Slide 1: Result Presentation | May 2019
Result Presentation | May 2019 1
Slide 2: Globus Spirits Limited - Overview
Globus Spirits Limited - Overview Unique 360o business model only company with Fully Integrated Alcohol Play Modern and Largest grain based distilleries with track record of high capacity utilisation Continuous value addition by conversion of bulk to bottled products De-leveraging Balance Sheet - To
Slide 3: Agenda
AGENDA Q4 FY19 Performance Performance Highlights 5 Key Developments 6 Financials 7 Financial Performance 12 Annexure Company Overview 15 Shareholding Pattern 22 3
Slide 4: Quarter Highlights
QUARTER HIGHLIGHTS 4
Slide 5: Q4FY19 – Performance Highlights (Standalone)
Q4FY19 – Performance Highlights (Standalone) • Total Income (net of excise duty) stood at Rs. 2,728 mn in Q4FY19, 38% growth against Rs. Q4FY19 Q4FY18 1,973 mn inQ4FY18 – Higher Bulk Alcohol sales; ENA volumes grew by 51% YoY and realization grew by 12% YoY Rs. 2,728 mn 38% Rs. 1,973 mn – Strong vol
Slide 6: Key Developments during the quarter
Key Developments during the quarter • ENA experienced better realizations on account of Ethanol wave – ENA realizations stood at ~Rs. 48.6 per litre in Q4FY18 – ENA volumes for the quarter ended Q4FY19 were at 26.5 mn litres up ~50% YoY • UNIBEV expands its geography portfolio through launch in Andh
Slide 7: Q4FY19 – Profit & Loss Statement (Standalone)
Q4FY19 – Profit & Loss Statement (Standalone) Particulars (In Rs MN) Q4 FY19 Q4 FY18 YoY (%) Q3 FY19 QoQ FY19 FY18 YoY Gross Revenues 2,877.8 2,221.2 30% 2,783.2 3% 10,734.7 9,322.1 15% Less- Excise duty 168.9 258.1 -35% 215.5 -22% 891.5 771.4 16% Net Revenues from Operations 2,708.9 1,963.1 38% 2,5
Slide 8: Q4FY19 – Key Ratios (Standalone)
Q4FY19 – Key Ratios (Standalone) Key Ratios as a % of Total Income Q4 FY19 Q4 FY18 Q3 FY19 FY19 FY18 EBITDA 10.8% 9.4% 9.6% 10.3% 8.7% PAT 5.3% 0.7% 2.2% 3.1% 0.8% Total Expenditure 89.2% 90.6% 90.4% 89.7% 91.3% Raw material 62.0% 56.7% 60.5% 60.2% 60.1% Employee Cost 2.5% 2.9% 2.6% 2.6% 2.7% Other
Slide 9: Balance Sheet as on March 2019 (Standalone)
Balance Sheet as on March 2019 (Standalone) Rs. in Mn Mar – 19 Mar – 18 Rs. in Mn Mar – 19 Mar – 18 Non-current assets 6,387.5 6,533.1 Shareholder’s Fund 4,100.1 3,793.7 Share capital 288.0 288.0 Fixed assets 5,860.1 6,090.1 Other equity 3,812.1 3,505.7 Financial Assets 361.9 257.5 Income Tax Assets
Slide 10: FY19 – Profit & Loss Statement (Consolidated)
FY19 – Profit & Loss Statement (Consolidated) Particulars (In Rs MN) FY19 FY18 YoY Investing in High value Gross Revenues 10,807.0 9,323.8 16% Less- Excise duty Net Revenues from Operations 947.9 771.4 9,859.1 8,552.4 23% 15% Future Segment Other Income 70.9 53.2 33% Total Income 9,930.0 8,605.6 15%
Slide 11: Balance Sheet as on March 2019 (Consolidated)
Balance Sheet as on March 2019 (Consolidated) Rs. in Mn Mar – 19 Mar – 18 Rs. in Mn Mar – 19 Mar – 18 Non-current assets 6,175.8 6,462.6 Shareholder’s Fund 3,971.6 3,733.7 Share capital 288.0 288.0 Fixed assets 5,860.4 6,090.3 Other equity 3,690.8 3,446.7 Financial Assets 149.6 186.8 Non controlling
Slide 12: Segmental Performance
Segmental Performance Breakup of Revenue from Operations (Net) Bulk Alcohol, 47.5% IMFL, 0.0% • Revenues from manufacturing business stood at Rs. 1,713 mn Q4FY19 Franchisee in Q4 FY19, against Rs. 1,041 mn in Q4 FY18 IMFL IMIL, 2.1% 36.8% – Share of manufacturing business stood at 63% in Q4 FY19 Oth
Slide 13: IMIL – Strong Consumer Business
IMIL – Strong Consumer Business Rajasthan IMIL Haryana IMIL Delhi IMIL West Bengal IMIL 80.00 0.21 0.25 2.20 2.37 70.00 0.20 60.00 0.11 50.00 0.15 0.35 0.43 0.10 0.08 40.00 0.10 30.00 20.00 31.1 29.5 69.2 27.4 0.05 726.2 830.3 95.5 108.6 10.00 - 0.00 Q4FY18 Q4FY19 Q4FY18 Q4FY19 Q4FY18 Q4FY19 Q4FY18
Slide 14: Manufacturing – Robust Performance
Manufacturing – Robust Performance • Capacity utilization stood at 92.3% in Q4 FY19 against Production & Capacity Utilization 83.0% in Q4FY18 (Q4FY19 utilization includes Bihar 83.0% 92.3% Facility) 20.00 100% 25.9 34.9 10.00 50% • Captive consumption at 38%, higher bulk alcohol sales due - 0% Q4FY1
Slide 15: Company Overview
COMPANY OVERVIEW 15
Slide 16: Leveraging a Strong 360o Business Model
Leveraging a Strong 360o Business Model • Large, efficient manufacturing operations – Amongst the largest and most efficient grain- based distillery operations in India with ~150 million bulk litres of distillery capacity* – Present in DDGS – a high-potential co-product used as Animal Feed – Well pl
Slide 17: GSL – Geographical Presence
GSL – Geographical Presence • No. 1 private player in Rajasthan IMIL with 30% market share – 2.20 mn cases sold in Q4FY19 • No. 4 private player in Haryana with 8% market share – 0.43 mn cases in sold in Q4 FY19 • Increasing market share in West Bengal – 0.08 mn cases sold in Q4 FY19 Own Distillery
Slide 18: Growth Strategy
Growth Strategy FY18 Annual Location Production Production after • Re-commencement of Bihar Facility (Mn Litres) Bihar Restart Total 114 139 (90%) Average Realizations (Per Litre) • 'Leverage ethanol opportunity to enhance capacity utilization and improve realizations' In Q4FY19 at Rs. 48.6 vs 43.5
Slide 19: Unique Competitive Strengths
Unique Competitive Strengths 360° Business Model Efficient Operations • Only company present across full alcobev value chain • State-of-the-art plants across three locations using latest distillation • Helps capture IMFL growth via franchisee technology, zero discharge and highest bottling for top I
Slide 20: UNIBEV – Lead by Industry veteran Mr. Vijay Rekhi
UNIBEV – Lead by Industry veteran Mr. Vijay Rekhi Strategy • Focus on premium IMFL • Build portfolio of 4-6 niche brands in price segments which contribute max profit and currently only have 2-3 dominant brands Premium IMFL – Attractive Industry Segment • Premium IMFL is a highly attractive segment
Slide 21: Current Brand Portfolio
Current Brand Portfolio Globus Spirits Limited (IMIL) UNIBEV (IMFL) 21
Slide 22: Shareholding Pattern
Shareholding Pattern Corporate Bodies, Individuals & Others 28% Promoter Group 54% FIIs 18% As on March 31, 2019 Outstanding shares – 28.8 mn Major Non-Promoter Shareholders % shareholding Name % Share Templeton Strategic Emerging Markets Fund IV, LDC 17.49% 22
Slide 23: About Us
About Us Established in 1992, Globus Sprits Limited (BSE code: 533104, NSE Id: GLOBUSSPR, ISIN Id:INE615I01010) is engaged in manufacturing, marketing and sale of Indian Made Indian Liquor(IMIL), Indian Made Foreign Liquor (IMFL), Bulk Alcohol and contract bottling for established IMFL brands. The C