Globus Spirits targets significant growth by FY29 with consumer business expansion

Globus Spirits Limited announced its strategic vision for FY29, targeting over INR 2,200 crores in total consumer category revenue with more than 17% margins. The Prestige & Above (P&A) category is expected to contribute 25% of these revenues, reflecting accelerated growth from under 5% in H1 FY23 to over 15% in H1 FY26. This growth will be fueled by investments in new brands, geographical expansion, and product launches, with Uttar Pradesh identified as a key driver. The company's portfolio, including brands like Terai, DOAAB, and Mountain Oak, is currently available in 10 states and is planned to expand to 17 states with the addition of CSD.

For Q2 FY26, standalone revenue reached INR 661 crores, a 4% year-on-year increase, with H1 FY26 revenue at INR 1,360 crores, up 6% year-on-year. EBITDA for Q2 FY26 was INR 63 crores (up 89% year-on-year) and INR 123 crores for H1 FY26 (up 47% year-on-year), with margins at 9% for both periods. The regular and other categories saw revenue grow 5% year-on-year to INR 444 crores in H1, maintaining an EBITDA margin of 17%. The P&A category revenues grew significantly by 55% year-on-year to almost INR 80 crores in H1 FY26, with three business states already profitable.

The company also shared insights into its manufacturing business, projecting healthy revenue growth (almost 10% CAGR) driven by higher capacity utilization, the new Uttar Pradesh distillery coming online, and conversion from ethanol to ENA as markets grow. Management reiterated its strategic guidance for manufacturing business EBITDA margins to be 5%-7% over the long term, with periods of higher profitability due to favorable raw material prices.