541741
FratelliVineyard financials
- Market cap
- ₹564 Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 6
FratelliVineyard Q4 FY26
What went well
- Q4 FY26 revenue increased to INR36 crores, representing a growth of approximately 13% year-on-year.
- Achieved breakeven at the operating profit level, reporting a positive EBITDA of INR1.06 crores in Q4 FY26.
- Gross profit for Q4 FY26 stood at INR29 crores, with gross margins improving to 79% versus 73% in Q4 FY25.
What to watch
- Full year FY26 revenue remained largely flat (1% YoY growth to INR184 crores) due to regulatory disruptions in key markets and excise policy changes in H1 FY26.
- Premium portfolio revenue declined 16% year-on-year in FY26, primarily due to regulatory disruptions in H1.
What FratelliVineyard does
Fratelli Vineyards grows and sources grapes at its own vineyards in Akluj and Jambhali (Maharashtra), supplemented by long-term contract farming, and crushes, ferments and bottles wine at its Akluj winery. It sells across five price-tier ranges — Luxury, Super Premium, Premium, Value and RTD — spanning roughly 34 brands, distributed domestically through retail/HoReCa touchpoints and the Canteen Stores Department (CSD) channel, and exported to international markets.
Segments
- Bottled wine
- Wine-in-a-can (TiLT)
- RTD (Shotgun)
- CSD channel
- Exports
- Winery capacity
- 5.4 million litres (Akluj unit, Maharashtra)
- Vineyard land under control
- 400+ acres directly farmed, plus 1,000+ acres under long-term contract farming
- Brand portfolio
- 34 brands across 13 ranges and 5 segments
- Domestic distribution touchpoints
- ~31,000 (Q4 FY26), up from ~25,000 in FY25
- Domestic market presence
- 28 Indian states
- Export markets
- 15 countries
Guidance record · Q4 FY26
what the last two calls moved 12 tracked 2 delivered 3 missed 7 open- Shotgun State Availability delivered said Q4 FY25 Promised: 10+ states by end of FY26 Q4 FY26: Confirmed presence in 18 states
- FY26 Top Line Growth missed said Q4 FY25 Promised: 20% to 25% growth, ~INR 250 crores Q4 FY26: Achieved 1% YoY growth for FY26
- Sustainable EBITDA Margin diluted said Q3 FY25 Promised: 10%-12% in the near future Q4 FY26: Guided for PAT breakeven in FY27, implying an EBITDA margin likely lower than the previously guided 10-12%
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 22.5%, net profit up 36.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 62 | 58 | 32 | 37 | 46 −26% | 64 +10% | 35 +11% | 45 +22% |
| EBITDA | 1 | -0 | -11 | -3 | 1 +5% | -1 −31% | -5 +54% | 0 +110% |
| Net profit | -3 | -3 | -11 | -6 | -3 −14% | -9 −215% | -7 +36% | -4 +37% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −2.4% 1Y
1Y: ₹133.2 on 10 Sept 2025 → ₹130. High ₹154.1 (15 Sept 2025), low ₹62.77 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −2.6%
- 2 Jun
- Q3 FY26
- +1.1%
- 16 Feb
- Q2 FY26
- −2.1%
- 18 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 7.2% a year over 4 years, FY21 to FY26. Operating margin narrowed to -4.3%.
| Year ending | FY21 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | ₹245 Cr | ₹294 Cr | ₹451 Cr | ₹302 Cr | ₹181 Cr |
| Operating profit | ₹1 Cr | ₹1 Cr | ₹29 Cr | ₹-6 Cr | ₹-8 Cr |
| Operating margin | 0.6% | 0.5% | 6.4% | -2.0% | -4.3% |
| Interest | ₹4 Cr | ₹5 Cr | ₹14 Cr | ₹14 Cr | ₹13 Cr |
| Depreciation | ₹3 Cr | ₹0 Cr | ₹7 Cr | ₹7 Cr | ₹9 Cr |
| Net profit | ₹-1 Cr | ₹-3 Cr | ₹9 Cr | ₹-17 Cr | ₹-25 Cr |
| Net margin | -0.6% | -0.9% | 2.0% | -5.6% | -13.7% |
| Cash from operations | ₹3 Cr | — | ₹7 Cr | ₹-7 Cr | ₹5 Cr |
| Free cash flow | ₹2 Cr | — | ₹-11 Cr | ₹-47 Cr | ₹-7 Cr |
| ROCE | 4.0% | — | — | -3.0% | -5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹43 Cr | ₹43 Cr |
| Reserves | ₹18 Cr | ₹19 Cr | ₹20 Cr | ₹14 Cr | ₹104 Cr | ₹92 Cr |
| Borrowings | ₹26 Cr | ₹33 Cr | ₹28 Cr | ₹138 Cr | ₹142 Cr | ₹138 Cr |
| Other liabilities | ₹16 Cr | ₹28 Cr | ₹18 Cr | ₹187 Cr | ₹62 Cr | ₹73 Cr |
| Total liabilities | ₹68 Cr | ₹89 Cr | ₹75 Cr | ₹348 Cr | ₹351 Cr | ₹347 Cr |
| Fixed assets | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹61 Cr | ₹95 Cr | ₹96 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹8 Cr | ₹7 Cr |
| Investments | ₹4 Cr | ₹13 Cr | ₹11 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹63 Cr | ₹75 Cr | ₹63 Cr | ₹281 Cr | ₹248 Cr | ₹243 Cr |
| Total assets | ₹68 Cr | ₹89 Cr | ₹75 Cr | ₹348 Cr | ₹351 Cr | ₹347 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.29 pp while the public trimmed −0.28 pp. The shareholder count grew 18% to 7,681.
- Promoters
- 57.2%
- FIIs
- 0.5%
- Government
- 0.1%
- Public
- 42.3%
Since Jun 2025
- Promoters +0.29 pp
- Public −0.28 pp
- Government −0.01 pp
How it drifted, 12 quarters
Over this window promoters fell from 73.8% to 57.2% — −16.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.8%, Government 0.3%, Public 25.9%.Dec '23: Promoters 73.8%, Government 0.3%, Public 25.9%.Mar '24: Promoters 73.8%, Government 0.3%, Public 25.9%.Jun '24: Promoters 58.1%, FIIs 0.1%, Government 0.1%, Public 41.7%.Sep '24: Promoters 56.9%, FIIs 0.5%, Government 0.1%, Public 42.5%.Dec '24: Promoters 56.9%, FIIs 0.5%, Government 0.1%, Public 42.6%.Mar '25: Promoters 56.9%, FIIs 0.5%, Government 0.1%, Public 42.5%.Jun '25: Promoters 56.9%, FIIs 0.5%, Government 0.1%, Public 42.5%.Sep '25: Promoters 56.9%, FIIs 0.5%, Government 0.1%, Public 42.5%.Dec '25: Promoters 57.1%, FIIs 0.5%, Government 0.1%, Public 42.3%.Mar '26: Promoters 57.2%, FIIs 0.5%, Government 0.1%, Public 42.3%.Jun '26: Promoters 57.2%, FIIs 0.5%, Government 0.1%, Public 42.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Siddharath Bindra newly disclosed 1.72% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of FratelliVineyard above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bgk Infratech Private Limited | 13.45% | unchanged |
| Aarti Sekhri | 9.88% | unchanged |
| Mayank Singhal | 9.48% | unchanged |
| Puja Sekhri | 7.70% | unchanged |
| Shobha Sekhri | 7.41% | unchanged |
| Chin Min Developers Private Limited | 6.73% | unchanged |
| Alessio Secci | 4.22% | unchanged |
| B S Farms And Properties Private Limited | 3.64% | unchanged |
| Ranjitsinh Vijaysinh Mohitepatil | 3.53% | unchanged |
| Gaurav Sekhri | 2.73% | unchanged |
| Arjunsinh Madansinh Mohitepatil | 1.90% | −0.23 pp |
| Shivratna Multilayer S Private Limited | 1.89% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q4 FY26 call →Learn to analyse FratelliVineyard
Guides on how to read this kind of business and the numbers that matter.