Breweries & Distilleries company Sula Vineyards announced Q1FY26 results Revenue from Operations: Rs 118.3 crore compared to Rs 118.0 crore during Q1FY25, change 0.2%. EBITDA: Rs 18.3 crore compared to Rs 33.9 crore during Q1FY25, change -46.1%. EBITDA Margin: 15.5% for Q1FY26. Rajeev Samant, CEO, Sula Vineyards, said: We reported steady revenue from operations in Q1FY26, excluding the one-time WIPS gain recorded in Q1FY25. Own Brands growth was muted due to continued urban demand softness, and a lower trade placement of wine in June’25 in Maharashtra - our #1 market, as announcement of excise duty hike on spirits prompted heavy pre-loading of spirits by distribution at pre-revision prices. However, that said, this is a positive development going forward for the company and wine industry in Maharashtra. Encouragingly, despite these headwinds, states such as West Bengal, Goa, UP, Rajasthan, among others recording healthy double-digit growth. In terms of portfolio mix, share of Elite & Premium increased 300+ bps YoY to 74.7% with The Source and RASA continuing to see strong traction. Wine Tourism remains a bright spot, growing 22% YoY led by higher footfalls, record Q1 occupancy and spend per guest. Our new wine tourism offering – Dindori Tasting Room & Bottle Shop at ND wines, near the Gujarat border is now open and welcoming visitors. Upcoming projects – ‘The Haven by Sula’ our 30-key resort near York and the new tasting room at Domaine Sula are on-track to open in time for this festive season. With these expansions and recent opening of Samruddhi Highway reducing the Mumbai-Nashik drive time by 45 minutes, the outlook for wine tourism remains strong. In other exciting news, furthering our legacy as India’s wine pioneers, we are pleased to launch India’s first aromatic low-alcohol still Muscat wine - Sula Muscat Blanc. The Source Moscato, our first sparkling Muscat is the fastest wine from the Sula stable to hit 10K cases and we expect Muscat Blanc to emerge as a consumer favorite too. Looking ahead, while the year began on a challenging note, we remain firmly focused to deliver healthy operating profit growth for the rest of FY26. Result PDF
Breweries & Distilleries company Sula Vineyards announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue from Operations: Rs 133.1 crore vs Rs 131.7 crore up 1.1% Operating EBITDA: Rs 28.5 crore vs Rs 29.5 crore down 3.4% Operating EBITDA Margin: 21.4% vs 22.4% down 98 bps Profit After Tax (PAT): Rs 13.0 crore vs Rs 13.6 crore down 3.9% PAT Margin: 9.7% vs 10.0% down 27 bps Basic Earnings Per Share (EPS): Rs 1.55 vs Rs 1.61 down 3.7% FY25 Financial Highlights: Revenue from Operations: Rs 619.4 crore vs Rs 608.7 crore up 1.8% Operating EBITDA: Rs 149.1 crore vs Rs 175.9 crore down 15.2% Operating EBITDA Margin: 24.1% vs 28.9% down 482 bps Profit After Tax (PAT): Rs 70.2 crore vs Rs 93.3 crore down 24.8% PAT Margin: 11.3% vs 15.1% down 387 bps Basic Earnings Per Share (EPS): Rs 8.32 vs Rs 11.06 down 24.8% Rajeev Samant CEO, Sula Vineyards said: "We are pleased to report our highest-ever revenue from operations in both Q4 and FY25. While this marks a significant milestone, our Own Brands sales were relatively subdued in Q4, impacted by few key factors: the continued slowdown in urban consumption, lower WIPS credit, contraction in exports, and short-term retailer destocking in Uttar Pradesh & Uttarakhand prior to the new excise policy announcement. Despite the ongoing slowdown, it is encouraging to see good traction in some of the markets across India with ten states including Haryana, Rajasthan, Chandigarh, Assam, etc. as well as CSD delivering healthy double-digit growth in Q4. This fits in well with our endeavor of creating a truly pan-India brand. Further, ‘The Source’ range continues to be a standout, clocking robust double-digit growth in Q4 and FY25, powering forth our Elite portfolio. On a positive note, we have listed 4 new wines in CSD including our blockbuster Dindori Reserve Shiraz which bodes very well for our CSD sales growth in FY26 & beyond. Our Wine Tourism segment closed FY25 on a strong note with 25% YoY growth in Q4 led by successful SulaFest’25 and strong performance of the resorts. Further, we are on course to open our latest addition, the Dindori Tasting Room & Bottle Shop at ND Wines later this month. On the profitability front, concerted focus on optimizing overheads helped keep our EBITDA largely intact in Q4 despite subdued sales growth and lower WIPS credit. Looking ahead, we are firmly focused on enhancing profitability and getting back to earnings growth in FY26." Result PDF