A few questions sent to management on their investor relations email. Pls comment if anyone here knows more about these.
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Investment in Portavadie Distillery: As per your annual report, investment in Portavadie Distillery (100% subsidiary) is carried at a cost of INR 17.8 crores. However, as per this article, Piccadily has invested GBP 15 million in Portavadie (eq. to ~INR 150 crore). What is this discrepancy? Please provide information as to the acquisition cost of Portavadie and clarify this. Link: New plans submitted for Portavadie Distillery – The Spirits Business
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Sale of land during 2023-24: As per AR, land was sold at a profit of ~29 crore. Pls provide information on which land was sold and for what consideration? How was the proceeds of sale used by the company? Pls provide detailed information.
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Related Party Transaction: As per AR, the company has Balances Outstanding from Piccadily Sugar worth INR 37 crores (page 122 of AR). What is the nature of these receivables? When will they be settled? Pls provide the details.
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