Slide 1: Result Presentation | February 2021
Result Presentation | February 2021 ENA | IMIL| Bottling | Premium IMFL
Slide 2: Content
CONTENT Q3/9M FY21 Performance Performance Highlights 3 Financial Highlights 6 Segmental Performance 8 Annexure Company Overview 12 Financials 25 Shareholding Pattern 29 2
Slide 3: Q3 FY21 | Performance Highlights
Q3 FY21 | Performance Highlights Q3FY21 Q3FY20 • Gross Revenue grew 21.5% YoY to Rs. 4,288 Mn 21.5% ― Gross revenue growth backed by increase in both volume and value, Rs. 4,288 Mn Rs. 3,529 Mn mainly in the Consumer Business segment Gross Revenue • EBITDA stood at Rs. 704 Mn, growth of 96% YoY 96%
Slide 4: 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 Strong Net Cash Flow from Operations (Rs Mn) … … Driven by the following Key Factors 23% 1,540 ▪ Growth in business and improved profitability 1,276 ▪ Lower Finance costs due
Slide 5: Leading to a Strengthened Balance-sheet
…Leading to a Strengthened Balance-sheet Consistent focus on reducing debt from business cashflow; improving return ratios Gross Debt (Rs Mn) Net Debt/Equity (x) 2,515 2,298 0.66 1,777 0.55 1,555 0.34 0.17 FY18 FY19 FY20 9MFY21 FY18 FY19 FY20 9MFY21 Finance Cost (Rs Mn) and Avg. Cost of Debt (%) Ret
Slide 6: Profit & Loss Highlights | Q3 & 9MFY21
Profit & Loss Highlights | Q3 & 9MFY21 Standalone financials Particulars (Rs Mn) Q3 FY21 Q3 FY20 YoY (%) Q2 FY21 QoQ (%) 9M FY21 9M FY20 Gross Revenues 4,287.9 3,529.1 21.5% 4,536.9 -5.5% 11,721.1 9,616.3 Less- Excise duty 1,141.2 267.3 327.0% 1,275.3 -10.5% 3,021.1 681.4 Net Revenues from Operation
Slide 7: Key Ratios | Q3 & 9MFY21
Key Ratios | Q3 & 9MFY21 Standalone financials Key Ratios (% of Total Income) Q3 FY21 Q3 FY20 Q2 FY21 9M FY21 9M FY20 EBITDA 22.3% 11.0% 20.0% 20.3% 11.0% PAT 12.8% 4.5% 10.8% 11.0% 4.2% Total Expenditure 77.7% 89.0% 80.0% 79.7% 89.0% Raw material 50.7% 64.6% 53.5% 54.3% 62.1% Employee Cost 2.8% 2.4
Slide 8: Segment-wise Net Revenue Mix (Standalone)
Segment-wise Net Revenue Mix (Standalone) Moving towards a more favourable mix with higher share of Consumer Business (IMIL) Q3FY21 Q3FY20 Bulk Hand Alcohol sanitisers Bulk 51.6% 0.2% Alcohol 43.1% Hand sanitisers 0.0% Franchisee Rs. 3,146 Mn Franchisee Rs. 3,262 Mn IMFL IMFL 1.5% 1.6% IMIL 45.1% IM
Slide 9: Consumer Business – IMIL
Consumer Business – IMIL… State-wise performance – Making progress in both volumes sold and value earned Total IMIL Sales volumes in Q3FY21 grew by 14% YoY to 3.27 Mn cases Rajasthan IMIL Haryana & Delhi* IMIL West Bengal IMIL 1,138.1 2.50 2.40 895.6 2.42 2.30 222.0 1.00 65 0.25 2.20 0.90 55 49.6 2.
Slide 10: Witnessing Positive Changes
…Witnessing Positive Changes Good Agri year ➔ equals to ➔ Growth in Rural Consumption Rajasthan: ~29% market share in Rajasthan Medium Liquor Haryana : Increase in market size of IMIL (RML) and IMIL • During the pandemic, Governments have focused to improve • Rajasthan Government increased the price
Slide 11: Manufacturing – Strong Backbone
Manufacturing – Strong Backbone Strong pick-up post lockdown; facilities ramped up to reach high utilisation levels *Bulk Alcohol Segment: Total Capacity of 160 Mn bulk liters per annum Franchise Bottling (Mn Cases) 40 92.3% 91.6% 1 40 1766.1 1762.5678 1.03 1759.0356 1,682 1755.5034 1751.9712 1748.4
Slide 12: Company Overview
Company Overview
Slide 13: The 360° Business Model
o The 360 Business Model ENAbling high capacity utilisation and sustainable & balanced growth Unique 360⁰ model straddling across the entire alcohol value chain ▪ Large, efficient manufacturing operations • Amongst the largest and most efficient grain -based distilleries in India with ~160 million b
Slide 14: Presence Across the Value Chain
Presence Across the Value Chain Well integrated operations aid in ensuring quality and cost control & IMIL IMFL (Country Liquor) (Franchisee Botting) Globus Spirits Limited Bottling IMFL (Future Segment) Value addition to ENA Value addition Premium IMFL Key Raw Material ENA & Ethanol UNIBEV (Broken
Slide 15: Business Segments
Business Segments Largely divided into Manufacturing and Consumer segments Manufacturing Business (64% of Revenue) Consumer Business (36% of Revenue) Strong Backbone… High Value… Bulk Spirits Franchisee Bottling By Products IMIL Premium IMFL 77% 3% 20% 99% 0.1% • Recently, commenced Production of Sa
Slide 16: Manufacturing Business
Manufacturing Business
Slide 17: 1. Bulk Alcohol
1. Bulk Alcohol Backbone of the 360obusiness model; Generating robust cashflows • Globus is the largest grain based Extra Neutral Alcohol (ENA) manufacturer in India with a capacity of 160 Mn Litres • Reputed IMFL players are major customers for Bulk Alcohol • Presence in Rajasthan, Haryana, Bihar a
Slide 18: 2. Franchisee Bottling
2. Franchisee Bottling Strong relationships with pedigreed players ensures steady offtake Bottling volume (Mn cases) 20 year old relationships with ABD and USL / Diageo 50.00 60.00 46.00 5.0 4.5 4.0 40.72 43.46 40.00 3.5 3.0 Proxy play on growth in IMFL industry 2.5 20.00 2.0 1.5 3.3 3.4 4.5 4.0 1.0
Slide 19: 3. By-Products
3. By-Products Process efficiencies lead to zero discharge and incremental revenues ❑ DDGS By-products (% of Total Operating Income) o Major by-product from distillation process is Distillers Dried Grains with Solubles or DDGS o Used as food for the animal feed industry o High protein (min 45% ) and
Slide 20: 4. Hand Sanitizers
4. Hand Sanitizers Emerging as a new segment, amidst the Covid-19 pandemic ▪ Contract bottling for major FMCG and OTC brands in some of our facilities. ▪ Initiated manufacturing of sanitizers under our own brand that is sold directly to retail 20
Slide 21: Consumer Business
Consumer Business
Slide 22: IMIL – GSL is One of the Largest IMIL Players
IMIL – GSL is One of the Largest IMIL Players Product innovation and focus on brand building has enabled growth Existing Product Portfolio State wise Market Share in IMIL (FY20) Nimboo Ghoomar Heer Ranjha Narangi Rajasthan Largest Private Player 29% Haryana 4th largest player 8% West Bengal Recent e
Slide 23: IMFL – UNIBEV - Unique Value Proposition
IMFL – UNIBEV - Unique Value Proposition Asset-light | Focus on niche segments | Building blocks for a high margin brand play Unibev has come out with disruptive & exclusive USP with value proposition Crafted a range of premium and super premium whiskies blended with Upto12, 18 years old scotch & a
Slide 24: Investing for Future Growth
Investing for Future Growth Strategically utilising free cashflows from GSL towards high ROCE business (UNIBEV) High Cashflow Generation Re-investment towards high value growth Particulars FY19 FY20 Actions Profit After Tax 31 crores 59 crores De-leverage Balance Sheet Re-payment of ~52 crores in FY
Slide 25: Financials
Financials
Slide 26: Annual | Profit & Loss Statement
Annual | Profit & Loss Statement Standalone Financials Particulars (INR Mn) FY17 FY18 FY19 FY20 Gross Revenues 11,082.1 9,322.1 10,734.7 12,545.1 Less- Excise duty 3,339.6 771.1 891.5 914.7 Net Revenues from Operations 7,742.4 8,551.0 9,843.2 11,630.4 Other Income 47.6 54.0 79.5 48.3 Total Income 7,
Slide 27: Annual | Key Ratios
Annual | Key Ratios Standalone Financials Key Ratios (% of Total Income) FY17 FY18 FY19 FY20 EBITDA 7.7% 8.7% 10.3% 11.8% PAT 2.1% 0.8% 3.1% 5.1% Total Expenditure 92.3% 91.3% 89.7% 88.2% Raw material 60.0% 60.1% 60.2% 61.0% Employee Cost 2.2% 2.7% 2.6% 2.7% Other Expenditure 30.0% 28.6% 26.9% 24.5%
Slide 28: Annual | Balance Sheet
Annual | Balance Sheet Standalone Financials Liabilities (INR Mn) FY17 FY18 FY19 FY20 Assets (INR Mn) FY17 FY18 FY19 FY20 Net-worth 3,723.0 3,793.7 4,100.1 4,688.8 Fixed assets (incl. CWIP) 6,320.8 6,090.1 5,860.1 5,982.5 LT borrowings 1,750.4 1,434.9 1,692.9 1,341.8 Investments 49.5 49.5 49.5 274.5
Slide 29: Shareholding Pattern
Shareholding Pattern Total outstanding equity shares as on December 31, 2020, stands at 28.8 Mn shares Corporate Bodies, Individuals & Others 27% Promoter Group 56% FIIs 17% Major Non-Promoter Shareholders % shareholding Name % Share Templeton Strategic Emerging Markets Fund IV, LDC 17.49% 29
Slide 30: 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 31: Let's Connect
Let’s Connect Mr. Bhaskar Roy Ms. Pooja Sharma / Ms. Sheetal Keswani Globus Spirits Limited Stellar IR Advisors Phone: +91 11 6642 4600 Phone: +91 22 62398024 Email: broy@globusgroup.in Email: pooja.sharma@stellar-ir.com / sheetal@stellar-ir.com