Sula Vineyards Ltd — earnings calls

Sula Vineyards reported 3% year-on-year revenue growth in Q1 FY27 to Rs 121 crores, driven by a recovery in the Elite & Premium portfolio and continued double-digit growth in Wine Tourism, while the Economy & Popular segment remained under pressure from competitor discounting. Gross profit declined 5% due to a shift in grape procurement mix toward wine grapes and an adverse geographic sales mix, though management said operating cost reductions partly offset the impact on EBITDA. The company completed the acquisition of the former Chandon estate, renamed Domaine RASA, and outlined plans for CSD brand listing expansion and continued Wine Tourism capacity growth.

Sula Vineyards reported Q4 FY26 revenue growth of 7% year-on-year to Rs 142 crore, driven by a recovery in Own Brands and continued strength in Wine Tourism, which crossed Rs 100 crore in annual revenue for the first time. Full year FY26 revenue declined 2% year-on-year excluding a one-time gain in the prior year, with Own Brands contracting 5% due to disruptions in Karnataka and Telangana during the first nine months. Management said EBITDA in Q4 was slightly lower year-on-year due to higher blended grape costs and a prior-year one-off gain, while cost reduction measures helped keep absolute EBITDA largely intact.