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Globus Spirits and Radico Khaitan Among Top Gainers on the Stock Markets

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Led by Globus Spirits on the back of strong results, the breweries and distilleries shares were on a roll during an intraday trade today. The liquor companies’ shares grew between 20 to three per cent in an otherwise subdued market as the BSE Sensex fell by 0.34 per cent.

Amid strong Q4 results on Tuesday, Globus Spirits hit an upper circuit of 20 per cent to Rs 531.3 per share. While Radico Khaitan and Associated Alcohols & Breweries hitting a new 52-week high, jumped near 10 per cent to Rs 803 per share on the BSE intraday yesterday. However, experts are also expecting this trend to continue for another few days.

Individually, Globus Spirits rallied over 36 per cent in the last four sessions, as the company, on the back of strong revenue, reported over a two-fold rise in consolidated profit at Rs 50.63 crore in the March-ended of FY21 versus Rs 19.35 crore in the same period a year ago.

The EBITDA margin of the company grew by over 1,140 bps year-on-year to 24.9 per cent in the fourth quarter of FY21 from 13.5 per cent in Q4 FY20 amid a higher share of consumer business and better realisations on ENA (Extra Neutral Alcohol) and ethanol.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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