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SULA · Sula Vineyards Ltd · Beverages (Alcoholic)

SULA · Sula Vineyards Ltd · Beverages (Alcoholic)

₹137.79+0.0%

As of 06 Nov close

52-week range

52wk low ₹125.352wk high ₹261.85

47.4% below 52-week high

52-week range: as of 06 Nov 2026 close.

Price chartDaily closes on the stock page.

Stock Condition:Pro

Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.

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Fundamentals as of 15 Sep 2026 · the company's own latest record is 53 days old

Profit declined YoY for 2 straight quartersFII holding falling for 2+ quartersPromoter holding rose this quarter

Revenue (latest Q)

₹121 Cr

Revenue YoY

PAT YoY

-45.4%

Operating margin

Revenue, last 8 quarters

P/E (TTM)

P/B

2

P/S (TTM)

1.9

Sector P/E

16.4

Dividend yield

+1.5%

CompanyP/EP/BNet marginROED/EDiv. yield
SULA (this stock)52.22+4.1%+4.2%0.57+1.5%
United Spirits62.711.3+6.8%+21.0%0.05+1.2%
Radico Khaitan75.117.6+3.3%+21.2%0.24+0.2%
United Breweries89.47.3+2.2%+8.8%0.29+0.8%

Promoter

rising 2q

FII

falling 3q

MF

16.22% (-1.05pp)

falling 3q

Insider trades

No insider trades in the last 12 months.

Bulk/block deals

No bulk/block deals in the last 12 months.

News timeline

No related news.

Concalls & investor presentations

AI-generated
Concall transcriptMixed13 Aug 2026
View source filing →

Key takeaway: Sula Vineyards Limited held its Q1 FY27 Earnings Conference Call on August 7, 2026, where management reported a 3% revenue growth driven by a recovery in the Own Brands business and double-digit growth in Wine Tourism. The Own Brands segment grew by 2%, with the Elite & Premium portfolio increasing by 6%. Management noted that Telangana and Haryana showed strong double-digit growth, while Karnataka remained soft. The company expanded its distribution and introduced new wines, which received positive market responses. Wine Tourism revenue grew by 12%, contributing approximately 13% to overall revenue. However, EBITDA was impacted by higher grape costs and a shift in the grape procurement mix. Management indicated that operating costs were reduced by 3%, and they remain focused on cost optimization. The call concluded with a Q&A session addressing various operational and market-related queries.

Management highlighted both growth opportunities and challenges in the current operating environment.

Sourced from an exchange-filed transcript, dated 13 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationNeutral06 Aug 2026
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Key takeaway: The investor presentation submitted by Sula Vineyards Limited on August 6, 2026, detailed the company's unaudited financial results for the quarter ended June 30, 2026. The presentation highlighted a net revenue from operations of INR 112.9 crore, reflecting a 3.0% year-over-year increase, and a gross profit of INR 77.3 crore, up 4.7% YoY. The company reported an operating EBITDA of INR 16.6 crore, a 9.3% increase YoY. Sula's own brand revenue grew by 2.0% YoY, with a notable 6.2% growth in its elite and premium portfolio. The wine tourism segment also showed strong performance, with revenue increasing by 12.3% YoY. The presentation emphasized the completion of the Chandon estate acquisition, now named Domaine Rāsā, and outlined ongoing expansion plans in wine tourism and product development. Management noted challenges such as lower gross margins due to increased grape costs but indicated that these would normalize in future periods.

The presentation provided a balanced overview of financial performance and strategic initiatives without strong emphasis on positive or negative aspects.

Sourced from an exchange-filed presentation, dated 06 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive13 May 2026
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Key takeaway: During the Q4 FY26 earnings conference call, management reported a 7% year-on-year revenue growth, driven by improved performance in own brands and wine tourism. The Source range saw significant growth, with sales increasing over 35% in Q4. Management highlighted strong growth in Telangana, UP, and Kerala, while Karnataka showed improvement after corrective actions. Wine tourism revenue grew 17% year-on-year, with over 4 lakh visitors in FY26. Despite a decline in EBITDA due to higher grape costs and a one-time gain in the previous year, management noted effective cost control measures. The company plans to expand its wine tourism segment and has received preliminary approval for additional wine listings. Management expressed optimism about future growth, particularly in wine tourism, and highlighted a commitment to renewable energy, achieving a 75% share in FY26. The call concluded with a Q&A session addressing various operational and strategic queries.

Management emphasized growth and improvements in various segments.

Sourced from an exchange-filed transcript, dated 13 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationMixed06 May 2026
View source filing →

Key takeaway: The investor presentation submitted by Sula Vineyards Limited on May 6, 2026, detailed the audited financial results for Q4 and FY26. The presentation reported a 7% year-over-year increase in revenue from operations, amounting to INR 142.6 crore, driven by growth in own brands and wine tourism. Own brand revenue rose by 5.4% to INR 115.4 crore, with the elite and premium portfolio growing by 10.6%. Wine tourism revenue reached INR 23.9 crore, reflecting an 18% increase. However, gross profit declined by 3% due to higher grape costs and a one-off gain in the previous year. The presentation highlighted strategic actions taken to control operating expenses and improve performance, positioning the company favorably for future growth. Additionally, Sula announced plans for new product launches and expansions in wine tourism, including the acquisition of a wine estate in Nashik.

The presentation highlighted both growth in revenue and challenges in profit margins.

Sourced from an exchange-filed presentation, dated 06 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptMixed13 Feb 2026
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Key takeaway: Sula Vineyards Limited held its Q3 and 9M FY26 Earnings Conference Call on February 9, 2026, where management discussed the challenging quarter marked by a tactical destocking decision in Karnataka due to subdued demand. CEO Rajeev Samant reported that, excluding the destocking impact, revenues were in line with the previous year. He noted a recovery in demand in Maharashtra and growth in Telangana, while other markets like UP and Goa also showed strong performance. The Source range of wines continued to grow, contributing significantly to the portfolio. Wine Tourism experienced a 34% year-on-year revenue increase, driven by higher footfalls and the opening of a new resort. CFO Abhishek Kapoor highlighted a decline in EBITDA due to the destocking impact and adverse geographic mix, but expressed optimism for future growth in Own Brands and Wine Tourism. The management acknowledged the challenges posed by the India-EU FTA but remained confident in their strategic positioning.

The management reported both challenges and positive developments in various segments.

Sourced from an exchange-filed transcript, dated 13 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationMixed06 Feb 2026
View source filing →

Key takeaway: Sula Vineyards Limited submitted its investor presentation for Q3 and 9M of FY26, detailing its unaudited financial results for the period ending December 31, 2025. The presentation highlighted a revenue from operations of Rs. 195.7 crore, reflecting a 9.7% year-over-year decline, while gross profit decreased by 13.6% to Rs. 116.9 crore. Operating EBITDA saw a significant drop of 39.8% to Rs. 32.0 crore. The company reported a 12.9% decline in own brand revenue, attributed to a one-time tactical destocking in Karnataka. However, wine tourism revenue increased by 33.7% to Rs. 22.0 crore, driven by strong footfall growth and the launch of a new resort. Management noted that demand conditions improved across key markets, excluding Bengaluru, and outlined plans for further expansion in wine tourism and product offerings. The document also emphasized the company's market leadership and robust distribution network.

The presentation reported both challenges in revenue and significant growth in wine tourism.

Sourced from an exchange-filed presentation, dated 06 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

AI Summary of Annual Report

AI-generated
FY2025-26285 pages

Sula Vineyards Limited (SULA) reported strong market leadership in India's premium wine segment with over 60% market share. The company maintains robust internal controls and governance practices, with no significant audit issues or regulatory defaults noted. Financially, SULA has no defaults in loan repayments or interest payments, and it complies with all debt covenants. The company has not faced any regulatory actions or insolvency proceedings, and its internal financial controls are deemed effective by auditors. SULA also emphasizes sustainability and corporate social responsibility, with no material legal disputes or compliance issues reported.

  • SULA holds #1 position in India's Domestic Elite & Premium Wines with 60%+ market share.
  • No defaults in loan repayments or interest payments, with full compliance to debt covenants.
  • Robust internal financial controls confirmed by auditors, with no material weaknesses identified.
  • No regulatory actions, insolvency proceedings, or material legal disputes reported.
  • Active in sustainability initiatives and corporate governance, with no compliance issues noted.

Key takeaway: Sula Vineyards Limited demonstrates strong market leadership, financial stability, and effective governance with no material risks or defaults reported.

The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.

Filed with NSE · 29 May 2026View source filing →

Governance disclosures

AI-generated

Needs attention

No item of a kind that needs attention was stored for this company.

Contingent Liability

3 occurrences

Recent (last 12 months)

Annual Report29 May 2026 (FY2025-26)· 4 passages
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The company has provided a corporate guarantee of INR 84.32 crores and INR 20.72 crores for its subsidiary Artisan Spirits Private Limited, related to loans sanctioned and outstanding amounts.

Earlier (1-3 years ago)

Annual Report02 Jun 2025 (FY2024-25)· 7 passages
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The company provided a corporate guarantee on behalf of Artisan Spirits Private Limited, which is disclosed as a deemed investment in the non-current investments section.

Annual Report01 Jun 2024 (FY2023-24)· 4 passages
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The company has disclosed the impact of pending litigation on its financial position as at 31 March 2024, as detailed in Note 32(A)(i) & 32(A)(ii) to the standalone financial statements.

Related-Party Transaction

3 occurrences

Recent (last 12 months)

Annual Report29 May 2026 (FY2025-26)· 4 passages
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The company has transactions with related parties including purchases of raw materials and director's sitting fees, commissions, and short-term employee benefits to key managerial personnel.

Earlier (1-3 years ago)

Annual Report02 Jun 2025 (FY2024-25)· 2 passages
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Sula Vineyards Ltd has provided a loan of INR 8.37% to a related party for working capital requirements, repayable before 31 March 2028.

Annual Report01 Jun 2024 (FY2023-24)· 6 passages
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The company provided a loan of 8.37% p.a. to Artisan Spirits Private Limited, a subsidiary, for working capital requirements, with an unsecured guarantee. The loan is repayable before 31 March 2028.

Management & Board Governance

1 occurrence

Earlier (1-3 years ago)

Annual Report01 Jun 2024 (FY2023-24)
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Mr. Arjun Anand and Mr. Riyaaz Amlani have resigned from the Board of Sula Vineyards Limited with effect from April 4, 2024.

Promoter Share Pledge

1 occurrence

Recent (last 12 months)

Structured Filing Data (NSE Pledge Disclosure)18 Jul 2026

9.45% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).

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