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Globus Spirits shares soar on reduced rice prices for ethanol production
20-Jan-25   14:30 Hrs IST

The Ministry of Consumer Affairs, Food and Public Distribution on 17 January 2025 notified a reduction in the price of rice supplied to ethanol producers from Rs 28 per kg to Rs 22.5 per kg. This price decrease is expected to lower input costs for ethanol producers like Globus Spirits.

The cost of rice is a major determinant of ethanol production costs. Lower input costs will boost the profitability of ethanol manufacturers, positively impacting their financial performance.

Globus Spirits is primarily engaged in the business of manufacturing and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), bulk alcohol, hand sanitizer and franchise bottling.

On a consolidated basis, net profit of Globus Spirits declined 89.20% to Rs 1.41 crore while net sales rose 12.50% to Rs 638.06 crore in Q2 September 2024 over Q2 September 2023.

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