With the little knowledge I have of capital markets, I find it little difficult to compare as Allied Blenders focuses more on volume growth with their entry level IMFL segment whiskey (OPM 7%) as compared to Piccadily which is more into the premium segment with more focus on margin growth as compared to volume with OPM of 25%. Still volume wise, Piccadily still has a long way to go. Hopefully the ongoing capacity expansion which gets completed next year will help with volume growth. Also, since the number of investors in Piccadily has gone up from 21k to 70k in past 3 years, whether the stock is still undiscovered is anyone’s guess.
Request senior VP members to correct my mistakes
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