Globus Spirits Limited — Investor Meet, 19-01-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Globus Spirits Q3 FY26: Consumer Prestige & Above volumes surged 37% (ex-Delhi), with R&O stable. Manufacturing delivered 86% capacity utilization and ₹7.5/liter EBITDA margin, benefiting from structural gross margin expansion. Delhi operations are normalizing, and Q4 P&A volume growth is targeted at 50%.

A new UP distillery (₹200 Cr capex) commissioning soon will significantly boost UP margins. The company is raising up to ₹500 Cr for consumer business growth, including malt whiskey inventory. Management remains confident in achieving FY29 targets, including 15-17% P&A EBITDA margins and 5 million cases in UP, driven by organic expansion and strong internal innovation. Net debt is ₹570 Cr.