Piccadily Agro Industries to invest US$118.4M in expansion, opens first international distillery in Scotland
INDIA – Piccadily Agro Industries Limited (PAIL), the producer of premium beverages such as Indri single malt whisky and Camikara rum, has announced a Rs 1,000 crore (US$118.44M) investment plan to expand its operations.
The investment will fund upgrades to existing facilities, the establishment of a new plant in India, and the launch of its first international distillery in Scotland.
The Haryana-based company aims to strengthen its presence in the premium alcoholic beverage segment.
PAIL will upgrade its distillery and malt facilities in Indri, Haryana, increasing the site’s production capacity to 250 kilolitres per day (KLPD) and expanding its warehousing capacity to over 100,000 barrels.
The first phase of the expansion at Indri is expected to be completed by early 2025.
In addition to the Haryana expansion, PAIL plans to establish a new distillery in Mahasamund, Chhattisgarh.
This facility will have a total production capacity of 210KLPD, with 180KLPD dedicated to ethanol production and 30KLPD allocated for malt spirits.
The company is also making a bold entry into the global whisky market with the construction of a distillery in Portavadie, Scotland.
Located on a 58-acre site, the Portavadie distillery marks a milestone as the first international distillery project by an Indian alcoholic beverage company.
It will specialize in producing Scotch-style malt whiskies and include a world-class visitor center to offer tourists an immersive whisky-making experience.
PAIL promoter Siddhartha Sharma emphasized the company’s vision: “This expansion is not just about scaling up our operations; it’s about reshaping the future of premium Indian alco-bev spirits on a global stage.”
The company anticipates completing the expansion projects within 24 months.
To fund these plans, PAIL raised Rs 262 crore in September 2024 through preferential allotment from marquee investors, with an additional Rs 50 crore (US$5.9M) infused by its promoters. The remaining funds will come from internal accruals and debt.
PAIL operates in two strategic business segments: distillery and sugar.
The company reported revenue of Rs 828.13 crore (US$98.08M) for the fiscal year 2023-24.
With the planned expansions, PAIL aims to boost its production capacity to 460KLPD, including 60KLPD for malt spirits, catering to both domestic and international markets.
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