Globus Spirits slips 15% on weak March quarter results

In Q4FY22, EBITDA margin contracted by 720 basis points (bps) year-on-year to 17.6 per cent.

Shares of Globus Spirits slipped 15 per cent to Rs 1,005.85 on the BSE in Wednesday’s trade, after the company reported a disappointed March quarter (Q4FY22). While earnings before interest, taxes, depreciation, and amortization (EBITDA) margin contracted 720 basis points (bps) year on year (YoY) to 17.6 per cent,  it improved by 60 bps on a sequential basis.

The company’s net revenues increased 34.4 per cent YoY to Rs 479 crore from Rs 357 crore, due to new capacity addition in West Bengal and resumption of Haryana and Bihar facilities. Besides that, profit after tax (PAT) de-grew 9 per