Sula Vineyards Limited — Updates, 12-11-2024: Press Release

Sula Vineyards Limited continues to demonstrate resilience, achieving its 10th consecutive quarter of growth in its Own Brands segment. For H1 FY25, net revenue reached ₹271.7 Cr, reflecting a 3.7% year-on-year increase, with the Elite & Premium range contributing significantly to this growth, up 7% in Q2. Notably, revenue outside Maharashtra and Karnataka grew by 6%, driven by strong demand in Telangana and Madhya Pradesh. The share of Elite & Premium products rose to an all-time high of 78.5%.

Despite facing challenges due to reduced consumer discretionary spending and disruptions in key markets, Sula's portfolio remained robust, led by growth in iconic brands such as The Source and RASA. Looking ahead, the company remains optimistic for the festive season, supported by strategic initiatives like the reopening of Andhra Pradesh and the return of SulaFest, indicating a long-term growth trajectory for the Indian wine market. Investors should note the mixed performance but also the potential upcoming catalysts that could enhance market positioning.