The distillery segment is down QoQ due to seasonality factors and also the settling of the great Indri rush, as per my conversations with a couple of dealers in a few states there has been a slight dip in the popularity growth rate of Indri as earlier it went viral after the best whisky award, so going forward it will be a normalized and a more stable growth rate, distillery business did decently well YoY despite the heat wave, elections and dip in the euphoria where every alcohol consumer wanted to try Indri. The best part is people are still putting themselves on the waiting list for their expensive bottles. The major hit to the topline came from the sugar division which fell both QoQ and YoY, only the management can answer why this happened either in an interview or a con-call (which has now become the need of the hour). The only satisfying figure is the margin improvement from 11% to 14% which is due to higher contribution from the distillery business. I am still confident about the company’s growth prospects and won’t let a rough quarter change my mind.
Disclosure - Invested
One must re-visit this - Piccadily Agro Industries Ltd - #115 by sahir
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