Earning Call Transcript

Dated : 25th July 2026 The Na(cid:21)onal Stock Exchange of India Limited The BSE Limited Exchange Plaza, C-1, Block-G PhirozeJeejeebhoy Towers BandraKurla Complex, Dalal Street, Fort Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Subject: Conference call Transcript– Q1 FY27 held on 20th july 2026 Dear Sir, This is with reference to the above cap(cid:21)oned subject and in compliance with Regula(cid:21)on 30 read with Part A of Schedule III of the SEBI (Lis(cid:21)ng Obliga(cid:21)ons and Disclosure Requirements) Regula(cid:21)ons, 2015, a<ached herewith the conference call transcript w.r.t. conference call held with Investors on 20th july 2026 to discuss the financial performance of the company for the 1st quarter ended on 30 June 2026 for the financial year 2026-27 Kindly take the aforesaid informa(cid:21)on on record and acknowledge Thanking You Yours faithfully for Globus Spirits Ltd. Santosh Kumar Pa(anayak Company Secretary ACS-18721 “Globus Spirits Limited Q1 FY27 Earnings Conference Call” July 20, 2026 MANAGEMENT: MR. SHEKHAR SWARUP – CHIEF EXECUTIVE OFFICER AND JOINT MANAGING DIRECTOR – GLOBUS SPIRITS LIMITED MR. PARAMJIT SINGH GILL – CHIEF EXECUTIVE OFFICER, CONSUMER DIVISION – GLOBUS SPIRITS LIMITED MR. NILANJAN SARKAR – CHIEF FINANCIAL OFFICER – GLOBUS SPIRITS LIMITED MODERATOR: MR. SUMEET KHAITAN – MUFG INTIME Page 1 of 19 Globus Spirits Limited July 20, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Conference Call of Globus Spirits Limited hosted by MUFG Intime. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded and will be 60 minutes long. I now hand the conference over to Mr. Sumeet Khaitan from MUFG Intime. Thank you and over to you, sir. Sumeet Khaitan: Thank you. Good morning everyone. I welcome you all to the earnings conference call to discuss Q1 FY27 results of Globus Spirits Limited. To discuss the results, we have from the management, Mr. Shekhar Swarup, CEO and Joint Managing Director; Mr. Paramjit Singh Gill, CEO, Consumer Division; and Mr. Nilanjan Sarkar, CFO. They will take you through the results and the business performance after which we will proceed for Q&A session. Before we proceed with the call, I would like to mention that some of the statements made in the today's call may be forward-looking in nature and may involve risk and uncertainties. For more details, kindly refer to investor presentation and other filings that can be found on the company's website. With this, I now hand over the call to the management for their opening remarks. Thank you and over to you, sir. Shekhar Swarup: Hi, good afternoon everyone. This is Shekhar Swarup. Thank you for joining us for the Q1 earnings call of the company. Param and Nilanjan are also with me on the call today. Q1 has been a good start to the year. Revenue from operations grew 13% year-on-year to **INR7,887 million. EBITDA grew 33% to INR795 million and PAT grew **50% year-on-year to **INR278 million. EBITDA margins improved to 10% at an overall basis and PAT margins improved to 4%. The point I want to emphasize here is that this performance reflects structural improvements we've been working on across the business. Better capacity utilization, improved manufacturing profitability, and continued resilience in regulars and others, with stronger traction in prestige and above. Over the last few quarters, we have consistently described Globus as a consumer-focused alcobev company built on a strong manufacturing base. Manufacturing gives us supply security, cost control, quality consistency, and free cash flow. Consumer business gives us the opportunity to build brands, deepen distribution, and improve the quality of growth over time. During the quarter, the manufacturing business performed well. **Note: During the call, Revenue, PAT and PAT growth was inadvertently said as INR 7,887 million, INR 278 million & 50%; please note that Revenue should be read as INR 7,888 million; PAT & PAT growth should be read as INR 276 million & 49% as a factual figure, as reported in the financial results, investor presentation & other filings. Page 2 of 19 Globus Spirits Limited July 20, 2026 Segment grew 11% year-on-year to INR4,720 million. Sales volume stood at 56.11 million litres with capacity utilization at 89%. This business was supported also with strong ENA demand across the states. Overall, the EBITDA margin for this business was *INR6.6 per litre. Manufacturing is not a passive capacity business for us; it is an active operating platform. We continue to optimize between products, raw materials, geographies, and customer opportunities. Our objective is not simply to maximize volume in a quarter; our objective is to optimize margin, cash flow, and strategic supply for our consumer business. The Uttar Pradesh facility is also becoming increasingly important in this context. UP is a key consumer market for Globus. Having manufacturing capability in the state gives us a structural advantage over time. It improves our ability to service demand, manage costs, and support both segments of the consumer business, R&O and P&A, in a disciplined manner. On consumer side, both parts of the businesses have contributed to growth. R&O not only continued to provide resilience and cash generation but has also started growing volumes, while prestige and above has delivered much stronger growth. The consumer business is becoming more meaningful, more diversified, and more visible in the overall performance of the company. For the balance period of FY27, our priorities are clear, keep manufacturing business operating efficiently and within a disciplined margin framework; continue to build R&O as a resilient and growing consumer business; scale P&A with focus on market depth, brand strength, and profitable growth; and of course maintain balance sheet discipline while investing behind the long-term opportunity. We are building Globus quarter by quarter. The objective is to create a stronger, broader, and higher quality alcobev company with manufacturing depth, consumer reach, and financial discipline. With that, I request Param to take you through the consumer business. Paramjit Singh Gill: Thank you, Shekhar. Good morning everyone. I will focus specifically on the consumer business. Q1 was an encouraging quarter for both parts of our consumer portfolio. Regular and others delivered steady growth and profitability while prestige and above continued to scale across markets and brands. Let me start with prestige and above. P&A revenue grew 35% year- on-year and 38% sequentially to INR550 million. Volumes grew 45% year-on-year and 45% sequentially to 0.42 million cases. *Note: During the call, EBITDA per litre was inadvertently said as INR 6.6 please note that EBITDA per litre should be read as INR 6.5 as factual figure reported in financial results, investor presentation & other filings. Page 3 of 19 Globus Spirits Limited July 20, 2026 This growth was broad-based across states and was supported by stronger traction in brands such as Terai, Snoski,and Brothers & Co. The key point is that growth is not dependent on a single brand or a single market anymore. It is coming from geographical expansion, deeper distribution, and better market execution across the portfolio. EBITDA for the quarter was negative INR13 million. We are comfortable with this at the current stage because the investments are going into distribution, brand visibility, as well as market development. Our focus is not just to deliver volume growth but to build markets that can become profitable and sustainable over time. We continue to think about P&A through the same market architecture we discussed earlier, [Showing first 8,000 characters — download PDF for full document]