Madhu Kanna, Head International Sales, Piccadily Agro Industries

Piccadily Agro Industries is banking on broader international expansion, new duty-free tie-ups and entry into additional overseas markets to fuel its next phase of growth, targeting an increase in the international business contribution to 40 per cent over the next four years from the current 25-28 per cent.

“Today, we are selling Indri in over 30 different countries worldwide. Indri is the leading single malt from India in terms of sales and market share when it comes to international business. Even within the domestic business, we are leading the pack,” Madhu Kanna, Head International Sales, Piccadily Agro Industries, shared.

Strong domestic base and diversified portfolio

Piccadily Agro Industries operates primarily in two strategic business segments: Distillery and Sugar. Its manufacturing facility in Indri, Haryana, spans 168 acres and is equipped with advanced technology to produce Malt, Extra Neutral Alcohol (ENA), Ethanol, and White Crystal Sugar, among others. The company’s portfolio also includes Camikara rum and Cashmir, a small-batch luxury vodka.

In the domestic market, the company has established a presence in nearly all states where alcohol distribution is permitted, except for a few fully government-controlled markets. It also supplies to the Canteen Stores Department (CSD) and paramilitary organisations, with its India expansion now largely complete.

Currently, 70-75% of its business comes from its domestic presence. “While we launched Indri in both domestic and international markets, it is hugely appreciated within India. This has given us a big pull internationally. The mirror effect of a homegrown brand being loved and consumed within India is visible in its international market presence as well,” he said.

US remains key export market for Indri whisky

For Indri, the US is the largest overseas market by sales and consumption, followed by the UAE and the broader Middle East, with Canada, the UK, and Australia also contributing significantly. The company said nearly 70 per cent of consumption in these markets comes from the Indian diaspora, while the remaining demand is driven by consumers exploring Indian single malts. It added that sales continue to grow in European markets such as Belgium, Germany and France despite a minimal Indian diaspora presence.

Duty-free expansion and new global markets in focus

Piccadilly plans to expand Indri into 3-4 additional countries this year, while strengthening the international presence of its rum portfolio, currently available in around 15 countries. The company is also focusing on scaling its recently launched vodka brand, for which initial consignments have already been shipped to 7-8 countries.

However, Kanna said, since the conflict began, the company’s airport sales in the UAE have dropped. Consumption within the region is now largely limited to off-trade retail purchases, while on-trade demand has reduced due to the absence of tourism. Globally, rising gas prices have fuelled inflation, prompting consumers to spend more cautiously. While people have not stopped drinking, many are either shifting to less expensive options or choosing premium-quality products selectively.

“We grew despite the crisis and are optimistic about growing this year because we are pretty young. We’re also expanding our distribution width-wise and depth-wise, adding new markets. The year before, we were present in about 25 states in the US, moving up to 30 states last year. This year, we intend to be in around 40 states,” he said.

The company expects Q1 sales this year to remain flat year over year, but anticipates growth from Q2 and Q3 onwards.

Piccadily is expanding its duty-free presence, which it considers a key part of its business, with plans to add 5-10 international airports to its existing network of 30 airports across India and overseas this year. The company’s stock has reached Sydney; it is shipping consignments to Turkey while preparing to expand further across Europe, the UK, the US, and Canada.

The company is expanding into China, Taiwan, Vietnam, and Cambodia, alongside Scandinavia, Turkey, and Eastern Europe. It is also exploring Latin American markets as part of a longer-term growth strategy.

Published on May 27, 2026