Buy Globus Spirits; target of Rs 1050: ICICI Direct

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26 Aug, 2025 12:21

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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 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 1050 i.e. 11x P/E on FY23E EPS

For all recommendations report, click here

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