Sula Vineyards Limited — PPTs, 06-02-2026: Investor Presentation

Sula Vineyards' Q3 FY26 results saw revenue dip 9.7% YoY to Rs 195.7 Cr, primarily due to a one-off tactical destocking in Karnataka that impacted Own Brands. Excluding this, Own Brand revenue was flat YoY. Wine Tourism was a standout, soaring 33.7% to Rs 22 Cr and hitting another record quarter. Operating EBITDA fell 39.8% to Rs 32 Cr, and PAT dropped 67.6% to Rs 9.1 Cr, mainly due to the revenue decline and market mix.

The company's strategy involves expanding cellar capacity to 19.2 Mn Liters and launching new products like The Source Chardonnay Reserve. Recent developments include a successful SulaFest 2026 and the expansion of "The Haven by Sula" resort, adding 50 keys and boosting total capacity to 154. Management is optimistic for a healthy recovery, noting improved demand (except Bengaluru) and anticipating a strong rebound in Own Brands, alongside continued robust Wine Tourism growth.