@vinayak krishnan
Yes it's possible but we need to prepare unique values(ex: uuid is unique for each flowfile) for the Cache Entry Identifiers.
Also based on cache update strategy property determines when the already cache entry identifier appears again
Cache update strategy | replace | - Replace if present
 - Keep original

| Determines how the cache is updated if the cache already contains the entry |
Property value set to replace then the new value will be replaced to already existing for the cache entry identifier.
Property value set to Keep original then we Adds the specified entry to cache only if the key doesn't exist.
For your reference to this link how to set up unique values for Cache Entry Identifiers.
in the above link i have used update attribute processor to change the filename to UUID and then used ${filename} as Cache Entry Identifier, Like that way you can prepare your attribute (or) use ${UUID()} as the identifier.Then in Fetch Distribute Cache we need to have same key to fetch the cached value for the same identifier.