Sula Vineyards Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Small Cap

Sula Vineyards said that its net revenue grew by 9.7% to 129.6 crore in Q1 FY25 as against Rs 118.2 crore reported in the same period a year ago.

The company's own brands sales stood at Rs 104.4 crore in Q1 FY25, registering a growth of 2.7% year on year.

On the other hand, Wine tourism business declined 2.5% to Rs 11.3 crore in the June quarter from Rs 11.5 crore posted in Q1 FY24.

Sula CEO Rajeev Samant stated, “We are pleased to announce our highest ever Q1 net revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions.

I am also pleased to announce the appointment of Omprakash Singh as Head of Marketing. With a wealth of experience in various FMCG, e-commerce, and media companies like L&K Saatchi & Saatchi and Shemaroo, we're confident Omprakash is the right person to lead Sula’s expanded marketing initiatives moving forward.”

Further, the company said that it will begin bottling at one more unit in Maharashtra, the newly acquired N D Wines facility, this month.

“Given Sula's portfolio exceeding 50 labels across more than 10 brands, the company has decided, after thorough analysis, to transition the Economy and Popular brands to a third-party sales force model in Maharashtra, starting with Mumbai and Pune. This strategy, which has previously yielded strong results in Karnataka and Telangana, will allow Sula’s sales force to focus exclusively on the priority Elite and Premium brands,” the company stated in the press release.

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

The company's comnsolidated net profit declined 4.8% to Rs 13.55 crore in Q4 FY24 as against with Rs 14.24 crore posted in Q4 FY23. Net sales stood at Rs 122.52 crore in Q4 FY24, jumped 8.1% year on year.

Shares of Sula Vineyards added 0.01% to Rs 501.55 on the BSE.

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Net revenue jumped 12.1% YoY to Rs 135.6 crore in Q4 FY24 as compared with Rs 120.9 crore in Q4 FY23.

in Q4 FY24, profit before tax stood at Rs 18.72 crore, down 6.77% YoY.

EBITDA stood at Rs 33.3 crore in Q4 FY24, registering the growth of 5% as compared with Rs 31.7 crore posted in same quarter last year. EBITDA margin reduced by 114 bps to 25.3% in Q4 FY24 as against 26.4% in Q4 FY23.

The company’s own brands sales increased 9.1% to 112.9 crore in the quarter ended 31 March 2024 from Rs 103.5 crore posted in Q4 FY23. In Q4, the wine tourism business posted a strong revenue growth of 31.3% YoY, at Rs 16.4 crore backed by setting new records for visitor numbers, revenue, and tastings over the long Republic day weekend.

During the quarter, revenue from Elite & Premium wines led the overall growth with 14.3% YoY growth.

On full year basis, the company’s consolidated net profit jumped 11% to Rs 93 crore on 10.7% increase in net revenue to Rs 616.4 crore in FY24 over FY23.

Rajeev Samant, MD& CEO, Sula Vineyards, said, “Our premiumization efforts have succeeded in raising our Elite and Premium wine share to an all-time high of 75.1% in Q4, up from 71.7% a year ago. Our Elite and Premium wines achieved 15.5% growth this year, contributing to an over 110 bps increase in our EBITDA margin to an all-time high in FY24.

Our wine tourism revenues grew in double digits, for the fifth quarter in a row. Wine tourism is a top priority and we are expanding fast. Last week we opened Milestone Cellars by Sula, our first standalone Tasting Room/Wine Bar outside our own winery campuses, located a stone’s throw from Nashik airport. We have also signed a new resort next to our York Winery slated to open in mid-2025, which will be our first with convention facilities.

We are pleased to announce the completion of ND wines acquisition in record time. ND wines is now a part of Sula and the site has tremendous wine tourism potential and work is about to begin on expanding the current 120sq ft bottle shop to a 3,600 sq ft wine tourism destination less than 50 km from the Gujarat border.”

Meanwhile, the company’s board has recommended a final dividend of Rs 4.50 per share for FY24. The record date for dividend will be 22 May 2024.

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

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Sula Vineyards announced that the 21th Annual General Meeting(AGM) of the company will be held on 26 June 2024.

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Net profit of Sula Vineyards declined 4.85% to Rs 13.55 crore in the quarter ended March 2024 as against Rs 14.24 crore during the previous quarter ended March 2023. Sales rose 8.06% to Rs 122.52 crore in the quarter ended March 2024 as against Rs 113.38 crore during the previous quarter ended March 2023.

For the full year,net profit rose 11.02% to Rs 93.31 crore in the year ended March 2024 as against Rs 84.05 crore during the previous year ended March 2023. Sales rose 9.92% to Rs 567.73 crore in the year ended March 2024 as against Rs 516.50 crore during the previous year ended March 2023.

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