Globus Spirits froze at 5% lower circuit after September quarter

Globus Spirits froze at 5% lower circuit after September quarter

Shares of Globus Spirits were closed 5 per cent lower circuit at Rs 1,151.65 on the BSE on Monday after the company reported 90 per cent lower capacity utilization on a quarter-on-quarter (QoQ) basis in the September quarter (Q2FY22). , This was due to the unplanned shutdown at the Bihar facility due to floods and the planned shutdown for maintenance in the Haryana and West Bengal facilities. The company said that the bandh caused a loss of contribution of Rs 25 crore.

Globus Spirits reported a 52 per cent YoY jump (PAT) in its Consolidated Profit After Tax (PAT) at Rs 52.50 crore on account of higher sales. Lower finance costs due to reduced debt and lower cost of credit (5.95 per cent after subvention) further supported the increase in net profit.

The company’s gross revenue during the quarter grew 30 per cent to Rs 594 crore, mainly supported by higher growth in consumer business (net revenue of Rs 181 crore in Q2FY22), led by increasing share of value plus segment liquor. Cause happens.

“Earnings before interest, taxes, depreciation, amortization (Ebitda) margin increased by 412 basis points (bps) to 23.3 per cent in Q2FY22 and remained within the expected range due to higher share of value plus liquor segment in consumer business and better realization,” the company said.

It further said that it has received a 10-year long-term commitment of ethanol for about 260 KL for the states of Haryana, Jharkhand, West Bengal and Odisha.

“The company plans to launch Black Lace Rum and a Whiskey brand in Rajasthan and two new IMIL brands in the state of Haryana in the third quarter of FY22. It plans to re-introduce the Goldie IMIL brand in WB. and a few other IMIL brands have been launched in Q3FY22. ICICI Securities said in a note, the on-going of its WB manufacturing unit (capacity will increase by 25 per cent) and CAPEX program (with respect to marketing its premium brands). Will continue to be the major trigger to see the track closing.

With today’s 5 per cent decline, the stock of Globus Spirits has registered a decline of 24 per cent from its 52-week high of Rs 1,509 on October 12, 2021. As of 11:09 pm, a combined 1.2 million equity shares had changed hands and sale orders for 24,000 shares were pending on NSE and BSE.

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