GLOBUS SPIRITS ipo listing date is Today, With a public issue of 75 lakh equity shares of Rs. 10 each in the band of Rs. 90 to Rs. 100 per share.
The Company is an established liquor player having two distilleries in Rajasthan and Haryana each, with capacity of 144 lakh bulk liters, for each site.
Financial performance of the company for FY09 has also been quite good with sales of Rs. 281 crores and PAT of Rs. 12.93 crores, resulting in an EPS of Rs. 10.55 on its pre - IPO equity of Rs. 12.26 crores. Even Q1 of FY10 has posted good performance with total income of Rs. 92 crores and PAT of Rs. 6.78 crores, giving an EPS of Rs. 5.55 for the quarter. This implies an EPS of Rs. 20 plus, for FY10, on pre-IPO equity and issue now being made at a PE of 5 times, even at the Upper band of Rs. 100.
Promoters stake in the company, post IPO, would be at around 60%, which looks comforting.
Considering all these, issue is recommended even at the upper band of Rs. 100. Thanks
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