Globus Spirits Limited · NSE:GLOBUSSPR
Globus Spirits — Q1 FY2024 Earnings Presentation
24 slides from Globus Spirits's earnings presentation, August 2023
Slide 1: Globus Spirits Limited Result Presentation Q1FY24
Enabling Excellence GLOBUS SPIRITS LIMITED Result Presentation | Q1FY24
Slide 2: Globus Spirits - A Well Entrenched Distillation Business
Globus Spirits - A Well Entrenched Distillation Business… Damaged FCI Rice Maize Rice Fungible Intermediates Flexible Input Ingredient ENA for Captive Use Consumer Business 2 ENA for sale to MNCs and Domestic Alcobev Companies IMIL Business Flexible Power Source Franchisee Bottling for Diageo IMFL B
Slide 3: Supporting a Growing Consumer Business (1/2)
… Supporting a Growing Consumer Business (1/2) India Crafts Spirit Co., Distillers Since 1958 3 ▪ Organised all super premium offering into an umbrella brand - signifying hand-crafted product offerings from India ▪ The brand leverages authentic Indian heritage of our distilleries and the history of
Slide 4: Supporting a Growing Consumer Business (2/2)
… Supporting a Growing Consumer Business (2/2) Prestige & Above Segment Value & Value Plus Segment ▪ Disruptive IMFL portfolio, offering Unique Value Proposition ▪ Pioneer in Value Plus segment in Rajasthan with introduction of ▪ Strategic presence in 5 states (combined market size of ~74 Mn cases)
Slide 5: Value and Value Plus – GSL is One of the Largest Players
Value and Value Plus – GSL is One of the Largest Players Product Innovation by investment in R&D and focus on Brand Building, enabled Growth 5 Select Product Portfolio Value and Value Plus Segment Globus Net Revenue (Rs Mn) White Lace Black Lace Regal Estate County Club Samurai Green 7,133 6,744 5,1
Slide 6: Consumer Business Strategy Fructifying with IMFL Poised to Propel Growth
Consumer Business Strategy Fructifying with IMFL Poised to Propel Growth Net Revenue (Rs Mn) Q1FY24 Q1FY23 YoY% Q4FY23 QoQ% FY23 IMFL (Prestige & Above) 76 72 5% 90 -16% 355 - Volumes sold (Mn cases) 0.05 0.04 17% 0.05 3% 0.21 6 Value and Value Plus 1,955 1,868 5% 1,689 16% 7,133 - Volumes sold (Mn
Slide 7: Manufacturing Business – Strong Backbone
Manufacturing Business – Strong Backbone Net Revenue (Rs Mn) Q1FY24 Q1FY23 YoY% Q4FY23 QoQ FY23 Bulk Alcohol 2,974 2,343 27% 2,895 3% 10,766 - Volumes sold (Mn Ltr) 49.77 41.04 21% 47.63 5% 182.26 7 - Avg. Realisation (Rs/Ltr) 59.7 57.1 5% 60.8 -2% 59.1 Franchise Bottling 35 40 -13% 43 -19% 170 AFS
Slide 8: Status of Projects
Status of Projects Capacity Addition Total Capacity after Location Status (KLPD) Completion West Bengal – II 140 240 Completed Q4FY22 Jharkhand 140 140 Completed Q2FY23 8 West Bengal - III 60 300 Completed; To be commissioned in Aug’23 Jharkhand - II 60 200 Likely commissioning in Sep’23 Bihar 19 11
Slide 9: Manufacturing Highlights Units (1/3)
Q4 FY21 | Performance State-of-the-Art ManufacturingHighlights Units (1/3) Rajasthan Facility Capacity: 54.4 Mn Ltrs 9 Products: Value, Value Plus, IMFL Liquor; ENA, Ethanol and Other By-products (mainly AFS) 9
Slide 10: Manufacturing Highlights Units (2/3)
Q4 FY21 | Performance State-of-the-Art ManufacturingHighlights Units (2/3) West Bengal Facility Haryana Facility Capacity: 81.6 Mn Ltrs (scale up to 102.0 Mn Ltrs by Q1FY24) Capacity: 47.6 Mn Ltrs Products: Value, Value Plus, IMFL Liquor Franchisee IMFL; Products: Value, Value Plus, IMFL Liquor, Fra
Slide 11: Manufacturing Highlights Units (3/3)
Q4 FY21 | Performance State-of-the-Art ManufacturingHighlights Units (3/3) Bihar Facility Jharkhand Facility Capacity: 28.9 Mn Ltrs (scale up to 35.4 Mn Ltrs by Q1FY24) Capacity: 47.6 Mn Ltrs (scale up to 68 Mn Ltrs by Q1FY24) 11 Products: Ethanol and Other By-products (mainly AFS) Products: ENA, Et
Slide 12: Q1FY24 Results Commentary
12 Q1FY24 Results Commentary
Slide 13: Manufacturing Business - Benefitted from Expanded Capacities
Manufacturing Business - Benefitted from Expanded Capacities Rs 3,670 Mn in Q1FY24 Rs 13,602 Mn in FY23 Manufacturing (64% of Net Revenue) 22% YoY & 1% QoQ 51% YoY ▪ Bulk Alcohol Revenue stood at Rs 2,974 Mn, up 27% YoY led Volume growth of 21% YoY to 49.77 Mn Ltr and Realization growth of 5% YoY 13
Slide 14: Consumer Business - Benefitted from the Boost in IMFL Business
Consumer Business - Benefitted from the Boost in IMFL Business Rs 2,031 Mn in Q1FY24 Rs 7,489 Mn in FY23 Consumer (36% of Net Revenue) 5% YoY & 14% QoQ 10% YoY Prestige & Above Segment 14 ▪ Growth trajectory continued with Volumes growth of 17% YoY and 3% QoQ to 0.05 Mn cases. Revenue growth tapered
Slide 15: Stable Operating Margin in Q1FY24
Stable Operating Margin in Q1FY24 EBITDA Margin (ex-IMFL) Maintained at ~14% – Factors that Contributed Positively ▪ Higher Consumer segment realization mainly led by price increases in Rajasthan 15 ▪ Decline in Coal rate by 8% QoQ helped to offset the continued cost-push in husk and multifuel ▪ Sta
Slide 16: Profit & Loss Highlights
Profit & Loss Highlights Particulars (Rs Mn) Q1FY24 Q1FY23 YoY (%) Q4FY23 QoQ (%) FY23 Net Revenue 5,701 4,954 15.1% 5,410 5.4% 21,091 Other Income 19 17 28 78 Total Income 5,720 4,971 15.1% 5,437 5.2% 21,169 16 Raw Material Cost 3,369 2,921 3,109 12,413 Gross Margin 41.1% 41.2% 42.8% 41.4% Employee
Slide 17: Annual Financials
17 Annual Financials
Slide 18: Profit & Loss
Profit & Loss Particulars (Rs Mn) FY20* FY21* FY22 FY23 Net Revenues from Operations 11,688 12,308 15,791 21,091 Other Income 37 66 66 78 18 Total Income 11,726 12,373 15,858 21,169 Total Expenditure 10,441 9,756 12,506 18,635 Consumption of Material 7,176 6,532 8,384 12,413 Employee Cost 343 384 50
Slide 19: Key Ratios
Key Ratios Particulars (% of Total Income) FY20* FY21* FY22 FY23 Gross Margin 39% 47% 47% 41% Employee Cost 3% 3% 3% 3% 19 Other Expenditure 25% 23% 23% 26% EBITDA 11% 21% 21% 12% Finance Cost 2% 2% 1% 1% PAT 5% 12% 12% 6% • Consistently focusing on reducing debt from business cashflow; The Net Debt
Slide 20: Balance Sheet
Balance Sheet Liabilities (Rs mn) Mar-21* Mar-22 Mar-23 Assets (Rs mn) Mar-21* Mar-22 Mar-23 Networth 5,907 7,723 8,866 Fixed assets (incl. CWIP) 6,269 7,676 9,249 LT borrowings 1,067 1,089 1,109 Investments 0 0 0 Provisions 30 33 46 20 Other financial assets 176 274 683 Deferred tax liabilities 494
Slide 21: Cashflow Deployment – FY23
Cashflow Deployment – FY23 Cash Flow Extract (Rs Mn) FY23 Net cash generated from Operating Activities (A) 1,224 21 Net cash used in Investing Activities (B) (2,119) Net cash used in Financing Activities (C) 863 Net (decrease)/ increase in cash and cash equivalents (A+B+C) (32.5) Add: Cash & Cash eq
Slide 22: Capital Market Related Information
Capital Market Related Information Shareholding Pattern (as on 30-Jun-23) Scrip Related Information (as on 11-Aug-23) 22 BSE/NSE Code 533104 | INE615I01010 Non- CMP (Rs) 1,058 Institutuion 35.29% Market Cap (Rs Cr) 3,048 Promoter Group 51.01% Shares (Cr) 2.88 Institutuion Face Value (Rs) 10.0 13.69%
Slide 23: 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 24: Let’s Connect
Let’s Connect @ Mr. Bhaskar Roy Globus Spirits Limited © Phone: +91 11 6642 4600 @® 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