Is Globus Spirits a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Globus Spirits Ltd is a below average quality company .

Is Globus Spirits undervalued or overvalued?

The key valuation ratios of Globus Spirits Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Globus Spirits share price return in the past 10 years?

Globus Spirits Ltd share price has appreciated 25.2% annually (CAGR) over the past ten years.

Is Globus Spirits a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Globus Spirits Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Globus Spirits Ltd - Stock Valuation and Financial Performance

Name: Globus Spirits
Brand: Globus Spirits

BSE: 533104 | NSE: GLOBUSSPR | Breweries & Distilleries | Small Cap

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Globus Spirits Share Price

₹761.45 -6.15 -0.80%
as on 18-Apr'24 16:01

10 Year X-Ray of Globus Spirits:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	3.5%	3.5%	4.3%	4.4%	4%	7.7%	11.8%	22.2%	22.7%	12.7%	-
Value Creation Index ⓘ	-0.8	-0.8	-0.7	-0.7	-0.7	-0.5	-0.2	0.6	0.6	-0.1	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	497	586	707	774	855	984	1,163	1,231	1,579	2,109	3,064
Sales YoY Gr.	-	18%	20.7%	9.6%	10.4%	15.1%	18.2%	5.8%	28.3%	33.6%	-
Adj EPS ⓘ	3.7	2.3	4.2	5.4	2.2	10.6	20.6	49.9	64.9	42.3	45.9
YoY Gr.	-	-37.6%	85.2%	26.7%	-58.3%	371.9%	94.5%	142.9%	30%	-34.9%	-
BVPS (₹) ⓘ	120.7	123.3	126.2	129.3	131.7	142.4	162.8	205.1	268.1	307.5	336
Adj Net Profit ⓘ	8.4	6.6	12.2	15.5	6.5	30.5	59.2	144	187	122	132
Cash Flow from Ops. ⓘ	33.9	60.6	75.3	71.4	55.8	61.3	154	142	219	128	-
Debt/CF from Ops. ⓘ	3	2.4	3.4	3.8	4.5	3.8	1.2	1.3	0.8	2.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	17.4%	19.8%	22%	33.6%
Adj EPS ⓘ	31.2%	80%	27.2%	-34.9%
BVPSⓘ	11%	18.5%	23.6%	14.7%
Share Price	25.2%	39.9%	34.1%	-13.4%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	2.4	1.9	3.4	4.2	1.7	7.7	13.5	27.1	27.4	14.7	14.3
Op. Profit Mgn % ⓘ	9.1	8.4	9.9	7.2	8.1	9.6	11.4	20.7	20.8	11.6	7.3
Net Profit Mgn % ⓘ	1.7	1.1	1.7	2	0.8	3.1	5.1	11.7	11.8	5.8	4.3
Debt to Equity ⓘ	0.3	0.4	0.7	0.7	0.7	0.6	0.4	0.3	0.2	0.3	-
Working Cap Days ⓘ	111	79	73	68	82	69	55	57	61	71	34
Cash Conv. Cycle ⓘ	-9	-16	-12	-15	-4	1	2	-7	-5	4	2

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 21.95%

Net Profit is growing at healthy rate in last 3 years 27.17%

Sales growth is good in last 4 quarters at 10.39%

Return on Equity has declined versus last 3 years average to 14.30%

Latest Financials - Globus Spirits Ltd.

	Standalone	Consolidated
TTM EPS (₹)	45.9	61.7
TTM Sales (₹ Cr.)	3,064	1,931
BVPS (₹.) ⓘ	336	0
Reserves (₹ Cr.) ⓘ	940	657
P/BV ⓘ	2.28	0.00
PE ⓘ	16.73	12.44

From the Market
52 Week Low / High (₹)	656.10 / 1326.25
All Time Low / High (₹)	39.25 / 1760.00
Market Cap (₹ Cr.)	2,212
Equity (₹ Cr.)	28.8
Face Value (₹)	10
Industry PE ⓘ	72.5

Management X-Ray of Globus Spirits:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Globus Spirits

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Globus Spirits

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	496	586	707	774	855	984	1,163	1,231	1,579	2,109
Operating Expenses ⓘ	452	537	637	719	786	890	1,030	976	1,251	1,863
Manufacturing Costs	186	229	276	149	192	212	232	215	280	419
Material Costs	218	238	271	468	519	596	715	660	834	1,248
Employee Cost	12	14	16	17	23	26	31	38	50	65
Other Costs ⓘ	36	56	74	85	52	56	52	62	87	132
Operating Profit ⓘ	45	49	70	56	69	94	133	255	329	246
Operating Profit Margin (%)	9.1%	8.3%	9.9%	7.2%	8.1%	9.6%	11.4%	20.7%	20.8%	11.6%
Other Income ⓘ	3	4	4	5	6	8	5	7	7	8
Interest ⓘ	10	14	17	18	27	26	24	19	11	17
Depreciation ⓘ	28	29	42	27	36	36	38	41	43	56
Exceptional Items ⓘ	-6	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	3	10	15	16	12	40	77	202	281	180
Tax ⓘ	-1	3	2	0	5	9	17	58	94	58
Profit After Tax	4	7	13	16	7	31	59	144	187	122
PAT Margin (%)	0.9%	1.2%	1.8%	2.1%	0.8%	3.1%	5.1%	11.7%	11.9%	5.8%
Adjusted EPS (₹)	0.5	1.9	4.4	5.6	2.4	10.6	20.6	50.0	65.0	42.4
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	5%	4%	5%	14%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	348	355	364	372	379	410	469	591	772	886
Share Capital ⓘ	94	29	29	29	29	29	29	29	29	29
Reserves ⓘ	255	326	335	343	351	381	440	562	744	857
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	88	123	230	249	222	201	137	134	159	232
Long Term Debt	20	50	159	175	143	169	133	107	109	111
Short Term Debt	68	73	70	74	79	31	4	27	50	121
Trade Payables	79	78	72	103	96	93	106	119	138	216
Others Liabilities ⓘ	126	134	133	121	129	85	119	183	218	284
Total Liabilities ⓘ	641	690	799	846	827	788	831	1,027	1,287	1,618
Fixed Assets
Gross Block	514	598	620	659	671	672	705	755	889	1,101
Accumulated Depreciation	99	138	186	27	63	99	136	177	219	276
Net Fixed Assetsⓘ	415	460	434	632	609	574	569	579	670	826
CWIP ⓘ	29	31	131	0	0	12	30	48	98	99
Investmentsⓘ	0	0	0	5	5	5	27	0	0	0
Inventories	46	50	41	68	60	71	98	102	108	158
Trade Receivables	47	38	37	35	48	48	29	88	118	211
Cash Equivalents	6	6	27	2	2	2	20	59	76	35
Others Assetsⓘ	98	104	127	104	102	77	58	150	217	289
Total Assets ⓘ	641	690	799	846	827	788	831	1,027	1,287	1,618

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	34	61	75	71	56	61	154	142	219	128
PBT ⓘ	3	10	15	16	12	40	77	202	281	180
Adjustment ⓘ	44	41	60	43	62	62	60	57	48	67
Changes in Working Capital ⓘ	-8	10	2	15	-15	-32	29	-83	-60	-88
Tax Paid ⓘ	-5	0	-1	-3	-3	-9	-12	-34	-50	-31
Cash Flow From Investing Activity ⓘ	-58	-95	-166	-77	-10	-14	-59	-98	-218	-211
Capex	-59	-97	-149	-74	-19	-30	-39	-89	-173	-220
Net Investments	0	0	0	-5	0	0	-23	-11	-48	4
Others ⓘ	1	2	-17	2	9	16	2	2	4	5
Cash Flow From Financing Activityⓘ	0	34	93	0	-47	-47	-77	-15	-24	85
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-12	37	111	19	-20	-22	-24	-22	-27	55
Interest Paid ⓘ	-10	-14	-16	-19	-26	-26	-24	-18	-11	-17
Dividend Paid ⓘ	-6	-2	0	0	0	0	0	-3	-6	-9
Others ⓘ	28	13	-2	0	0	0	-28	28	21	56
Net Cash Flow ⓘ	-25	0	3	-5	-1	0	18	29	-23	2

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	1.54	2.23	3.49	4.39	1.87	7.74	13.5	27.18	27.48	14.74
ROCE (%)	3.02	5.12	5.66	5.31	6.07	10.4	15.55	31.23	34.12	18.7
Asset Turnover Ratio	1	1.33	1.33	1.35	1.11	1.33	1.55	1.8	2.03	1.94
PAT to CFO Conversion(x)	8.5	8.71	5.77	4.44	8	1.97	2.61	0.99	1.17	1.05
Working Capital Days
Receivable Days	30	18	14	12	16	16	11	13	16	21
Inventory Days	22	20	17	18	25	22	25	22	16	17
Payable Days	134	121	101	69	70	58	51	62	56	52

Globus Spirits Ltd Stock News

Globus Spirits Ltd FAQs

What is the share price of Globus Spirits?

Company share prices are keep on changing according to the market conditions. The closing price of Globus Spirits on 18-Apr-2024 16:01 is ₹761.5.

What is the market cap of Globus Spirits?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Apr-2024 16:01 the market cap of Globus Spirits stood at ₹2,212.5.

What is the P/E ratio of Globus Spirits?

The latest P/E ratio of Globus Spirits as of 18-Apr-2024 16:01 is 16.73.

What is the P/B ratio of Globus Spirits?

The latest P/B ratio of Globus Spirits as of 18-Apr-2024 16:01 is 2.28.

What is the 52-week high and low of Globus Spirits?

The 52-week high of Globus Spirits is ₹1,326.3 and the 52-week low is ₹656.1.

What is the TTM revenue of Globus Spirits?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Globus Spirits is ₹3,064 ( Cr.) .

About Globus Spirits Ltd

Globus Spirits (GSL) was originally incorporated as Globus Agronics Limited on February 16, 1993 with the Registrar of Companies, Delhi & Haryana, and obtained the Certificate of Commencement of Business on March 19, 1993. The name of the Company was subsequently changed to Globus Spirits Limited vide a fresh Certificate of Incorporation obtained on January 23, 2007 from the Registrar of Companies, Delhi and Haryana at New Delhi.

The company’s product excellence has ENAbled it to pioneer branding in the IMIL space with launch of India’s 1st ENA based country liquor brand- Nimboo. As a first for the industry, the company gave the bottom of the pyramid consumer a better tasting product, along with superior packaging that the consumers otherwise expect from other FMCG lines. This has led to a higher value perception of its brands. Little wonder then, that every day it is redefining ‘country liquor’ in India.

The company’s manufacturing facilities are ENAbling excellence by maximising yields from raw material. Its fully operational production units allow it to maximise alcohol yield while maximising production of by products leading to complete utilisation of the raw material. These facilities are also ENAbling a clean environment with a zero pollution footprint and cogeneration of power using renewable biomass as fuel.

Business area of the company

Globus Spirits Limited (the Group) 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.

Product range of the company includes:

IMFL

White Lace Gin White Lace Dry Gin
White Lace Duet Gin GR 8 Times Dry Gin Samurai Gold Extra Rich Blend Whisky
Samurai Premium Whisky 20-20 Premium Whisky
20-20 Superior Whisky
GR 8 Times Whisky
GR 8 Times XXX Rum
Hannibal Legendry RumHannibal Legendry XXX Rum
Samurai XXX Rum
Samurai Grape Brandy
Samurai Superior Grape Brandy
Samurai Superior Whisky
Academy Deluxe XXX Rum
Academy Deluxe Brandy

Country Liquor

Rana
Rajasthan No.-1
Ghoomar
Samalkha No.-1
Samalkha Ki Saunfi
Kinnu
Commander

History and milestones

1994-95

First Distillery set up; commenced production of Ethyl Alcohol in April 1994 at Samalkha Unit, Haryana. Unit was set up with an installed capacity of 144 lakh BL per annum.
Purchase of land at Village Shyampur, Tehsil Behror, District Alwar, Rajasthan for setting up a Distillery unit for manufacturing 40,000 Bulk Litres of Rectified Spirit and 20,000 Bulk Litres of Extra Neutral Alcohol per day.
The company acquired 18 acres of land in village Shyampur in Behror, Rajasthan.

1995-96

Sets up second Distillery unit at Behror, Rajasthan; Unit commissioned.
Authorised Share Capital increased from Rs. 5 crores to Rs. 10 crores.
Bonus issue to existing shareholders in the ratio of 12 equity shares for every 10 equity shares held.
Enters into agreement with International Distilleries (India) Ltd. - a subsidiary of International Distillers and Ventures, UK, to bottle IMFL products under the brand name of ‘IDI’.

1996-97

During the year Behror Unit also started production. The sale was Rs. 5092.12 lakhs with a profit after tax of Rs. 278.42 lakhs. The Company has also exported alcohol to the tune of Rs. 4221.54 lakhs during the year.

1998-99

Takes up work at Samalkha unit for conversion of molasses supplied by Panipat Co-operative Sugar Mills.
The company has started production of IMFL at its Behror unit under the brand name of Rajputana.

1999-2000

Commenced bottling of IMFL at Behror Unit in August, 1999; and Country Liquor at Samalkha Unit in December, 1999.

2000-01

Haryana State Pollution Control Board on 29.8.2000 orders closure of distillery unit at Samalkha for alleged non-compliance of pollution requirements.

2001-02

Haryana Pollution Control Board orders start of Bottling of Country Liquor at Samlakha unit on 17.8.2001.
Bottling at Samlakha Unit starts w.e.f 23.3.2002 after clearance by Hon’ble High Court of Punjab & Haryana on issues raised by State Excise Department.

2003-04

Enters into agreement on 26.7.2002 with Hi-Life Impex Pvt Ltd (Hi-Life) for use of Trademarks in respect of Ready to Drink Beverages (RTDB) and manufactures the same under technical know-how from Hi-Life.
Commercial production of RTDB starts from 27.9.2003.

2004-05

Sets up Effluent Treatment and Environment friendly Bio-Composite Plant and entire plant and machinery repaired in order to start the Distillation plant at Samalkha Unit.

2005-06

Distillation Plant commences operation at Samalkha Unit in April, 2005.

2006-07

Authorised Share Capital increased from Rs. 10 crores to Rs. 15 crores.
Name of the Company changed from Globus Agronics Limited to Globus Spirits Limited with effect from 23.1.2007.

2007-08

Authorised Share Capital increased from Rs. 15 crores to Rs. 25 crores.

2008-09

Launched Hannibal Legendary, one of its core brands, in the rum segment

2009-10

Launched Initial Public Offer and listed on stock exchanges (BSE & NSE).

2010-11

Completed capacity expansion at Samalkha & Behror plants, increasing capacity from 28.8 million bulk litre to 70.0 million bulk litres p.a.
Launched flagship whisky brand, County Club, in six states across India.
Entered into a tie-up with Jagatjit Industries for bottling of their popular brands at Samalkha, Haryana.

2011-12

Merged Associated Distillers Limited (ADL) with GSL, thereby, increasing total capacities to 84.4 million bulk litres p.a. Launched brand Nimboo in the IMIL segment in Haryana, which became an immediate success.

2012-13

IMIL brand Nimboo launched in Rajasthan in 2012.
White Lace becomes 3rd largest selling gin in its category in Rajasthan

2013-14

Hannibal Rum brand approved for CSD, sales commenced in FY 2014.

2014-15

Ghoomer, largest selling IMIL brand by a private player in Rajasthan, with 15% market share.

2015-16

Scaled up contracts with United Spirits and ABD.

2016-17

Launched Goldee as an umbrella brand with multiple flavor variants in West Bengal.

2017-18

Entered attractive West Bengal IMIL market backed by the 360° mode.
Unibev, premium IMFL venture, launched its first brand in Pondicherry.

2018-19

Unibev, premium IMFL venture, entered 4 more markets with a portfolio of 3 brands.

2019-20

145 million litres of production with zero discharge.
End to end production of 15 million cases of bottled beverages.
91% utilization of operating capacity, 34% used in-house for value added products.