ALFA Finder| Revenue growth | Net revenue +4% YoY to ₹136 Cr; elite/premium +9%, mix-led. |
|---|---|
| Margins | Gross margin down 280bps on grape costs; EBITDA margin up 82bps to 20.3%. |
| Demand visibility | Premium demand strong; Maharashtra improving; Karnataka subdued by beer-favouring excise policy. |
| Management confidence | Balanced-to-optimistic; cautious on Karnataka, popular segment, gross margins. |
Growth
Revenue +4% YoY to ₹136 Cr, mix-led by premium (+9%) and wine tourism (+24%). Telangana up nearly 40%.
Outlook
Gross margin recovery from Q4 FY27; EBITDA margin target 22–23% over next couple years; FY27 WIPS ~₹49–50 Cr.
Risks
Grape costs hit gross margin through Q3; Karnataka weak; Haryana quota discrimination; EU FTA delayed; drought-linked irrigation controls next season.
Last quarter's promises, checked
Delivered
- Guided Elite/Premium growth → +9% (= BEAT)
- Guided double-digit wine tourism (Q1 +12%) → +24% (= BEAT)
- Guided opex cuts (Q1 -3%) → -4% (= BEAT)
Partly delivered
- Guided Telangana >50% momentum to continue → ~40% (= PARTIAL)
- Guided Karnataka turn in H2 FY27 → still weak in Q2 (= PARTIAL)
- Guided net debt lower vs FY26 → ₹306 Cr, down ₹49 Cr YoY (= PARTIAL)
Missed
- Guided grape drag temporary (~150bps in Q1) → 280bps gross margin hit in Q2 (= MISS)
Earnings Call Transcript filed with NSE, NSE: SULA. Summary written with AI assistance from the document.
Sula Vineyards Ltd: key numbers
- Share price
- ₹141.23
- Market cap
- ₹1,193 Cr
- Revenue (annual)
- ₹555.9 Cr
- Net profit (annual)
- ₹25.65 Cr
- P/E (TTM)
- 44.4×Sector 29.1×
- Promoter holding
- 24.62%+0.00% QoQ
- FII holding
- 0.35%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Sula Vineyards Ltd
All →Sula Vineyards Legal & Regulatory
Sula Vineyards received an Order-in-Original under GST law imposing differential tax of Rs 1,54,34,022 plus penalty of Rs 15,43,402 for FY 2022-23. The company disputes the order and plans to appeal.
- Value
- ₹0.15 Cr
Sula Vineyards Legal & Regulatory
Sula Vineyards received a GST Order-in-Original confirming ₹1.70 Crore in tax and penalty for FY 2022-23, excluding interest. The company disagrees and will appeal.
- Value
- ₹1.70 Cr
Sula Vineyards Investor Presentation: Key Takeaways
Q2 FY27: net revenue INR 135.5 Cr (+4% YoY), operating EBITDA INR 27.5 Cr (+8%), PAT INR 8.1 Cr (+34%). Premiumisation continues; Elite & Premium is 82% of own brands.
Sula Vineyards Results Update
Sula Vineyards reported Q2 FY27 net profit up 34% YoY to Rs 8.1 Crore. The release also flags a fourth hotel and upcoming product launches.
Sula Vineyards Capacity Expansion: ₹25 Cr Investment
Sula Vineyards plans a 30-40 room hotel at York Winery, costing about Rs 25 crore by March 2028. The board also approved Q2 results and de-alcoholised wine diversification.
- Value
- ₹25.00 Cr
- Execution
- Completion by March 2028
- hotel rooms
- 30.0 rooms
Sula Vineyards Q2 FY27 Results: Net Profit ₹8.1 Cr, Up 35.0% YoY
Sula Vineyards Ltd reported revenue from operations of ₹145.4 Cr (+4.1% YoY) and net profit of ₹8.1 Cr (+35.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹8.1 Cr · +35.0% YoY