---
title: "Pioneer Distilleries Ltd (PIONDIST) — Share Price, Financials & Analysis"
symbol: "PIONDIST"
company: "Pioneer Distilleries Ltd"
canonical: "https://tapetide.com/stocks/PIONDIST"
isin: "INE889E01010"
nse_symbol: "PIONDIST"
sector: "Fast Moving Consumer Goods"
industry: "Beverages"
generated_at: "2026-09-13T18:45:19.282Z"
---

# Pioneer Distilleries Ltd (PIONDIST)

Canonical page: https://tapetide.com/stocks/PIONDIST

## Company

- **NSE Symbol:** PIONDIST
- **ISIN:** INE889E01010
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Beverages
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** pioneerdistilleries.com

## About

Pioneer Distilleries Ltd is engaged in the business of processing and selling extra neutral alcohol (ENA), malt spirits and allied products along with bottling operations of Indian Made Foreign Liquor (IMFL). [1]

## Latest Price

- **Price:** ₹180.55
- **Change:** 0 (0%)
- **Open:** ₹183.8
- **Day High:** ₹183.8
- **Day Low:** ₹178.05
- **Previous Close:** ₹180.55
- **Volume:** 0
- **As Of:** 2023-01-05T04:40:00+00:00

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 22% | -3% | — |
| revenue growth | 23% | 15% | 17% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 50 | 39 | 33 | 51 | 32 | 51 | 37 | 64 | 55 | 56 | 59 | 56 |
| Expenses | 44 | 54 | 37 | 53 | 45 | 57 | 42 | 68 | 55 | 53 | 63 | 60 |
| Operating Profit | 6 | -16 | -4 | -2 | -13 | -5 | -5 | -4 | -1 | 3 | -4 | -3 |
| OPM % | 13 | -40 | -14 | -3.8 | -40 | -10 | -12 | -7 | -1.6 | 6 | -6 | -6 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 10 |
| Depreciation | 12 | 12 | 8 | 8 | 8 | 9 | 8 | 10 | 8 | 8 | 9 | 9 |
| Profit before tax | -13 | -35 | -20 | -17 | -28 | -21 | -21 | -22 | -17 | -13 | -21 | -21 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -13 | -35 | -20 | -17 | -28 | -21 | -21 | -22 | -17 | -13 | -21 | -21 |
| EPS in Rs | -9.54 | -26 | -15.02 | -12.78 | -20.86 | -15.95 | -15.4 | -16.26 | -12.69 | -9.35 | -15.31 | -15.93 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 146 | 182 | 190 | 96 | 135 | 138 | 172 | 167 | 212 | 226 |
| Expenses | 137 | 153 | 109 | 110 | 144 | 162 | 182 | 192 | 219 | 231 |
| Operating Profit | 8 | 29 | 81 | -13 | -9 | -23 | -11 | -25 | -7 | -5 |
| OPM % | 6 | 16 | 43 | -14 | -6 | -17 | -6 | -15 | -3.2 | -2.1 |
| Other Income | 0 | 1 | 0 | 17 | 170 | 4 | 2 | 3 | 3 | 3 |
| Interest | 19 | 39 | 24 | 19 | 23 | 29 | 34 | 32 | 34 | 36 |
| Depreciation | 11 | 24 | 26 | 27 | 37 | 49 | 47 | 33 | 34 | 34 |
| Profit before tax | -21 | -34 | 32 | -43 | 102 | -97 | -89 | -87 | -72 | -71 |
| Tax % | 0 | -36 | 31 | -31 | 31 | -31 | 67 | 0 | 0 | — |
| Net Profit | -21 | -22 | 22 | -30 | 70 | -67 | -149 | -87 | -72 | -71 |
| EPS in Rs | -15.9 | -16.16 | 16.36 | -22.45 | 52.25 | -50.06 | -111.34 | -64.6 | -53.7 | -53.28 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | -72 | -105 | -28 | -58 | 12 | -55 | -204 | -291 | -363 | -405 |
| Borrowings | 91 | 65 | 29 | 230 | 306 | 426 | 425 | 459 | 477 | 468 |
| Other Liabilities | 295 | 375 | 356 | 279 | 260 | 192 | 208 | 220 | 247 | 266 |
| Total Liabilities | 329 | 349 | 371 | 463 | 592 | 576 | 443 | 401 | 375 | 343 |
| Fixed Assets | 190 | 175 | 164 | 167 | 278 | 240 | 194 | 191 | 175 | 159 |
| CWIP | 42 | 40 | 32 | 108 | 4 | 1 | 2 | 10 | 6 | 16 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 96 | 134 | 175 | 189 | 310 | 335 | 246 | 199 | 193 | 167 |
| Total Assets | 329 | 349 | 371 | 463 | 592 | 576 | 443 | 401 | 375 | 343 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 10 | 58 | 78 | 51 | 35 | -14 | -91 | 29 | 5 | 24 |
| Cash from Investing Activity | -36 | -39 | -19 | -6 | -93 | -51 | -11 | -5 | -17 | -18 |
| Cash from Financing Activity | 25 | -19 | -59 | -46 | 58 | 65 | 102 | -24 | 11 | -6 |
| Net Cash Flow | -1 | 1 | 1 | -1 | 0 | 0 | 0 | 0 | -1 | 0 |
| Free Cash Flow | -26 | 20 | 59 | 45 | -58 | -65 | -102 | 24 | -12 | 6 |
| CFO/OP | -124 | 687 | 271 | 63 | -261 | 15 | 387 | -277 | -21 | -358 |

### Ratios

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 4 | 2 | 1 | 1 | 5 | 1 | 0 | 0 | 0 | 0 |
| Inventory Days | 153 | 117 | 138 | 59 | 269 | 146 | 224 | 244 | 194 | 181 |
| Days Payable | 105 | 77 | 81 | 59 | 113 | 78 | 86 | 53 | 45 | 62 |
| Cash Conversion Cycle | 52 | 42 | 57 | 2 | 161 | 68 | 138 | 191 | 149 | 119 |
| Working Capital Days | -242 | -305 | -280 | -157 | -769 | -351 | -622 | -600 | -733 | -614 |
| ROCE % | -20 | -4 | 164 | — | -24 | 47 | -19 | -18 | -26 | -25 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 0.75% | 0.75% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0.03% | 0% | 0% | 0% | 0.75% | 0.75% | 0% |
| Public | 24.22% | 24.25% | 25% | 25% | 24.25% | 24.25% | 25.01% |
| No. of Shareholders | 4078 | 3893 | 5280 | 4589 | 4791 | 5179 | 4963 |

### Quarterly

| Category | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0.63% | 0.43% | 0.42% | 0% | 0% | 0% |
| DIIs | 0.03% | 0% | 0% | 0% | 0.75% | 0.75% | 0.75% | 0.74% | 0.74% | 0.75% | 0.75% | 0% |
| Public | 24.97% | 25% | 25% | 25% | 24.25% | 24.25% | 23.62% | 23.83% | 23.84% | 24.25% | 24.25% | 25.01% |
| No. of Shareholders | 4977 | 4589 | 4672 | 5109 | 4879 | 4791 | 4893 | 5613 | 5485 | 5179 | 5064 | 4963 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 4 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 236.45 | Buy |
| EMA (10) | 238.15 | Sell |
| SMA (20) | 249.68 | Sell |
| EMA (20) | 249.54 | Sell |
| SMA (50) | 294.02 | Sell |
| EMA (50) | 287.08 | Sell |
| SMA (100) | 358.05 | Sell |
| EMA (100) | 317.34 | Sell |
| SMA (200) | 320.89 | Sell |
| EMA (200) | 309.32 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 36.09 | Neutral |
| MACD (12,26,9) | -17.08 | Buy |
| Stochastic (14,3,3) | 14.09 | Buy |
| ADX (14) | 47.98 | Buy |
| Williams %R (14) | -66.12 | Neutral |
| ATR (14) | 11.52 | High Volatility |
| ROC (12) | -7.1 | Sell |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 46.48 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2022-12-26 | ['Record Date' For The Scheme Of Amalgamation And Arrangement Amongst Pioneer Distilleries Limited And United Spirits Limited And Their Respective Shareholders And Creditors.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=988bb736-2447-4c60-a3ba-067e16077bd3.pdf) |
| 2022-12-02 | [Certified Copy Of Order Of The Hon'Ble National Company Law Tribunal, Bengaluru Bench In The Matter Of The Scheme Of Amalgamation And Arrangement Amongst Pioneer Distilleries Limited And United Spirits Limited And Their Respective Shareholders And Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=98b5e53a-34c6-49f9-aab6-4ae41324411f.pdf) |
| 2022-11-28 | [Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d337c63e-a553-4cc9-8b3d-ff61ecf83f7a.pdf) |
| 2022-11-28 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=35331327-147c-43d8-8114-f9afbdc0a3f2.pdf) |
| 2022-11-17 | [Copy Of Order Of The Hon'Ble National Company Law Tribunal, Bengaluru Bench In The Matter Of The Scheme Of Amalgamation And Arrangement Amongst Pioneer Distilleries Limited And United Spirits Limited And Their Respective Shareholders And Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=785c54f8-d28b-465a-acd0-234be0395053.pdf) |
| 2022-10-19 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=70bcd047-7010-4dea-ba5f-45b11e143d4f.pdf) |
| 2022-10-17 | [Board Meeting Outcome for Intimation Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2022 Pursuant To Regulation 33 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 (SEBI (LODR)).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=95460e15-6b1a-46d6-9526-774a966c032a.pdf) |
| 2022-10-17 | [Intimation Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2022 Pursuant To Regulation 33 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 (SEBI (LODR)).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=faf22c55-ca81-46c7-a80f-71f0034c9d79.pdf) |
| 2022-10-17 | [Intimation Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2022 Pursuant To Regulation 33 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 (SEBI (LODR)).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=74f4368a-d7a1-45a6-bff1-3e42ca703da7.pdf) |
| 2022-10-10 | [Board Meeting Intimation for Intimation Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3a437ba0-7b90-4c0d-87e6-469390c34043.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_PIONDIST_2010_2011_25102011052525.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_PIONDIST_2009_2010_01092010120000.zip) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport//76482531879.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport//70911531879.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport//66639531879.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport//5318790319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport//5318790318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport//5318790317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport//5318790316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport//5318790315.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:45:19.282Z.