Latest news with #SulaVineyard
&w=3840&q=100)
Business Standard
07-08-2025
- Business
- Business Standard
This wine maker's share price dips 6% as Q1 profit nosedives 87% YoY
Sula Vineyards share price: Wine maker Sula Vineyards share price was under pressure on Thursday, August 7, 2025, with the scrip plunging up to 5.90 per cent to an intraday low of ₹262.25 per share. At 1:05 PM, Sula Vineyards share price was trading near day's low level, down 5.3 per cent at ₹263.9 per share. In comparison, BSE Sensex was trading 0.52 per cent lower at 80,127.87 levels. What led to the fall in Sula Vineyard's share price today? Sula Vineyards shares fell after the company posted a weak set of results in the June quarter of financial year 2026 (Q1FY26). The company's profit tanked 86.7 per cent year-on-year (Y-o-Y) to ₹1.9 crore in Q1FY26, from ₹14.6 crore in Q1FY25. Sula Vineyards' revenue from operations dropped 7.9 per cent Y-o-Y to ₹118.3 crore in the June quarter of FY26, from ₹128.4 crore in the June quarter of FY25. At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) slipped 46.1 per cent Y-o-Y to ₹18.3 crore, from ₹33.9 crore in the same quarter last year. Ebitda margin squeezed 1096 basis points (bps) to 15.5 per cent in Q1FY26, from 26.4 per cent in Q1FY25. On the bright side, wine tourism revenue grew 22 per cent Y-o-Y to ₹13.7 crore in Q1FY26. The growth in wine tourism was driven by increased footfalls, highest-ever resort occupancy (82 per cent in Q1FY26 versus 70 per cent in Q1FY25) and spends per guest (up 6 per cent Y-o-Y). Rajeev Samant, CEO of Sula Vineyards said, 'We reported steady revenue from operations in Q1 FY26, excluding the one-time WIPS gain recorded in Q1FY25. Own Brands growth was muted due to continued urban demand softness, and a lower trade placement of wine in June'25 in Maharashtra - our #1 market, as announcement of excise duty hike on spirits prompted heavy pre-loading of spirits by distribution at pre-revision prices. However, that said, this is a positive development going forward for the company and wine industry in Maharashtra. Encouragingly, despite these headwinds, states such as West Bengal, Goa, UP, Rajasthan, among others recording healthy double-digit growth. In terms of portfolio mix, share of Elite & Premium increased 300+ bps Y-o-Y to 74.7 per cent with The Source and RASA continuing to see strong traction.' 'Wine Tourism remains a bright spot, growing 22 per cent Y-o-Y led by higher footfalls, record Q1 occupancy and spend per guest. Our new wine tourism offering – Dindori Tasting Room & Bottle Shop at ND wines, near the Gujarat border is now open and welcoming visitors. Upcoming projects – 'The Haven by Sula' our 30-key resort near York and the new tasting room at Domaine Sula are on-track to open in time for this festive season,' Samant added. He further said that with ongoing expansions and the recent opening of the Samruddhi Highway – cutting Mumbai-Nashik travel time by 45 minutes – the outlook for wine tourism remains robust. In other developments, continuing our legacy as India's wine pioneers, we are proud to launch the country's first aromatic, low-alcohol still Muscat wine: Sula Muscat Blanc. Our sparkling Muscat, The Source Moscato, became the fastest Sula wine to reach 10,000 cases, and we expect Muscat Blanc to become a consumer favorite as well. While the year began on a challenging note, we remain focused on delivering strong operating profit growth through the rest of FY26. About Sula Vineyards Sula Vineyards Limited is India's leading wine company, commanding over 50 per cent of the domestic market. With a diverse portfolio of nearly 70 labels across multiple price points, Sula has become the go-to brand for wine lovers across the country. Beyond winemaking, Sula has built a thriving wine tourism business, featuring a luxury vineyard resort and wine-themed restaurants in Nashik and near Bangalore – establishing itself as the preferred wine destination for discerning Indian consumers. Operating five state-of-the-art wineries in Maharashtra and Karnataka, Sula produces and distributes over 1 million cases annually. The company has pioneered several industry firsts, including India's first Winery Tasting Room (2005) and the country's first vineyard resort (2010), which now attracts more than 330,000 visitors each year.
Economic Times
11-06-2025
- Business
- Economic Times
Liquor stocks like United Spirits, Sula Vineyard in focus as Maharashtra hikes excise duties
Shares of liquor companies such as United Spirits, Sula Vineyard, United Breweries, and Allied Blenders and Distillers are set to be in focus on Wednesday, after the Maharashtra government approved sweeping changes to liquor taxation and regulation aimed at boosting excise revenues. ADVERTISEMENT The Maharashtra state cabinet, chaired by Deputy Chief Minister Devendra Fadnavis, on Tuesday approved a significant hike in excise duties on liquor alongside a series of structural reforms to tighten oversight and expand revenue collection. The measures are expected to add approximately Rs 14,000 crore annually to the Excise Department's revenue. Following the cabinet's decision, several liquor companies have reportedly raised prices across categories in the state. This comes as the excise duty on Indian-made foreign liquor (IMFL) with a declared manufacturing value of up to Rs 260 per bulk litre has been revised from three times to 4.5 times the manufacturing value. Similarly, the duty on country liquor has increased from Rs 180 to Rs 205 per proof litre. Consumers across Maharashtra will face higher prices at both retail outlets and hospitality establishments. The minimum retail price for a 180 ml bottle of country liquor has increased to Rs 80 from Rs 70. Indian-made foreign liquor has gone up to Rs 205 from Rs 110–115, while premium foreign liquor now starts at Rs 360, up from Rs 210. A new category, Maharashtra-made liquor, has been introduced, with a minimum price of Rs 148 for a 180ml cabinet also approved the creation of a new liquor category called Maharashtra-made liquor, which will be grain-based and produced exclusively by Maharashtra-based manufacturers. Producers will need to register new brands under this classification. ADVERTISEMENT In parallel, licensing costs for businesses operating in the liquor trade have been revised upward. Sealed foreign liquor retail licences (FL-2) will now incur an additional 15% fee, while hotel and restaurant licences (FL-3) will be subject to a 10% enhance regulatory oversight, the government has established a new divisional office in Mumbai, along with six new superintendent offices across key districts — Mumbai suburbs, Thane, Pune, Nashik, Nagpur, and Ahilyanagar. The organisational revamp includes the creation of 1,223 new posts, comprising 744 fresh positions and 479 supervisory roles. ADVERTISEMENT An integrated control room will also be set up, equipped with an AI-based system to monitor liquor manufacturing, distilleries, and wholesale activity across the state. The move stems from recommendations submitted by a secretary-level study group that reviewed policies and best practices from other states. Also read | Maharashtra cabinet gives nod to hike excise duty on liquor, grant statutory status to SC commission (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
