In today’s briefing:
- The Beat Ideas: Globus Spirits- Maize, Capex, B2C Play
- Nesco: Mixed Q1FY25, However On Track for Robust Growth
The Beat Ideas: Globus Spirits- Maize, Capex, B2C Play
- In Q4FY24, Globus Spirits (GBSL IN) changed its raw material from rice to maize to improve the margin and stability in margins.
- Globus Spirits (GBSL IN) increased its capacity in Q4 recently 120KLPD, 60 each in Jharkhand and West Bengal.
- Recently, the government also removed the ban on using FCI grain and sugarcane for Ethanol production.
Nesco: Mixed Q1FY25, However On Track for Robust Growth
- Nesco reported a mixed Q1FY25. The IT Park business reported strong growth led by improved occupancy. IT Park revenue grew 20%+ YoY and 7.4% QoQ.
- The BEC business saw decline in its revenue due to seasonality. Q1 tends to be the weakest quarter for BEC. This also impacted the Nesco Foods business to an extent.
- BEC revenue declined -19% YoY. Nesco Foods revenue declined -14% YoY. Overall, Nesco’s PBT increased 7% YoY, however PAT declined -8% YoY due to deferred tax impact.
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