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
Conference Call with Sula Vineyards Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Brewries & Distilleries company Sula Vineyards announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Revenue at Rs 135.6 crore, up by 12.1% YoY Revenue from Elite & Premium wines led the overall growth, with 14.3% YoY growth EBITDA at Rs 33.3 crore, 5.0% YoY EBITDA margin 114bps to 25.3% from 26.4% YoY PAT at Rs 13.6 crore, down by 4.9% YoY FY24 Financial Highlights: Net Revenue at Rs 616.4 crore, up by 10.7% YoY Revenue from Elite & Premium wines led the overall growth with 15.5% YoY growth EBITDA at 183.6 crore, up by 14.0% YoY EBITDA margin 108bps to 30.2% from 29.1% YoY PAT at Rs 93.3 crore, up by 11% YoY ROCE at 25.2%, up by 221 bps The Board has recommended a final dividend of Rs 4.5 per share, taking the total FY24 dividend to Rs 8.5 per share Rajeev Samant, CEO of the company, said "We are pleased to report an all-time high quarterly and full year revenue. Our premiumization efforts have succeeded in raising our Elite and Premium wine share to an all-time high of 75.1% in Q4, up from 71.7% a year ago. Our Elite and Premium wines achieved 15.5% growth this year, contributing to an over 110 bps increase in our EBITDA margin to an all-time high in FY24. Our wine tourism revenues grew in double digits, for the fifth quarter in a row. Wine tourism is a top priority and we are expanding fast. Last week we opened Milestone Cellars by Sula, our first standalone Tasting Room/Wine Bar outside our own winery campuses, located a stone’s throw from Nashik airport. We have also signed a new resort next to our York Winery slated to open in mid-2025, which will be our first with convention facilities. We are pleased to announce the completion of ND wines acquisition in record time. ND wines is now a part of Sula and the site has tremendous wine tourism potential and work is about to begin on expanding the current 120sq ft bottle shop to a 3,600 sq ft wine tourism destination less than 50 km from the Gujarat border. All these projects, and more to come, will ensure that Sula remains firmly in the forefront of wine tourism in India. A great harvest, booming wine tourism, and growing consumer preference for our premium Indian wines point to a sunny road ahead for Sula! " Result PDF