as attached
SULA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sula Vineyards reported Q4 FY26 revenue of INR 142.6 Cr, up 7% YoY, marking a recovery after several tough quarters. Wine Tourism hit a record INR 23.9 Cr in Q4, growing 17% YoY with 11% footfall growth and 22% room revenue growth, crossing INR 100 Cr annually for the first time. The Elite & Premium portfolio grew 11% YoY, now representing 79% of sales (up 400 bps). However, Q4 EBITDA declined to INR 27.8 Cr from INR 28.5 Cr due to higher grape costs and a one-off INR 3 Cr gain in Q4 FY25 base. Full year FY26 revenue declined 3.7% to INR 596.2 Cr, with EBITDA down 30.6% to INR 103.5 Cr and margins compressed 671 bps to 17.4%. The company also signed an agreement to acquire Chandon's 19-acre estate in Dindori, Nashik for Wine Tourism expansion.
While Q4 showed encouraging recovery with 7% revenue growth, the full-year EBITDA decline and margin compression reflect ongoing cost pressures. Wine Tourism remains a strong growth driver. Shareholders should monitor whether the Q4 recovery trend continues into FY27 given the weak full-year performance.