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Sula Vineyards reports revenue growth of 7% YoY in Q4 FY26
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Saturday, 09 May, 2026, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Sula Vineyards Limited, India’s largest wine producer, announced its Q4 & FY26 Results. Q4 FY26 Revenue 7% YoY driven by improved traction in own brands and strong double-digit growth in wine tourism.
Wine Tourism revenue of Rs 23.9 crore in Q4 FY26; 17% YoY led by double-digit growth in footfalls (+11% YoY) and robust increase in room revenue (+22% YoY) with launch of our 3rd resort - The Haven by Sula. Elite & Premium sales 11% YoY in Q4 FY26 led by strong double-digit growth in The Source & RASA. Elite & Premium share up 400 bps YoY to 79%. EBITDA marginally lower YoY, impacted by higher blended grape cost (higher mix of wine grape vs. table grape) and a one-off gain of Rs 3 crore in Q4 FY25 (prior year) on account of one-time catch-up impact of pricing on the closing inventory in Karnataka.
Rajeev Samant, CEO, Sula Vineyards, said, “I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to growth with revenue up 7% YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism. Within Own Brands, our Elite & Premium portfolio continued to lead the mix, anchored by strong double-digit growth in The Source and RASA. Regionally, Telangana, Uttar Pradesh, and Kerala delivered robust growth, while our two largest markets - Maharashtra and Karnataka, are seeing a progressively improving trend. Wine Tourism once again delivered a strong performance, growing 17% YoY, driven by an 11% increase in footfalls and robust room revenue growth following the launch of The Haven. Notably, the Republic Day long weekend in 2026 set a new record for highest single-day revenue and footfall, surpassing the previous record set during the Christmas weekend in Q3. Importantly, Wine Tourism continued to set new milestones, with revenue crossing the INR 100 crore mark for the first time, including wine sales at our resorts. This sustained momentum reinforces our confidence in Wine Tourism as a powerful and scalable growth engine.”
“On the profitability front, while EBITDA was impacted by higher mix of wine grapes and a one-off gain of Rs 3 crore in the prior year base, the underlying comparable performance improved. Disciplined cost management enabled us to maintain absolute EBITDA, and excluding the one-off gain in the prior year base, both EBITDA and PBT showed a YoY growth. We have strategically signed an agreement to acquire Chandon’s 19-acre, world-class estate in Dindori, Nashik, to expand our Wine Tourism footprint. More details will be announced shortly. Encouragingly, demand conditions have improved meaningfully across our key markets, and we are seeing a steady recovery in Own Brands alongside the sustained strong momentum in Wine Tourism. Overall, the strategic actions we have taken to strengthen profitability are beginning to show results, positioning us well heading into FY27,” concluded Samant.
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