Sula Vineyards’ Q1 revenue up by 9.7% y-o-y to ₹129.60 Crore

11 Jul 2024 , 03:07 PM

Sula Vineyards Ltd reported a 9.7% increase in net revenue to ₹129.6 Crore in the first quarter of the fiscal year 2025, up from ₹118.2 Crore in the same period last year.

According to a stock exchange statement, the company’s own brands contributed to a 2.7% increase in revenue to ₹104.4 Crore, up from ₹101.6 Crore year-on-year.

However, the company’s wine tourism division had issues, with sales decreasing by 2.5% to ₹11.3 Crore, from ₹11.5 Crore the previous year.

This month, the company will begin bottling at its newly purchased N D Wines factory in Maharashtra.

Given Sula’s portfolio of over 50 labels spanning more than ten brands, the business has decided, following extensive investigation, to shift the Economy and Popular brands to a third-party sales force model in Maharashtra, beginning with Mumbai and Pune.

This strategy, which has already produced good results in Karnataka and Telangana, will let Sula’s sales force to concentrate solely on the priority Elite and Premium brands,” the business stated.

The company announced its highest-ever first-quarter net sales, despite the fact that wine consumption and tourism were hurt by numerous dry days statewide and locally during the Lok Sabha elections, as well as blistering weather conditions.

At around 3.01 PM, Sula Vineyards was trading almost flat at ₹500.80, against the previous close of ₹501.75 on NSE. The counter touched an intraday high and low of ₹510, and ₹498.85, respectively.

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