Tue. Dec 5th, 2023

Sula Vineyards has registered a growth of 5 percent in its consolidated net profit for the quarter ending March of fiscal 23 at ₹14.24 crore, up from a net profit of ₹13.5 crores clocked in the corresponding quarter last fiscal.

The homegrown winemaker saw an 8 percent rise in operating profit or EBITDA to ₹31.7 crores compared to ₹29.4 crores a year ago.

The revenue from operations jumped 7 percent to ₹120 crore in the recently concluded quarter, up from ₹112.05 crores for the year-ago period.

Segment-Wise Revenue Break-up:

The winemaking company clocked a 14.5 percent increase in its Own Brands revenue to ₹103.5 crore in Q4FY23 compared to ₹90.4 crore in Q4FY22.

Wine tourism revenue marked an uptick of 18.1 percent to ₹12.5 crores during the period under consideration compared to ₹10.5 crores a year ago.

Own brands revenue contribution rose 86.3 percent in Q4FY23 from 80.7 percent in Q4FY22, with volume growth of 14.4 percent.

Full Year Highlights:

Sula Vineyards posted a net profit of Rs 84 crore, a high 61% year-on-year. Revenue jumped 22% to Rs 553 crore.

The wine tourism business posted a record revenue growth of 30% YoY. The Nashik-based winemaking company’s vineyard resorts had a record 82 % occupancy with an ARR of Rs 10,500.


“FY23 has been a landmark year for us as we went public in December 2022 and have ended the year with a record-breaking performance. We have reported an all-time high EBITDA of Rs. 161 Cr registering a growth of 38% YoY and a record PAT at Rs. 84 Cr growing at 61% YoY.”

“Our Own brands have been the star of the show, with their contribution to revenue going to 87%, a massive 23% jump from FY20. Led by our successful focus on premiumization within our Own brands, revenues from Elite & Premium wines have grown 29% YoY supported by a strong volume growth of 24% in this category. It was a booming year for our wine tourism business with over 3.4 lakh visitors from across the country and the globe visiting our iconic vineyards in Maharashtra and Karnataka,” said Rajeev Samant, CEO of Sula Vineyards.

Dividend Announcement:

Sula Vineyards, which was listed on bourses in December last year, has approved a final dividend of ₹5.25 per share of face value ₹2 per equity share for FY 2022-23.

The company’s shares have increased about 28% since listing, and the year till date is about 21 percent higher.


By Harshita Sharma

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