- Business
- Piccadily Sugar & Allied Industries Limited manufactures white crystal sugar from sugarcane and produces rectified spirit, extra neutral alcohol from molasses, rice or wheat, ethanol, Indian-made foreign liquor, Punjab medium liquor and country liquor; it also operates a co-generation power plant with 15 megawatts capacity using bagasse and rice husk. Incorporated in 1993 and headquartered at Jakhal Road, Patran, District Patiala, Punjab, India, the company maintains facilities spread over 164 acres including a sugar plant with 2,500 tons crushed per day capacity and distillery units at Patran, Punjab, and Bawal, Haryana; operations focus on the Indian market within the sugar and distillery segments of the food and beverages industry. Recent developments include the re-appointment of Naveen Pawar as whole-time director and chairman effective July 30, 2024, for one year; appointments of Akhil Dada and Ramneek Kaur as additional independent directors and Avneet Kaur as additional non-executive non-independent director in July 2024; and approval sought for issuing up to 1.2 crore 5% non-convertible cumulative redeemable preference shares worth Rs 12 crore on private placement basis to promoters or strategic investors, including loan conversions.