Sula Vineyards Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Small Cap

Sula Vineyards has granted 12,500 stock options under ESOS on 13 April 2024.

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India's largest and only listed wine producer said that its net revenue grew by 10% to 131.8 crore in Q4 FY24 as against Rs 120 crore reported in the same period a year ago.

The company's own brands sales stood at Rs 113 crore in Q4 FY24, registering a growth of 9% year on year.

Wine tourism business jumped 31% to Rs 16.4 crore in the fourth quarter of FY24 from Rs 12.5 crore posted in Q4 FY23.

During FY24, net revenue increased by 10% YoY to Rs 608.6 crore. For FY24, the firm’s own brands sales grew 11% YoY while wine tourism business climbed 22% YoY.

Elite and Premium own brands grew over 15% YoY in Q2 FY24 and FY24.

Rajeev Samant, CEO, Sula Vineyards, stated, “Our focus on premiumization continues to deliver results and we are pleased to announce yet another quarter of double-digit growth in our Elite and Premium Own Brands. Our world-renowned wine tourism business has had a strong quarter with a growth of 31% YoY in Q4. We achieved our highest ever annual footfall of over 4 lakh wine adventurers passing through our gates and we have some exciting expansion plans on the anvil, with our first ever Tasting room outside our own premises set to open near Nasik airport later this month.”

Meanwhile, Sula also announces the acquisition of N D Wines, a winery in Nasik district, with the transaction on track to close by the end of April 2024

Samant added, I am pleased to announce Sula's acquisition of N D Wines. Strategically located on the highway less than 50 km from the Gujarat border in Dindori; N D Wines presents a great opportunity for expanding our wine tourism footprint. We anticipate a seamless integration of N D’s operations into our own within Q1 itself. This is Sula’s second acquisition in three years and highlights that we are always on the lookout for good strategic M&A opportunities.”

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.

The company reported 9.41% consolidated net profit to 43.32 crore in Q3 FY24 as compared with Rs 39.28 crore posted corresponding quarter last year. Revenue from operations stood at Rs 203.04 crore in the quarter ended 31 December 2023, up 6.50% year on year.

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The Board of Sula Vineyards at its meeting held on 04 April 2024 has approved the execution of the share purchase agreement (“SPA”) with the existing shareholders of N D Wines for the purchase of entire shareholding of 32,80,000 equity shares, which would result in the Company holding 100% of the equity share capital of N D Wines thus making it a wholly owned Subsidiary.

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On the BSE, 18.67 lakh shares of the company traded in the counter as against an average trading volume 93,030 shares in the past three months.

On the NSE, 2.15 crore shares of the company traded in the counter as against an average trading volume 11.36 lakh shares in the past three months.

The stock had a 9% drop in one month, but increased 20% in three months and 47% in one year.

According to media reports, Verlinvest Asia was to sell its entire 8.34% stake in the Nashik-based vine maker.

However, Sula Vineyards responded to this news by informing the stock exchanges that they were unaware of Verlinvest Asia's intention to offload its entire 8.34% stake in the company. Sula Vineyards emphasized that this decision was solely made by Verlinvest Asia as an investment choice and was not discussed with them. Furthermore, Sula Vineyards expressed the belief that this development would not impact the company.

Sula Vineyards reported 9.41% consolidated net profit to 43.32 core in Q3 FY24 as compared with Rs 39.28 crore posted corresponding quarter last year. Revenue from operations stood at Rs 203.04 crore in the quarter ended 31 December 2023, up 6.50% year on year.

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.

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