मैट्रिक्स
 
 

ग्लोबस स्पिरिट्स

बीएसई: 533104  |  NSE: GLOBUSSPR  |  ISIN: INE615I01010  |  Breweries & Distilleries

खोजें ग्लोबस स्पिरिट्स कनेक्शन Mar 16
अध्यक्षीय भाषण साल : Mar '18

Dear Shareholder,

It gives me great pleasure to share with you an update on your Company’s performance for the Financial Year 2017-18. This truly was a defining year as your Company solidified its presence in East India and embarked on a new and exciting journey in premium IMFL through its recently formed subsidiary Unibev Ltd. This reinforces our successful 360° business model allowing us to leverage opportunities across the value chain and geogrpahies.

After the West Bengal plant commenced operations in late H2 FY2017, the year under review was its first full year of operations. The plant quickly ramped up utilization levels to deliver 90% plus capacity utilization during the year, a testimony to the abilities of our technical and engineering team. We also started making in-roads into West Bengal I MIL market and saw good traction for our brand ‘Goldee’. Higher margins in West Bengal driven by a combination of higher alcohol prices and lower raw material prices aided in delivering healthy operating profits despite an unfavourable change in overall product mix.

In what could be a historic moment for your Company, we launched our first premium IMFL product from the stable of Unibev under the aegis of the highly experienced and regarded Mr Vijay Rekhi. Having an association of more than four decades with the spirits industry and having successfully led the largest IMFL company in India, Mr Vijay Rekhi is now leading your Company’s foray in premium IMFL. The first brand launched is a premium brandy named Laffaire in the State of Pondicherry in December of 2017. Having received an extremely encouraging response, the Unibev team is all set to launch more brands and expand geographic footprint in the current financial year.

During the year under review your Company reported Rs 969 crore revenue from operations (net), a growth of 25% over the previous year, combined with stable EBITDA margins. While the higher spreads in West Bengal and continued supremacy in Rajasthan IMIL ensured healthy operational margins, the additional depreciation and debt servicing due to closure of Bihar plant combined with dip in Haryana IMIL weighed down overall profitability.

I am glad to share that there have been some positive developments in the last few months which would could have a significant bearing on your company’s performance in the ensuing periods.

The Bihar government upon orders of the High Court has allowed manufacturing of ENA in the state implying that we can now recommence our distillery and export ENA out of the state and also out of the country. In Rajasthan, which is our largest IMIL contributor, the government has announced a much awaited average price hike of ~ Rs. 31 per IMIL case which would positively impact profitability.

The Biofuel policy recently approved by Cabinet has permitted ethanol manufacturing from various grains. With crude prices rising, the government is seeking to increasingly substitute expensive imports with locally produced bio-fuels and therefore increase the blengin rate of ethanol from 10% to 15% and eventually 20% over a period of time. This could increase ethanol purchases to 300 plus crore litres per annum. The tender documents from OMCs for purchase of ethanol place a premium on grain based ethanol over the traditional molasses based ethanol. This is a welcome move especially when we are in a position to restart Bihar.

Your Compay has evolved significantly over the last few years and particularly in the year under review - I believe that we are in a very interesting phase of our journey and have the potential to rapidly reach new heights.

I take this opportunity to thank our valued employees, business partners, vendors as well as other stakeholders, for their unstinted support during this exciting journey. I would also like to express my sincere gratitude to all of our shareholders for your continued support and encouragement.

Sd/-

Chairman

स्रोत: रेलीगरे टेचनोवा

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