| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 142.56 | 27.1% | 7.1% |
| Total Income | 144.17 | 26.7% | 7.5% |
| Expenditure | 132.05 | 27.6% | 9.6% |
| PBT | 12.00 | 4.5% | 11.5% |
| Net Profit | 8.59 | 5.6% | 34.1% |
| OPM | 19.37% | 3.91pp | 2.01pp |
| NPM | 5.96% | 1.33pp | 3.76pp |
| EPS | 1.02 | 5.6% | 34.2% |
Sula Vineyards Reports 7% YoY Revenue Growth in Q4FY26
06 May 2026 · 6 May, 7:52 pm
Summary
Sula Vineyards reported a revenue growth of 7.1% year-on-year for Q4 FY26, reaching ₹142.6 crore, primarily driven by improved traction in Own Brands and record Wine Tourism performance. Wine Tourism achieved its highest ever revenue of ₹23.9 crore in the quarter and crossed the ₹100 crore mark for the full fiscal year. While Q4 EBITDA saw a slight decline of 2.5% to ₹27.8 crore due to specific cost factors and a prior-year one-off gain, management highlighted an underlying improvement in comparable performance. The company expressed confidence in continued recovery and momentum, underscored by a strategic acquisition to bolster its Wine Tourism segment.
Key Highlights
- 1
Q4 FY26 Revenue from Operations grew by 7.1% year-on-year to ₹142.6 crore.
- 2
Wine Tourism revenue reached a highest ever of ₹23.9 crore in Q4 FY26, marking a 17.5% year-on-year increase, driven by 11% growth in footfalls and 22% growth in room revenue.
- 3
Elite & Premium sales expanded by 11% year-on-year in Q4FY26, contributing to an increased share of 79% (up 400 bps YoY) of Own Brands revenue.
- 4
EBITDA for Q4 FY26 was marginally lower by 2.5% year-on-year at ₹27.8 crore, primarily due to higher blended grape costs and a one-off gain of ₹3 crore in Q4 FY25.
- 5
Wine Tourism revenue crossed the ₹100 crore mark for the first time in FY26, including wine sales at resorts.
- 6
Sula Vineyards strategically signed an agreement to acquire Chandon’s 19-acre estate in Dindori, Nashik, to further expand its Wine Tourism footprint.
Management Comments
Rajeev Samant
I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to growth with revenue up 7% YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism. Within Own Brands, our Elite & Premium portfolio continued to lead the mix, anchored by strong double-digit growth in The Source and RASA. Regionally, Telangana, Uttar Pradesh, and Kerala delivered robust growth, while our two largest markets - Maharashtra and Karnataka, are seeing a progressively improving trend. Wine Tourism once again delivered a strong performance, growing 17% YoY, driven by an 11% increase in footfalls and robust room revenue growth following the launch of The Haven. Notably, the Republic Day long weekend in 2026 set a new record for highest single-day revenue and footfall, surpassing the previous record set during the Christmas weekend in Q3. Importantly, Wine Tourism continued to set new milestones, with revenue crossing the INR 100 crore mark for the first time, including wine sales at our resorts. This sustained momentum reinforces our confidence in Wine Tourism as a powerful and scalable growth engine. On the profitability front, while EBITDA was impacted by higher mix of wine grapes and a one-off gain of INR 3 Cr in the prior year base, the underlying comparable performance improved. Disciplined cost management enabled us to maintain absolute EBITDA, and excluding the one-off gain in the prior year base, both EBITDA and PBT showed a YoY growth. We have strategically signed an agreement to acquire Chandon’s 19-acre, world-class estate in Dindori, Nashik, to expand our Wine Tourism footprint. More details will be announced shortly. Encouragingly, demand conditions have improved meaningfully across our key markets, and we are seeing a steady recovery in Own Brands alongside the sustained strong momentum in Wine Tourism. Overall, the strategic actions we have taken to strengthen profitability are beginning to show results, positioning us well heading into FY27.
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