Globus Spirits Management Guidance Tracker

Management expects 50% year-on-year volume growth in the Prestige and Above segment in Q4, driven by Delhi normalization and new state entries.

Guidance maintained at ₹5-7 per liter EBITDA margin for the manufacturing business, assuming 80-85% capacity utilization.

Long-term target for the consumer PNA segment, supported by integrated model and premiumization.

Management expects manufacturing EBITDA per liter to remain in the ₹5-7 range for FY27, with Q4's ₹8.3 being an outlier.

For the Regular & Others segment, management guided EBITDA margins of 16-18%, down from Q4's 18% due to UP's lower-margin mix.

The ₹200 Cr grain ENA distillery in UP will be capitalized in Q4, adding 100,000 L/day capacity and improving margins.

After refinancing, annual debt repayment obligation dropped from ₹67 crore to ₹14 crore, freeing up ₹53 crore in liquidity.

Management stated that internal cash flows and debt optimization have eliminated the immediate need for external equity.