Globus Spirits hits 52-week high on launching its first single malt whisky: Globus Spirits share price
Source: Business Standard
Globus Spirits hits 52-week high: Shares of alcohol manufacturer Globus Spirits rose as much as 3.95 per cent to hit a fresh 52-week high of Rs 1,373.35 per share on September 17, 2024.
The shares of Globus Spirits rose after the company announced the launch of its first single malt whiskey, DŌAAB India Craft Whisky. This move marks the company’s entry into the luxury segment of the growing whisky market in India, it said.
Dōaab India Craft Whisky 01 Single Malt Whisky is being launched in a 750 ml bottle with the price range of Rs 4,500 – Rs 5,500 depending on the state and its applicable pricing structure as per norms.
Shekhar Swarup, joint managing director of Globus Spirits Limited said, “Within two years the company has innovated into various segments in the drinks industry of India and we are proud to raise the standards with the launch of DŌAAB. As a company we continue to aspire for more and will offer the best offerings cutting across all segments.”
Globus Spirits Limited, established in 1992, engages in the manufacture and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), bulk alcohol, hand sanitizers, and franchise bottling.
The company operates with a comprehensive 360⁰ model that spans the entire alcohol value chain. It was a pioneer in India by setting up the first grain distillery and launching branded DDGS.
The business is segmented into Manufacturing and Consumer operations. The Manufacturing segment, which contributed 62 per cent of revenue in Q1FY25 compared to 41 per cent in FY22, includes bulk alcohol production and franchise bottling.
The company produces Extra Neutral Alcohol (ENA) and ethanol, supplying major IMFL brands and bottling well-known brands like United Spirits and Bacardi. Despite an increase in revenue by 15 per cent in FY24, Ebitda per litre in the franchisee segment dropped due to rising material costs.
The Consumer segment, contributing 38 per cent of revenue in FY24 compared to 59 per cent in FY22, encompasses both Prestige & Above and Regular & Others categories.
The company offers a range of IMFL brands and is expanding into Ready-to-Drink beverages and beer through new ventures. It leads the regular category in Rajasthan with major market share, though overall sales in this category declined slightly in FY24.
Globus Spirits operates five fully integrated grain-based distilleries across India, with a combined annual capacity of 301 million litres and a bottling capacity of approximately 4 million cases, maintaining around 90 per cent utilisation.
The market capitalisation of Globus Spirits is Rs 3,817.21 crore, according to Bombay Stock Exchange (BSE).
At 11:50 AM, shares of the company were off highs and were trading 0.21 per cent higher at Rs 1,323.90 per share. In comparison, BSE Sensex was trading 0.07 per cent higher at 83,047.46 levels.
First Published: Sep 17 2024 | 11:57 AM IST
