Piccadily Agro Industries Limited (PICCADIL) — Corporate Action

📢 Key Event
Board approves demerger of sugar business into new listed entity pending regulatory approvals.

🔄 What Changed
Demerger proposal introduced; auditor resignation confirmed; new auditor recommended pending shareholder vote.

🔮 What's Next
Demerger requires regulatory approvals; no timeline or shareholder meeting date disclosed.

💡 Investor Takeaway
Shareholders will receive one share in the new sugar entity for every nine shares held, with no cash consideration, creating two separate listed companies.

Piccadily Agro Industries Limited announced on 28 April 2026 the board approval of its audited Q4 FY2026 results and a proposed demerger of its sugar business into a new listed entity, Piccadily Food & Essential Limited. The demerger, requiring NCLT, BSE, NSE, and SEBI approvals, will separate the sugar and distillery operations into distinct listed companies. The filing also notes the resignation of Jain & Associates as auditors and recommends Rattan Kaur & Associates pending shareholder approval. Financials show revenue of ₹36,363.41 crores, profit after tax of ₹13,931.27 crores, and total assets of ₹1,63,964.14 crores for the quarter ended 31 March 2026.

📄 View Original Announcement (PDF)

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