ICICI Direct's research report on Globus Spirits
Globus Spirits (GSL) is the largest grain based ENA manufacturer in India with a capacity of 160 million litre. The company is also a supplier of Indian made Indian liquor (IMIL) and premium IMFL in India. IMIL segment comprised ~42% of consolidated revenues, with the rest contributed by bulk alcohol (45%) and others (botting and by-products) Total 80% of IMIL sales occurs in Rajasthan (32-33% market share)
Outlook
We remain positive on the stock and maintain our BUY recommendation We value the stock at Rs 1750 i.e. 15x P/E on FY24E EPS
More Info on Trent
At 12:44 hrs Globus Spirits was quoting at Rs 1,215.00, up Rs 49.85, or 4.28 percent.
It has touched an intraday high of Rs 1,239.75 and an intraday low of Rs 1,168.25.
It was trading with volumes of 17,023 shares, compared to its thirty day average of 38,948 shares, a decrease of -56.29 percent.
In the previous trading session, the share closed down 14.34 percent or Rs 195.05 at Rs 1,165.15.
The share touched its 52-week high Rs 1,760.00 and 52-week low Rs 290.95 on 14 January, 2022 and 25 March, 2021, respectively.
Currently, it is trading 30.97 percent below its 52-week high and 317.6 percent above its 52-week low.
Market capitalisation stands at Rs 3,499.53 crore.
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