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Sula Vineyards share price & results

Sula Vineyards Limited· Fast Moving Consumer Goods

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

India's largest wine producer, running 5 wineries plus luxury vineyard resorts in Nashik and Karnataka.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue99.1 ₹ crore+8.8% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin15.8 %+3.9 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit4.1 ₹ crore—Quarterly, as filedQuarter to Jun 2026Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown.
Return on equity4.42 %−7.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin12.40 %+13.7 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-1.55 %−5.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

5 of 9 judged targets kept · 9 open · verdicts reflect calls analysed to Q1 FY27.

Sula Vineyards Limited management guidance track record on Inve: 18 targets tracked across analysed earnings calls (5 achieved, 4 missed, 9 open).

TargetOriginal wordingSaidLatest callVerdict
Telangana Market Salesstart from December 1 itself. So, we would get a good benefit of that within Q3 itself
Call transcript, Q2 FY26 · 11 Nov 2025		Q2 FY26Q1 FY27:Promise achieved in Q3 FY26. Management confirmed Telangana delivered strong double-digit growth in Q1 FY27, continuing the positive trend.
Call transcript, Q1 FY27 · 7 Aug 2026		Achieved
Operating Marginsimprovement of a couple of hundred basis points in operating margins in second half of this financial year
Call transcript, Q1 FY26 · 8 Aug 2025		Q1 FY26Q1 FY27:Promise was definitively missed in FY26. New guidance for FY27 is to recover to FY26 levels before year-end.
Call transcript, Q1 FY27 · 7 Aug 2026		Missed
Room Capacity (Keys)crossing significantly more than 200 keys with our next project, which we should hope to deliver within the next 1.5 years if all goes well
Call transcript, Q4 FY26 · 13 May 2026		Q4 FY26Q1 FY27:The acquisition of the former Chandon estate (Domain RASA) is a significant step towards expanding the wine tourism footprint, though the key count remains at 154 for now.
Call transcript, Q1 FY27 · 7 Aug 2026		On Track

Source: Inve Guidance Tracker for Sula Vineyards Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Sula Vineyards Limited's 18 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 15 more targets are in the full ledger.

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Price

₹127.76 +1.18% · +₹1.49

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −49.7% 1Y

₹150₹200₹250Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 9 Feb 2026Q4 FY26 — 13 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹254.05 on 24 Oct 2025 → ₹127.76. High ₹255.2 (3 Nov 2025), low ₹126.27 (26 Oct 2026).

Previous close
₹126.27
Market cap
₹1.1k Cr
52-week range
₹126.27 – ₹255.2
One year
−49.05%
Price to earnings (TTM to Jun 2026)
41.13×
Return on equity (TTM to Jun 2026)
4.42%

Overview

Symbol
NSE:SULA
Exchange
NSE
Currency
INR

What Sula Vineyards Limited does

Based on the company's own presentations, annual report and earnings calls.

Sula Vineyards is India's largest wine producer, making and marketing wine under its own brands (including Sula, The Source, RASA and Dia) sold through distributors, retail points of sale and defence canteens across India, with exports to overseas markets. Grapes are sourced mainly from long-term contracted vineyard farmers in Nashik (Maharashtra) and Karnataka rather than company-owned vineyards, and the wine is produced and bottled at company-operated wineries. Alongside the wine business, Sula runs a wine-tourism operation — vineyard resorts, tasting rooms and gourmet restaurants at its Nashik and Karnataka properties — that has scaled into a distinct, fast-growing revenue stream.

Segments

  • Own Brands
  • Wine Tourism
  • Others (incl. BIO)
Installed winery capacity
18.2 million litres per annum, among the top 5 winery capacities in Asia
Wineries
5 owned wineries with in-house bottling (4 in Maharashtra, 1 in Karnataka)
Wine brand portfolio
69 labels across 14 brands spanning Elite, Premium, Economy, Popular and Imported tiers
Contracted vineyard acreage
2,800+ acres under long-term contract via 500+ contract farmers — the largest contracted vineyard base among Indian wine producers
Distribution footprint
~25,000 points of sale across 23 states and 7 union territories; exports to 29 countries
Distribution network
51 distributors, 12 corporations, 14 licensed resellers, 6 company depots and 3 defence units
Company website

How the price took the results

close before → close after

Q1 FY27
−5.4%
7 Aug
Q4 FY26
−0.5%
13 May
Q3 FY26
+2.4%
9 Feb
Q2 FY26
−1.0%
11 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.

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