SULA
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Sula Vineyards Unit To Purchase Some Assets From Moët Hennessy India For 200 Million Rupees
March 25 (Reuters) - Sula Vineyards Ltd SULA.NS:
UNIT TO PURCHASE SOME ASSETS OF DOMAINE CHANDON INDIA FROM MOËT HENNESSY INDIA FOR 200 MILLION RUPEES
ASSETS INCLUDE LAND, BUILDINGS, PLANT, MACHINERY FORMING THE ESTATE OF DOMAINE CHANDON INDIA
Further company coverage: SULA.NS LVMH.PA
March 25 (Reuters) - Sula Vineyards Ltd SULA.NS:
UNIT TO PURCHASE SOME ASSETS OF DOMAINE CHANDON INDIA FROM MOËT HENNESSY INDIA FOR 200 MILLION RUPEES
ASSETS INCLUDE LAND, BUILDINGS, PLANT, MACHINERY FORMING THE ESTATE OF DOMAINE CHANDON INDIA
Further company coverage: SULA.NS LVMH.PA
Sula Vineyards Ltd Re-Appoints Rajeev Samant As Managing Director And CEO For Three Years From April 2026
March 20 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LTD - RE-APPOINTS RAJEEV SAMANT AS MANAGING DIRECTOR AND CEO FOR THREE YEARS FROM APRIL 2026
Source text: ID:nBSE6PWTtv
Further company coverage: SULA.NS
March 20 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LTD - RE-APPOINTS RAJEEV SAMANT AS MANAGING DIRECTOR AND CEO FOR THREE YEARS FROM APRIL 2026
Source text: ID:nBSE6PWTtv
Further company coverage: SULA.NS
India's Sula Vineyards drops as quarterly profit slumps
** Shares of India's Sula Vineyards SULA.NS fall 2.6% to 183.30 rupees
** Sula, India's largest winemaker by market share, posts a 68% y/y fall in third-quarter profit to 91 million rupees ($1.01 million) on subdued demand in a key market and higher expenses
** Trading vols at 15,329 shares vs 30-day-avg of 338,050 shares
** SULA dropped 48% in 2025
** Stock down 13.3% so far in 2026
($1 = 90.5150 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of India's Sula Vineyards SULA.NS fall 2.6% to 183.30 rupees
** Sula, India's largest winemaker by market share, posts a 68% y/y fall in third-quarter profit to 91 million rupees ($1.01 million) on subdued demand in a key market and higher expenses
** Trading vols at 15,329 shares vs 30-day-avg of 338,050 shares
** SULA dropped 48% in 2025
** Stock down 13.3% so far in 2026
($1 = 90.5150 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
India’s Sula Vineyards posts profit drop on weak demand, higher costs
Feb 6 (Reuters) - Sula Vineyards SULA.NS, India's largest winemaker by market share, reported a 68% fall in quarterly profit on Friday, as subdued demand in a key market and higher expenses weighed on its bottom line.
The company reported a consolidated net profit of 91 million rupees ($1 million) for the quarter ended December 31, compared with 280.6 million rupees a year earlier, according to a filing to exchanges.
Revenue fell about 10% to 1.96 billion rupees, hurt by subdued demand in the southern Indian state of Karnataka, its second-largest market, the company said.
Younger consumers globally are increasingly shunning alcoholic and sugary drinks in favour of healthier juices, prompting many liquor makers to launch zero-alcohol beer variants.
Higher costs during the quarter, including a one-time charge of 17 million rupees linked to the implementation of India's new labour codes, weighed on margins for Sula.
The country's new labour codes, the biggest overhaul of worker laws in decades, were implemented last November and have dented Indian corporate earnings across sectors.
Sula's wine tourism revenue rose 34% year-on-year, partly offsetting weakness in its core own-brands business, which accounts for about 90% of total sales.
While demand for premium wines held up in some urban markets, it was not enough to offset cost pressures and regional weakness during the quarter, the company said.
($1 = 90.6430 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai and Surbhi Misra in Bengaluru; Editing by Ronojoy Mazumdar)
((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))
Feb 6 (Reuters) - Sula Vineyards SULA.NS, India's largest winemaker by market share, reported a 68% fall in quarterly profit on Friday, as subdued demand in a key market and higher expenses weighed on its bottom line.
The company reported a consolidated net profit of 91 million rupees ($1 million) for the quarter ended December 31, compared with 280.6 million rupees a year earlier, according to a filing to exchanges.
Revenue fell about 10% to 1.96 billion rupees, hurt by subdued demand in the southern Indian state of Karnataka, its second-largest market, the company said.
Younger consumers globally are increasingly shunning alcoholic and sugary drinks in favour of healthier juices, prompting many liquor makers to launch zero-alcohol beer variants.
Higher costs during the quarter, including a one-time charge of 17 million rupees linked to the implementation of India's new labour codes, weighed on margins for Sula.
The country's new labour codes, the biggest overhaul of worker laws in decades, were implemented last November and have dented Indian corporate earnings across sectors.
Sula's wine tourism revenue rose 34% year-on-year, partly offsetting weakness in its core own-brands business, which accounts for about 90% of total sales.
While demand for premium wines held up in some urban markets, it was not enough to offset cost pressures and regional weakness during the quarter, the company said.
($1 = 90.6430 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai and Surbhi Misra in Bengaluru; Editing by Ronojoy Mazumdar)
((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))
India's Sula Vineyards jumps 4% on premium spirits entry report
** Shares of Sula Vineyards SULA.NS jump 4% to 260.95 rupees, its biggest intraday pct gain since mid-June
** Winemaker looking to enter premium spirits market, acquire smaller brands, CNBC-TV18 reports
** Sula did not immediately reply to a Reuters' request for comment
** More than 2.9 mln shares traded so far, 14x of 30-day avg
** Co posted a nearly 87% drop in profit for June-qtr
** YTD, SULA down ~35%
(Reporting by Komal Salecha)
** Shares of Sula Vineyards SULA.NS jump 4% to 260.95 rupees, its biggest intraday pct gain since mid-June
** Winemaker looking to enter premium spirits market, acquire smaller brands, CNBC-TV18 reports
** Sula did not immediately reply to a Reuters' request for comment
** More than 2.9 mln shares traded so far, 14x of 30-day avg
** Co posted a nearly 87% drop in profit for June-qtr
** YTD, SULA down ~35%
(Reporting by Komal Salecha)
India's Sula Vineyards falls as quarterly profit tumbles
** Shares of Sula Vineyards SULA.NS fall 4.2% to 267 rupees, on track for their steepest intraday fall since March, if trend holds
** Winemaker posts ~87% drop in profit for June-qtr, total revenue down 8%
** SULA set for seventh straight day of losses
** "Own brands growth was muted due to continued urban demand softness," CEO Rajeev Samant said in a statement
** Stock down 36% YTD
(Reporting by Urvi Dugar)
** Shares of Sula Vineyards SULA.NS fall 4.2% to 267 rupees, on track for their steepest intraday fall since March, if trend holds
** Winemaker posts ~87% drop in profit for June-qtr, total revenue down 8%
** SULA set for seventh straight day of losses
** "Own brands growth was muted due to continued urban demand softness," CEO Rajeev Samant said in a statement
** Stock down 36% YTD
(Reporting by Urvi Dugar)
Sula Vineyards Q1 Revenue From Operations Down 7.9% Y/Y
July 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q1 REVENUE FROM OPERATIONS DOWN 7.9% Y/Y
OWN BRANDS REVENUE REMAINED SUBDUED DUE TO CONTINUED SLOWDOWN IN URBAN CONSUMPTION
Source text: [ID:]
Further company coverage: SULA.NS
July 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q1 REVENUE FROM OPERATIONS DOWN 7.9% Y/Y
OWN BRANDS REVENUE REMAINED SUBDUED DUE TO CONTINUED SLOWDOWN IN URBAN CONSUMPTION
Source text: [ID:]
Further company coverage: SULA.NS
India's Sula Vineyards' quarterly profit drops on weak urban consumption
May 8 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS reported a nearly 4% fall in fourth-quarter profit on Thursday, hurt by a prolonged slowdown in urban consumption.
Demand for discretionary goods remains weak in Indian cities and towns due to high living costs and sluggish wage growth, despite easing inflation.
Sula gets about 90% of its revenue from urban markets.
The company's consolidated net profit fell to 130.03 million rupees ($1.5 million) in the quarter ending March 31, from 135.5 million rupees a year ago.
The continued slowdown in urban consumption and short-term destocking in a few states were among reasons for subdued sales in the quarter, Chief Executive Officer Rajeev Samant said.
The winemaker's own brands segment, which contributed to 82% of the total revenue, saw a 2.9% decline in revenue during the quarter.
Its smaller wine tourism segment saw a 24.6% increase in revenue, mainly driven by sales from its "Sulafest" in February.
Total revenue rose marginally to 1.33 billion rupees from 1.32 billion rupees a year ago, while total expenses rose about 3% to 1.21 billion rupees.
Sula's core profit margin contracted to 21.4% from 22.4% a year ago.
($1 = 85.3990 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Krishna Chandra Eluri)
May 8 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS reported a nearly 4% fall in fourth-quarter profit on Thursday, hurt by a prolonged slowdown in urban consumption.
Demand for discretionary goods remains weak in Indian cities and towns due to high living costs and sluggish wage growth, despite easing inflation.
Sula gets about 90% of its revenue from urban markets.
The company's consolidated net profit fell to 130.03 million rupees ($1.5 million) in the quarter ending March 31, from 135.5 million rupees a year ago.
The continued slowdown in urban consumption and short-term destocking in a few states were among reasons for subdued sales in the quarter, Chief Executive Officer Rajeev Samant said.
The winemaker's own brands segment, which contributed to 82% of the total revenue, saw a 2.9% decline in revenue during the quarter.
Its smaller wine tourism segment saw a 24.6% increase in revenue, mainly driven by sales from its "Sulafest" in February.
Total revenue rose marginally to 1.33 billion rupees from 1.32 billion rupees a year ago, while total expenses rose about 3% to 1.21 billion rupees.
Sula's core profit margin contracted to 21.4% from 22.4% a year ago.
($1 = 85.3990 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Krishna Chandra Eluri)
Sula Vineyards Says Revenue From Operations For Q4 FY25 At 1.33 Bln Rupees, Up 0.7% YoY
April 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
REVENUE FROM OPERATIONS FOR Q4 FY25 AT 1.33 BILLION RUPEES, UP 0.7% YOY
RECORDS MODEST REVENUE GROWTH IN Q4 FY25
Source text: ID:nBSE8H0qWx
Further company coverage: SULA.NS
April 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
REVENUE FROM OPERATIONS FOR Q4 FY25 AT 1.33 BILLION RUPEES, UP 0.7% YOY
RECORDS MODEST REVENUE GROWTH IN Q4 FY25
Source text: ID:nBSE8H0qWx
Further company coverage: SULA.NS
India's Sula Vineyards falls on lower Q3 profit
** Shares of Indian winemaker Sula Vineyards SULA.NS down ~4% at 350.3 rupees
** Co reports a 35% fall in Q3 profit on lower demand amid a slowdown in urban consumption and election-related disruptions in Maharashtra state, a key market for co
** Total revenue down 0.4% in Q3, while total expenses up 11.4%
** Sula gets about 90% of its revenue from urban markets
** Sula's profit margin contracts to 24.8% from 33.5% last year
** Including session's decline, shares have fallen 45.5% y/y
(Reporting by Ananta Agarwal in Bengaluru)
** Shares of Indian winemaker Sula Vineyards SULA.NS down ~4% at 350.3 rupees
** Co reports a 35% fall in Q3 profit on lower demand amid a slowdown in urban consumption and election-related disruptions in Maharashtra state, a key market for co
** Total revenue down 0.4% in Q3, while total expenses up 11.4%
** Sula gets about 90% of its revenue from urban markets
** Sula's profit margin contracts to 24.8% from 33.5% last year
** Including session's decline, shares have fallen 45.5% y/y
(Reporting by Ananta Agarwal in Bengaluru)
India's Sula Vineyards posts lower Q3 profit on weak urban demand
Feb 5 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS reported a 35% fall in third-quarter profit on Wednesday, as demand took a hit from a slowdown in urban consumption.
Sula's consolidated net profit fell to 280.6 million rupees ($3.2 million) in the quarter ending Dec. 31, from 429.8 million rupees a year ago.
Urban consumption fell to a two-year low in November, as persistently high food inflation, subdued wage growth and erratic weather patterns led consumers to pull back discretionary spending. Sula gets about 90% of its revenue from urban markets.
Sales were also impacted due to elections in the western state of Maharashtra, which is among Sula's key markets, during the quarter, the company said.
The winemaker's own brands segment, which contributes about 90% of the total revenue, saw a marginal 1% rise in revenue during the quarter.
Its smaller wine tourism segment saw a 12% increase in revenue.
Total revenue fell 0.4%, while total expenses rose about 11.4% from a year earlier.
Sula's core profit margin contracted to 24.8% from 33.5% a year ago.
($1 = 87.3580 Indian rupees)
(Reporting by Ananta Agarwal and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
Feb 5 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS reported a 35% fall in third-quarter profit on Wednesday, as demand took a hit from a slowdown in urban consumption.
Sula's consolidated net profit fell to 280.6 million rupees ($3.2 million) in the quarter ending Dec. 31, from 429.8 million rupees a year ago.
Urban consumption fell to a two-year low in November, as persistently high food inflation, subdued wage growth and erratic weather patterns led consumers to pull back discretionary spending. Sula gets about 90% of its revenue from urban markets.
Sales were also impacted due to elections in the western state of Maharashtra, which is among Sula's key markets, during the quarter, the company said.
The winemaker's own brands segment, which contributes about 90% of the total revenue, saw a marginal 1% rise in revenue during the quarter.
Its smaller wine tourism segment saw a 12% increase in revenue.
Total revenue fell 0.4%, while total expenses rose about 11.4% from a year earlier.
Sula's core profit margin contracted to 24.8% from 33.5% a year ago.
($1 = 87.3580 Indian rupees)
(Reporting by Ananta Agarwal and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
Sula Vineyards says Assistant Commissioner Of State Tax Initiated Inspection In Co's Registered Office In Mumbai
Dec 12 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX INITIATED INSPECTION IN CO'S MUMBAI OFFICE
SULA VINEYARDS- SEARCH IN CO'S OFFICE CONCLUDED ON DEC 11, NO UNTOWARD INCIDENCE OR BEHAVIORAL ISSUE
SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX'S SEARCH IN CO'S PPOB IN NASIK CONTINUED
Source text: ID:nBSE2kcnF8
Further company coverage: SULA.NS
Dec 12 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX INITIATED INSPECTION IN CO'S MUMBAI OFFICE
SULA VINEYARDS- SEARCH IN CO'S OFFICE CONCLUDED ON DEC 11, NO UNTOWARD INCIDENCE OR BEHAVIORAL ISSUE
SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX'S SEARCH IN CO'S PPOB IN NASIK CONTINUED
Source text: ID:nBSE2kcnF8
Further company coverage: SULA.NS
India's Sula Vineyards at lowest since April 2023 on Q2 profit slip
** Sula Vineyards SULA.NS slips 8% to 382.4 rupees, lowest since April 28, 2023
** Wine maker's Q2 profit falls 37%, as slowdown in discretionary spending, especially in urban areas, dampened demand
** Rev drops 1.1%, while total expenses up ~10%
** SULA trading below key 50-, 100-, 200- day moving avg
** Stock marks busiest day in a week, with over 260,000 shares traded
** SULA loses 21% YTD, vs 29% surge in peer United Spirits UNSP.NS
(Reporting by Aleef Jahan in Bengaluru)
** Sula Vineyards SULA.NS slips 8% to 382.4 rupees, lowest since April 28, 2023
** Wine maker's Q2 profit falls 37%, as slowdown in discretionary spending, especially in urban areas, dampened demand
** Rev drops 1.1%, while total expenses up ~10%
** SULA trading below key 50-, 100-, 200- day moving avg
** Stock marks busiest day in a week, with over 260,000 shares traded
** SULA loses 21% YTD, vs 29% surge in peer United Spirits UNSP.NS
(Reporting by Aleef Jahan in Bengaluru)
India's Sula Vineyards posts lower Q2 profit on tepid urban demand
Nov 12 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS, reported a 37% fall in second-quarter profit on Tuesday, as a slowdown in discretionary spending, especially in urban areas, dampened demand.
Sula's consolidated net profit fell to 144.8 million rupees ($1.72 million) in the quarter ended Sept. 30, from 230.9 million rupees a year ago.
"Q2 was a subdued quarter, due to a slowdown in consumer discretionary demand, particularly in urban areas where 90% of our sales are concentrated," Chief Executive Officer Rajeev Samant said in a statement.
The company also faced technical issues with accessing New Delhi's Excise portal-used to place orders and update liquor stock-towards the end of the quarter, hurting sales, it said.
Sula's own brands segment, which contributes about 90% of the total revenue, saw a marginal 0.3% rise in revenue during the quarter. Its smaller wine tourism segment saw a 0.8% increase in revenue.
Sula's total revenue fell 1.1% during the quarter, while total expenses rose about 10%.
The winemaker's earnings before interest, tax, depreciation, and amortization margin contracted to 24.2% from 31.4% a year ago.
($1 = 84.3560 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Abinaya Vijayaraghavan)
Nov 12 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS, reported a 37% fall in second-quarter profit on Tuesday, as a slowdown in discretionary spending, especially in urban areas, dampened demand.
Sula's consolidated net profit fell to 144.8 million rupees ($1.72 million) in the quarter ended Sept. 30, from 230.9 million rupees a year ago.
"Q2 was a subdued quarter, due to a slowdown in consumer discretionary demand, particularly in urban areas where 90% of our sales are concentrated," Chief Executive Officer Rajeev Samant said in a statement.
The company also faced technical issues with accessing New Delhi's Excise portal-used to place orders and update liquor stock-towards the end of the quarter, hurting sales, it said.
Sula's own brands segment, which contributes about 90% of the total revenue, saw a marginal 0.3% rise in revenue during the quarter. Its smaller wine tourism segment saw a 0.8% increase in revenue.
Sula's total revenue fell 1.1% during the quarter, while total expenses rose about 10%.
The winemaker's earnings before interest, tax, depreciation, and amortization margin contracted to 24.2% from 31.4% a year ago.
($1 = 84.3560 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Abinaya Vijayaraghavan)
Sula Vineyards Says Q2 Net Revenue Down 1.3% Y/Y
Oct 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q2 NET REVENUE DOWN 1.3% Y/Y
Source text for Eikon: ID:nBSE39X5jB
Further company coverage: SULA.NS
Oct 11 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q2 NET REVENUE DOWN 1.3% Y/Y
Source text for Eikon: ID:nBSE39X5jB
Further company coverage: SULA.NS
Sula Vineyards Launches Sula Merlot
Sept 19 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LAUNCHES SULA MERLOT
Source text for Eikon: ID:nNSE6YFSGp
Further company coverage: SULA.NS
Sept 19 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LAUNCHES SULA MERLOT
Source text for Eikon: ID:nNSE6YFSGp
Further company coverage: SULA.NS
Sula Vineyards Q1 Consol Net Profit 146.3 Mln Rupees
Aug 7 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS Q1 CONSOL NET PROFIT 146.3 MILLION RUPEES
SULA VINEYARDS Q1 CONSOL REVENUE FROM OPERATIONS 1.28 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: SULA.NS
Aug 7 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS Q1 CONSOL NET PROFIT 146.3 MILLION RUPEES
SULA VINEYARDS Q1 CONSOL REVENUE FROM OPERATIONS 1.28 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: SULA.NS
Sula Vineyards Says Got Show Cause Cum Demand Notice From Tax Authority
July 25 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS - GOT SHOW CAUSE CUM DEMAND NOTICE FROM TAX AUTHORITY
SULA VINEYARDS LTD - IMPACT ON FINANCIAL ACTIVITIES 40.2 MILLION RUPEES
Further company coverage: SULA.NS
July 25 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS - GOT SHOW CAUSE CUM DEMAND NOTICE FROM TAX AUTHORITY
SULA VINEYARDS LTD - IMPACT ON FINANCIAL ACTIVITIES 40.2 MILLION RUPEES
Further company coverage: SULA.NS
Sula Vineyards Says Q1 Net Revenue Up 9.7% Y/Y
July 10 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q1 NET REVENUE UP 9.7% Y/Y
WILL BEGIN BOTTLING AT UNIT IN MAHARASHTRA
TRANSITION ECONOMY, POPULAR BRANDS TO THIRD-PARTY SALES FORCE MODEL IN MAHARASHTRA
STRATEGY WILL ALLOW CO'S SALES FORCE TO FOCUS ON ELITE AND PREMIUM BRANDS
Source text for Eikon: ID:nBSE4Rj7Qy
Further company coverage: SULA.NS
July 10 (Reuters) - Sula Vineyards Ltd SULA.NS:
Q1 NET REVENUE UP 9.7% Y/Y
WILL BEGIN BOTTLING AT UNIT IN MAHARASHTRA
TRANSITION ECONOMY, POPULAR BRANDS TO THIRD-PARTY SALES FORCE MODEL IN MAHARASHTRA
STRATEGY WILL ALLOW CO'S SALES FORCE TO FOCUS ON ELITE AND PREMIUM BRANDS
Source text for Eikon: ID:nBSE4Rj7Qy
Further company coverage: SULA.NS
Indian whisky maker Allied Blenders's IPO attracts bids worth $3 bln
By Kashish Tandon
BENGALURU, June 27 (Reuters) - Indian whisky maker Allied Blenders and Distillers' ALLE.NS $180-million IPO was oversubscribed on Thursday but fell short of the blowout demand for recent issues amid concerns about its growth prospects in an increasingly competitive liquor market.
The IPO, the first by an alcohol company since Sula Vineyards' SULA.NS in 2022, received bids for 924.9 million shares, worth up to $3.12 billion and about 23 times the 39.4 million shares on offer, exchange data showed.
In contrast, all the four previous IPOs on the main exchange this month, including engineering firm DEE Development Engineers DEEV.NS, were oversubscribed by around hundred times.
Most of the bids came in the final hours of bidding on Thursday, with institutional buyers bidding for 50 times the shares allotted, while retail investors bid for about four times the allotment.
Allied Blenders, which sells 'Officer's Choice' and 'Sterling Reserve' whisky, is going public in a booming Indian IPO market.
A total of 129 companies have raised $4.32 billion in IPOs so far this year, more than double the amount raised by this time last year, per LSEG data, with the domestic equity market at an all-time high on the prospect of healthy economic growth.
Allied Blenders faces stiff competition in India's $33 billion spirits market, including from Radico Khaitan's RADC.NS 'Rampur Whisky' and Diageo-owned United Spirits' UNSP.NS 'Johnnie Walker' and 'Black Dog'.
The company's share of the premium portfolio is relatively lower than its peers, meaning its growth rates may not be that strong, said Karan Taurani, an analyst at Elara Capital.
Taurani does not expect the stock to rise much when it makes its market debut.
Allied Blenders ranked third in terms of whisky sales in India in fiscal 2023, according to its prospectus, trailing United Spirits and 'Chivas Regal'-maker Pernod Ricard PERP.PA.
Its core profit (EBITDA) margin is also less peers', Taurani noted.
Anchor investors, including domestic mutual funds, had already subscribed to shares worth 4.5 billion rupees.
The offer included a fresh issue worth 10 billion rupees, while co-chairperson Bina Chhabria and vice chairperson Resham Chhabria Hemdev were seeking to up to 5 billion rupees in stock.
($1 = 83.5850 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)
((Kashish.Tandon@thomsonreuters.com; 8800437922;))
By Kashish Tandon
BENGALURU, June 27 (Reuters) - Indian whisky maker Allied Blenders and Distillers' ALLE.NS $180-million IPO was oversubscribed on Thursday but fell short of the blowout demand for recent issues amid concerns about its growth prospects in an increasingly competitive liquor market.
The IPO, the first by an alcohol company since Sula Vineyards' SULA.NS in 2022, received bids for 924.9 million shares, worth up to $3.12 billion and about 23 times the 39.4 million shares on offer, exchange data showed.
In contrast, all the four previous IPOs on the main exchange this month, including engineering firm DEE Development Engineers DEEV.NS, were oversubscribed by around hundred times.
Most of the bids came in the final hours of bidding on Thursday, with institutional buyers bidding for 50 times the shares allotted, while retail investors bid for about four times the allotment.
Allied Blenders, which sells 'Officer's Choice' and 'Sterling Reserve' whisky, is going public in a booming Indian IPO market.
A total of 129 companies have raised $4.32 billion in IPOs so far this year, more than double the amount raised by this time last year, per LSEG data, with the domestic equity market at an all-time high on the prospect of healthy economic growth.
Allied Blenders faces stiff competition in India's $33 billion spirits market, including from Radico Khaitan's RADC.NS 'Rampur Whisky' and Diageo-owned United Spirits' UNSP.NS 'Johnnie Walker' and 'Black Dog'.
The company's share of the premium portfolio is relatively lower than its peers, meaning its growth rates may not be that strong, said Karan Taurani, an analyst at Elara Capital.
Taurani does not expect the stock to rise much when it makes its market debut.
Allied Blenders ranked third in terms of whisky sales in India in fiscal 2023, according to its prospectus, trailing United Spirits and 'Chivas Regal'-maker Pernod Ricard PERP.PA.
Its core profit (EBITDA) margin is also less peers', Taurani noted.
Anchor investors, including domestic mutual funds, had already subscribed to shares worth 4.5 billion rupees.
The offer included a fresh issue worth 10 billion rupees, while co-chairperson Bina Chhabria and vice chairperson Resham Chhabria Hemdev were seeking to up to 5 billion rupees in stock.
($1 = 83.5850 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)
((Kashish.Tandon@thomsonreuters.com; 8800437922;))
India's Sula Vineyards eyes worst day in two months on Q4 profit drop
** Shares of Sula Vineyards SULA.NS down 4.1% at 519.8 rupees, on track for worst day since March 13
** Co's Q4 profit fell 5% YoY
** Stock down ~5% so far this week, set for worst week since late Feb
** United Breweries UBBW.NS posted 8x surge in Q4 profit
** United Spirits UNSP.NS, Radico Khaitan RADC.NS yet to report
** SULA up 4.3% YTD; UBBW and UNSP each up ~11% and RADC up 1.3%
(Reporting by Varun Vyas in Bengaluru)
** Shares of Sula Vineyards SULA.NS down 4.1% at 519.8 rupees, on track for worst day since March 13
** Co's Q4 profit fell 5% YoY
** Stock down ~5% so far this week, set for worst week since late Feb
** United Breweries UBBW.NS posted 8x surge in Q4 profit
** United Spirits UNSP.NS, Radico Khaitan RADC.NS yet to report
** SULA up 4.3% YTD; UBBW and UNSP each up ~11% and RADC up 1.3%
(Reporting by Varun Vyas in Bengaluru)
Indian winemaker Sula Vineyards' Q4 profit slips on mounting expenses
BENGALURU, May 8 (Reuters) - Sula Vineyards SULA.NS, India's biggest wine maker by revenue, reported a 5% drop in fourth-quarter profit on Wednesday, as mounting expenses overshadowed steady demand for its premium brands such as Rasa and Dindori.
The Mumbai-headquartered company's consolidated net profit fell to 135.5 million rupees ($1.6 million) in January-March from 142.4 million rupees a year ago.
Rapid growth of restaurants and increasing incomes have nudged India's rising well-to-do young crowd towards wine consumption.
Sula's revenue rose nearly 10% to 1.32 billion rupees in the quarter on a 14% jump in wine sales.
However, the cost of raw materials, which include grapes, sugar and yeast, surged nearly 9% to 888.8 million rupees, hurting its profit.
The winemaker's earnings before interest, tax, depreciation and amortization margin contracted to 25.3% from 26.4% a year ago.
The company's wine tourism segment grew more than 31%.
"Wine tourism is a top priority and we are expanding fast," CEO Rajeev Samant said in a statement.
Sula recommended a final dividend of 4.50 rupees per share. Its shares closed up 1% ahead of results.
($1 = 83.4700 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)
BENGALURU, May 8 (Reuters) - Sula Vineyards SULA.NS, India's biggest wine maker by revenue, reported a 5% drop in fourth-quarter profit on Wednesday, as mounting expenses overshadowed steady demand for its premium brands such as Rasa and Dindori.
The Mumbai-headquartered company's consolidated net profit fell to 135.5 million rupees ($1.6 million) in January-March from 142.4 million rupees a year ago.
Rapid growth of restaurants and increasing incomes have nudged India's rising well-to-do young crowd towards wine consumption.
Sula's revenue rose nearly 10% to 1.32 billion rupees in the quarter on a 14% jump in wine sales.
However, the cost of raw materials, which include grapes, sugar and yeast, surged nearly 9% to 888.8 million rupees, hurting its profit.
The winemaker's earnings before interest, tax, depreciation and amortization margin contracted to 25.3% from 26.4% a year ago.
The company's wine tourism segment grew more than 31%.
"Wine tourism is a top priority and we are expanding fast," CEO Rajeev Samant said in a statement.
Sula recommended a final dividend of 4.50 rupees per share. Its shares closed up 1% ahead of results.
($1 = 83.4700 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)
India's Sula Vineyards jumps on higher Q4 sales
** Shares of Sula Vineyards SULA.NS rise as much as 5.1% to 584 rupees; last up 2.4%
** Indian winemaker said Q4 sales for its own brands reported a growth of 9% y/y and 11% for FY24 over FY23
** Wine tourism Q4 revenue rose 31% y/y and 22% for FY24 over FY23
** More than 1.1 mln shares change hands by 10:16 a.m. IST, 1.8x the 30-day avg
** SULA up 14% YTD, while peers United Spirits UNSP.NS, United Breweries UBBW.NS and Radico Khaitan RADC.NS are up between 0.8% and 3.2%
(Reporting by Navamya Ganesh Acharya in Bengaluru)
((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))
** Shares of Sula Vineyards SULA.NS rise as much as 5.1% to 584 rupees; last up 2.4%
** Indian winemaker said Q4 sales for its own brands reported a growth of 9% y/y and 11% for FY24 over FY23
** Wine tourism Q4 revenue rose 31% y/y and 22% for FY24 over FY23
** More than 1.1 mln shares change hands by 10:16 a.m. IST, 1.8x the 30-day avg
** SULA up 14% YTD, while peers United Spirits UNSP.NS, United Breweries UBBW.NS and Radico Khaitan RADC.NS are up between 0.8% and 3.2%
(Reporting by Navamya Ganesh Acharya in Bengaluru)
((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))
Sula Vineyards Records Double-Digit Revenue Growth In Q4 And FY24; Announces N D Wines Acquisition
April 8 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LTD - SULA VINEYARDS RECORDS DOUBLE-DIGIT REVENUE GROWTH IN Q4 AND FY24; ANNOUNCES N D WINES ACQUISITION
SULA VINEYARDS LTD - Q4 NET REVENUE UP AROUND 10% YOY
SULA VINEYARDS LTD- ANNOUNCES ACQUISITION OF N D WINES
Source text for Eikon: ID:nBSE6XfRSR
Further company coverage: SULA.NS
April 8 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS LTD - SULA VINEYARDS RECORDS DOUBLE-DIGIT REVENUE GROWTH IN Q4 AND FY24; ANNOUNCES N D WINES ACQUISITION
SULA VINEYARDS LTD - Q4 NET REVENUE UP AROUND 10% YOY
SULA VINEYARDS LTD- ANNOUNCES ACQUISITION OF N D WINES
Source text for Eikon: ID:nBSE6XfRSR
Further company coverage: SULA.NS
Sula Vineyards Approved Execution Of Share Purchase Agreement With Shareholders Of N D Wines
April 4 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS - APPROVED EXECUTION OF SHARE PURCHASE AGREEMENT WITH SHAREHOLDERS OF N D WINES
SULA VINEYARDS LTD - COST OF ACQUISITION NOT EXCEEDING 140 MILLION RUPEES
Source text for Eikon: ID:nBSE5wH0zN
Further company coverage: SULA.NS
April 4 (Reuters) - Sula Vineyards Ltd SULA.NS:
SULA VINEYARDS - APPROVED EXECUTION OF SHARE PURCHASE AGREEMENT WITH SHAREHOLDERS OF N D WINES
SULA VINEYARDS LTD - COST OF ACQUISITION NOT EXCEEDING 140 MILLION RUPEES
Source text for Eikon: ID:nBSE5wH0zN
Further company coverage: SULA.NS
India's Sula Vineyards climbs on disposal of $14 mln demand notice
** Shares of Sula Vineyards SULA.NS up 3.8% at 543 rupees, on track for third straight day of gains
** Winemaker says Maharashtra state government sets aside demand notice of 1.16 billion rupees ($14 mln) from Feb. 2018
** Stock breaches 100-day moving avg
** Stock up 54% in last 12 months; YTD, it is up 8% so far
($1 = 82.8900 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Sula Vineyards SULA.NS up 3.8% at 543 rupees, on track for third straight day of gains
** Winemaker says Maharashtra state government sets aside demand notice of 1.16 billion rupees ($14 mln) from Feb. 2018
** Stock breaches 100-day moving avg
** Stock up 54% in last 12 months; YTD, it is up 8% so far
($1 = 82.8900 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
India's Sula Vineyards up after record grape harvest
** Shares of India's largest wine producer Sula Vineyards SULA.NS up 2.8% at 572.60 rupees
** SULA says grape harvest in 2024 "shaping up to be excellent" in terms of quantity and quality for fourth straight year, with harvest setting new record of more than 10,500 tons
** Adds it is set to open its first tasting room and bottle shop outside its wineries in Q1 FY25
** Stock eyes fifth straight quarter of gains
** Stock up 14.6% YTD, after a 50.3% rise in 2023
(Reporting by Rama Venkat in Bengaluru)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))
** Shares of India's largest wine producer Sula Vineyards SULA.NS up 2.8% at 572.60 rupees
** SULA says grape harvest in 2024 "shaping up to be excellent" in terms of quantity and quality for fourth straight year, with harvest setting new record of more than 10,500 tons
** Adds it is set to open its first tasting room and bottle shop outside its wineries in Q1 FY25
** Stock eyes fifth straight quarter of gains
** Stock up 14.6% YTD, after a 50.3% rise in 2023
(Reporting by Rama Venkat in Bengaluru)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))
Verlinvest Asia Sells Entire 8.34% Stake In Sula Vineyards - Exchange Filing
Feb 20 (Reuters) -
VERLINVEST ASIA SOLD ENTIRE 8.34% STAKE IN SULA VINEYARDS - EXCHANGE FILING
Source text for Eikon: ID:nBSE7yMkx2
Further company coverage: SULA.NS
Feb 20 (Reuters) -
VERLINVEST ASIA SOLD ENTIRE 8.34% STAKE IN SULA VINEYARDS - EXCHANGE FILING
Source text for Eikon: ID:nBSE7yMkx2
Further company coverage: SULA.NS
India's Sula Vineyards falls on report long-term investor exiting co
Adds Sula's comments
** Shares of Sula Vineyards SULA.NS down 6.4% at 578.40 rupees
** Investment firm Verlinvest Asia PTE is selling its entire 8.34% stake in Sula for $52 mln, TV channel ET Now reported on Friday
** Verlinvest did not immediately respond to Reuters request for comment
** Sula says not aware of Verlinvest's decision to sell entire stake in co
** Verlinvest had invested in Sula in 2010, as per its website
** Sula shares gained over 50% in 2023 and up 15.5% YTD
(Reporting by Sethuraman NR in Bengaluru)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Adds Sula's comments
** Shares of Sula Vineyards SULA.NS down 6.4% at 578.40 rupees
** Investment firm Verlinvest Asia PTE is selling its entire 8.34% stake in Sula for $52 mln, TV channel ET Now reported on Friday
** Verlinvest did not immediately respond to Reuters request for comment
** Sula says not aware of Verlinvest's decision to sell entire stake in co
** Verlinvest had invested in Sula in 2010, as per its website
** Sula shares gained over 50% in 2023 and up 15.5% YTD
(Reporting by Sethuraman NR in Bengaluru)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Verlinvest To Offload 8.34% Stake In Sula Vineyards Worth About $52 MLn - ET Now
Feb 16 (Reuters) -
VERLINVEST TO OFFLOAD 8.34% STAKE IN SULA VINEYARDS WORTH ABOUT $52 MN - ET NOW
Source text : https://bit.ly/3SJN3KX
Further company coverage: SULA.NS
Feb 16 (Reuters) -
VERLINVEST TO OFFLOAD 8.34% STAKE IN SULA VINEYARDS WORTH ABOUT $52 MN - ET NOW
Source text : https://bit.ly/3SJN3KX
Further company coverage: SULA.NS
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What does Sula Vineyards do?
Sula Vineyards Limited is India's largest wine producer offering a wide range of wine variants like red, white, and sparkling wines under popular brands such as 'Sula', 'RASA', 'Dindori', 'The Source', 'Satori', 'Madera', and 'Dia'.
Who are the competitors of Sula Vineyards?
Sula Vineyards major competitors are Assoc Alcohols &Brew, Som DistilleriesBrew, IFB Agro Inds, Jagatjit Inds., GM Breweries, Northern Spirits, Globus Spirits. Market Cap of Sula Vineyards is ₹1,322 Crs. While the median market cap of its peers are ₹1,379 Crs.
Is Sula Vineyards financially stable compared to its competitors?
Sula Vineyards seems to be less financially stable compared to its competitors. Altman Z score of Sula Vineyards is 3.05 and is ranked 7 out of its 8 competitors.
Does Sula Vineyards pay decent dividends?
The company seems to pay a good stable dividend. Sula Vineyards latest dividend payout ratio is 43.28% and 3yr average dividend payout ratio is 67.95%
How has Sula Vineyards allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Sula Vineyards balance sheet?
Balance sheet of Sula Vineyards is strong. But short term working capital might become an issue for this company.
Is the profitablity of Sula Vineyards improving?
No, profit is decreasing. The profit of Sula Vineyards is ₹30.09 Crs for TTM, ₹70.2 Crs for Mar 2025 and ₹93.31 Crs for Mar 2024.
Is the debt of Sula Vineyards increasing or decreasing?
Yes, The net debt of Sula Vineyards is increasing. Latest net debt of Sula Vineyards is ₹347 Crs as of Sep-25. This is greater than Mar-25 when it was ₹269 Crs.
Is Sula Vineyards stock expensive?
Sula Vineyards is not expensive. Latest PE of Sula Vineyards is 43.94, while 3 year average PE is 44.43. Also latest EV/EBITDA of Sula Vineyards is 16.02 while 3yr average is 22.27.
Has the share price of Sula Vineyards grown faster than its competition?
Sula Vineyards has given lower returns compared to its competitors. Sula Vineyards has grown at ~-23.28% over the last 3yrs while peers have grown at a median rate of 16.19%
Is the promoter bullish about Sula Vineyards?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Sula Vineyards is 24.35% and last quarter promoter holding is 24.35%.
Are mutual funds buying/selling Sula Vineyards?
The mutual fund holding of Sula Vineyards is decreasing. The current mutual fund holding in Sula Vineyards is 17.74% while previous quarter holding is 17.94%.