Brands
Globus Spirits Q1 revenue rises 21 per cent as profit jumps nearly 50 per cent
Consumer business drives growth despite tax dispute remaining under appeal
New Delhi: Globus Spirits has raised a toast to a strong start to the financial year, reporting double-digit revenue growth and a sharp rise in profit even as an ongoing tax dispute continues to make its way through the appeals process.
Globus Spirits Limited reported consolidated revenue from operations of Rs 1,151.88 crore for the quarter ended 30 June 2026, up 21.05 per cent from Rs 951.55 crore in the corresponding period last year.
Consolidated net profit after tax climbed nearly 50 per cent to Rs 26.48 crore from Rs 17.69 crore a year earlier, reflecting improved operational performance despite higher input costs and excise duties.
The unaudited results were approved by the company’s board of directors on Friday.
Total expenses during the quarter rose to Rs 1,116.44 crore from Rs 930.41 crore a year earlier. Raw material costs increased to Rs 509.30 crore, while excise duty on sales jumped to Rs 363.10 crore from Rs 251.72 crore in the year-ago period.
Despite the higher cost base, the company’s consumer business emerged as the stronger earnings contributor. The segment posted EBITDA of Rs 42.41 crore, ahead of the manufacturing division’s EBITDA of Rs 36.87 crore, highlighting the growing contribution of branded products to the business.
Alongside its financial performance, Globus Spirits continues to deal with a tax dispute stemming from search and seizure operations conducted by the Income Tax Department in 2023.
The tax authorities subsequently issued assessment orders covering assessment years 2014-15 to 2023-24, disallowing certain expenses. While seven of those years do not carry any tax demand, the remaining three years have resulted in an aggregate demand of Rs 40.94 crore.
The company has already deposited Rs 30.44 crore under protest and filed appeals before the Commissioner of Income Tax (Appeals). According to the financial statements, the company believes it has a strong legal case and has therefore not recognised any provision against the disputed amount.
Independent auditor Walker Chandiok & Co LLP drew attention to the matter in its review report but did not modify its conclusion on the quarterly financial statements.
Elsewhere in the group, joint venture Globus ANSA Private Limited reported a share of loss of Rs 0.84 crore during the quarter. Subsidiary Bored Beverages Private Limited generated revenue of Rs 0.04 crore while posting a net loss of Rs 0.23 crore.
The company also allotted 12,373 equity shares under its Employee Stock Option Plan 2021, taking its paid-up equity share capital to 29.08 million shares.
With revenue crossing the Rs 1,150 crore mark, profits strengthening and its consumer business gathering pace, Globus Spirits enters the rest of the financial year on a firm footing, even as it awaits clarity on the outcome of its long-running tax appeal.
