SULA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sula Vineyards has released its Annual Report for FY 2025-26 along with notice for the 23rd AGM scheduled for 25th June 2026 through VC/OAVM. The company, India's largest wine company with 60%+ market share in Elite & Premium wines, reported a challenging year with revenue impacted by softer demand, regional disruptions (Telangana route-to-market issue, Karnataka destocking), and one-off factors. However, Q4 showed recovery with 7% YoY revenue growth. Wine Tourism crossed the INR 100 crore milestone for the first time (INR 113 crore), growing 21% YoY. Net Debt reduced to INR 280 crore from INR 284 crore. Operating expenses declined 2% YoY. The company launched 3 new wines (Sula Muscat Blanc, The Source Chardonnay, The Source Grenache Red). Own Brands share increased to 86% of revenue. Premiumization continued with Elite & Premium share rising 140 bps to 78.4%. The Source range grew 25%+ YoY. Cellar capacity increased by 1 million liters. 3rd resort (The Haven, 50 keys) launched, expanding room capacity 50% to 154 keys. Company signed agreement to acquire Chandon's 19-acre estate in Dindori, Nashik for wine tourism expansion. Renewable energy share increased to 75%.
Sula faced a transitional FY26 with headwinds impacting profitability, but Q4 recovery and strong Wine Tourism momentum (INR 113 crore) signal improving outlook. The company is deleveraging (Net Debt at INR 280 crore) with operating cost reduction initiatives in place. Premiumization trend and new product launches (The Source range growing 25%+) provide growth levers for FY27.