Slide 1: Result Presentation | November 2021
Result Presentation | November 2021 Bulk Alcohol | Value Segment | Franchise Bottling | Premium Segment
Slide 2: Table of Content
TABLE OF CONTENT Q2 & H1 FY22 Performance Performance Highlights Segmental Performance Financial Highlights Annexure Company Overview Financials Shareholding Pattern 2
Slide 3: Q2 & H1FY22 Performance Highlights
Q4&FY21 Q2 | Performance H1FY22 Highlights | Performance Highlights Consolidated Q2FY22 (YoY %) H1FY22 (YoY %) Gross Revenue growth backed mainly by higher growth in Consumer Business (Net Revenue of Rs 1,806 Mn in Gross Q2FY22), led by increasing share of Value Plus segment Revenue 30% Rs 5,939 Mn
Slide 4: Key Business Updates (1)
Q4 FY21 Key | Performance Business Updates (1)Highlights ▪ The reported financial results for Q2FY22 and H1FY22 include the effect of the merger of Unibev with Globus Spirits Limited, and accordingly, the financials for previous comparative period have been restated to ensure like-to-like comparison
Slide 5: Key Business Updates (2)
Q4 FY21 Key | Performance Business Updates (2)Highlights ▪ Capacity utilisation to improve from Q3 FY22 onwards ₋ Bihar facility : Currently water levels are receding and expect repair work to complete by Dec-21; likely to operate at full capacity from Q4 FY22 ₋ Haryana Facility : Planned maintenanc
Slide 6: Consumer Segment – Initiatives
Consumer Segment – Initiatives Strong demand environment & expansion initiative to drive revenue & earning growth Value & Value Plus Segment Premium Segment ▪ Rajasthan : Market share increased to 32.3% ▪ Current Portfolio of Unibev brands ₋ Strong Value plus performance - 45% market share of GSL ₋
Slide 7: Consumer Segment- Value Added, High Margin
Consumer Segment- Value Added, High Margin Value Plus segment driving the overall growth in the Consumer Segment Consumer Business (includes Value, Value Plus, Premium liquors) – Revenue Trend (Rs. Mn ) Aggregate Consumer Segment Revenue in Q2FY22 stood at Rs. 1,806 Mn, growth of 30% YoY and 16% QoQ
Slide 8: Manufacturing Business – Strong Backbone
Manufacturing Business – Strong Backbone Unavailability of a part of capacity resulted in a small blip in revenues in Q2FY22 Bulk Alcohol – Revenue trend (Rs. Mn ) 1,497 1,539 1,541 1,379 1,355 1,107 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Bulk Alcohol sales volumes stood at 26.8 Mn litre in Q2FY2
Slide 9: Net Revenue Mix – Segment-wise
Net Revenue Mix – Segment-wise Moving towards a more favourable mix with higher share of Consumer Business Quarterly Revenue Mix Yearly Revenue Mix 42.0% 42% 42% 47% 40% 45% 35.5% 58% 58% 58.0% 60% 64.5% 55.7% 53% 55% Q2FY21 Q1FY22 Q2FY22 H1FY21 H1FY22 Manufacturing Segment Consumer Segment Share of
Slide 10: Profit & Loss Highlights | Q2 & H1FY22
Profit & Loss Highlights | Q2 & H1FY22 Particulars (Rs Mn) Q2 FY22 Q2 FY21 YoY (%) Q1 FY22 QoQ (%) H1FY22 H1FY21 YoY (%) Gross Revenues 5,939 4,567 30.0% 5,506 7.9% 11,446 7,487 52.9% Less- Excise duty 2,118 1,291 64.0% 1,801 17.6% 3,919 1,910 105.1% Net Revenues from Operations 3,822 3,276 16.7% 3,
Slide 11: Key Ratios | Q2 & H1FY22
Key Ratios | Q2 & H1FY22 Key Ratios (% of Total Income) Q2 FY22 Q2 FY21 Q1 FY22 H1FY22 H1FY21 EBITDA Margin 23.3% 19.2% 26.7% 25.0% 18.4% PAT 13.7% 10.4% 15.0% 14.3% 9.4% Total Expenditure 76.7% 80.8% 73.3% 75.0% 81.6% Raw material 51.4% 53.5% 49.5% 50.5% 56.4% Employee Cost 2.8% 3.3% 3.9% 3.3% 3.6%
Slide 12: Balance Sheet | September 2021
Balance Sheet | September 2021 Liabilities (Rs Mn) Mar-21 Sep-21 Assets (Rs Mn) Mar-21 Sep-21 Net-worth 5,907 6,932 Fixed assets (incl. CWIP) 6,269 6,826 LT borrowings 1,067 1,037 Investments 0 0 Provisions 30 32 Other financial assets 176 175 Deferred tax liabilities 494 639 Income tax assets 10 36
Slide 13: 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 Consolidated Net Cash Flow from Operations (Rs Mn)… …Driven by the Following Key Factors ▪ Growth in business and improved profitability 1,484 1,354 1,377 ▪ Lower Finance cost
Slide 14: Company Overview
Company Overview
Slide 15: 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 Value Segment Segment (Country Liquor) (UNIBEV) Globus Spirits Limited Key Raw Material (Broken Rice) Distillation Premium Segment (Franchisee Botting) ENA & E
Slide 16: Business Segments
Business Segments Largely divided into Manufacturing and Consumer segments Manufacturing Business (~57% of Revenue) Consumer Business (~43% of Revenue) Strong Backbone… High Value… Bulk Spirits Franchisee Bottling By Products Value Value Plus Premium Rs.40-60 per 180 ml Rs.80-95 per 180 ml Rs.125-70
Slide 17: Manufacturing Business
Manufacturing Business
Slide 18: 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 19: 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 5.0 4.5 63.6 80.00 4.0 46.0 50.0 60.00 3.5 3.0 40.7 43.5 40.00 Proxy play on growth in IMFL industry 2.5 2.0 20.00 1.5 3.3 3.4 4.5
Slide 20: 3. By-Products
3. By-Products Process efficiencies lead to zero discharge and incremental revenues ❑ Animal Feed Supplements (AFS) By-products (% of Total Operating Income) o Major by-product from distillation process is Animal Feed Supplements with Solubles & AFS o Used as food for the animal feed industry o High
Slide 21: Consumer Business
Consumer Business
Slide 22: Value Segment – GSL is One of the Largest IMIL Players
Value Segment – GSL is One of the Largest IMIL Players Product innovation and focus on brand building has enabled growth Existing Product Portfolio Focus on Innovation through Investment in R&D Nimboo Ghoomar Heer Ranjha Narangi Value & Value Plus Segment 500.00 429 427 382 377 14.00 450.00 315 400.
Slide 23: Premium Segment - Unique Value Proposition
Premium Segment - Unique Value Proposition Focus on niche segments | Building blocks for a high margin brand play Disruptive & exclusive USP with value proposition Crafted a range of premium and super premium whiskies blended with Upto12, 18 years old scotch & a 3 years old French blended grape bran
Slide 24: Financials
Financials
Slide 25: Annual | Profit & Loss Statement
Annual | Profit & Loss Statement Particulars (Rs Mn) FY20* FY21* H1FY22 Gross Revenues 12,674 16,721 11,446 Less- Excise duty 986 4,414 3,919 Net Revenues from Operations 11,688 12,308 7,527 Other Income 37 66 27 Total Income 11,726 12,373 7,553 Total Expenditure 10,441 9,756 5,668 Consumption of Ma
Slide 26: Annual | Key Ratios
Annual | Key Ratios Key Ratios (% of Total Income) FY20* FY21* H1FY22 EBITDA 11.0% 21.2% 25.0% PAT 4.5% 11.6% 14.3% Total Expenditure 89.0% 78.8% 75.0% Raw material 61.2% 52.8% 50.5% Employee Cost 2.9% 3.1% 3.3% Other Expenditure 24.9% 23.0% 21.2% Finance Cost 2.0% 1.5% 0.8% Depreciation 3.2% 3.3% 2
Slide 27: Annual | Balance Sheet
Annual | Balance Sheet Liabilities (Rs Mn) Mar-20* Mar-21* Sep-21 Assets (Rs Mn) Mar-20* Mar-21* Sep-21 Networth 4,500 5,907 6,932 Fixed assets (incl. CWIP) 5,985 6,269 6,826 LT borrowings 1,328 1,124 1,037 Intangible assets under 0 0 0 development Provisions 28 30 32 Financial assets 183 176 175 De
Slide 28: Key Financial Ratios
Key Financial Ratios Consistent focus on reducing debt from business cashflow; improving return ratios Gross Debt (Rs Mn) Net Debt/Equity (x) 1,777 1,788 0.35 1,657 0.20 0.13 FY20* FY21* H1FY22 FY20* FY21* FY22 Finance Cost (Rs Mn) and Avg. Cost of Debt (%) Return Ratios (%) 12.5% 8.78 RoE RoCE 236
Slide 29: Shareholding Pattern
Shareholding Pattern Total outstanding equity shares as on September 30th 2021, stands at 28.8 Mn shares Non-Institutuion 42% Promoter Group 51% Institutuion 7% 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