Globus Spirits Q2 FY27 Revenue Up 15% YoY

The event was a Q2 and H1 FY27 Earnings Conference Call held on October 30, 2026, hosted by MUFG Intime.
The stated purpose of the event was to discuss the financial performance of the company for the second quarter and first half of the financial year ended September 30, 2026.
The meeting was scheduled after the earnings announcement.
Management participants included:
Mr. Shekhar Swarup – Chief Executive Officer and Joint Managing Director
Mr. Paramjit Singh Gill – Chief Executive Officer, Consumer Division
Mr. Nilanjan Sarkar – Chief Financial Officer
The moderator was Mr. Sumeet Khaitan from MUFG Intime.
The call included a presentation of results and business performance, followed by a Q&A session. Forward-looking statements were noted to involve risks and uncertainties, with references made to the investor presentation and filings on the company's website.
The financial period discussed was Q2 and H1 FY27 (ended September 30, 2026).

Manufacturing Business:

Q2 FY27 Manufacturing Revenue: INR 455 crores
Q2 FY27 Manufacturing Volumes: 55.26 million litres
Q2 FY27 Manufacturing EBITDA: INR 25.4 crores
Q2 FY27 EBITDA per litre: INR 4.6
H1 FY27 EBITDA per litre: INR 5.59
Trailing 12-month EBITDA per litre: ~INR 6.6
Annual Manufacturing EBITDA guidance maintained at INR 5 to INR 7 per litre.
Expectations for the ethanol supply year '26-'27 include greater procurement opportunities for grain-based producers due to reduced sugar-based ethanol availability, potentially leading to higher capacity utilization.

Consumer Business - Prestige & Above (P&A):

Q2 FY27 P&A Revenue: INR 59.9 crores (54% YoY growth)
Q2 FY27 P&A Volumes: 0.46 million cases (64% YoY growth)
Q2 FY27 P&A EBITDA Loss: INR 0.2 crores (nearing breakeven)
H1 FY27 P&A Revenue: ~INR 114.9 crores
H1 FY27 P&A Volumes: ~0.88 million cases
The segment has 5 profitable states out of a 12-market footprint. Expansion plans include 5 additional duty-free channels and entry into 2 new states in FY27. A new brand, DWAAR (Indian blended luxury whiskey), was launched in Haryana, Chandigarh, and Goa.

Consumer Business - Regular and Others (R&O):

Q2 FY27 R&O Revenue: INR 242.8 crores (14% YoY growth)
Q2 FY27 R&O Volumes: 4.24 million cases (16% YoY growth)
Q2 FY27 R&O EBITDA: INR 38.6 crores (4% YoY growth)
H1 FY27 R&O Revenue: ~INR 499.2 crores
H1 FY27 R&O EBITDA: ~INR 82.6 crores
Uttar Pradesh (UP) is a key growth driver, while Rajasthan remains a strong established market. R&O EBITDA margin guidance is 16% to 18%.

Consolidated Financials:

Q2 FY27 Revenue: INR 758 crores (15% YoY growth)
H1 FY27 Revenue: INR 1,541 crores (11% YoY growth)
Q2 FY27 EBITDA: INR 63.8 crores (2% YoY growth)
H1 FY27 EBITDA: INR 143.3 crores (17% YoY growth)
PAT for Q2 FY27 decreased YoY due to additional depreciation from UP operations and a one-time deferred tax benefit in Q2 FY26.
H1 FY27 Cash Flow from Operating Activities: INR 139 crores (compared to INR 270 crores in H1 FY26), moderated by an increase in trade receivables from higher volumes.

Capital Allocation & Balance Sheet:

Completed an INR 200 crores QIP during the quarter.
INR 155 crores of QIP proceeds utilized for long-term debt repayment by September end, contributing to a total debt reduction of INR 200 crores between March and September 2026.
Debt-to-EBITDA ratio improved to ~2x at September end from 2.63x at March end.
Estimated interest savings of ~INR 6 crores in H2 FY27 (~INR 11-12 crores annualized).

The document is a conference call transcript attached to a regulatory filing in compliance with Regulation 30 and Part of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The transcript contains detailed management commentary and Q&A from analysts.