Sula Vineyards' own brand sales volumes cross 1 mn cases mark in FY23

Leading wine producer Sula Vineyards Ltd on Tuesday said sales volume from its own brands crossed 1 million cases in FY23.

Besides, sales volumes in elite & premium wines went past the 5 lakh cases mark for the first time, it said in a sales update for Q4 & FY23 submitted to the bourses.

"The company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business," the company said.

On a provisional basis, Sula Vineyards said its net revenue for the March quarter was at Rs 104.3 crore from its own brands and Rs 12.4 crore from wine tourism, which represents room revenue, sale of food & beverages, merchandise, and all other ancillary services.

For the financial year 2022-23, net revenue from own brands was at Rs 482.5 crore and Rs 45 crore from wine tourism.

"FY23 has been one of the most momentous and successful years in Sula's 23-year journey. Our focus on premiumisation is reaping rich dividends - more than 52 per cent of 1 million cases are our elite & premium wines, including our Sula Vineyards, RASA & The Source brands. That share was just 46 per cent in pre-pandemic FY19," the company's CEO Rajeev Samant said.

About wine tourism, he said this business continues to soar and expect it to be a Rs 100 crore business in the coming year.

Sula has pioneered wine tourism in India and more than 3 lakh people visit Sula's Nasik estate annually.