Sula Vineyards Records Over 9% Q3 Profit Surge, Declares Interim Dividend

14 Feb 2024 , 01:18 PM

Sula Vineyards, India’s largest wine manufacturer, reported over a 9% rise in Q3 profit, reaching ₹429.8 Million from the previous year’s ₹392.8 Million.

The growth was fueled by increased demand for premium brands and a thriving wine tourism business. The wine segment, including premium brands Dindori and Rasa, saw nearly a 4% revenue rise, contributing 89% to the total revenue.

The wine tourism segment experienced a substantial 16% revenue increase, driven by higher visits to vineyards in Nashik and Bengaluru, particularly over the extended Christmas weekend.

Total revenue for the quarter increased by 4% to ₹2.18 Billion, indicating positive overall performance. Sula Vineyards demonstrated improved profitability with an expansion in EBITDA margins to 33.7% from 31% YoY. The company declared an interim dividend of ₹4 per share for the financial year 2024, emphasizing a commitment to shareholder returns.

Founded in 1999 by Rajeev Samant, Sula Vineyards has become India’s largest and most awarded wine brand, introducing various grape varietals in the country.

Sula owns and operates two wine resorts, ‘The Source at Sula’ and ‘Beyond by Sula,’ near its Nashik plant, along with tasting rooms at its Nashik winery and the ‘Domaine Sula’ vineyard in Karnataka.

For feedback and suggestions, write to us at [e-mail]