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Sula Vineyards Ltd

₹ 2110.05%
07 Jan 10:18 a.m. – close price
🔗sulavineyards.com•BSE: 543711•NSE: SULA
Market Cap₹ 1,785 Cr.
Current Price₹ 211
High / Low₹ 418
Stock P/E130
Book Value₹ 65.0
Dividend Yield1.68 %
ROCE8.54 %
ROE5.76 %
Face Value₹ 2.00
Sales₹ 458 Cr.
OPM15.6 %
Mar Cap₹ 1,785 Cr.

ABOUT

Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the "category creator" of wine in India.[1]

KEY POINTS

Business segments[1]i) Production of wine, import and distribution of wines and spiritsii) Sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms

Also present in buckets:
Aggressive Growth TriggersRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.United Spirits1374.7558.3299992.580.87464.0042.563173.0011.5726.5012658.0018.341714.40486.1211.8812.340.05
2.Radico Khaitan3164.9091.2742375.980.13138.9669.071493.9333.8316.245598.2914.85464.24138.9614.537.980.21
3.United Breweries1577.35109.7241705.950.6446.34-64.802052.83-3.0213.889240.398.32380.0946.529.626.030.18
4.Allied Blenders544.5559.2515231.600.6462.9235.22990.0614.1121.083807.5112.86256.9864.319.796.290.68
5.Tilaknagar Inds.453.8541.1711217.840.2252.68-9.53398.226.2328.191553.6018.89272.4752.684.7820.260.02
6.India Glycols1010.3526.126772.050.5065.0630.881092.2013.6312.353971.0814.53259.1465.062.644.040.86
7.Piccadily Agro605.0554.325959.620.0026.728.32212.2114.7622.68863.6422.86109.7526.697.3710.870.40
8.Sula Vineyards211.35130.431784.791.683.15-57.37111.90-2.898.54457.8515.6413.683.153.223.310.62
–Median: 23 Co.289.0547.751784.140.1319.50.0212.213.5713.24863.648.5555.6519.53.136.030.43

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
180.35193.49165.07107.56118.3591.08110.50117.4989.80115.60129.58115.23111.90
Expenses
118.09126.57130.3775.7487.1980.2678.9990.7681.5377.7987.5693.8294.06
Operating Profit
62.2666.9234.7031.8231.1610.8231.5126.738.2737.8142.0221.4117.84
Other Income
1.652.231.721.721.701.791.614.341.781.231.781.651.29
Profit before tax
52.6055.2222.2521.7419.43-1.1022.3918.80-2.9728.1031.409.194.40
Tax %
25.42%25.48%26.61%24.66%25.01%-17.27%26.08%27.50%64.65%24.45%25.06%19.59%28.41%
Net Profit
39.2341.1516.3316.3814.57-0.9116.5513.63-4.8921.2323.537.393.15
EPS in Rs
4.664.881.931.941.73-0.111.961.62-0.582.602.790.880.37

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
418501387306390493548488458
Expenses
361423333249283336381393386
Operating Profit
587854571071561679672
Other Income
3300351077
Interest
172431322119242626
Depreciation
151934252224272930
Profit before tax
2938-12-0661181274823
Net Profit
1920-8-14988953314
EPS in Rs
12.5913.07-5.42-0.426.2210.4811.223.961.61
Dividend Payout %
-0%-0%-0%-0%39%80%76%91%–

Compounded Profit Growth

10 Years:%
5 Years:50%
3 Years:-13%
TTM:-82%

Compounded Sales Growth

10 Years:%
5 Years:5%
3 Years:8%
TTM:-16%

Return on Equity

10 Years:%
5 Years:12%
3 Years:13%
Last Year:6%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:-13%
1 Year:-49%

Balance Sheet

Standalone figures in ₹ crores

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
151515151617171717
Reserves
311329311313399539558558532
Borrowings
220275357310226192292269339
Other Liabilities
128142160109116142140150106
Total Liabilities
6747618437477578901,008994993
Fixed Assets
276317349318342394417438426
Gross Block
302.38362.60428.47412.26456.56527.51546.24590.71–
Accumulated Depreciation
26.7145.9279.4794.77114.48133.35129.32152.57–
CWIP
120012545
Investments
212626212727284155
Other Assets
376417468409387466558510508
Total Assets
6747618437477578901,008994993

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
171835113778111364
Cash from Investing Activity
-59-59-43-12-39-71-35-69
Cash from Financing Activity
403041-96-69-41-86
Net Cash Flow
-2-11325-31679-91

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
1261141261318578107139
Inventory Days
328304420752904811777810
Days Payable
155152217287381376323332
Cash Conversion Cycle
299265329595608513561616
Working Capital Days
19126-21-153878982
ROCE %
–11%3%6%14%20%19%9%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
27.33%27.33%27.27%26.27%26.27%26.18%25.47%24.66%24.66%24.66%24.35%24.35%
FIIs
7.42%5.86%6.78%20.61%19.69%13.85%12.03%10.60%9.61%7.97%6.68%4.05%
DIIs
8.86%11.76%10.23%17.52%19.56%22.61%22.23%21.68%19.89%18.26%18.25%18.01%
Public
56.39%55.06%55.73%35.60%34.49%37.36%40.26%43.04%45.84%49.11%50.71%53.58%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Sula Vineyards Files Quarterly SEBI Compliance Certificate

10th April 2026, 5:22 pm

Sula Vineyards to Acquire Chandon's Nashik Wine Estate for Expansion

25th March 2026, 11:39 pm

Sula Vineyards Announces Closure of Trading Window

25th March 2026, 9:29 pm

Sula Vineyards Acquires Domaine Chandon Assets for Rs. 20 Crore

25th March 2026, 9:11 pm

Sula Vineyards: Rajeev Samant Re-appointed MD & CEO for Three Years

20th March 2026, 11:53 pm

Published by Other Websites

External media mentions & references

Sula Vineyards Plans Nashik Resort as Wine Tourism Revenue Surges Past ₹100 Cr

31st March 2026, 4:16 pm

Oil Surges Past $100; Mideast Tensions Threaten Indian Market Open

27th March 2026, 8:26 am

Infosys Buys US Firms, LIC Faces Tax Demand, Stocks Surge & Dip

27th March 2026, 7:11 am

Sula Vineyards Acquires Chandon's Nashik Estate for ₹20 Crore

25th March 2026, 10:06 pm

Sula Vineyards Buys Chandon India Estate, Boosts Production Capacity

25th March 2026, 8:32 pm

News Articles

Editorial & research coverage

India Markets: Steel & Banking Shine, Consumer Faces Headwinds
India Markets: Steel & Banking Shine, Consumer Faces Headwinds

9th February 2026, 8:52 am

Sula Vineyards: Destocking Hits Profit, But Tourism & Analyst Optimism Persist
Sula Vineyards: Destocking Hits Profit, But Tourism & Analyst Optimism Persist

6th February 2026, 6:39 pm

Sula Vineyards Profit Plunges 68% Amid Demand Slump, Cost Surge
Sula Vineyards Profit Plunges 68% Amid Demand Slump, Cost Surge

6th February 2026, 6:00 pm

India-EU Pact: Long-Term Hope vs. Near-Term Hurdles
India-EU Pact: Long-Term Hope vs. Near-Term Hurdles

28th January 2026, 9:14 am

EU Trade Deal Splits Indian Market Wide Open
EU Trade Deal Splits Indian Market Wide Open

28th January 2026, 5:48 am

Documents

Announcements

Clarification On Increase In Volume In Response To Letter Received From NSE & BSE Dated December 24, 2025 And December 26, 2025, Respectively

26 Dec - 26 Dec 2025: Sula clarifies increased trading volume; no undisclosed price-sensitive information.

Clarification sought from Sula Vineyards Ltd

26 Dec - Exchange has sought clarification from Sula Vineyards Ltd on December 26, 2025, with reference to Movement in Volume.

Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer

24 Dec - Ms. Shalaka Koparkar resigns as Company Secretary effective COB 24 Dec 2025; replacement to be appointed.

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Newspaper Publication

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Credit Ratings

Rating update

19 Nov 2025 from icra

Rating update

7 May 2025 from crisil

Rating update

10 Jan 2025 from crisil

Rating update

25 Oct 2023 from crisil

Rating update

8 Sep 2022 from icra

Rating update

29 Jul 2022 from crisil

Concalls

Nov 2025

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Nov 2024

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Nov 2023

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Aug 2023

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May 2023

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Stock Analysis

Description

  1. Sula Vineyards Limited is India's largest wine producer and seller, distributing wines and spirits, and operating wine tourism venues.

Key Growth Triggers

  1. Growth is expected from the thriving wine tourism segment and potential new product launches. The company has seen resilience in its premium portfolio.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Recent financial performance has shown revenue and profit declines, compounded by urban demand softness, destocking issues in key markets like Telangana, and supply chain impacts. ICRA has revised its outlook to 'Negative'.

Key Dates To Watch

  1. The company is anticipated to announce its Q3 FY26 financial results and host an earnings conference call in February 2026.

Corporate Announcements

10th Apr 26
Impact Rating: 3
Sula Vineyards Limited has filed its quarterly compliance certificate for the quarter ended March 31, 2026. This filing confirms that dematerialization/rematerialization details were provided to all listed stock exchanges as per SEBI regulations.
25th Mar 26
Impact Rating: 8
Sula Vineyards inks a definitive agreement to purchase Chandon's wine production facility and estate in Nashik, spanning 19 acres. The acquisition aims to enhance its wine tourism footprint and production capacity.
25th Mar 26
Impact Rating: 2
Sula Vineyards announced a trading window closure for directors and designated persons from April 1, 2026. It will reopen 48 hours after the company declares its audited financial results for the quarter and financial year ending March 31, 2026.
25th Mar 26
Impact Rating: 9
Sula Vineyards announced its subsidiary will acquire assets of Domaine Chandon India for ₹20 Crores from Moët Hennessy India, enhancing its wine tourism segment.
20th Mar 26
Impact Rating: 7
Following Board and shareholder approvals, Sula Vineyards Limited secured Central Government clearance on March 20, 2026, to re-appoint Rajeev Samant as MD & CEO for a three-year period from April 1, 2026.