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Indian Wine
The wine industry expects a normalised domestic macro environment to come as a boost in the current fiscal after suffering setbacks in 2024-25, which saw urban consumption slowdown and growth taking a "temporary pause", according to the annual report of Sula Vineyards Ltd. The impact of urban consumption slowdown was more 'stark' on the wine segment versus other AlcoBev categories, as it is a predominantly urban drink, according to the report. The wine demand was also impacted by multiple temporary regulatory and other market disruptions, including general elections and state elections in key markets such as Maharashtra, Sula Vineyards Founder and CEO Rajeev Samant said in the report. "After 3 years of strong growth, FY25 was more a year of demand reset for the Indian wine industry," he said, adding, "But the good news is that these setbacks are now behind us as we look forward to a more normalised domestic macro environment going into FY26." However, despite challenging market ..
Prices of art declined maximum by 18.3 per cent annually during the last year among top 10 popular investments of passion while rates of wine and rare whisky fell by 9 per cent each, according to Knight Frank. On Wednesday, global property consultant Knight Frank released its 'The Wealth Report 2025'. In a statement, the consultant said that Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, revealed that only five out of the ten collectibles managed growth in 2024. Handbags were the best performing luxury asset class with prices rising 2.8 per cent in 2024, followed by jewellery 2.3 per cent, coins 2.1 per cent, watches 1.7 per cent and classic cars 1.2 per cent. "The weakest sectors were fine art, wine and whisky. Art was down 18.3 per cent, with the market seeing a total reversal from the double-digit growth of 2023 and a worse performance than during the COVID-19 crisis when values fell 17 per cent," Knight Frank ...
Premium spirits and wine importers' body ISWAI has urged state governments to implement an inflation-based pricing model, highlighting that industry margins have shrunk due to a rise in raw material costs. As the cost of raw materials used to produce alcohol has gone up substantially and theP of liquor has not been revised in recent years, very little is left for the trade and manufacturers while state governments are taking away as high as 60-80 per cent of the share, according to International Spirits & Wines Association of India (ISWAI) CEO Nita Kapoor. ISWAI is also pressing for rationalisation of excise duty imposed by some state governments, as they try to maximise the revenue collections, and said it will not help in growing volumes. "The industry and manufacturers are now facing a lot of pressure. It's like their back against the wall because if in theP, states share is roughly about 60 to 80 per cent, then what is being left on the trail and the sub-manufacturer is to ...
Investment firm Verlinvest Asia Pte and Mousserena LP divested a total of 11.8 per cent stake in leading wine producer Sula Vineyards for Rs 573 crore through open market transactions. Verlinvest Asia Pte offloaded 70,42,275 shares representing 8.34 per cent equity stake of Sula Vineyards and Mousserena LP disposed of 29,00,000 shares representing 3.44 pc stake of the Nashik-based wine producer, as per bulk deal data with the NSE. The shares were sold in a price range of Rs 575.47-576.78 apiece, taking the combined transaction value to Rs 573.07 crore. After the latest transaction, Verlinvest Asia Pte has exited the firm by selling its entire stake, while Mousserena LP's shareholding has declined to 0.22 per cent from 3.66 per cent stake in the firm. Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 8.65 lakh shares, representing a 1.03 per cent stake in Sula Vineyards for Rs 50 crore. The shares were bought at an average price of Rs 575 per piece, taking the deal va
Homegrown wine producer Sula Vineyards Ltd on Wednesday said the recent unseasonal rains in Nasik will have zero impact on its business although there was some damage to vineyards. The net impact of these rains has actually been positive in many ways as some rain-deficient districts such as Dindori and Sinnar have received a much-needed water top-up due to the rains, Sula Vineyards CEO Rajeev Samant said in a regulatory filing. "Though there was some damage to vineyards, especially where there were hailstorms, the overall impact on our wine grape procurement and upcoming harvest will be negligible, meaning zero impact on the overall business," he added. With over 25 years of experience, the company has developed a robust grape procurement model where it anticipates a few unseasonal rain events to occur every year. "We therefore always target a slightly higher grape tonnage than we need to fulfil our sales projections. The result is that if and when such unseasonal rains occur, Sula
The Mizoram government will soon notify rules for processing locally grown grapes to make wine in the state, a minister said. The state council of ministers had recently approved the draft rules. Replying to a question from VL Zaithanzama of Zoram People's Movement (ZPM), Excise Minister K Beichhua told the assembly on Tuesday that the draft rules have been sent to the law department for vetting and would be notified soon. Excise duty will be charged on the locally processed grape wine, he said. Manufacture and sale of wine from grapes grown outside the state would not be allowed under the rules, the minister said. The state cabinet had allowed manufacture and sale of wine from fresh grapes harvested locally by farmers under a liquor prohibition law. The decision was taken months after grape growers' society in east Mizoram's Champhai district protested against the seizure of locally brewed grape wine. The farmers' body demanded legislation for the manufacture of grape wine. An