Globus Spirits

₹766.1 -7.6 | 1%

WEBSITE BSE:533104 NSE : GLOBUS SPR 10 May, 16:01

Market Cap ₹2212 Cr.

Stock P/E 16.7

P/B 2.3

Current Price ₹766.1

Book Value ₹ 335.4

Face Value 10

52W High ₹1326.3

Dividend Yield 0.78%

52W Low ₹ 656.1

Edit Ratio

Globus Spirits Research see more...

Overview Inc. Year: 1993Industry: Breweries & Distilleries

Globus Spirits Ltd is an primarily India based alcoholic drinks corporation. The Company is engaged in manufacturing, advertising and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), Bulk Alcohol and agreement bottling for set up IMFL brands. The Company operates thru the Industrial and Potable Alcohol commercial enterprise section. The Company's IMIL brands include Nimboo, Ghoomar, Heer Ranjha and Narangi. Its IMFL brands comprises Country Club, French Castle, Hannibal Legendary and White Lace. The Company offers IMFL bottling offerings to diverse brands, together with Bagpiper Whisky, Moghul Monarch, Derby Special and Officer's Choice Whisky. It operates approximately three distilleries at Samalkha and Hisar, Haryana, Behror, Rajasthan. The Company has over 90 million bulk liters of grain-based distillery capacity. The Company exports its merchandise to Europe, Africa, the Middle-East Asia and Far-East.

Globus Spirits Share Price

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Peer Comparison

Globus Spirits Quarterly Results

#(Fig in Cr.)	Mar 2018	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	222	594	545	654	683	633	809	697	751	739
Other Income	1	2	2	2	2	2	1	3	2	4
Total Income	223	596	547	656	685	636	810	700	753	743
Total Expenditure	204	506	487	570	614	589	750	624	679	702
Operating Profit	19	89	61	86	70	47	60	76	74	41
Interest	7	2	2	3	2	3	5	7	6	7
Depreciation	9	10	10	11	13	13	15	16	16	16
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	3	77	48	72	56	32	40	53	52	17
Provision for Tax	1	24	17	24	18	9	13	17	13	4
Profit After Tax	1	53	31	49	37	22	27	36	39	13
Adjustments	-1	0	0	0	0	0	0	0	0	0
Profit After Adjustments	0	53	31	49	37	22	27	36	39	13
Adjusted Earnings Per Share	0.5	18.2	10.6	16.9	12.9	7.7	9.4	12.4	13.5	4.5

Globus Spirits Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	502	496	586	707	774	855	984	1163	1231	1579	2109	2996
Other Income	5	3	4	4	5	6	8	5	7	7	8	10
Total Income	507	499	590	711	779	861	992	1168	1237	1586	2117	3006
Total Expenditure	431	452	537	637	719	786	890	1030	976	1251	1863	2755
Operating Profit	75	48	53	74	60	75	102	138	262	335	253	251
Interest	6	10	14	17	18	27	26	24	19	11	17	25
Depreciation	16	28	29	42	27	36	36	38	41	43	56	63
Exceptional Income / Expenses	0	-6	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	52	3	10	15	16	12	40	77	202	281	180	162
Provision for Tax	18	-1	3	2	-0	5	9	17	58	94	58	47
Profit After Tax	34	4	7	13	16	7	31	59	144	187	122	115
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	34	4	7	13	16	7	31	59	144	187	122	115
Adjusted Earnings Per Share	14.8	0.5	1.9	4.4	5.6	2.4	10.6	20.6	50	65	42.4	39.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	34%	22%	20%	15%
Operating Profit CAGR	-24%	22%	28%	13%
PAT CAGR	-35%	27%	77%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-10%	35%	41%	27%
ROE Average	15%	23%	18%	11%
ROCE Average	19%	28%	22%	14%

Globus Spirits Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	350	351	355	364	372	379	410	469	591	772	887
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	33	20	50	159	175	143	169	133	107	109	111
Other Non-Current Liabilities	83	95	93	95	75	80	28	35	60	99	129
Total Current Liabilities	211	175	193	181	224	224	181	194	269	307	492
Total Liabilities	677	641	690	799	846	827	788	831	1027	1287	1618
Fixed Assets	415	415	460	434	632	609	574	569	579	670	826
Other Non-Current Assets	86	111	120	246	95	95	65	88	111	180	256
Total Current Assets	176	115	109	119	119	123	149	174	338	438	537
Total Assets	677	641	690	799	846	827	788	831	1027	1287	1618

Globus Spirits Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	5	29	5	5	7	2	2	2	19	48	26
Cash Flow from Operating Activities	79	34	61	75	71	56	61	154	142	219	128
Cash Flow from Investing Activities	-112	-58	-95	-166	-77	-10	-14	-59	-98	-218	-211
Cash Flow from Financing Activities	57	-0	34	93	0	-47	-47	-77	-15	-24	85
Net Cash Inflow / Outflow	24	-25	0	3	-5	-1	-0	18	29	-23	2
Closing Cash & Cash Equivalent	29	5	5	7	2	2	2	20	48	26	28

Globus Spirits Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	14.82	0.45	1.87	4.35	5.61	2.44	10.61	20.6	50	65.01	42.43
CEPS(Rs)	22.03	14.24	12.43	18.99	14.94	15.01	23.15	33.74	64.12	79.79	61.98
DPS(Rs)	1.2	0	0	0	0	0	0	1	2	3	6
Book NAV/Share(Rs)	120.48	120.69	123.29	126.23	129.27	131.73	142.37	162.81	205.1	268.14	307.54
Core EBITDA Margin(%)	10.97	6.79	5.51	7.04	5.01	7.44	8.78	10.61	15.26	14.02	8.7
EBIT Margin(%)	9.16	2.03	2.76	3.18	3.02	4.15	6.15	7.97	13.22	12.49	6.98
Pre Tax Margin(%)	8.15	0.49	1.16	1.48	1.44	1.24	3.7	6.1	12.1	12	6.38
PAT Margin (%)	5.34	0.65	0.8	1.26	1.46	0.75	2.85	4.73	8.61	7.99	4.33
Cash Profit Margin (%)	7.91	4.95	4.05	5.51	3.88	4.64	6.21	7.75	11.04	9.81	6.33
ROA(%)	5.81	0.65	1.06	1.68	1.96	0.84	3.79	7.33	15.51	16.18	8.41
ROE(%)	13.04	1.54	2.23	3.49	4.39	1.87	7.74	13.5	27.18	27.48	14.74
ROCE(%)	14.84	3.02	5.12	5.66	5.31	6.07	10.4	15.55	31.23	34.12	18.7
Receivable days	33.38	30.09	17.64	13.9	11.98	16.37	16.3	11.18	12.79	16.04	21.3
Inventory Days	23.21	22.09	19.73	16.81	17.99	25.1	22.31	24.54	21.83	16.4	17.22
Payable days	139.46	133.83	120.65	101.38	68.51	70.23	57.86	50.69	62.08	56.27	51.82
PER(x)	6.48	170	22.73	15	13.6	47.91	13.04	4.1	6.35	23.54	18.29
Price/Book(x)	0.8	0.63	0.35	0.52	0.59	0.89	0.97	0.52	1.55	5.71	2.52
Dividend Yield(%)	1.25	0	0	0	0	0	0	1.18	0.63	0.2	0.77
EV/Net Sales(x)	0.69	0.69	0.44	0.59	0.63	0.68	0.64	0.34	0.84	2.85	1.17
EV/Core EBITDA(x)	4.61	7.15	4.9	5.62	8.1	7.82	6.14	2.91	3.95	13.44	9.77
Net Sales Growth(%)	-1.02	-1.05	17.96	20.67	9.56	10.44	15.11	18.16	5.82	28.31	33.56
EBIT Growth(%)	-6.21	-77.12	81.44	29.59	6.11	15.47	70.8	51.42	121.03	32.36	-32.66
PAT Growth(%)	-16.4	-87.49	65.26	77.41	28.76	-56.49	335.16	94.03	142.77	30.04	-34.74
EPS Growth(%)	-16.67	-96.96	315.49	132.53	28.76	-56.49	335.15	94.03	142.77	30.03	-34.74
Debt/Equity(x)	0.25	0.29	0.41	0.7	0.73	0.66	0.56	0.38	0.3	0.23	0.31
Current Ratio(x)	0.83	0.66	0.57	0.66	0.53	0.55	0.83	0.89	1.25	1.42	1.09
Quick Ratio(x)	0.67	0.4	0.31	0.43	0.23	0.28	0.44	0.39	0.87	1.07	0.77
Interest Cover(x)	9.04	1.32	1.73	1.87	1.91	1.43	2.51	4.25	11.74	25.6	11.58
Total Debt/Mcap(x)	0.39	0.58	1.18	1.35	1.24	0.75	0.58	0.73	0.2	0.04	0.12

Globus Spirits Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	50.9	51.01	51.01	51.01	51.01	51.01	51.01	51.02	50.98	50.98
FII	4.88	4.86	4.83	4.75	4.83	4.75	4.76	5.72	4.65	4.89
DII	1.4	2.12	1.6	1.68	2.94	5.48	8.93	3.87	1.63	0.98
Public	42.81	42.01	42.56	42.56	41.22	38.76	35.3	39.4	42.74	43.15
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47
FII	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.16	0.13	0.14
DII	0.04	0.06	0.05	0.05	0.08	0.16	0.26	0.11	0.05	0.03
Public	1.23	1.21	1.23	1.23	1.19	1.12	1.02	1.13	1.23	1.24
Others	0	0	0	0	0	0	0	0	0	0
Total	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88

Pros

Company has delivered good profit growth of 77% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 23%
Debtor days have improved from 56.27 to 51.82days.
Company is almost debt free.

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.