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Buy Globus Spirits; target of Rs 1000: ICICI Direct

ICICI Direct is bullish on Globus Spirits recommended buy rating on the stock with a target price of Rs 1000 in its research report dated November 17, 2022.

November 21, 2022 / 10:31 PM IST
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ICICI Direct's research report on Globus Spirits

Globus Spirits (GSL) is the largest grain based ENA manufacturer in India with a capacity of 250 million litre. The company is also a supplier of Indian made Indian liquor (IMIL) and premium IMFL in India. Consumer segment comprised ~34% of consolidated revenues, with the rest contributed by bulk alcohol (66%) • Total 80% of IMIL sales occurs in Rajasthan (32-33% market share).


However, higher usage of rice straw as power source and availability of coal at better prices remain key monitorables on margins front. We remain positive on the stock and maintain our BUY recommendation.

For all recommendations report, click here

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Globus Spirits - 21 -11-2022 - icici

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first published: Nov 21, 2022 10:31 pm