Piccadily Agro Industries (PAIL) plans to invest Rs 1,000 crore (US$ 121.9 million) to expand its operations, including upgrades to its distillery and malt facilities in Indri, Haryana, and the establishment of a new facility in Chhattisgarh.
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Piccadily Agro Industries (PAIL) would invest Rs 1,000 crore (US$ 121.9 million) to develop existing facilities and build new operations, expanding its offering in the premium sector. The business wants to raise Rs 312 crore to fund its growth goals, including expanding existing distillery and malt facilities in Indri, Haryana, and establishing a new facility in Mahasamund, Chhattisgarh.
It will also establish its first international distillery in Portavadie, Scotland, to expand its premium spirits output. In September 2024, it raised Rs 262 crore through preferential offering from marquee investors, with the promoters contributing a further Rs 50 crore. The remaining funds will be secured through a combination of internal accruals and loans.
With this development in India, the overall production capacity would be increased to 460 kilolitres per day (KLPD), including 60 KLPD of malt spirits, ensuring that the company is well-positioned to satisfy expanding demand in both the Indian and international markets. The expansion projects are planned to be completed during the following 24 months.
The first phase of the Indri plant will be finished by early 2025. This growth is more than just expanding operations; it is also about redefining the worldwide future of premium Indian alcoholic beverages.
As part of this, it will increase the total capacity of its distillery in Indri, Haryana, to 250 kilolitres per day (KLPD). Furthermore, the corporation is increasing its storage infrastructure to accommodate 1,00,000 barrels.
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