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