Any current/future new fundraising through debt or equity?

No specific mention of any current or planned new fundraising through debt or equity in the Q2 FY ‘24 earnings call. The company has reduced net debt by INR 37 crores recently, indicating focus on deleveraging rather than raising new debt (Page 4). Capital expenditure plans include capitalization of about INR 115 crores for ongoing projects during the current financial year, with no explicit announcement of raising funds to support this (Page 10). No direct reference to any equity fundraising or issuing new shares in the call transcript. Overall, the discussion focuses on operational improveme

Any current/future capex/capital investment/strategic investment?

Capital Work in Progress (CWIP) closing balance for September: INR 155 crores. Expected capitalization in the current year: Approximately INR 100 crores for the 120 KLPD (60 KLPD each in Bengal and Jharkhand plants). Additional capitalization of INR 10-15 crores for other upgradation works. Total expected capitalization in H2 FY24: Around INR 115 crores. Focus on capacity expansion and energy efficiency projects to reduce production costs by about 5%. Upgrading boiler technology in Haryana plant, expected completion by end of Q4 to keep fuel costs low. Initiatives underway for direct farmer pu

Future growth expectations in earnings/operating earnings/profits/EPS?

Q3 utilization is expected to improve to 80-85% from 70% in Q2, with Q4 targeting 95%, supporting revenue and profit growth. Raw material costs, especially grain, are anticipated to reduce from December due to new crop arrivals, easing margin pressures. Ethanol prices likely to remain stable with no significant increase expected soon, helping cost predictability. Q3 profitability expected to be similar per unit as Q2 but overall better due to higher capacity utilization and no production losses. Consumer business growth, especially in premium and super premium segments, is strong with expandin

Globus Spirits LtdQ2 FY24Beverages

Globus Spirits Ltd Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹787P/E: 26.1Market Cap: ₹2.6K CrSector: Beverages

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Future growth expectations for Globus Spirits Limited in sales, revenue, and volumes are as follows: - **Consumer Business Growth**: Consumer segment revenues up 24% YoY in Q2 FY24, with volume growth of 12% YoY in value and value plus segments. - **Premium Segment Expansion**: Premium volumes in Q2 FY24 grew 143% YoY and 68% QoQ, contributing 6.1% of consumer revenues. - **New Market Entry**: Plans to enter Rajasthan in Q3 FY24 and Jharkhand in Q4 FY24, adding new states to the existing strong presence in West Bengal, Delhi, Haryana, UP, and Punjab. - **Product Innovation**: Launch of premium rum in Q1 FY25 and super-premium malt whiskey in Q4 FY24 expected to drive growth. - **Capacity Utilization**: Expected to increase capacity utilization to 80-85% in Q3 and 95% in Q4 FY24. - **Volume Growth Dependent on Brands**: Growth linked to the performance of key brands like McDowell’s and Royal Challenge. - **IMFL Business Target**: Aim to increase IMFL share to 20% of consumer business revenue.

Margin guidance

Category 3

Q3 utilization is expected to improve to 80-85% from 70% in Q2, with Q4 targeting 95%, supporting revenue and profit growth.
Raw material costs, especially grain, are anticipated to reduce from December due to new crop arrivals, easing margin pressures.
Ethanol prices likely to remain stable with no significant increase expected soon, helping cost predictability.
Q3 profitability expected to be similar per unit as Q2 but overall better due to higher capacity utilization and no production losses.
Consumer business growth, especially in premium and super premium segments, is strong with expanding state presence.
Price increases in consumer business may come around Feb-Apr 2024, aiding margin recovery in FY25.
Annual IMFL EBITDA loss projected around INR 20-25 crores, expected to reduce as volumes grow.
Long-term margin sustainability depends on successful consumer business growth and raw material price stabilization.

See what Globus Spirits Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

No specific mention of any current or planned new fundraising through debt or equity in the Q2 FY ‘24 earnings call.
The company has reduced net debt by INR 37 crores recently, indicating focus on deleveraging rather than raising new debt (Page 4).
Capital expenditure plans include capitalization of about INR 115 crores for ongoing projects during the current financial year, with no explicit announcement of raising funds to support this (Page 10).
No direct reference to any equity fundraising or issuing new shares in the call transcript.
Overall, the discussion focuses on operational improvements, capacity utilization, and cost management rather than fundraising activities.

Order book

The transcript and presentation from Globus Spirits Limited's Q2 FY24 earnings call do not explicitly mention the current or expected order book or pending orders. However, relevant operational and business outlook points include: - Expansion projects in Bengal and Jharkhand (120 KL capacity each) are awaiting regulatory approvals to commence operations. - Utilization levels expected to rise from 78% to around 80-85% in Q3 and reach 95% in Q4, indicating expected increases in production/orders. - Premium segment volumes in Q2 FY24 grew significantly, showing strong demand prospects. - The company is focused on expanding presence in select states with new product launches, likely driving order growth. - Raw material and ethanol supply disruptions have been managed, and new crop impacts expected from December should improve cost structure and operational efficiency. No specific numerical data on order book or pending orders is provided in the call.

See what Globus Spirits Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Capital Work in Progress (CWIP) closing balance for September: INR 155 crores.
Expected capitalization in the current year: Approximately INR 100 crores for the 120 KLPD (60 KLPD each in Bengal and Jharkhand plants).
Additional capitalization of INR 10-15 crores for other upgradation works.
Total expected capitalization in H2 FY24: Around INR 115 crores.
Focus on capacity expansion and energy efficiency projects to reduce production costs by about 5%.
Upgrading boiler technology in Haryana plant, expected completion by end of Q4 to keep fuel costs low.
Initiatives underway for direct farmer purchases of maize to optimize raw material sourcing.
Long-term strategy includes building capability to use maize alongside rice to enhance raw material flexibility.

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Globus Spirits Ltd Q2 FY24 Earnings Call Analysis

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Fundraise plans

Capex plans

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