Globus Spirits Ltd

Result Presentation

Key Business Highlights of Q1FY26 3 Manufacturing Consumer Capacity utilisation at 81% (72% in Q1FY25 and 67% in Q3FY25). Growth likely due to improved Raw Material scenario. No challenge expected on demand side. Prestige & Above: Strong growth - Volumes were up 40% QoQ and Revenue up 36% QoQ Bulk Alcohol Sales at 54.52 Mn Ltrs (up 10% QoQ and up 11% YoY) due to improved capacity utilisation Temporary Disturbance in New Delhi due to excise policy change in June. Business has normalised since. ENA demand and prices were stable for the quarter, demand expected to grow in Q2 & Q3 ahead of festive season. Regular & Others: Rajasthan secured a price increase of 4.35% effective Apr’25, Margins to stabilise around 17% as per expectations Fuel Cost Up by 12% QoQ in line with expectations due to seasonality Regular & Others: Rajasthan continues to perform well with. Volume growth of 8% YoY. Overall volumes grew at 1% YoY due to contraction in Haryana and Delhi. Margins for the quarter 17% Input / Grain Cost – Broken Rice and Maize declined 4% and 9% QoQ respectively due to maize harvest and increased supply of rice Prestige & Above category broke even for two months in Q1. On Path to become profitable. Net Revenue Rs. 6,990 Mn ▲7% QoQ ▲9% YoY Rs. 600 Mn ▲40% QoQ ▲20% YoY Reduced Debt Rs. 400 Mn Net of Acceptance PAT Rs. 185 Mn ▲194% QoQ ▲13% YoY

Segment Performance - Standalone Consumer - Prestige & Above (P&A) ` 4 ✓Business is operating at close to break even rate (April and May’25). Delhi policy change impacted June’25; leading to an overall EBITDA margin of -3% in ✓Delhi Liquor Policy extended till March 2026; Business is now as usual ✓Uttar Pradesh(UP) continues to progress well; Other states’ performance is in line with expectations ✓EBITDA decline on YoY basis is on account of exceptional revenue mix in Q1FY25 ✓Strong revenue growth due to price increase and improving product mix in Rajasthan ✓Total segment Volume growth muted due to erratic policy actions in Delhi and Haryana. ✓EBITDA per litre at ~Rs 6 in Q1FY26, grew ~100% QoQ ✓Capacity Utilization stood at 81% in Q1FY26 ✓Further growth in capacity utilisation expected in balance period of the year. Consumer - Regular & Others (R&O) Manufacturing Segment (includes Ethanol | ENA | By-Products | Franchise Bottling) Rs. 407 Mn 50% YOY Sales Volume (cases) 0.29 Mn 51% YOY Rs. -12 Mn 65% YOY Rs. 2,325 Mn 10% YOY Sales Volume (cases) 3.98 Mn 1% YOY Rs. 390 Mn 9% YOY Rs. 4,258 Mn Rs. 222 Mn 6% YOY 109% YOY Growth Trajectory Continues Margin Stable QoQ at 17% Recovery in Margins

Profit & Loss Highlights - Standalone 5 Particulars (Rs Mn) YoY (%) QoQ (%) FY25 FY24 YoY (%) Net Revenues from Operations 6,990 6,421 9% 6,545 7% 25,360 24,147 5% Other Income 23 18 31% 36 -37% 96 135 -29% Total Income 7,013 6,439 9% 6,581 7% 25,456 24,282 5% Consumption of Material 4,826 4,562 6% 4,513 7% 17,970 16,558 9% Gross Margin % 31% 29% 31% 29% 32% Employee Cost 282 216 31% 223 27% 877 790 11% Other Expenditure 1,305 1,159 13% 1,370 -5% 4,980 5,100 -2% 600 501 20% 476 26% 1,628 1,834 -11% EBITDA Margin 9% 8% 7% 6% 8% Reclassification of Supplier Finance Charges 0 0 -48 0 0 - Restated EBITDA 600 501 20% 428 40% 1,628 1,834 -11% Depreciation 216 195 11% 208 4% 816 656 24% Finance Cost 146 83 77% 130 12% 460 261 76% Profit Before Tax 238 224 6% 90 165% 352 917 -62% Tax Expense (Current, Deferred) 53 60 -12% 27 95% 102 -51 -300% Profit After Tax 185 164 13% 63 194% 250 967 -74% • Finance Cost incurred on Supplier Financing through TReDS was earlier reported under Cost of Goods Sold, and is now reclassified to Finance Cost and as a result • Results of Standalone are only analysed as the difference between standalone and consolidated in terms of revenue for Q1FY26 is Rs. 16.12 Mn & for PAT is Rs 8 Mn

Consistent Strength in Key Ratios – Q1FY26 Standalone 6 Cash Return on Equity (%) 20% 17% 11% 14% FY23 FY24 FY25 Debts Service Coverage Ratio (X) 9.84 1.67 1.56 1.55 FY23 FY24 FY25 Current Ratio (X) 1.09 1.04 0.96 1.36 FY23 FY24 FY25 Note*: Q1 performance have been annualized Consumer Mix in Total Revenue (%) 35% 34% 39% 39% FY23 FY24 FY25 FY23 the ratio is High as the moratorium for the term loan ended in FY24

Prestige & Above

High Growth Segment; Nearing EBITDA Breakeven as Operations Scaling Up 9 Dual pronged strategy: a) Growing distribution with Prestige and Semi Premium brands b) Offering innovative Super Premium and Luxury brands leading to growth in profitability Prestige & Above Segment - EBITDA Margin (%) Trend -65% -55% -62% -12% -3% -100% -80% -60% -40% -20% 0% FY22 FY23 FY24 FY25 • Deluxe Segment: Leveraging growth opportunities by catering to the increasing consumer preference for premium and prestige offerings. • Semi Premium Segment: Focused on attracting value-conscious consumers seeking an upgrade to premium offerings at accessible price points. • Premium and Luxury Segments: Innovative world class products delivered at the right price. Brands that have a focus on craftsmanship, superior packaging and an intrinsic storyline. Consumer-Centric Approach Fuelling Demand

10 ✔Profitability improving with volume growth; Closer to breakeven in UP and Delhi (policy decision impacted in June’25) ✔Current portfolio of 12 brands across Whisky, Gin, Vodka and Rum segments ✔Forayed into Beer and launched Carib 500 ML Strong Beer in UP ✔Currently present in 9 States. -35 -12 0.19 0.29 272 -181 -281 -161 FY23 FY24 FY25 0.21 0.38 0.91 FY23 FY24 FY25 328 452 1,293 FY23 FY24 FY25 140% 186% 43% 65% 51% 50% QUARTERLY ANNUALLY

Recognised with Prestigious Awards & Accolades in a short period 12 DÔAAB India Craft Whisky TERAI India Dry Gin SNOSKI Crafted Vodka Brothers & Co. Whisky Mountain Oak Whisky

Forayed into Beer Segment - CARIB® Commercial Production Started 13 Awards and Recognitions About CARIB® ▪Authentically Caribbean: CARIB® Beer, owned by the ANSA McAL Group of Companies in Trinidad & Tobago, embodies the vibrant spirit and culture of the Caribbean. ▪Made in India, for India: Brought to India by Globus ANSA Private Limited (GAPL)—a joint venture between Globus Spirits Limited and ANSA McAL Limited—CARIB Premium Strong Beer is now locally brewed for Indian consumers. ▪Now Brewing in UP: Commercial production of 500 ml CARIB Premium Strong Beer cans began on May 5th at a contracted facility in Ghaziabad, UP. ▪Market Launch: Available in UP at a maximum retail price (MRP) of ₹130 per can, bringing a taste of the Caribbean to Indian shores Key Development

Stable Growth Segment; Market Leadership in Key States 15 Revenue (Rs Mn) 6,744 6,865 7,416 8,643 FY22 FY23 FY24 FY25 • Business is currently present in 4 states with 76% of total sales coming from Rajasthan. • Fast moving cash cycle with low asset base. As on June'25 total capital employed (net working capital) is Rs 10 Cr. • Entered Uttar Pradesh in H2FY25 - a high-potential and highly profitable market with large industry(~10M cases/month), large population, and affordable pricing. Own spirit production will support a robust gross margins of ~34%. • Continued Focus on brand innovations in the segment has enabled entry into the large and growing price conscious consumers, with favourable demographics patterns further aiding growth. GSL’s Strategy To Maintain Its Leadership Position 9% CAGR

16 ✔Fast moving cash-cycle with Low Asset Base and High Profitability (16%-17% EBITDA margins) ✔Revenue in Q1FY26 increased by 5% QoQ, while EBITDA grew 2% QoQ. ✔Key Growth Drivers: o Forayed into U.P which has a market size of 10 Mn cases per month, - GSL recorded sales of 0.13 Mn cases in o Received price hike in Rajasthan of 4.35% and in UP, wef 1st Apr’25, expected to help increase profitability and revenue growth. 3.95 3.98 2,114 2,325 1,151 1,404 1,413 FY23 FY24 FY25 14.06 14.16 15.80 FY23 FY24 FY25 6,865 7,417 8,643 FY23 FY24 FY25 430 1% 10% 12% 17% 1% QUARTERLY ANNUALLY

Our Millionaire Brands – Regular & Others Segment 17 WHITE LACE Ghoomar ▪Rooted in Tradition, Crafted for Refreshment: Inspired by the vibrant folk dance of the Bhil tribe, Ghoomar captures the celebratory spirit of Rajasthan. Deeply woven into the cultural fabric of the state, the name evokes joy, movement, and festivity. Perfectly suited for the dry, arid heat of the desert, Ghoomar is a refreshing drink that brings cool relief and local flavor to every occasion. Heer Ranjha ▪Rooted in Romance, Distilled with Purity: Heer Ranjha by Globus Spirits is a clean-tasting spirit that echoes a deep-rooted connection to the land. Inspired by the timeless love story that has lived on for nearly five centuries, this spirit pays tribute to a legend still celebrated in the heart of rural Rajasthan. With every sip, the legacy of Heer and Ranjha is rekindled—pure, enduring, and unforgettable. ▪Clean & Versatile: A refined vodka crafted in Rajasthan, known for its crisp character and versatility. Available in two distinct variants, it features delicate notes of fennel and orange— designed to complement a wide range of flavour profiles. ▪Emerging Favourite: Steadily gaining popularity among discerning consumers, thanks to its smooth taste, contemporary appeal, and easy pairing across cocktails and mixers.

Manufacturing

GSL’s Strategy to focus on Alcohol Deficit States 19 • Strategic investments in 6 Beverage and Biofuel distilleries across North and East India • Total capacity of ~335Mn Ltrs, Including UP that is currently under construction. • All units consist of bottling infrastructure that is available for own brands as well as for private labelling • Ability to utilise multiple grains – allows a natural hedge between raw materials. • State of art technology comprising of high quality DDGS production, corn oil, high quality ENA for supply to beverage companies in India and across the world. • Multi fuel boilers for steam production with captive power plants. Agri wastes such as rice husk, mustard husk, farm wastes and rice straw used selectively based on regional availability. • Captive Malt Spirit Production and Maturation to support growth of brands • Awarded Prestigious Grand Gold by Monde Selection for Quality of Neutral Alcohol produced. Revenue (Rs Mn) 9,000 13,912 16277 15,423 FY22 FY23 FY24 FY25 20% CAGR

20 ✔Total Capacity stood at ~301 Mn Litres per annum, and utilisation at 81% in Q1FY26. Bulk Alcohol revenue growth is 8% YoY and 6% QoQ ✔EBITDA Margin per Liter has been Rs 6 per BL in Q1FY26 due to favourable raw material scenario in the country. From Jan’25, Food Corporation of India announced a policy for supply of surplus rice and broken rice from their inventories until 2027. ✔Maize secured at fixed prices – 17% of total maize consumption for the balance period of the year ✔FY26 – Corn Oil production started in WB. Under commissioning in Bihar and Jharkhand, once complete, will add Rs. 20 Cr to annual revenues thus providing a valuable hedge to further raw material price movements. In the current year, the company has managed to secure maize contracts and hence secure margins East India produces 20 % of India’s maize crop. In FY26 there is growth in cultivation of 17% To reduce volatility of margins, the company embarked upon a project to transition to maize. 84% of the total allocation will be from Maize based ethanol due to the geographical advantage of our Eastern Units. Commercial Strategy 13,912 16,277 15,423 4,039 4,258 FY23 FY24 FY25 EBITDA Rs. Per litre 8 7 3 2 3 6 FY22 FY23 FY24 FY25 Historical Average Rs. 7 6% QoQ 100% QoQ

Existing State-of-the-Art Units – Total Capacity of ~301 Mn Ltr 21 1 3 6 4 5 2 Lakhimpur Kheri, Uttar Pradesh Bottling (started in Apr’24) 100 KLPD Distillation (likely completion in Q3FY26) ENA (fungible between molasses and grain) Dhandua, Bihar 28.9 million litres Bulk Sales –ENA & Ethanol Panagarh, West Bengal 102 million litres Regular & Others, Prestige & Above , Bulk Sales – ENA & Ethanol, Contract Bottling Behragoda, Jharkhand 68 million litres Bulk Sales – ENA & Ethanol Samalkha, Haryana 47.6 million litres Regular & Others, Prestige & Above, Bulk Sales – ENA & Ethanol, Contract Bottling Behror, Rajasthan 54.4 million litres Regular & Others, Prestige & Above, Bulk Sales – ENA Only 1 2 3 4 5 6 Existing Upcoming

Status of the Uttar Pradesh Project 22 Brief Description Completion Timeline Purpose • Bottling of Premium & Above and Regular & Others brands is already commissioned. There is sufficient headroom available for expansion of bottling capacity if required. • Construction of Multi-Feed distillery capacity is underway and likely to be complete in Q3FY26 • The project is aimed be a strategic supply hub for expansion of our entire portfolio of brands in the the State. • Once commissioned, cost of goods will be reduced by 13% for all brands. In addition, time to service customer demand will reduce from 5 days to 2 days. • Location of plant gives access to Maize, Rice and Molasses. The plant is also centrally located in the state to keep logistics costs and service period low. • Expected Q3FY26.

Board of Directors & Management

Board of Directors and Management Team 24 Management Team Chairman • Sunil Chadha Independent Directors • Kenneth Dsouza • Amit Bhatiani • Ruchika Bansal Board of Directors Executive Directors • Ajay Kumar Swarup • Shekhar Swarup • R K Malik • Amitabh Singh Ajay Kumar Swarup Managing Director • Joined the family business in 1981 after having earned his MBA at the Indian Institute of Management (IIM), which at the time dealt with sugar, edible oil, and alcohol. • Founded Associated Distilleries Limited in 1983 and then subsequently went on to establish Globus Spirits Limited in 1993. Shekhar Swarup Joint Managing Director • After studying Marketing and Finance at the University of Bradford in the U.K., he made the conscious decision to join the family business and dive into steering the company’s growth. • He has contributed significantly to scaling up the Company’s operations in both Manufacturing and Consumer divisions. R K Malik Whole Time Director • Joined Globus Spirits in 1986 and now leads operations across North India. As former GM of the Behror plant, he scaled capacity from 5,000 to 40,000 cases/day. • Under his leadership, Globus became Rajasthan’s #1 value liquor producer, driven by quality, innovation, and operational excellence. Amitabh Singh Whole Time Director • An Engineering Graduate from the DEI Faculty of Engineering, Dayalbagh (Agra) with certifications in energy auditing and boiler operations, and over 26 years of cross-industry experience. • He has played a key role in scaling Globus Spirits through strategic leadership and process-driven initiatives. Paramjit Singh Gill CEO - Consumer Division • 31+ years of progressive experience in the FMCG industry in India and abroad. Joined Globus Spirits Ltd in 2020. • Work Experience: President & CEO at Allied Blenders & Distillers Ltd. (ABD), and President - All India Operations, at Diageo India. Nilanjan Sarkar Chief Financial Officer • A qualified professional ICWA (CMA) with rich experience of over 29+ years in diverse industries, 19+ years in Spirits. • Work Experience: United Breweries Group, United Spirits Ltd, Diageo India, and Allied Blenders & Distillers Santosh Kumar Pattanayak CS, Compliance Officer • B.Com, LLB, ACS, and Diploma in Computer Software from APTECH. • Work experience: Phoenix Overseas Ltd, Magnum Strips and Tubes Pvt. Ltd

Let’s Connect Mr. Nilanjan Sarkar, CFO Phone : +91 11 6642 4600 Email : nsarkar@globusgroup.in Ms. Pooja Sharma / Mr. Suyash Samant Phone : +91 22 6239 8024 Email : pooja.sharma@stellar-ir.com suyash@stellar-ir.com Stellar IR Advisors Pvt. Ltd. Globus Spirits Limited