Excellent lager presented to king (7)
I believe the answer is:
stellar
'excellent' is the definition.
(I've seen this in another clue)
'lager presented to king' is the wordplay.
'lager' becomes 'stella' (Stella Artois).
'presented to' is a charade indicator (letters next to each other).
'king' becomes 'R' (abbreviation of Latin rex).
'stella'+'r'='STELLAR'
(Other definitions for stellar that I've seen before include "Astral" , "Exceptionally good" , "Top-notch" , "Relating to the stars" , "Wonderful" .)