Overview

Detailed Summary

Globus Spirits Limited is a leading manufacturer and marketer in the Indian alcohol industry, with a focus on industrial alcohol, country liquor, and Indian Made Foreign Liquor (IMFL).
The company has shown strong growth in its consumer segment, particularly in the Prestige & Above (P&A) category, with a reported revenue growth of 32% excluding Delhi and plans for 50% growth in Q4 FY26.
Globus Spirits is expanding its geographical footprint with plans to increase its distribution presence in new states, aiming to strengthen its market position and drive further growth in both consumer and manufacturing segments.
The company reported a significant improvement in its manufacturing business performance, with an EBITDA surge of 407% YoY for 9MFY26, supported by increased capacity utilization and favorable raw material costs.
Globus Spirits continues to develop and launch innovative products, such as Doaab Indian Craft Whisky and Terai India Dry Gin, both awarded internationally, highlighting their commitment to brand development and premiumization.

Sector: Beverages
Industry: Breweries & Distilleries
Market Cap: 2,388 Cr
Volatility: Moderate Risk
P/E Ratio: 31.7
Industry P/E: 49.5
PEG Ratio: 0.8
P/B Ratio: 2.3
52W High: 1,303.95
52W Low: 821.00

Sales CAGR

1Y: 5.07%
3Y: 14.49%
5Y: 22.90%
10Y: 15.09%

Profit CAGR

1Y: -77.18%
3Y: -48.91%
5Y: -15.89%
10Y: 7.96%

ROE

TTM: 4.45%
3Y: 8.55%
5Y: 13.64%
10Y: 11.28%

ROCE

TTM: 7.68%
3Y: 11.17%
5Y: 17.22%
10Y: 14.34%

Technicals

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Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Fast Moving Consumer Goods Fast Moving Consumer Goods Beverages Breweries & Distilleries

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GLOBUSSPR	821.00	2,388 Cr	31.68	2.31	0.33	4.45	7.68	3.55
GMBREW	966.00	2,203 Cr	13.52	2.24	0.78	14.56	18.23	14.83
SDBL	74.12	1,547 Cr	16.97	1.86	0.00	12.41	15.26	6.34
ASALCBR	719.40	1,360 Cr	16.17	2.32	0.27	14.66	18.19	11.24
SULA	155.55	1,314 Cr	43.58	2.32	2.31	8.67	9.59	2.75
BCLIND	26.95	796 Cr	6.79	0.93	0.96	12.20	11.67	7.60
IFBAGRO	719.50	671 Cr	14.10	1.03	0.00	7.91	10.57	5.08
Median: 7 Co.	719.40	1,360 Cr	16.17	2.24	0.33	12.20	11.67	6.34

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	567	687	590	642	638	602	655	700	661	717
Expenses	530	648	570	595	608	572	616	642	602	642
Operating Profit	38	40	20	48	30	30	39	57	59	75
OPM %	6.62	5.79	3.34	7.40	4.65	5.03	5.93	8.20	8.99	10.47
Other Income	3.54	2.87	5.24	1.80	2.02	2.23	3.66	2.32	2.82	2.72
Interest	7.37	6.83	6.11	8.54	9.43	10	13	15	14	13
Depreciation	16	17	17	20	20	21	21	22	22	22
Profit Before Tax	17	19	2.30	21	2.09	1.16	8.70	23	26	42
Tax %	25.30	-130.81	96.52	28.04	38.28	64.66	43.56	22.72	12.19	26.03
Net Profit	13	44	0.08	15	1.28	0.41	4.90	18	23	31
EPS in Rs	4.47	15.27	0.02	5.29	0.45	0.14	1.69	6.14	7.58	10.51

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	993	1,108	932	1,081	1,267	1,672	2,822	3,147	3,519	2,595
Expenses	639	720	785	899	1,042	969	1,857	2,244	2,386	2,438
Operating Profit	353	389	147	182	225	703	965	903	1,133	156
OPM %	35.60	35.07	15.79	16.83	17.75	42.03	34.20	28.69	32.20	6.02
Other Income	4.18	4.51	5.32	7.09	3.74	6.56	7.83	14	9.72	10
Interest	17	18	27	26	24	19	17	27	46	47
Depreciation	42	27	36	36	38	41	56	66	82	84
Profit Before Tax	12	14	10	33	67	202	180	91	33	35
Tax %	17.85	-1.17	44.46	27.93	25.71	30.21	32.14	-5.87	34.03	30.19
Net Profit	10	14	5.65	24	50	141	122	96	22	25
EPS in Rs	—	—	—	5.70	17.23	48.60	—	33.14	7.56	25.91
Dividend Payout %	0.00	0.00	0.00	0.00	0.35	0.69	14.15	10.52	34.29	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025
Equity Capital	29	29	29	29	29	29	29	29	29	29
Reserves	326	332	339	345	369	419	557	858	946	964
Borrowings	123	230	249	222	201	140	142	291	329	527
Other Liabilities	167	156	177	176	170	212	265	412	466	574
Total Liabilities	644	746	794	771	769	799	992	1,590	1,770	2,093
Fixed Assets	460	434	632	609	574	569	579	826	960	1,019
CWIP	31	131	0.35	0.47	12	30	48	99	90	150
Investments	0.10	0.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	153	181	162	162	183	201	365	664	720	925
Total Assets	644	746	794	771	769	799	992	1,590	1,770	2,093

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	61	50	67	56	31	135	148	102	170	67
Cash from Investing Activity	-95	-141	-72	-9.65	-14	-37	-87	-197	-164	-208
Cash from Financing Activity	34	94	0.13	-47	-17	-80	-23	71	-6.83	142
Net Cash Flow	0.49	2.36	-5.00	-0.63	-0.12	18	38	-24	-1.06	0.99

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	51.01%	51.01%	51.02%	50.98%	50.98%	50.90%	50.90%	50.86%	50.90%	50.76%	50.76%	50.75%
FIIs	4.75%	4.76%	5.72%	4.65%	4.89%	4.75%	5.56%	6.00%	6.35%	6.33%	6.54%	6.47%
DIIs	5.48%	8.94%	3.87%	1.66%	0.98%	1.11%	5.95%	5.31%	5.75%	6.13%	9.47%	10.11%
Public	38.75%	35.30%	39.40%	42.71%	43.15%	43.24%	37.59%	37.82%	37.00%	36.78%	33.22%	32.67%
Total Shareholders	88,049	78,454	88,833	1,00,309	98,695	94,028	79,592	82,661	78,493	74,458	67,317	66,139

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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