Conference Call with Sula Vineyards Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Breweries & Distilleries company Sula Vineyards announced Q2FY25 results Net Revenue: Rs 142.0 crore compared to Rs 143.7 crore during Q2FY24, change -1.2%. EBITDA: Rs 34.4 crore compared to Rs 45.1 crore during Q2FY24, change -23.8%. EBITDA Margin: 24.2% for Q2FY25. PAT: Rs 14.5 crore compared to Rs 23.1 crore during Q2FY24, change -37.3%. PAT Margin: 10.2% for Q2FY25. EPS: Rs 1.72 for Q2FY25. Rajeev Samant, CEO, Sula Vineyards, said: We are pleased to report our 10th consecutive quarter of growth in our Own Brands business. However, Q2 FY25 was a subdued quarter, due to slowdown in consumer discretionary demand, particularly in urban areas where 90% of our sales are concentrated, and temporary disruptions in key markets like Karnataka and Delhi. During the quarter, our Elite & Premium portfolio performed well with a 7% YoY growth, led by strong double-digit growth in our iconic brands - The Source, RASA, and Dindori. It is encouraging to see wine culture flourishing beyond our core markets, with strong double-digit growth in states like Telangana, Himachal Pradesh, Madhya Pradesh, Uttarakhand, and West Bengal, affirming our commitment to building a truly pan-India brand. Looking ahead, while mindful of near-term challenges, we remain optimistic for the festive season on the back of structural tailwinds including the reopening of Andhra Pradesh after a hiatus of five years, introduction of 4 new labels in the CSD market and the return of SulaFest at our Nashik vineyards. We are confident the long-term Indian wine story remains intact, and we see a long runway of growth ahead of us. Result PDF
Breweries & Distilleries company Sula Vineyards announced Q1FY25 results: Q1 Net Revenue at Rs 129.7 crore (+9.8% YoY) Q1 EBITDA of Rs 35.2 crore (+10.3% YoY) Q1 PAT of Rs 14.6 crore (+6.8% YoY) EBITDA margin expands 14 bps YoY to 27.2% Wine Tourism Expansion Initiatives at ND Wines (Nasik) and Domaine Sula (near Bangalore) slated to open before festive period adding impetus to the H2 performance Monsoon is looking on-track to deliver a healthy harvest and adequate supply of all our wines in 2025 Rajeev Samant, CEO, Sula Vineyards, said: "We are pleased to report our highest-ever first quarter Revenue, EBITDA, and PAT in Q1FY25. This is despite the significant headwinds we faced during the quarter including the national elections which led to restrictions on AlcoBev movement and several dry days, and secondly the scorching heatwave. Both these factors impacted trade offtake and end consumer demand in Q1. A really encouraging trend for us is that wine drinking is picking up well beyond the metros with states like Telangana, Madhya Pradesh, Uttar Pradesh, Haryana, among others performing strongly for us in Q1. One other positive is ‘The Source’ range, which has been a real standout in the Elite & Premium category, growing by 21% YoY in Q1. One of the initiatives we took in Q1 was adopting a new route-to-market in Maharashtra where we have gone for a third-party sales model for our Economy & Popular brands. This strategy has yielded good results. Overall as we look ahead, we hope to build on our first quarter results and deliver a strong FY25." Result PDF