Sula Q3 FY26: Revenue at INR 196 Cr (down 9.7%), EBITDA at INR 32 Cr (down 40%)

Revenue DeclineEbitda Margin CompressionExceptional ItemResults View source PDF Explain this filing

SULA · price

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Price reactionminutes from the announcement price · days from the prior close

+2.1%Reaction day

₹187.99

prior close

₹180.53

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+2.6%-0.5% vs market

Breweries & Distilleries peers, median of 24sector+1.3%+0.8% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.8 pts more than its Breweries & Distilleries peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

+2.1+2.6-0.5+1.3+0.8

Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Breweries & Distilleries peers, median of 24Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Sula Vineyards reported Q3 FY26 revenue of INR 195.7 Cr, down 9.7% YoY, mainly due to one-time tactical destocking in Karnataka (second largest market) to right-size channel inventory amid subdued Bangalore demand. Excluding this one-time impact, Q3 revenue was flat YoY. Wine Tourism hit an all-time high Q3 revenue of INR 22 Cr, up 33.6% YoY, supported by 17% rise in footfalls and 50 new resort keys. EBITDA fell 39.8% to INR 32 Cr with margin compressing 816 bps to 16.3%. 9M FY26 revenue declined 6.7% and EBITDA dropped 37%. Management believes revenue and profitability have bottomed out and expects recovery ahead.

Likely market impact

Weak headline numbers largely driven by one-time Karnataka destocking. Wine Tourism momentum is a positive. Margin pressure remains a concern near-term.