Piccadily Agro posts Rs 18.5 crore profit in Q1
It had reported a profit after tax of Rs 13.91 crore in the April-June period a year ago, according to a regulatory filing from the company.
Piccadily Agro Industries' revenue from operations was up 9.89 per cent to Rs 228.99 crore during the quarter under review. It was Rs 208.38 crore a year earlier.
The company, which operates in two business segments — distillery and sugar — reported an 8.18 per cent increase in total expenses to Rs 204.80 crore in the quarter.
Revenue of Piccadilly's 'Distillery' business, including IMFL, grew 36.6 per cent to Rs 162.8 crore. This was at Rs 119.23 crore in the corresponding quarter.
'IMFL volumes surged 38.6 per cent YoY, reflecting continued demand momentum for the company's premium portfolio," the company said.
Piccadily Agro Industries is the largest independent malt manufacturer and seller of malt spirit in India. It owns Indri Single Malt and Camikara rum.
However, its revenue from sugar was down 25.77 per cent to Rs 66.16 crore during the quarter as against Rs 89.14 crore a year ago.
Shares of Piccadily Agro Industries Ltd on Tuesday settled at Rs 601.80 on the BSE, down 5.35 per cent from its previous close. PTI KRH TRB
(This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
a few seconds ago
- Economic Times
Microfinance portfolio contracts further to Rs 3.59 lakh cr
Synopsis India's microfinance market experienced a contraction, with the gross loan portfolio declining to Rs 3.59 lakh crore by June 2025. Lenders are prioritizing responsible lending and addressing overleveraging, leading to a decrease in borrowers with multiple lender associations. While early-stage delinquencies improved, later-stage stress remains a concern, indicating a shift towards quality-focused lending. Agencies Representative image Kolkata: The size of India's microfinance market contracted further to Rs 3.59 lakh crore at the end of June, down 5.8% quarter-on-quarter and 17% year-on-year as lenders remained circumspect over growing lending portfolio. The active loan accounts fell to 13.2 crore from 15.93 crore, with the live customer base declining to 8 crore from 8.66 between June 2024 and June 2025. The data were compiled and shared by credit bureau Credit High Mark. The sectoral gross loan portfolio started falling from the first quarter of FY25 after it reached a record high of Rs 4.43 lakh crore at the end of March 2024. It fell to Rs 4.32 lakh crore at the end of June 2024. The moderation aligns with the Reserve Bank of India's push for responsible lending, alongside guardrails from self-regulatory organisations to curb overleveraging, it said. Over the last few quarters, the issue of overlending has also been addressed. Borrowers with four or more active lender associations fell sharply to 10% in June 2025, from 19.2% a year earlier. Over the last 12 months, about 60% of all loans were extended to existing customers with proven repayment histories. Loans above Rs 1 lakh increased in portfolio share to 8.3% as of June 2025 from 4.6% a year back, with 80% of it going to borrowers with a vintage of more than 24 months. The credit bureau said that the portfolio performance has shown green shoots with early- and mid-stage delinquency levels (PAR 31–90) improved from 3.1% in December 2024 and 2.7% in March 2025 to 2.4% in June 2025, signalling strengthening repayment discipline. However, stress in later-stage buckets (PAR 180+ including write-offs) continued to rise, reaching 12.4% in June 2025 from 5.2% in June 2024, underscoring ongoing challenges. The performance highlighted a shift towards quality-focused lending, said CRIF High Mark chairman Sachin Seth. "Lenders prioritised established borrowers, reduced overleveraging, and adjusted ticket sizes in line with risk considerations. The data also highlights early improvements in portfolio quality, with mid-stage delinquencies showing some improvement over the past two quarters,' he said.
Economic Times
a few seconds ago
- Economic Times
Has ICICI Bank taken a U-turn on Rs 50,000 monthly average balance? Here's what it's website shows
ET Online (Representative image) ICICI Bank has lowered its minimum balance requirement for savings account to Rs 15,000 from the earlier Rs 50,000 as announced. ICICI Bank has lowered its minimum balance requirement for savings account to Rs 15,000 for new savings accounts opened from August 1, 2025. ICICI Bank said: "We had introduced new requirements for the Monthly Average Balance (MAB) for new Savings Accounts opened from August 1, 2025. Following valuable feedback from our customers, we have revised these requirements to better reflect their expectations and preferences." According to the ICICI Bank website, the monthly minimum average balance (MAB) for urban locations is now Rs 15,000. Prior to this change it was Rs 50,000. For semi-urban locations the MAB is now revised to Rs 7,500. Previously, the MAB stood at Rs 25,000 for semi urban areas. Also read: Rs 4.58 crore stolen from ICICI bank customers: Broke FDs, created overdraft and personal loan; how relationship manager executed fraud Available in All cities Eligibility Resident Indian below 60 years Minimum monthly averagebalance (MAB)* (MAB is thesimple average of day-endbalances for a calendarmonth) Metro and Urban locations - Rs 15,000Semi-urban locations - Rs 7,500Rural locations- Rs 2,500Pensioners (Below 60 Years) and Students of 1200 selectinstitutes – Nil MAB This SOC is applicable to Savings Account, Account for Pensioners (Below 60Years) and Minors• Programme: Select Banking, Wealth Management andPrivate Banking• Savings Account integrated with Demat & TradingAccount (3-in-1 Account) Source: ICICI Bank website ( Please note: This Schedule of Charges (SOC) and MAB requirements are not applicable to Salary Accounts, Senior Citizens / Pensioners (Above 60 years), BSBDA/PMJDY, and Accounts for people with special needs. They are also not applicable to Savings Accounts opened before July 31, 2025. We have sent our queries to ICICI bank and are waiting for their response. Also read: ICICI Bank branch manager duped depositors of crores for years to meet targets. How is Minimum monthly average balance (MAB) calculated? MAB is the simple average of day-end balances for a calendar month. MAB is calculated by dividing the closing day balances in your account every single day, and dividing them by 30, or 31, whatever the length of the ongoing month has been. In the case of ICICI Bank, if the individual failed to maintain this MAB, they would be penalised 6% of the shortfall, or Rs 500, whichever is lower. Following this, in case the MAB in your account came down to Rs 9500, you'll be required to pay penalty of 6% on the shortfall of Rs 500, i.e. Rs these rules were not applicable to existing ICICI customers i.e. those who held an account with the bank before August 1, 2025, the rules significantly impacted those opening an account with the bank post this date. While calculating MAB, it is important to remember that you are not required to maintain the MAB in your account at all times. This means that in case the MAB stipulated by your bank is Rs 10000, it does not mean that you are required to have Rs 10,000 in your account at all times. It simply means that the average of your daily closing balances should come down to 10,000. N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman, Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman, Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics, ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director, Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman, HUL Watch Now Sanjiv Mehta Former Chairman / CEO, Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author, Just Aspire Watch Now Shiv Khera Author, Business Consultant, Motivational Speaker Watch Now Nakul Anand Executive Director, ITC Limited Watch Now RS Sodhi Former MD, Amul & President, Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman, Havells Watch Now Zia Mody Co-Founder & Managing Partner, AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO, Salesforce India Watch Now
Time of India
a few seconds ago
- Time of India
Tariff Shock: $7 bn India–US auto parts trade braces for big impact
The US's new tariffs on Indian auto components are set to cause immediate disruption, with analysts and industry experts warning that 15-20 per cent of India's exports to its largest auto-parts market could be lost in the short term, ToI reported. The US accounts for 27 per cent of India's auto component exports, meaning around 8 per cent of the country's total production will be directly affected, said Jitin Makkar, group head and senior vice-president (corporate ratings) at ICRA . According to the Automotive Component Manufacturers Association (ACMA), exports to the US stood at nearly $7 billion in 2024. Of this, $3.6 billion worth of parts and components for cars and small trucks will now attract a 25 per cent duty. The bigger hit will come from the remaining $3 billion, which includes commercial vehicle parts, construction equipment components, off-highway machinery, and tractor and farm equipment parts, all of which will face a reciprocal tariff of 50 per cent. While larger original equipment manufacturers are already exploring alternative markets, the impact will be most severe for small and medium-sized enterprises (SMEs) that make up the bulk of the sector. Noble Cast Comp, an aluminium casting manufacturer in Bhosari, sends 60 per cent of its products to the US. Its chairman and managing director, Nitin Bhagwat, said American customers were already asking the company to share the tariff burden, which would squeeze profit margins. In Pimpri Chinchwad, R K Industries exports computer numerical control machined components to global auto firms, with 20 per cent of its shipments going to the US. 'Effects are expected to be felt from next month, with US customers likely seeking price reductions due to increased landing costs and clients may also explore alternative suppliers from countries with lower costs,' said the company's operations head, Nilesh Khaire. The effective duty rates will range from 25-28 per cent to 45-50 per cent, depending on the product category, and the extent of the impact will vary based on how essential the exported component is. Ravindra Patki, managing partner at Vector Consulting Group, said, '30-40 per cent of India's auto component exports to the US comes from programmes in which India is one of multiple approved suppliers with a defined share of business.' For larger exportable parts, Indian suppliers will be at a disadvantage compared with exporters from countries such as Japan, Vietnam and Indonesia, which face lower tariffs of 15-19 per cent. Component makers say much will depend on their individual ties with US buyers. Sipra Engineering managing director M Umadi said, 'US customers, accounting for 28-32 per cent of exports, have assured support if we maintain cost, quality and delivery standards, but may request cost reductions later.'
