This country liquor maker’s stock is up nearly 500%
Globus Spirits has outpaced much bigger players like Diageo India and Radico Khaitan in the last one year. Is the ‘high’ here to stay?
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Editor's note: Nimboo, Ghoomar, Heer Ranjha and Narangi. Ever heard of them? Probably not. They are all brands of country liquor that have outpaced more hallowed peers like McDowell’s No. 1 and Royal Challenge by defying industry trends last year, including the disruption caused by COVID-19. Thanks to them, Ajay Swarup and his son Shekhar Swarup have scaled new heights over the last few months. Their “high” is because of the nearly 12.3 million cases of Nimboo, Ghoomar, Heer Ranjha and Narangi that their Globus Spirits Ltd sold in 2020-21. That was a 12% increase in annual sales, a remarkable achievement in an industry badly dented by the pandemic. COVID-19 shut down watering holes and liquor shops for a significant part of the year. By way of comparison, volumes of Diageo India (earlier United Spirits) were down 11.3% in the last financial year. The country’s largest liquor company owns the McDowell’s No.1 and Royal Challenge whisky brands, sales of which grew in the low single digits last year. The improved financial performance is just one part of Globus Spirits's high-spirited run. At …
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