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's market cap?
Piccadily Agro Industries Ltd's market capitalisation is ₹7,267 Cr at a share price of ₹730. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's P/E ratio?
Piccadily Agro Industries Ltd trades at a P/E of 52.8×, at the 72nd percentile of its own 10-year range, against a long-run median of 21.6×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Piccadily Agro Industries Ltd pay a dividend?
Not in its latest year — Piccadily Agro Industries Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 3 of its last 13 reported fiscal years, so there is a history but no current dividend. — as of 24 July 2026.
Is Piccadily Agro Industries Ltd overvalued?
On its own history, Piccadily Agro Industries Ltd looks expensive against its own history: its P/E of 52.8× sits at the 72nd percentile of its 10-year range (long-run median 21.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Piccadily Agro Industries Ltd growing?
Yes — Piccadily Agro Industries Ltd is growing: latest-quarter revenue +31.4% year on year, profit +12.5%, and the margin −5.0 pp at 21.0%. The 10-year compound rates are 14.4% (revenue) and 52.7% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Piccadily Agro Industries Ltd performing?
Piccadily Agro Industries Ltd is building a base, 6 weeks in. Its latest quarter's revenue rose 31.4% and profit rose 12.5% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Piccadily Agro Industries Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 22.8% and holding. The read comes from the last 12 quarters of growth (revenue growth +26.8% latest, profit growth +34.0% latest, eps growth +29.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Piccadily Agro Industries Ltd in an uptrend?
No — the price is building a base (week 6 of stage 1), trading +20.9% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Piccadily Agro Industries Ltd beating the market?
On recent form, yes — Piccadily Agro Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +9,362% against the NIFTY 500's +266% — ahead of the index over the full window. — as of 24 July 2026.
Will Piccadily Agro Industries Ltd's share price go up?
This page publishes no price forecast for Piccadily Agro Industries Ltd. What it measures instead: the share price is ₹730, the price is building a base 6 weeks in. Its P/E of 52.8× sits at the 72nd percentile of its own 10-year range. — as of 24 July 2026.
Who owns Piccadily Agro Industries Ltd?
Promoters hold 68.6% of Piccadily Agro Industries Ltd, foreign institutions 0.8%, domestic institutions 0.9% and the public 29.7% (latest quarter). The biggest move on the register over the last two years: Promoters cut 2.4 points over 8 quarters. — as of 24 July 2026.
Does Piccadily Agro Industries Ltd have too much debt?
It is moderate — Piccadily Agro Industries Ltd's debt-to-equity is 0.59, and operating profit covers the interest bill 8×. FY26 borrowings were ₹531 Cr against equity of ₹901 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's capex?
Piccadily Agro Industries Ltd spent ₹486 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹193 Cr, with ₹73.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Piccadily Agro Industries Ltd's cash flow?
Piccadily Agro Industries Ltd generated ₹118 Cr of operating cash flow in FY26 and ₹−75.0 Cr of free cash flow after ₹193 Cr of capital spending. Reported profit that year was ₹138 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Piccadily Agro Industries Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 41% of Piccadily Agro Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹118 Cr against reported profit of ₹138 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Piccadily Agro Industries Ltd in its business cycle?
Piccadily Agro Industries Ltd's FY26 operating margin was 22.0%, against a 13-year band of 7.0%–23.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 21.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Piccadily Agro Industries Ltd story?
The sharpest disagreement: profits are rising, but only 41% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Piccadily Agro Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Piccadily Agro Industries Ltd's earnings have outrun its stock. EPS grew +28.6% in a year against a +21.2% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.