| Metric | Value (₹ Cr) | vs Q2 FY25 |
|---|---|---|
| Revenue | 216.64 | 53.4% |
| Total Income | 217.54 | 53.2% |
| Expenditure | 180.33 | 45.6% |
| PBT | 37.21 | 105.8% |
| Net Profit | 28.06 | 93.8% |
| OPM | 9.03% | 8.29pp |
| NPM | 12.90% | 2.70pp |
| EPS | 3.32 | 93.0% |
Sula Vineyards Reports Growth in Own Brands led by Elite & Premium; Wine Tourism up 11.6% YoY to Record High Quarterly Revenue
05 Feb 2025 · 5 Feb 2025, 11:49 pm
Summary
Sula Vineyards Limited, India's largest wine producer, announced its Q3 & 9M FY25 results. The company reported a 8% YoY growth in revenue ex-Maharashtra and Karnataka, with 9M net revenue at INR 489.2 Cr (+1.7% YoY). The Elite & Premium segment led the growth, while wine tourism demonstrated strong momentum with 5.6% growth in Q3. The company's net revenue and EBITDA were INR 217.5 Cr and INR 53.9 Cr respectively in Q3. Despite challenges, the company is optimistic about its growth prospects, driven by the Elite & Premium portfolio, robust revenue outside Maharashtra and Karnataka, and the success of its wine tourism segment.
Key Highlights
- 1
Revenue ex-Maharashtra and Karnataka grew 8% YoY
- 2
9M Net Revenue at INR 489.2 Cr (+1.7% YoY)
- 3
Elite & Premium led the way with strong double-digit growth
- 4
Wine Tourism up 11.6% YoY to record high quarterly revenue
Management Comments
Mr. Rajeev Samant
We are pleased to report our 11th successive quarter of growth in the Own Brands business. However, our pace of growth slowed in Q3 impacted by 3 major factors — a broad-based consumption slowdown in urban India, election-related disruptions in Maharashtra, and WIPS credit captured being lower by INR 4.7 Cr vs LY with the capping of WIPS at INR 20 Cr p.a. at our Domain Dindori facility. Having said that we have kicked off production at our Nashik unit and so FY26 onwards, we are well placed to realize 100% of the potential WIPS. Despite the challenges, it is heartening to see a couple of really positive longer-term trends playing out which will continue to power our growth going forward. Our Elite & Premium portfolio continued to see good momentum, even in a subdued environment. Revenue outside Maharashtra and Karnataka remained robust, with over 10 states achieving strong double-digit growth, now contributing 50% to our Own Brand sales. Our Wine Tourism segment also recorded its highest-ever Q3 revenue, growing 11.6% YoY, truly showcasing our unique appeal in hospitality. This segment is poised to end FY25 strongly with the success of SulaFest’25, and the launch of our Dindori Tasting Room & Bottle Shop in Q4. Looking ahead, we are focused on driving profitable growth and target a significant expansion in earnings from FY26 as the consumer demand recovers.
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