Piccadily Agro Industries Ltd

As per the below article, Indian Single Malt have been growing at CAGR of 50% over the last 5yrs. So, in 2 yrs market size should double. Already, Indri keeps going out-of-stock in so many places in North India.

Also, please note that a large proportion of production of Indian Single Malts is exported. ( from 30-50% depending upon the brand) which is additional demand.

Total size of Indian whisky market, overwhelming majority of which is mass product, is 242 million cases (a case is made of 12 bottles) which is also growing rapidly. Now, even a small shift of say 5% from mass to premium single malt whisky product due to rising affluence and affordability of Indians will lead to exponential demand growth for the premium single malt whisky.

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