Content:
- Company Overview of Piccadilly Agro Industries Ltd
- Company Overview of Tilaknagar Industries Ltd
- The Stock Performance of Piccadilly Agro Industries Limited
- The Stock performance of Tilaknagar Industries Limited
- Fundamental Analysis of Piccadilly Agro Industries
- Fundamental Analysis of Tilaknagar Industries
- Financial Comparison of Piccadilly Agro Industries and Tilaknagar Industries
- Dividend of Piccadilly Agro Industries and Tilaknagar Industries
- Advantages and Disadvantages of Investing in Piccadilly Agro Industries
- Advantages and Disadvantages of Investing in Tilaknagar Industries
- How to Invest in Tilaknagar Industries and Piccadilly Agro Industries Stocks?
- Piccadilly Agro Industries vs. Tilaknagar Industries – Conclusion
- Piccadilly Agro Industries vs. Tilaknagar Industries – FAQ
Company Overview of Piccadilly Agro Industries Ltd
Piccadily Agro Industries Ltd., established in 1994, is a leading Indian manufacturer of white crystal sugar and malt spirits. The company operates in two primary segments: Sugar and Distillery. The Sugar segment, produces sugar from sugarcane cultivated in surrounding rural areas, along with by-products like molasses, power and bagasse.
The Distillery segment focuses on producing rectified spirit, extra neutral alcohol (ENA), ethanol, carbon dioxide gas and various liquors, including brands like Malta, Whistler Whisky, Kamet, Indri No.1, Camikara Rum, Royal Highland and Golden Wings.
Company Overview of Tilaknagar Industries Ltd
Tilaknagar Industries Ltd is a company in the alcoholic beverage industry. Its main focus is on producing and selling Indian Made Foreign Liquor (IMFL) and extra-neutral alcohol. The company offers a range of liquor brands across different categories like brandy, whisky, vodka, gin and rum.
Some of its popular brands include Mansion House Brandy, Courrier Napoleon Brandy-Green, Courrier Napoleon Brandy-Red, Vodka, Mansion House Whiskey, Senate Royale Whiskey, Madira Rum and Blue Lagoon Gin.
The Stock Performance of Piccadilly Agro Industries Limited
The table below displays the month-by-month stock performance of Piccadily Agro Industries Ltd for the past year.
| Month | Return (%) |
| Feb-2024 | 15.42 |
| Mar-2024 | -17.84 |
| Apr-2024 | 120.98 |
| May-2024 | 10.56 |
| Jun-2024 | -10.14 |
| Jul-2024 | 16.82 |
| Aug-2024 | -12.05 |
| Sep-2024 | -9.09 |
| Oct-2024 | -4.15 |
| Nov-2024 | 2.23 |
| Dec-2024 | 19.68 |
| Jan-2025 | -18.62 |
The Stock performance of Tilaknagar Industries Limited
The table below displays the month-by-month stock performance of Tilaknagar Industries Ltd for the past year.
| Month | Return (%) |
| Feb-2024 | -12.16 |
| Mar-2024 | -2.88 |
| Apr-2024 | 11.48 |
| May-2024 | -3.0 |
| Jun-2024 | 2.43 |
| Jul-2024 | -0.26 |
| Aug-2024 | 8.63 |
| Sep-2024 | 8.53 |
| Oct-2024 | -3.96 |
| Nov-2024 | 40.07 |
| Dec-2024 | 3.35 |
| Jan-2025 | -13.0 |
Fundamental Analysis of Piccadilly Agro Industries
Piccadily Agro Industries Ltd is a prominent player in the agro-based sector, focusing on the production and processing of high-quality agricultural products. Established with a vision to enhance food security and promote sustainable agriculture, the company specializes in various offerings ranging from food processing to manufacturing agricultural inputs. With a commitment to innovation and excellence, Piccadily Agro Industries works closely with local farmers to ensure the best practices in cultivation and production.
The stock is currently priced at ₹561.85, with a market capitalization of ₹5,833.94 crore. Over the past year, it has gained 48.62%, but recent performance shows a 6-month decline of 24.64% and a 1-month drop of 27.16%. The stock is 81.53% below its 52-week high, indicating a significant correction.
- Close Price ( ₹ ): 561.85
- Market Cap ( Cr ): 5833.94
- 1Y Return %: 48.62
- 6M Return %: -24.64
- 1M Return %: -27.16
- 5Y CAGR %: 136.96
- % Away From 52W High: 81.53
- 5Y Avg Net Profit Margin %: 6.15
Fundamental Analysis of Tilaknagar Industries
Tilaknagar Industries Ltd. (TI), founded in 1933 by Shri Mahadev L. Dahanukar, is a prominent Indian manufacturer and seller of Indian Made Foreign Liquor (IMFL). The company’s diverse portfolio includes brands across various categories such as brandy, whisky, rum, gin and vodka, with flagship products like Mansion House Brandy and Courrier Napoleon Brandy-Green.
The stock is currently trading at ₹260.30, with a market capitalization of ₹5,008.34 crore. Over the past year, it has gained 12.42%, while the 6-month return stands at 13.52%. However, the 1-month decline of 37.59% suggests high volatility. The stock is 75.57% below its 52-week high, indicating a significant correction.
- Close Price ( ₹ ): 260.30
- Market Cap ( Cr ): 5008.34
- Dividend Yield %: 0.19
- 1Y Return %: 12.42
- 6M Return %: 13.52
- 1M Return %: -37.59
- 5Y CAGR %: 69.24
- % Away From 52W High: 75.57
- 5Y Avg Net Profit Margin %: 8.85
Financial Comparison of Piccadilly Agro Industries and Tilaknagar Industries
The table below shows a financial comparison of Piccadily Agro Industries Ltd and Tilaknagar Industries Ltd.
| Stock | PICCADIL | TI | ||||
| Financial type | FY 2023 | FY 2024 | TTM | FY 2023 | FY 2024 | TTM |
| Total Revenue (₹ Cr) | 609.41 | 809.63 | 836.69 | 1249.6 | 1408.09 | 1400.31 |
| EBITDA (₹ Cr) | 62.15 | 180.31 | 189.14 | 222.42 | 196.65 | 229.80 |
| PBIT (₹ Cr) | 46.56 | 162.1 | 170.60 | 190.07 | 164.76 | 198.71 |
| PBT (₹ Cr) | 33.25 | 146.36 | 147.55 | 149.88 | 138.02 | 183.91 |
| Net Income (₹ Cr) | 22.33 | 109.75 | 105.80 | 149.89 | 138.02 | 183.69 |
| EPS (₹) | 2.35 | 11.59 | 11.21 | 8.72 | 7.3 | 9.53 |
| DPS (₹) | 0.0 | 0.0 | 0.00 | 0.25 | 0.5 | 0.50 |
| Payout ratio (%) | 0.0 | 0.0 | 0.00 | 0.03 | 0.07 | 0.05 |
Points to be noted:
- (TTM) Trailing 12 Months – Trailing 12 months (TTM) is used to describe the past 12 consecutive months of a company’s performance data when reporting financial figures.
- EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization): Measures a company’s profitability before accounting for financial and non-cash expenses.
- PBIT (Profit Before Interest and Tax): Reflects operating profit by excluding interest and taxes from total revenue.
- PBT (Profit Before Tax): Indicates profit after deducting operating costs and interest but before taxes.
- Net Income: Represents the company’s total profit after all expenses, including taxes and interest, are deducted.
- EPS (Earnings Per Share): Shows the portion of a company’s profit allocated to each outstanding share of stock.
- DPS (Dividend Per Share): Reflects the total dividend paid out per share over a specific period.
- Payout Ratio: Measures the proportion of earnings distributed as dividends to shareholders.
Dividend of Piccadilly Agro Industries and Tilaknagar Industries
The table below shows a dividend paid by the company.
| Piccadilly Agro Industries | Tilaknagar Industries | ||||||
| Announcement Date | Ex-Dividend Date | Dividend Type | Dividend (Rs) | Announcement Date | Ex-Dividend Date | Dividend Type | Dividend (Rs) |
| 7 Aug, 2023 | 21 Sep, 2023 | Final | 0.2 | 21 May, 2024 | 20 September, 2024 | Final | 0.5 |
| 19 Aug, 2022 | 20 Sep, 2022 | Final | 0.1 | 16 May, 2023 | 21 September, 2023 | Final | 0.25 |
| 11 Aug, 2021 | 22 September, 2021 | Final | 0.5 | 31 May, 2022 | 19 August, 2022 | Final | 0.1 |
| 29 Jun, 2020 | 10 Sep, 2020 | Final | 0.2 | 26 May, 2014 | 18 September, 2014 | Final | 0.8 |
| 29 May, 2013 | 19 September, 2013 | Final | 1 | 30 May, 2013 | 3 September, 2013 | Final | 0.8 |
| 26 May, 2012 | 20 Sep 2012 | Final | 1 | 29 May, 2012 | 13 September, 2012 | Final | 0.8 |
| 31 May, 2011 | 21 Sep, 2011 | Final | 2 | 27 May, 2011 | 29 August, 2011 | Final | 0.8 |
| 31 May, 2010 | 14 September, 2010 | Final | 1 | 9 Aug, 2010 | 23 August, 2010 | Final | 2.5 |
| 26 May, 2012 | 20 September, 2012 | Final | 1 | 15 May, 2009 | 23 Jul, 2009 | Final | 2.5 |
Advantages and Disadvantages of Investing in Piccadilly Agro Industries
Piccadily Agro Industries Ltd
The primary advantage of Piccadily Agro Industries Ltd lies in its strong presence in the sugar and distillery sectors, producing high-quality white crystal sugar, malt spirits and ethanol. With advanced manufacturing capabilities and a growing liquor brand portfolio, the company continues to expand its market reach and profitability.
- Diversified Product Portfolio – Piccadily Agro manufactures sugar, extra-neutral alcohol (ENA), ethanol and premium liquors, catering to both the food processing and alcoholic beverage industries, ensuring revenue diversification and business stability.
- Strong Manufacturing Infrastructure – The company operates modern distilleries and sugar mills, with a daily malt spirit production capacity of 12,000 litres, positioning itself as India’s largest independent malt manufacturer.
- Growing Liquor Brand Portfolio – Piccadily Agro owns several liquor brands, including Indri-Trini, Malta, Whistler Whisky and Camikara Rum, helping it establish a strong presence in the premium and mass-market alcoholic beverage segments.
- Strategic Expansion in Ethanol Production – With increasing government support for ethanol blending programs, the company benefits from rising ethanol demand, ensuring long-term growth and sustainability in the renewable energy and distillery sectors.
- Steady Revenue Growth and Market Presence – Piccadily Agro continues to expand its domestic and export markets, leveraging its strong distribution network and strategic partnerships to drive revenue growth in both the sugar and liquor industries.
The main disadvantage of Piccadily Agro Industries Ltd is its high dependence on raw material availability, particularly sugarcane and grains, which are subject to seasonal fluctuations, climate impact and price volatility, affecting production costs and overall profitability in both the sugar and distillery segments.
- Raw Material Price Volatility – The company relies on sugarcane and grains for sugar and alcohol production. Price fluctuations due to climate conditions and supply chain issues can significantly impact profit margins and operational stability.
- Regulatory and Policy Risks – The sugar and liquor industries are highly regulated, with frequent changes in taxation, licensing and ethanol blending policies, posing compliance challenges and financial uncertainties for long-term growth.
- High Competition in Liquor and Sugar Markets – Piccadily Agro faces intense competition from major sugar producers and established liquor brands, making it difficult to expand market share and maintain premium pricing.
- Limited Brand Recognition in Liquor Segment – While the company has launched premium liquor brands, it still lags behind larger players in marketing, distribution and consumer reach, affecting brand visibility and customer loyalty.
- Capital-Intensive Business Model – The distillery and sugar industries require significant capital investment in machinery, storage and infrastructure. Any financial constraints or rising debt levels could limit expansion opportunities and operational efficiency.
Advantages and Disadvantages of Investing in Tilaknagar Industries
Tilaknagar Industries Ltd
The primary advantage of Tilaknagar Industries Ltd lies in its strong presence in the Indian Made Foreign Liquor (IMFL) segment, particularly in the brandy market. With a growing brand portfolio and expanding distribution network, the company continues to strengthen its position in the alcoholic beverages industry.
- Market Leadership in Brandy Segment – Tilaknagar Industries is a top player in the Indian brandy market, with its flagship brands Mansion House Brandy and Courrier Napoleon Brandy, ensuring a dominant position in southern states where brandy consumption is high.
- Diversified Alcohol Portfolio – The company offers whisky, rum, gin, vodka and brandy, catering to a wide range of consumers, allowing revenue diversification and helping it compete with major liquor brands in India.
- Expanding Distribution and Retail Presence – With a strong distribution network across India, Tilaknagar Industries is expanding its reach in new regions, increasing market penetration and sales growth in both urban and semi-urban areas.
- Strategic Focus on Premiumization – The company is launching premium liquor brands to target higher-margin segments, improving brand perception and increasing profitability in a highly competitive industry.
- Consistent Revenue Growth and Market Expansion – With steady financial recovery and growth strategies, Tilaknagar Industries is expanding exports, strengthening its position in international markets and capitalizing on India’s rising liquor consumption trends.
The main disadvantage of Tilaknagar Industries Ltd is its high dependence on the brandy segment, limiting diversification in other liquor categories. This concentration makes the company vulnerable to shifts in consumer preferences, regional demand fluctuations and intense competition from broader alcoholic beverage markets.
- Limited Product Diversification – While strong in brandy sales, the company has a smaller presence in the whisky, rum and vodka segments, making it difficult to compete with major liquor manufacturers with broader product portfolios.
- Regulatory and Taxation Risks – The liquor industry is heavily regulated, with frequent changes in state-wise excise duties, taxation and sales restrictions, which can impact pricing strategies and profit margins.
- High Competition in the IMFL Industry – The company faces stiff competition from larger liquor players like United Spirits, Radico Khaitan and Pernod Ricard, making it harder to expand market share beyond its brandy stronghold.
- Debt Burden and Financial Constraints – Tilaknagar Industries has faced debt restructuring challenges, which impact its ability to expand operations, invest in marketing and scale up production capacity.
- Regional Market Dependence – A large portion of its sales comes from southern states in India and any decline in brandy consumption or changes in state policies could significantly affect its revenue and long-term growth prospects.
How to Invest in Tilaknagar Industries and Piccadilly Agro Industries Stocks?
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- Open a Demat and Trading Account – Register with a SEBI-approved stockbroker like Alice Blue to open a demat and trading account, enabling you to buy, sell and hold Tilaknagar Industries and Piccadilly Agro Industries shares securely in electronic form.
- Analyze Market Trends – Research financial reports, industry trends and stock performance of both companies. Evaluate growth potential, competition and regulatory factors that could impact their future profitability before making an investment decision.
- Use a Reliable Stockbroker – Trading through Alice Blue provides access to real-time market data, expert insights and user-friendly trading platforms, helping investors make informed decisions while keeping brokerage costs low.
- Place a Buy Order – Search for Tilaknagar Industries and Piccadilly Agro Industries stocks on your broker’s platform, determine your investment amount and place a market or limit buy order based on your trading strategy.
- Monitor and Manage Investments – Regularly track stock price movements, industry news and company updates. Implement risk management strategies like stop-loss and profit booking to optimize returns and reduce investment risks in volatile market conditions.
Piccadilly Agro Industries vs. Tilaknagar Industries – Conclusion
Piccadilly Agro operates in the sugar and distillery sectors, producing ethanol, malt spirits and premium liquor brands. With growing ethanol demand and expanding liquor brands, it shows strong potential, though competition, raw material costs and regulatory challenges remain key risks.
Tilaknagar Industries is a leading IMFL manufacturer, specializing in brandy, whisky, rum and vodka. Its strong brand portfolio and expanding market reach support growth, but regional dependency, high competition and regulatory hurdles pose challenges for long-term scalability and revenue diversification beyond the brandy segment.
Piccadilly Agro Industries vs. Tilaknagar Industries – FAQ
Piccadilly Agro Industries Ltd is an Indian company engaged in sugar manufacturing and distillery operations, producing white crystal sugar, ethanol, malt spirits and premium liquor brands like Indri-Trini and Camikara Rum. With modern distilleries and a strong market presence, it plays a key role in the alcohol and sugar industries.
Tilaknagar Industries Ltd is an Indian company known for producing alcoholic beverages, primarily focusing on the manufacturing and distribution of spirits. Established in 1933, the company has gained recognition for its diverse portfolio, including brands of whiskey and vodka and operates across various regions in India.
Alcohol stocks refer to shares of companies engaged in the production, distribution and sale of alcoholic beverages, including whisky, brandy, rum, vodka, gin and beer. These stocks are influenced by consumer demand, regulatory policies and market trends, offering investors exposure to the booming liquor industry and premiumization trends.
As of February 2025, Piccadily Agro Industries Ltd is led by Managing Director Harvinder Singh Chopra, who has been with the company since January 16, 1995. The Board of Directors also includes Chairman Akhil Dada and Whole-Time Director Dharmendra Kumar Batra.
The main competitors of Piccadilly Agro Industries and Tilaknagar Industries include United Spirits, Radico Khaitan, Pernod Ricard, Globus Spirits and Som Distilleries. These companies operate in the alcohol and distillery sector, producing whisky, brandy, rum, vodka and ethanol, competing on market share, pricing, distribution and brand positioning.
As of February 2025, Tilaknagar Industries Ltd. has a market capitalization of approximately ₹4,912 crore, reflecting its valuation in the alcoholic beverages sector. In comparison, Piccadily Agro Industries Ltd. boasts a higher market capitalization of around ₹5,543 crore, indicating a larger market valuation in the sugar and distillery industry.
Piccadilly Agro Industries’ key growth areas include expanding its premium liquor portfolio, increasing ethanol production for biofuel programs and strengthening its export market presence. The company is also focusing on technological advancements in distillery operations and scaling up sugar production to meet rising demand in both domestic and international markets.
Tilaknagar Industries’ key growth areas include expanding its brandy market leadership, increasing premium liquor offerings and strengthening its distribution network across India. The company is also focusing on export expansion, strategic partnerships and digital marketing initiatives to enhance brand visibility and drive long-term revenue growth in the alcoholic beverages industry.
As of February 2025, Tilaknagar Industries Ltd. offers a higher dividend yield compared to Piccadily Agro Industries Ltd. In 2024, Tilaknagar Industries declared a dividend of ₹0.50 per share, resulting in a yield of approximately 0.20%. In contrast, Piccadily Agro Industries declared a dividend of ₹0.20 per share in 2023, with a yield of around 0.05%. Therefore, Tilaknagar Industries provides better dividends than Piccadily Agro Industries.
As of February 2025, Piccadily Agro Industries Ltd. has demonstrated robust financial performance, with a 5-year Compound Annual Growth Rate (CAGR) of 162.35% and a Return on Equity (ROE) of 32.31% in the fiscal year ending March 31, 2024. In contrast, Tilaknagar Industries Ltd. has achieved a 5-year CAGR of 100.45% and a 3-year ROE of 26.5%. While both companies exhibit strong growth, Piccadily Agro’s superior ROE and higher CAGR suggest it may offer better prospects for long-term investors.
Piccadilly Agro Industries generates most of its revenue from the distillery and sugar sectors, focusing on ethanol production, malt spirits and premium liquor brands. Tilaknagar Industries primarily derives its revenue from the Indian Made Foreign Liquor (IMFL) sector, with a strong presence in the brandy, whisky and rum markets.
As of February 2025, Piccadily Agro Industries Ltd. has demonstrated a 5-year Compound Annual Growth Rate (CAGR) of 162.35% and a Return on Equity (ROE) of 32.5%. In contrast, Tilaknagar Industries Ltd. has achieved a 5-year CAGR of 100.45% and an ROE of 21.4%. These figures suggest that Piccadily Agro Industries exhibits higher profitability compared to Tilaknagar Industries.
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Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
