Company Intelligence Profile
S.P.Y. Agro Industries Limited
Hyderabad-based grain (maize) ENA distillery and IMFL bottler, part of the Nandi Group industrial conglomerate.
Last updated 11 August 2026
S.P.Y. Agro Industries Limited, part of the Hyderabad-based Nandi Group, specializes in grain-based Extra Neutral Alcohol (ENA) distillation and IMFL bottling. The company operates a 400 MT/day maize processing plant and plans major expansions in ENA output and IMFL bottling capacity. The latest revenue reported was ₹821.74 Cr, although down by 14.42% year-over-year.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
| Registered name | S.P.Y. Agro Industries Limited |
|---|---|
| CIN | U01100TG2005PLC045887 |
| PAN | AAJCS0911J |
| Status | Active (unlisted public limited company) |
| Listing | Not listed on any stock exchange — confirmed as "unlisted public company". |
| Incorporated | 13 April 2005 |
| ROC | RoC Hyderabad / Telangana |
| Sector (NIC) |
|
| Registered address | D. No. 8-3-833/188, Plot No. 188, 1st Floor, Phase-II, Kamalapuri Colony, Hyderabad, Telangana 500073 |
| Authorized capital | ₹68.0 Cr |
| Paid-up capital | ₹53.0–53.01 Cr |
Business Overview
- S.P.Y. Agro Industries Ltd is part of the Hyderabad-based Nandi Group conglomerate, founded by Chairman Mr. S.P.Y. Reddy under the philosophy "Business with a human face" (spyagro.com)
- Core business is grain-based Extra Neutral Alcohol (ENA) distillation, with a 400 MT/day corn (maize) processing plant extracting gluten/protein, corn oil, and fibre for animal feed; captive power generation (steam boilers/turbines, ~19.5 MW planned capacity); an in-house CNC tool room; and effluent treatment (digesters, activated sludge, RO)
- The company has stated expansion plans to scale ENA output to 500 KL/day and build what it describes as one of India's largest IMFL (Indian Made Foreign Liquor) bottling facilities (~1.25 million cases/month), plus plans for malt-spirit and whisky maturation
- The broader Nandi Group also operates in cement, PVC pipes/fittings and water tanks, dairy, and infrastructure — S.P.Y. Agro is the group's alcohol/agro-processing arm
- Source: company website (spyagro.com/about.html); sector classification cross-checked against Tofler/TheCompanyCheck
Directors
Two sources broadly agree on the same five directors but conflict on who holds the Managing Director title — flagged as a source conflict:
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Sannapu Reddy Sujala | 01796982 | - | - |
| Sajjala Sreekanth Reddy | 09189347 | - | - |
| Parvathi Sannapureddy | 02393630 | Director | - |
| Angitapalli Sreenivasulureddy | 02956004 | Director | - |
| Annapureddy Venkataramireddy | 10692797 | Director | - |
GST / GSTIN
Primary GSTIN number: not obtained (no reliable source returned the actual 15-digit GSTIN despite attempts via KnowYourGST, FindGST, MastersIndia — none had a matching public record; GST portal itself is not fetchable). PAN confirmed as AAJCS0911J (Tofler). Home state: Telangana (inferred from registered address/RoC, not from a GSTIN record itself). Number of registrations and per-registration status: not obtained.
Financials
Standalone financials (basis as filed with RoC; not stated explicitly as standalone vs consolidated by source but company has no listed subsidiaries found, so treated as standalone):
| Revenue | ₹821.74 Cr for the latest filed FY, down 14.42% YoY — single-source, not cross-confirmed with an absolute figure elsewhere. Tofler (for FY ended 31-Mar-2024) states only a banded estimate of "₹750–1000 Cr" / "over ₹500 Cr" without an exact figure (Pro-gated) |
|---|---|
| EBITDA | absolute value not obtained; YoY growth stated as +26.39% |
| PAT (Net Profit) | absolute value not obtained; YoY growth stated as +246.54% |
| Net Worth | absolute value not obtained; YoY growth stated as +46.66% |
| Total Borrowings | absolute value not obtained; YoY growth stated as +22.62% |
| Ratios | Net Profit Margin 5.56%; Operating Margin 1.64%; Return on Equity 18.35%; Debt-to-Equity -0.09 (unusual/likely data artifact — flagged, not verified) |
Overall confidence: partial — key absolute rupee figures are gated behind paid subscriptions on both sources; only one source gave a hard revenue number and it is not cross.
Funding
- No equity/VC funding rounds found
- Debt funding identified via charge filings: ₹250 Cr raised through what appears to be an NCD/structured-debt issuance with Catalyst Trusteeship Limited as debenture trustee, registered in three tranches — ₹120 Cr (17-Feb-2025), ₹60 Cr (04-Feb-2025), ₹70 Cr (06-Jan-2025)
- This is debt, not equity funding, and no rating for this issuance was found (see credit_ratings)
Charges / Loans
- Open charges total: ₹263.75 Cr
- Satisfied (historical, closed) charges total: ₹526.36 Cr
- Recent open charges (2025), charge holder — Catalyst Trusteeship Limited (debenture trustee), "Others" category: ₹120 Cr (17-Feb-2025), ₹60 Cr (04-Feb-2025), ₹70 Cr (06-Jan-2025) — total ₹250 Cr
- Older charges: Andhra Pradesh State Financial Corporation — ₹11.05 Cr (₹4 Cr on 22-Feb-2012, ₹7 Cr on 06-Nov-2009); Andhra Bank — ₹2.70 Cr (18-Apr-2011)
Legal / Litigation
- approximately 98 total matching results
- case list is dominated by routine indirect-tax/GST and customs litigation, e.g. "S.P.Y. Agro Industries Limited vs Union of India" and "S.P.Y. Agro Industries Limited vs Assistant Commissioner of Central Tax" (Andhra Pradesh High Court, Amravati, various dates 2020–2022), plus more recent state-tax matters against the State of Telangana, State of Karnataka, and State of Andhra Pradesh (2026)
- No criminal, insolvency/NCLT, or fraud-related matters were identified in the visible result set; full case-by-case verification was not performed given the volume (~98 hits)
Competitors
Analyst-compiled list of grain-based ENA/IMFL peers:
- Globus Spirits Ltd — listed, larger scale (~₹2,000+ Cr revenue), grain-based ENA + IMFL
- Radico Khaitan Ltd — listed, much larger/national IMFL player (~₹3,500+ Cr revenue)
- Piccadily Agro Industries Ltd — listed, broadly similar scale (~₹800–900 Cr revenue), grain-based distillery + malt
- Associated Alcohols & Breweries Ltd — listed, smaller-to-similar scale (~₹600–700 Cr revenue)
- GM Breweries Ltd — listed, smaller, country-liquor/ENA focus (~₹600–700 Cr revenue)
- Empee Distilleries Ltd — unlisted, South-India regional peer, comparable/smaller scale, financially stressed in recent years
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