Sula Vineyards slips on reporting weak Q1 biz update

Shares of Sula Vineyards declined 1.27% to Rs 295.75 after the company reported a 7.9% fall in net revenue to Rs 118.3 crore in Q1 FY26 as against Rs 128.4 crore recorded in Q1 FY25.

Revenue from the company?s own brands declined 10.8% year-on-year (YoY) to Rs 102.3 crore, compared to Rs 114.6 crore in the corresponding quarter last year. This decline was due to a slowdown in urban consumption and the effects of excise-driven trade pre-loading in Maharashtra.

Sula reported stable revenue in Q1 FY26, notwithstanding the one-time WIPS unwinding benefit of Rs 10.4 crore in Q1 FY25.

The company's wine tourism segment posted revenue of Rs 13.7 crore in Q1 FY26, up 21.8% as against Rs 11.3 crore in the year-ago period. This growth was fueled by more visitors, record occupancy at its resorts, and higher guest spending. Better access from the newly opened Samruddhi Highway, which cuts travel time between Mumbai and Nashik, also helped this segment.

During the quarter, Sula?s elite and premium wine lines, including The Source and RASA, showed strong growth. The company also introduced Sula Muscat Blanc, India?s first low-alcohol still Muscat wine, with an alcohol content of only 7.5% ABV.

Sula Vineyards is principally engaged in the business of the manufacture, purchase, and sale of premium wine and other alcoholic beverages.

The wine producer reported consolidated net profit fell 3.84% to Rs 13.03 crore in Q4 FY25 as against Rs 13.55 crore posted in Q4 FY24. Revenue from operations (excluding excise duty) rose 2.6% YoY to Rs 125.71 crore during the quarter.

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