India's second-largest wine company — a 'grape-to-bottle' vineyard, winery and bottling operation in Maharashtra producing still wines (J'NOON, Sette), wine-in-a-can (TiLT) and RTD (Shotgun).
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 44.7 | +22.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 0.7 | +8.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -3.7 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -15.64 | −0.6 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -4.74 | +12.4 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 0.57 | −10.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
2 of 5 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Shotgun State Availability | 10+ states by end of FY26 | Q4 FY25 | Confirmed presence in 18 states | Achieved |
| FY26 Top Line Growth | 20% to 25% growth, ~INR 250 crores | Q4 FY25 | Achieved 1% YoY growth for FY26 | Missed |
| Sustainable EBITDA Margin | 10%-12% in the near future | Q3 FY25 | Guided for PAT breakeven in FY27, implying an EBITDA margin likely lower than the previously guided 10-12% | Diluted |
3 of Fratelli Vineyards Limited's 12 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹129.65 on 24 Oct 2025 → ₹125.5. High ₹142.95 (3 Nov 2025), low ₹62.77 (30 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
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
close before → close after
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.
Guidance
2 of 5 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Shotgun State Availability | 10+ states by end of FY26 | Q4 FY25 | Confirmed presence in 18 states | Achieved |
| FY26 Top Line Growth | 20% to 25% growth, ~INR 250 crores | Q4 FY25 | Achieved 1% YoY growth for FY26 | Missed |
| Sustainable EBITDA Margin | 10%-12% in the near future | Q3 FY25 | Guided for PAT breakeven in FY27, implying an EBITDA margin likely lower than the previously guided 10-12% | Diluted |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.
Call summaries
FratelliVineyard Q4 FY26
Fratelli Vineyards Limited reported a strong Q4 FY26 with 13% revenue growth and operating profit breakeven, driven by cost discipline and market normalization. However, full-year FY26 revenue was largely flat due to H1 regulatory disruptions. The company's premiumization strategy and new RTD business showed robust growth, and management is targeting 30% revenue growth and PAT breakeven for FY27.
Read the full callFratelliVineyard Q3 FY26
Fratelli Vineyards Limited reported a strong Q3 FY26, driven by healthy revenue growth, significant margin expansion, and robust performance in its luxury segment. Despite regulatory challenges impacting the first half, the company saw normalization and recovery in Q3. Strategic initiatives like new product launches and expansion of the RTD portfolio are contributing to growth, while the company navigates the evolving market dynamics, including the India-EU Free Trade Agreement.
Read the full callFratelliVineyard Q2 FY26
Fratelli Vineyards Limited reported stable revenue and positive EBITDA in Q2 FY26, driven by premium product mix and efficiency initiatives. The company's new RTD product, Shotgun, showed strong early traction, capturing 6% market share. Strategic investments in a hospitality project and continued market expansion, including exports and new states, are key focus areas, despite near-term industry headwinds and regulatory discussions.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2019 to Mar 2026).
Financials
Net profit, year on year: +37% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 62 | 58 | 32 | 37 | 46 | 64 | 35 | 45 |
| Expenses | 61 | 58 | 43 | 39 | 45 | 64 | 40 | 44 |
| Operating profit | 1 | -0 | -11 | -3 | 1 | -1 | -5 | 0 |
| Operating margin | 1.2% | −0.8% | −34.2% | −8.1% | 1.7% | −0.9% | −14.2% | 0.7% |
| Other income | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 4 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -4 | -4 | -15 | -8 | -4 | -5 | -9 | -5 |
| Tax rate | −27.1% | −24.9% | −24.8% | −25.3% | −25.3% | 76.0% | −25.6% | −26.0% |
| Net profit | -3 | -3 | -11 | -6 | -3 | -9 | -7 | -4 |
| EPS (₹ per share) | -0.67 | -0.64 | -2.53 | -1.34 | -0.76 | -2.01 | -1.62 | -0.84 |
| Line item | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 245 | 294 | 451 | 302 | 181 |
| Expenses | 244 | 293 | 422 | 308 | 189 |
| Operating profit | 1 | 1 | 29 | -6 | -8 |
| Other income | 4 | 1 | 4 | 4 | 3 |
| Interest | 4 | 5 | 14 | 14 | 13 |
| Depreciation | 3 | 0 | 7 | 7 | 9 |
| Profit before tax | -2 | -3 | 12 | -23 | -27 |
| Net profit | -1 | -3 | 9 | -17 | -25 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 9 | 9 | 9 | 43 | 43 | 43 |
| Reserves | 19 | 20 | 14 | 113 | 104 | 92 |
| Borrowings | 33 | 28 | 138 | 121 | 142 | 138 |
| Other liabilities | 28 | 18 | 187 | 56 | 62 | 73 |
| Total liabilities | 89 | 75 | 348 | 334 | 351 | 347 |
| Fixed assets | 1 | 0 | 61 | 90 | 95 | 96 |
| Capital work in progress | 0 | 0 | 5 | 8 | 8 | 7 |
| Investments | 13 | 11 | 1 | 0 | 0 | 0 |
| Other assets | 75 | 63 | 281 | 235 | 248 | 243 |
| Total assets | 89 | 75 | 348 | 334 | 351 | 347 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 51 | -13 | 3 | 7 | -7 | 5 |
| Cash from investing | 6 | 2 | -1 | -21 | -34 | -12 |
| Cash from financing | -54 | 8 | -4 | 25 | 25 | 6 |
| Net cash flow | 3 | -3 | -2 | 11 | -16 | 0 |
| Free cash flow | 51 | -14 | 2 | -11 | -47 | -7 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 14 | 21 | 14 | 117 | 145 | 251 |
| Inventory days | 7 | 29 | 54 | 137 | 220 | 2048 |
| Days payable | 9 | 7 | 20 | 82 | 60 | 583 |
| Cash conversion cycle | 12 | 43 | 48 | 172 | 306 | 1716 |
| Working capital days | 4 | 11 | 28 | 45 | 113 | 136 |
| Return on capital employed | 10.0% | 1.0% | 4.0% | — | −4.0% | −5.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 57.19% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 5 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Fratelli Vineyards Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 21.32% | +20.79 pp | |
| 13.45% | unchanged | |
| 9.48% | unchanged | |
| 6.73% | unchanged | |
| 3.93% | −3.77 pp | |
| 3.64% | unchanged | |
| 3.53% | unchanged | |
| 3.34% | −0.88 pp | |
| 1.90% | unchanged | |
| 1.89% | unchanged | |
| 1.72% | unchanged | |
| 1.12% | 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.
Your own record
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