Sula Vineyards Q1 Results: Profit Tumbles To Rs 1.94 Crore, Margin Narrows
The company's wine tourism segment recorded a 22% rise in its top line to Rs 13.7 crore.
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Sula Vineyards Ltd.'s net profit slumped 87% in the quarter ended June of the current financial year.
The winery's bottom line fell to Rs 1.94 crore during the April-June period, against to Rs 14.63 crore for the year-ago period, according to an exchange filing on Wednesday.
Sula Vineyards Q1 FY26 Highlights (Consolidated, YoY)
Revenue down 9.3% to Rs 109.64 crore versus Rs 120.93 crore.
Net profit down 87% to Rs 1.94 crore versus Rs 14.63 crore.
Ebitda down 46% to Rs 18.3 crore versus Rs 33.96 crore.
Margin at 16.7% versus 28.1%.
Sula Vineyard reported a decline in its revenue incurred from its own brands to Rs 102.3 crore during the April-June period, compared to Rs 114.6 crore for the same period last year. Its wine tourism segment recorded a 22% surge in its top line to Rs 13.7 crore for the first quarter from Rs 11.3 crore for the year ago period.
Rajeev Samant, chief executive officer at Sula Vineyards, said the company reported a steady revenue from operations in the first quarter of fiscal 2026, excluding the one-time gain recorded in Q1 FY25.
Samant emphasised that the company's own brands reported a muted growth due to continued urban demand softness, and a lower trade placement of wine in Maharashtra in June 2025 due to the announcement of excise duty hike on spirits.
Shares of Sula Vineyards closed 0.85% lower at Rs 278.45 apiece on the NSE, compared to a 0.31% fall in the benchmark Nifty. The stock has fallen 41.94% in the last 12 months and 33.19% on a year-to-date basis.
Out of the six analysts tracking the company, two have a 'buy' rating on the stock, three gave recommend 'hold' and one gave 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 11.1%.
