Sula Vineyards Reports Steady Revenue in Q1 FY26; Wine Tourism Grows 21.8% YoY

Sula Vineyards Limited, India's largest wine producer, announced its Q1 FY26 Sales Update. The company reported stable revenue, with a 0.2% YoY growth in Revenue from Operations, excluding a one-time WIPS unwinding benefit of INR 10.4 Cr in Q1 FY25. The Own Brands revenue remained subdued due to the slowdown in urban consumption and increased excise duties on spirits. However, Wine Tourism continued to shine with over 20% YoY growth. The company also reported an improvement in the share of Elite & Premium wines and the highest ever Q1 revenue in Wine Tourism. Sula Vineyards launched 'Sula Muscat Blanc', India's first low alcohol still Muscat wine with just 7.5% ABV.