 "Sula Vineyards, Sula wine")
Sula Vineyards shares slipped 4.8 per cent on Thursday, logging an intraday low at Rs 348 per share on BSE. The downward movement in the stock came after the company reported a 35 per cent fall in third-quarter profit.
Around 12:18 PM, Sula Vineyards share price was down 4.23 per cent at Rs 350.1 per share on BSE. In comparison, the BSE Sensex was down 0.30 per cent at 78,038.54. The market capitalisation of the company stood at Rs 2,954.76 crore. The 52-week high of the stock was at Rs 654.8 per share and the 52-week low was at Rs 338.1 per share.
India's biggest winemaker Sula Vineyards reported a 35 per cent fall in third-quarter profit to Rs 28.06 crore in the quarter ending December 31, 2024, from Rs 42.98 crore a year ago.
Total revenue also fell 0.4 per cent to Rs 216.64 crore as against Rs 217.54 crore a year ago, while total expenses rose about 11.4 per cent to 180.33 crore as compared to Rs 161.8 crore from a year earlier.
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Its Elite and Premium continued momentum with 5.6 per cent growth year-on-year (Y-o-Y) led by healthy double-digit growth in Iconic brands – The Source and RASA, as per the filing.
Q3 revenue growth was subdued due to broad-based consumption slowdown in urban India, and election-related disruptions in Maharashtra which is among Sula's key markets, during the quarter, including dry days and restrictions. Sula gets about 90 per cent of its revenue from urban markets.
Sula Vineyards is one of India’s leading and most well-known wine producers, founded in 1997 by Rajeev Samant. Located in the Nashik Valley, Maharashtra, which is often referred to as the "Napa Valley of India," Sula Vineyards has played a significant role in shaping India's wine industry. The vineyard is recognized for its wide range of wines, including red, white, sparkling, and dessert wines, made from both international grape varieties and indigenous ones. Some of their popular wines include Sula Rasa, Sula Dindori, and Sula Brut, among others.
In the past one year, Sula Vineyards shares have gained 4.3 per cent against Sensex's rise of 8.4 per cent.
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