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Sula Vineyards stock price gains on highest ever Q1 revenue of Rs 130 crore

The uptick in the stock price came after the company said it has recorded its highest ever Q1 net revenue and own brands revenue

Sula Vineyards

Sula Vineyards

SI Reporter New Delhi

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Sula Vineyards rises: Winemaker Sula Vineyards gained as much as 1.86 per cent to hit an intraday high of Rs 510.85 per share on Thursday.

However, the stock was off high and was trading marginally lower at Rs 501.40 per share, at 9:48 AM. In comparison, BSE Sensex was trading flat at 79,928.47. 

The uptick in the stock price came after the company said it has recorded its highest ever Q1 net revenue and own brands revenue.

In the first quarter of financial year 2025 (Q1FY25), revenue from own brands rose 2.7 per cent on a year-on-year (Y-o-Y) basis to Rs 104.4 crore, as opposed to Rs 101.6 crore in the same quarter a year ago.

Meanwhile, revenue from wine tourism slipped 2.5 per cent on a Y-o-Y basis to Rs 11.3 crore in the June quarter of financial year 2025 (Q1FY25), from Rs 11.2 crore in the June quarter of financial year 2024 (Q1FY24). 

Overall, the revenue rose 9.7 per cent to 129.6 crore in Q1FY25, as opposed to Rs 118.2 crore in Q1FY24

“We are pleased to announce our highest ever Q1 Net Revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions,” said Rajeev Samant, CEO, SUla Vineyards. 

Additionally, the company has roped in Omprakash Singh as head of marketing. On his appointment, Samant said, “I am also pleased to announce the appointment of Omprakash Singh as Head of Marketing. With a wealth of experience in various FMCG, e-commerce, and media companies like L&K Saatchi & Saatchi and Shemaroo, we're confident Omprakash is the right person to lead Sula’s expanded marketing initiatives moving forward.” 

In a separate development, the company said that it will begin bottling at one more unit in Maharashtra, which is the newly acquired N D Wines facility, this month. 

“Given Sula's portfolio exceeding 50 labels across more than 10 brands, the company has decided, after thorough analysis, to transition the Economy and Popular brands to a third-party sales force model in Maharashtra, starting with Mumbai and Pune. This strategy, which has previously yielded strong results in Karnataka and Telangana, will allow Sula’s sales force to focus exclusively on the priority Elite and Premium brands,” Sula Vineyards said in a statement.

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First Published: Jul 11 2024 | 10:03 AM IST

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