Sula Vineyards shares tumble nearly 7% after company's Q4 profit declines

Sula Vineyards recorded its highest net revenue, EBITA margin, and PAT at Rs 616.4 crore, 30.2%, and Rs 93.3 crore respectively in FY24. The company also announced a dividend of Rs 4.5 per .

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“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 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,” said Rajeev Samant, of Sula Vineyards.

The elite and premium wine revenue of the company stood at Rs 401.5 crore in FY24, which is up 15.5% YoY. The wine revenue of the company was up by 31% YoY at Rs 16.4 crore in Q4FY24.

“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,” Samant added.

Sula Vineyards is India’s leading wine company, spearheading the charge of Indian wine across the world. Established in 1999, Sula is Nashik’s first winery that paved the way for the emergence of India’s wine capital.

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