Globus Spirits Surges 11% as Production Capacity Expansion Begins

1 Apr 2024 , 02:16 PM

Globus Spirits witnessed an approximately 11% surge in its shares on April 1 following the commencement of commercial production of additional capacity at two existing units in Jharkhand and West Bengal.

The expansion increased the capacity of the units from 140KLPD to 200KLPD in Jharkhand and from 240KLPD to 300KLPD in West Bengal, facilitating the production of various products, including ENA and ethanol.

The company invested ₹142 Crore for the expansion, which aims to enhance production capabilities.

Globus Spirits is engaged in the manufacturing, marketing, and sale of liquors, sanitisers, animal feed, CO2, bioethanol, and bulk alcohol, with distilleries located in Rajasthan, Haryana, West Bengal, and Bihar.

For the quarter ended December 2023, Globus Spirit reported a 64.8% year-on-year surge in net profit to ₹44.4 Crore, accompanied by a 16.1% YoY increase in net sales to ₹687.5 Crore.

Founded in 1993, Globus Spirits Limited, formerly known as Globus Agronics Limited, operates with a commitment to high-quality standards in the spirits business, aiming to create value for stakeholders

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