Apologies for jumping in in your behalf @vikas_sinha
Globus is a beneficiary of two strong trends: consumer demand for branded IML, and ethanol policy which ensures 100% capacity utilisation for their bulk business as they can make ethanol or ENA depending on demand scenario. Besides, their bulk capacities are doubling in one year.
So they have downside protection from their bulk business which is in demand surplus territory of their consumer business is increasing in share. Unibev business will turn too at some point in time, further increasing margins. And it is still significantly cheaper than all alcohol companies.
Disclosure: Invested from sub 700 levels
Full portfolio here Vineet Jain portfolio