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Earnings Call

Fratelli Vineyards Earnings Call: Key Takeaways

Fratelli Vineyards reported Q4 FY26 revenue of ₹36cr (up 13% YoY) and achieved operating breakeven. Strategy focuses on premiumization and scaling the new RTD 'Shotgun' brand.

Highlights
Revenue growth13% YoY in Q4 FY26; 1% for full year FY26.
MarginsGross margins healthy at 79%; EBITDA improved to ₹1cr in FY26.
Demand visibilityNormalizing market conditions in key states; strong traction in RTD segment.
Management confidenceHigh; confident in 30% growth and PAT breakeven for FY27.

Growth

FY26 revenue was flat at ₹184cr due to regulatory disruptions. Luxury portfolio (MRP >₹2000) grew 15% YoY.

Outlook

Guidance of 30% revenue growth for FY27 reaching ~₹240cr; target of ₹500cr by 2030 at 20% CAGR.

Risks

Regulatory disruptions in Maharashtra/Telangana and excise policy changes impacted H1 performance; FTAs may impact high-end luxury margins.

Last quarter's promises, checked

Delivered

  • Targeting 100,000 cases of 'Shotgun' RTD by year-end → Delivered 100,000 cases (= BEAT)
  • Recover INR 4cr from overdue holdco receivables in FY26 → Delivered INR 4cr (= BEAT)
  • Targeting 7% revenue growth for FY26 → Delivered 7% revenue growth (= BEAT)

Partly delivered

  • Hospitality project: Negotiating definitive agreement/design → Project deferred (= PARTIAL)

Missed

  • Targeting 10-12% EBITDA margin for FY27 → Delivered ~1% EBITDA margin in FY26 (= MISS)
Source

Earnings Call filed with BSE, BSE: 541741. Summary written with AI assistance from the document.

Read the document ↗

Fratelli Vineyards Ltd: key numbers

Share price
₹135.95
Market cap
₹590.4 Cr
Revenue (annual)
₹152.8 Cr
Net profit (annual)
₹-24.91 Cr
P/E (TTM)
-25.9×Sector 41.4×
Promoter holding
57.19%+0.00% QoQ
FII holding
0.48%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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