Slide 1: Result Presentation | Q2 FY23
Result Presentation | Q2 FY23
Slide 2: Q2FY23 - Revenue Growth Trajectory Continues
Q2FY23 - Revenue Growth Trajectory Continues… Net Revenue at Rs 4,803 Mn grew 26% YoY but lowered marginally QoQ (-3%) due to change of mix in value spirits Manufacturing (66% share) Consumer (34% share) Rs 3,172 Rs 1,631 57% YoY & 5% QoQ 10% YoY & 16% QoQ ▪ Bulk Alcohol revenue at Rs. 2,534 Mn, up
Slide 3: Margins lower on account of high fuel costs & change of business mix
Margins lower on account of high fuel costs & change of business mix Gross Margin stable QoQ at ~41%; EBITDA margin at ~10% ▪ Gross Margin at ~41% was largely maintained on a QoQ basis o Higher Bulk Alcohol realization from ~Rs. 57 in Q1FY23 to ~Rs. 59 per litre o Higher Consumer segment realization
Slide 4: Other Key Business Highlights
Q4 FY21 Other Key |Business Performance Highlights Highlights ▪ Jharkhand Project (greenfield) - Commenced commercial production in Sept’22, adding incremental capacity of 140 KLPD; Likely to operate at optimum utilization in Q2FY23 ▪ Consumer business – Premium Segment (IMFL) ▪ Showing signs of pos
Slide 5: Status of Projects
Q4 FY21 Status | Performance Highlights of Projects Capacity Additon Total Capacity Location Status in KLPD after Completion 1 West Bengal – II 140 240 Completed Q4FY22 2 Jharkhand 140 140 Completed Q2FY23 3 West Bengal - III 60 300 Q1FY24 4 Jharkhand - II 60 200 Q1FY24 5 Bihar 19 110 Q4-FY23 6 Oris
Slide 6: Consumer Business Performance Trend
Consumer Business Performance Trend Q2 H1 Description FY 2023 FY 2022 YOY Gr % FY 2023 FY 2022 YOY Gr % IMFL Volume in ‘000 cases 30 5 500% 70 10 600% Prestige & Above 30 5 500% 70 10 600% Regular & Others 0 0 0 0 0 0 Non IMFL Volume in ‘000 cases 3160 3800 -17% 7100 7180 -1% IMFL as % of total cons
Slide 7: Premium Segment - Unique Value Proposition
Premium Segment - Unique Value Proposition Focus on niche segments | Building blocks for a high margin brand play Brands that offer a distinctive value proposition for our strategic markets Crafted a range of premium and super premium whiskies blended with scotch and French blended grape brandy Stro
Slide 8: Non IMFL – GSL is One of the Largest Value Liquor Player
Non IMFL – GSL is One of the Largest Value Liquor Player Product innovation and focus on brand building has enabled growth Select Product Portfolio Focus on Innovation through Investment in R&D Nimboo Ghoomar Heer Ranjha Narangi Value & Value Plus Segment 461 500.00 429 427 382 377 14.00 450.00 400.
Slide 9: Manufacturing Business – Strong Backbone
Manufacturing Business – Strong Backbone Capacity utilisation at ~90% in H1FY23 with an expanded capacity Bulk Alcohol (ENA and Ethanol) – Revenue Trend (Rs. Mn ) 2,343 2,534 4,877 1,380 2,920 Q2FY22 Q1FY23 Q2FY23 H1FY22 H1FY23 Bulk Alcohol Bulk Alcohol Bulk Alcohol sales in Q2FY23 at 43.33 Mn litre
Slide 10: Company Overview
Company Overview
Slide 11: A Well Entrenched Distillation Business
A Well Entrenched Distillation Business 01 ▪ ▪ Strong economy portfolio Disruptive premium 02 ▪ Products ranging from Rs 100 – Rs 3000 Well portfolio Widest ▪ Covering rural entrenched ▪ Presence in 7 strategic product consumption and consumer markets portfolio in aspirational urban business industr
Slide 12: Presence Across the Value Chain
Presence Across the Value Chain Well integrated operations aid in ensuring quality and cost control Consumer Business - Owned Brands Premium Non-IMFL IMFL Value Segment Segment Globus Spirits Limited Key Raw Material (Rice) Distillation Premium Segment (Franchisee Botting) ENA & Ethanol Sold to Beve
Slide 13: Business Segments
Business Segments Divided into Manufacturing and Consumer segments Manufacturing Business (~59% of Revenue*) Consumer Business (~41% of Revenue*) Strong Backbone… High Margin… Bulk Spirits Franchisee Bottling By Products Value Value Plus Premium Rs.40-60 per 180 ml Rs.80-95 per 180 ml Rs.125-700 per
Slide 14: Financials
Financials
Slide 15: Profit & Loss Highlights | Q2 & H1 FY23
Profit & Loss Highlights | Q2 & H1 FY23 Particulars (Rs Mn) Q2FY23 Q2 FY22 YoY (%) Q1FY23 QoQ (%) H1FY23 H1FY22 YoY (%) Gross Revenues 6,335 5,939 6.7% 6,830 -7.2% 13,164 11,446 15.0% Less- Excise duty 1,532 2,118 -27.7% 1,875 -18.3% 3,407 3,919 -13.1% Net Revenues from Operations 4,803 3,822 25.7%
Slide 16: Key Ratios
Key Ratios | Q1FY23 Particulars (% of Total Income) Q2FY23 Q2 FY22 Q1FY23 H1FY23 H1FY22 Other Income (% of Net Revenue) 0.4% 0.4% 0.3% 0.4% 0.4% Raw material 59% 51% 59% 59% 51% Employee Cost 3% 3% 3% 3% 3% Other Expenditure 29% 23% 24% 27% 21% Total Expenditure 90% 77% 86% 88% 75% EBITDA 10% 23% 14
Slide 17: Balance Sheet Highlights
Balance Sheet Highlights Liabilities (Rs mn) Mar-22 Sept-22 Assets (Rs mn) Mar-22 Sept-22 Networth 7,723 8,230 Fixed assets (incl. CWIP) 7,676 8,170 LT borrowings 1,105 1,247 Investments 0 0 Provisions 33 37 Other financial assets 189 328 Deferred tax liabilities 887 1,013 Income tax assets 10 55 Ot
Slide 18: Annual | Profit & Loss Statement
Annual | Profit & Loss Statement Particulars (Rs Mn) FY20* FY21 FY22 Gross Revenues 12,674 16,721 23,438 Less- Excise duty 986 4,414 7,647 Net Revenues from Operations 11,688 12,308 15,791 Other Income 37 66 66 Total Income 11,726 12,373 15,858 Total Expenditure 10,441 9,756 12,506 Consumption of Ma
Slide 19: Annual | Key Ratios
Annual | Key Ratios Particulars (% of Total Income) FY20 FY21 FY22 Other Income (% of Net Revenue) 0.3% 0.5% 0.4% Raw material 61% 53% 53% Employee Cost 3% 3% 3% Other Expenditure 25% 23% 23% Total Expenditure 89% 79% 79% EBITDA 11% 21% 21% Depreciation 3% 3% 3% Finance Cost 2% 2% 1% Tax Expense (%
Slide 20: Annual | Balance Sheet
Annual | Balance Sheet Liabilities (Rs mn) Mar-20* Mar-21* Mar-22 Assets (Rs mn) Mar-20* Mar-21* Mar-22 Networth 4,500 5,907 7,723 Fixed assets (incl. CWIP) 5,985 6,269 7,676 LT borrowings 1,328 1,067 1,105 Investments 0 0 0 Provisions 28 30 33 Other financial assets 183 176 189 Deferred tax liabili
Slide 21: Enhanced Net Cash Flow from Operations
Enhanced Net Cash Flow from Operations The business mix and focus on costs have led to strong operating cash flow generation Net Cash Flow from Operations (Rs Mn)… …Driven by the Following Key Factors 2,187 ▪ Growth in business and improved profitability 1,354 1,416 ▪ Lower Finance costs due to pari
Slide 22: Key Financial Ratios
Key Financial Ratios Consistent focus on reducing debt from business cashflow; improving return ratios Long Term Borrowing (Rs Mn) Net Debt/Equity (x) 1,759 1,517 0.35 1,242 0.20 0.11 FY20* FY21* FY22 FY20* FY21* FY22 Finance Cost (Rs Mn) and Avg. Cost of Debt (%) Return Ratios (%) RoE RoCE 12.5% 8.
Slide 23: Shareholding Pattern
Shareholding Pattern Total outstanding equity shares as of September 30, 2022, stand at 28.8 Mn shares Non-Institutuion 42.56% Promoter Group 51.01% Institutuion 6.43% 23
Slide 24: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Globus Spirits Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not f
Slide 25: Let's Connect
Let’s Connect Mr. Bhaskar Roy Globus Spirits Limited Phone: +91 11 6642 4600 Email: broy@globusgroup.in Ms. Pooja Sharma / Mr. Suyash Samant Stellar IR Advisors Pvt. Ltd. Phone: +91 22 6239 8024 Email: pooja.sharma@stellar-ir.com / suyash@stellar-ir.com