Piccadily Agro becomes a multibagger in just two weeks and gains over 100%; here’s why?

The shares of India’s largest independent malt makerPiccadily Agro Industries Ltd gained traction in the past two weeks after it received the award for the best whisky in the world at the 2023 Whiskies of the World Award.

On Tuesday, Piccadilly Agro Industries Ltd shares soared 5% to an all-time high of Rs 312.40 per share from the previous close price of Rs 297.55. The stock has gained a multibagger return of 126.54% in just two weeks. A shareholder’s investment of Rs 1 lakh in the business would be worth Rs 2.26 lakh.

Piccadily Agro Industries was recently named ‘Best in Show, Double Gold’ at the 2023 Whiskies of the World Awards for producing the Indri Diwali Collector’s Edition 2023. An Indian Whisky, Indri Diwali Collector’s Edition 2023, earned ‘Best in Show, Double Gold’ in the 2023 Whiskies of the World Awards. In Haryana, the business released its whisky under the brand Indri in 2021.

The Whiskies of the World Award is one of the largest whiskey-tasting competitions in the world. The event, which is conducted yearly, judges over 100 different types of whisky from across the world. Sales have increased by 24% year on year, rising from Rs 184 crore in Q1FY23 to Rs 228 crore in Q1FY24. Furthermore, within the same time period, net profit climbed by 57%, from Rs 7 crore to Rs 11 crore.

The stock has returned a multibagger of 350% in three months and 600% over a year. A Rs 1 lakh investment in the firm by a shareholder would be worth Rs 7 lakh after a year and Rs 4.50 lakh after three months. In the most current ownership pattern, the firm promoters own 70.97% of the company, while retail investors own 29.02%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.