Investor & Earning presentation of Fratelli Vineyards Limited on Financial results and operational performance for Q1FY26
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Fratelli Vineyards reported Q1FY26 net revenue of Rs 37 Cr, down 16% YoY from Rs 44 Cr, citing temporary urban consumption slowdown and supply chain optimization. Gross margin remained healthy at 81% though EBITDA turned negative at Rs -2 Cr (margin -5%) versus Rs 4 Cr in Q1FY25, hurt by investments in the newly launched RTD product 'Shotgun' and a temporary excise-related disruption in Maharashtra. Net loss for the quarter widened to Rs -6 Cr from Rs -0.1 Cr. Management outlined its 'Vision 2030' targeting Rs 500+ Cr revenue and 20%+ EBITDA margins, supported by Rs 100 Cr capex over 2-3 years for hospitality and a new Karnataka winery, alongside expansion of the Shotgun RTD brand (already at 5% market share in 9 states).
Shareholders should note near-term pressure on profitability with negative EBITDA and a wider loss, but the company's premium portfolio (>70% of sales), expanding RTD play, and clear multi-year margin roadmap signal management's focus on long-term value creation. Short-term stock sentiment may remain cautious given weak quarterly numbers, though strategic investments could drive future growth.