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ICICI Direct Report
For FY21, Globus Spirits Ltd. reported strong profit generation, led by its niche positioning in the Indian made Indian liquor segment (higher volumes, realisation).
Bulk segment, on the other hand, saw a largely flat performance, due to higher volatility in liquor sales during the year (weak H1).
Overall, net revenues during the year grew 5% YoY to Rs 1,231 crore, led by 24% growth in Indian made Indian liquor segment (44% of net revenues).
Ebitda doubled YoY to Rs 255 crore mainly due to strong expansion in Ebitda margin (clocked highest ever Ebitda margin of 24.7% in Q4, 20.7% in FY21, led by higher gross margins, lower fuel, freight and power cost).
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