Operates a distillery-led spirits business split into three segments: bulk alcohol manufacturing, premium branded spirits under Prestige & Above (P&A), and mass-market branded spirits under Regular & Others (R&O). Manufacturing produces Extra Neutral Alcohol (ENA) and ethanol with installed capacity of about 334 mn litres; Q1 FY27 ran at 89% capacity utilisation with 56.11 mn litres of sales volume and EBITDA per litre of INR 6.5-6.6, supplying fuel blenders for India's ethanol blending programme and industrial buyers. The P&A consumer segment sells premium brands including Terai, Snoski and Brothers & Co; Q1 FY27 revenue grew 35% YoY to INR 550 mn on 0.42 mn cases sold. The R&O consumer segment sells mass-market liquor through state retail networks; Q1 FY27 revenue rose 10% YoY to INR 2,564 mn on 4.48 mn cases, with Uttar Pradesh emerging as the structural growth engine at 0.2 mn cases per month. Material inputs are the largest cost line at 50.9% of FY26 revenue, driven by agricultural feedstock (molasses and grain) plus glass and PET packaging that has seen 10-17% inflation. Net debt stood at INR 650 cr in Q1 FY27, down from INR 660 cr at March-end 2026, and CARE Ratings has reaffirmed A+ Stable on the long-term bank facilities. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing (ENA / ethanol), Prestige & Above (P&A), Regular & Others (R&O). Asset-heavy integrated distiller with both B2B bulk alcohol (ENA/ethanol) and B2C branded spirits in the Indian alco-bev market.
| ₹ crore · consolidated | FY20 | FY21 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,267 | 1,672 | 3,147 | 3,519 | 3,613 |
| EBITDA (ex other income) | 125 | 255 | 169 | 151 | 258 |
| margin % | 9.8 | 15.2 | 5.4 | 4.3 | 7.2 |
| Owners' profit | 50 | 141 | 96 | 23 | 92 |
| EPS, as reported (₹) | 17.33 | 48.90 | 33.32 | 7.59 | 31.70 |
| ROE % · ROCE % | 11.1 · 14.7 | 24.1 · 29.2 | 9.9 · 10.1 | 2.2 · 6.3 | 8.4 · 12.6 |
| Debt / equity (x) | 0.31 | 0.23 | 0.33 | 0.52 | 0.47 |
| Cash from operations | — | — | 170 | 67 | 268 |
| Capex | — | — | (176) | (208) | (191) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 875 | 883 | 875 | 952 | 1,823 | 938 | 851 | 1,152 |
| Profit before tax | 2 | 1 | 9 | 23 | 50 | 42 | 30 | 37 |
| Net profit | 1 | 0 | 5 | 18 | 39 | 30 | 21 | 26 |
| EPS (₹) | 0.45 | 0.14 | 1.70 | 6.16 | 13.74 | 10.59 | 7.37 | 9.14 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| UNITED SPIRITS LIMITED | 1,01,138 | 52.6 | 11.29 | 37.5 | 20.5 | 23.1 | 0.3 | 6.9 |
| RADICO KHAITAN LTD | 58,503 | 70.1 | 17.64 | 57.8 | 18.2 | 22.1 | 15.1 | 6.0 |
| UNITED BREWERIES LTD | 33,182 | 83.9 | 7.33 | 37.4 | 9.1 | 12.1 | 11.4 | 5.6 |
| ALLIED BLEND N DISTILS L | 17,790 | 81.2 | 10.55 | 33.3 | 13.1 | 17.8 | — | 6.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Corrigendum to Annual Report FY 2025-26: UDIN number corrections | general | low | — | — |
| 9 Sept 2026 · Globus Spirits to meet institutional investors on September 15 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Record date set for final dividend | corporate actions | medium | — | — |
| 27 Aug 2026 · Globus Spirits to meet institutional analysts on Sept 2 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Globus Spirits to meet investors at Elara Ashwamedh Conference on 3 Sept | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Globus Spirits to meet Fidelity International on Sept 1 via Zoom | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Globus Spirits to meet River Global on 31 Aug 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Globus Spirits to meet Maximal Capital on 28 Aug | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Notice of 33rd AGM on Sep 15, 2026 with dividend and ESOP proposals | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Globus Spirits wins full relief in income tax appeals for AY 2014-17 | regulatory legal | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| TILAKNAGAR INDUSTRIES LTD | 12,916 | — | 4.33 | 70.3 | 0.7 | 0.4 | 29.9 | 6.4 |
| PICCADILY AGRO INDUSTRI L | 5,917 | 41.8 | 6.57 | 26.7 | 15.3 | 17.5 | 18.3 | 17.3 |
| GLOBUS SPIRITS LTD ◆ | 2,443 | 20.6 | 2.24 | 10.9 | 8.4 | 8.5 | 16.7 | 6.9 |
| G M BREWERIES LTD | 2,077 | 22.6 | 1.93 | 9.8 | 14.5 | 19.0 | — | 6.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.6 | 23.8 | 10 of 24 | 61% |
| P/B | 2.2 | 2.2 | 13 of 25 | 50% |
| ROCE | 8.5 | 3.7 | 11 of 26 | 60% |
| ROE | 8.4 | 5.6 | 12 of 25 | 54% |
| Debt / Equity | 0.5 | 0.5 | 11 of 25 | 58% |
| EBITDA margin | 6.9 | 6.4 | 8 of 23 | 68% |
| Revenue growth | 21.1 | 10.2 | 7 of 22 | 71% |
| Profit growth | 49.7 | 6.1 | 5 of 23 | 82% |
| Market cap | 2443 | 858 | 7 of 26 | 76% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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