Globus Spirits Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,312 Cr
- P/E
- 22.99
- ROE
- 8.76%
- PEG
- -2.48
- Price to sales
- 0.82
- Debt to equity
- 0.48
- 52W high / low
- ₹1,193 / ₹711
- Sales growth (5Y)
- 17.23%
- EBITDA margin
- 9.95%
- Net profit margin
- 3.34%
- Promoter holding
- 46.74%
- Sales (last year)
- ₹2,799 Cr
Globus Spirits Limited, established in 1992 is primarily engaged in the business of manufacture and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), Bulk Alcohol hand sanitizer, and Franchise Bottling. It has a unique 360⁰ model straddling across the entire alcohol value chain. It is the 1st to set up a grain distillery and launch branded DDGS in India. [1] [2] [3]
Guidance scorecard · Q2 FY27 call
What Globus Spirits Ltd's management guided
and where it ranks in Beverages
RevenueQ1 FY27 call
10–20%- UP R&O volumes are scaling well, having grown 2.4 times YoY and crossing 0.2 million cases per month; expected to continue high growth but precise quarterly increments are uncertain.
- The company targets expanding from 5 core states to 10 core states in the next couple of years, focusing on profitable and sustainable market growth.
- P&A (prestige and above) segment revenue grew 35% YoY with volumes up 45% YoY; aiming for continued scaling with market depth and brand strength.
- Manufacturing capacity utilization at UP plant is about 25% captive currently, with ongoing optimization expected.
- Overall consumer portfolio growth is driven by geographical expansion, deeper distribution, and improved market execution.
2 more points from Globus Spirits Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Globus Spirits Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
None planned- Globus Spirits does not have any major capacity expansion planned beyond maintenance capex.
- Annual maintenance capex guidance is about INR 50-60 crores.
- The company runs at about 85% utilization, currently around 90%, with no immediate need for capacity expansion.
- Capacity stands at approximately 334 million litres.
- Free cash flow from manufacturing and R&O businesses has funded P&A business growth and will continue to do so.
- No additional capex planned for ENA/ethanol capacity expansion as part of FY29 strategy.
2 more points from Globus Spirits Ltd's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Globus Spirits Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Globus Spirits Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Beverages
on management's own guidance
- Varun BeveragesGood growth2
- Strong growth1
- FratelliVineyardGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Beverages companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹5,815 Cr | 41.4 | |
| 2 | Varun Beverages | 20–40% | Flat | ₹1.46L Cr | 43.0 |
| 3 | FratelliVineyard | 20–40% | Flat | ₹537 Cr | — |
| 4 | 10–20% | Up 2%+ | ₹19,866 Cr | 89.0 | |
| 5 | 10–20% | Up 2%+ | ₹13,672 Cr | 60.5 | |
| 6 | 10–20% | Flat | ₹31,771 Cr | 91.9 |
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Pro shows every company guiding 40%+ revenue growth →Full Beverages rankingFinancials of Globus Spirits Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Globus Spirits Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2021 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 371 | 570 | 567 | 687 | 590 | 642 | 638 | 602 | 655 | 700 | 661 | 717 | 632 |
| Expenses + | 272 | 498 | 530 | 648 | 570 | 595 | 608 | 568 | 616 | 642 | 602 | 642 | 566 |
| Operating Profit | 98 | 72 | 38 | 40 | 20 | 48 | 30 | 34 | 39 | 57 | 59 | 75 | 67 |
| OPM % | 26% | 13% | 7% | 6% | 3% | 7% | 5% | 6% | 6% | 8% | 9% | 10% | 11% |
| Other Income + | 1 | 2 | 4 | 3 | 5 | 2 | 2 | 2 | 4 | 2 | 3 | 3 | 5 |
| Interest | 4 | 6 | 7 | 7 | 6 | 9 | 9 | 14 | 13 | 15 | 14 | 13 | 16 |
| Depreciation | 10 | 16 | 16 | 17 | 17 | 20 | 20 | 21 | 21 | 22 | 22 | 22 | 25 |
| Profit before tax | 85 | 52 | 17 | 19 | 2 | 21 | 2 | 1 | 9 | 23 | 26 | 42 | 30 |
| Tax % | 34% | 25% | 25% | -131% | 97% | 28% | 38% | 65% | 44% | 23% | 12% | 26% | 29% |
| Net Profit + | 56 | 39 | 13 | 44 | 0 | 15 | 1 | 0 | 5 | 18 | 22 | 30 | 21 |
| EPS in Rs | 19.33 | 13.46 | 4.53 | 15.41 | 0.09 | 5.48 | 0.49 | 0.19 | 1.92 | 6.16 | 7.58 | 10.58 | 7.34 |
Financials of Globus Spirits Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 586 | 706 | 774 | 853 | 987 | 1,167 | 1,224 | 2,103 | 2,415 | 2,537 | 2,710 |
| Expenses + | 537 | 639 | 720 | 785 | 899 | 1,042 | 969 | 1,857 | 2,245 | 2,385 | 2,452 |
| Operating Profit | 49 | 67 | 54 | 68 | 89 | 125 | 255 | 246 | 170 | 152 | 258 |
| OPM % | 8% | 9% | 7% | 8% | 9% | 11% | 21% | 12% | 7% | 6% | 10% |
| Other Income + | 4 | 4 | 5 | 5 | 7 | 4 | 7 | 8 | 14 | 10 | 13 |
| Interest | 14 | 17 | 18 | 27 | 26 | 24 | 19 | 17 | 27 | 47 | 58 |
| Depreciation | 29 | 42 | 27 | 36 | 36 | 38 | 41 | 56 | 66 | 82 | 92 |
| Profit before tax | 10 | 12 | 14 | 10 | 33 | 67 | 202 | 180 | 91 | 33 | 121 |
| Tax % | 33% | 18% | -1% | 44% | 28% | 26% | 30% | 32% | -6% | 34% | 23% |
| Net Profit + | 7 | 10 | 14 | 6 | 24 | 50 | 141 | 122 | 96 | 22 | 91 |
| EPS in Rs | 2.34 | 3.49 | 5.03 | 2.00 | 8.45 | 17.33 | 48.90 | 42.43 | 33.47 | 8.05 | 31.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 4% | 14% | 10% | 34% | 21% |
Financials of Globus Spirits Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| Reserves | 326 | 332 | 339 | 345 | 369 | 418 | 557 | 858 | 943 | 964 | 1,062 |
| Borrowings + | 144 | 253 | 272 | 252 | 230 | 181 | 187 | 291 | 329 | 527 | 527 |
| Other Liabilities + | 146 | 133 | 155 | 146 | 141 | 171 | 221 | 413 | 465 | 574 | 630 |
| Total Liabilities | 644 | 746 | 794 | 771 | 769 | 799 | 993 | 1,590 | 1,766 | 2,093 | 2,249 |
| Fixed Assets + | 460 | 434 | 632 | 609 | 574 | 569 | 579 | 826 | 957 | 1,019 | 1,249 |
| CWIP | 31 | 131 | 0 | 0 | 12 | 30 | 48 | 99 | 90 | 150 | 37 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Other Assets + | 153 | 181 | 162 | 162 | 183 | 201 | 366 | 665 | 719 | 925 | 956 |
| Total Assets | 644 | 746 | 794 | 771 | 769 | 799 | 993 | 1,590 | 1,766 | 2,093 | 2,249 |
Financials of Globus Spirits Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 61 | 50 | 67 | 56 | 31 | 135 | 148 | 102 | 168 | 67 | 268 |
| Cash from Investing Activity + | -95 | -141 | -72 | -10 | -14 | -37 | -87 | -197 | -163 | -208 | -185 |
| Cash from Financing Activity + | 34 | 94 | 0 | -47 | -17 | -80 | -23 | 71 | -6 | 142 | -88 |
| Net Cash Flow | 0 | 2 | -5 | -1 | -0 | 18 | 38 | -24 | -1 | 1 | -5 |
| Free Cash Flow | -36 | -74 | -8 | 34 | 1 | 96 | 59 | -104 | -7 | -141 | 70 |
| CFO/OP | 125% | 76% | 129% | 86% | 44% | 118% | 72% | 54% | 121% | 45% | 112% |
Financials of Globus Spirits Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 19 | 17 | 21 | 18 | 11 | 26 | 36 | 42 | 46 | 43 |
| Inventory Days | 52 | 37 | 53 | 43 | 47 | 54 | 57 | 46 | 47 | 54 | 58 |
| Days Payable | 81 | 64 | 81 | 68 | 58 | 55 | 66 | 60 | 79 | 111 | 50 |
| Cash Conversion Cycle | -5 | -8 | -11 | -5 | 8 | 9 | 17 | 22 | 10 | -10 | 52 |
| Working Capital Days | -56 | -46 | -51 | -43 | -9 | -9 | 3 | 2 | -8 | -15 | -9 |
| ROCE % | 5% | 5% | 6% | 10% | 14% | 32% | 9% | 6% | 11% |
Guidance history
How Globus Spirits Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | None planned | None planned | — |
| Q4 FY26 call → | 40%+ | Flat | Planned | None planned | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
8 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −32.2% | 20% |
| Last 6 months | −33.6% | 5% |
| Last 3 months | −16.5% | 25% |
The price is 57.3% below its all-time high of ₹1,720.5 (14 Jan 2022). Stocks more than 20% below their peak have their score halved, so 15 became 8.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Globus Spirits Ltd: 0.4 × 20 + 0.4 × 5 + 0.2 × 25 = 15, halved to 8 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Globus Spirits Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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