Sula Vineyards crosses the 1 million cases mark for Own Brands in FY23

Sula Vineyards Limited, India's largest and only listed wine producer, with over 60 per cent share in the Elite & Premium1 wine business, announced its Q4 & FY23 sales update.

Own brands sales volumes crossed 1 million cases, with Elite & Premium wines surging past the 5 lakh case mark for the first time. The Company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business.

The company witnessed a strong ~15% growth YoY Q4FY23 for its own brands. Wine tourism grew by ~18% YoY Q4FY23 with a ~30% jump in FY23 over FY22.

Speaking on the successful year, Rajeev Samant, CEO said, "FY23 has been one of the most momentous and successful years in Sula's 23-year journey. Our focus on premiumisation is reaping rich dividends - more than 52% of 1 million cases are our Elite & Premium wines including our Sula Vineyards, RASA & The Source brands. That share was just 46% in pre-pandemic FY19. We continue our laser-like focus on our highly profitable own brands, and at the same time prune the imported brands business.

I'm particularly pleased that we conducted more than 1.3 lakh unique individual tastings at our iconic vineyards, a massive 66% growth from the year before. This continues to be a significant focus area for the company.

Our wine tourism business continues to soar with total revenue2 touching Rs. 80 Crs in FY23 vs just Rs. 44 Crs in FY19 and we expect this to be a 100 Cr business in the coming year.

The tribe of Indian wine drinkers is clearly growing - they are reaching for more premium wines and increasingly those are Sula's brands."

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 352.10 as compared to the previous close of Rs. 360.10. The total number of shares traded during the day was 21450 in over 906 trades.

The stock hit an intraday high of Rs. 360.15 and intraday low of 351.00. The net turnover during the day was Rs. 7605662.00.

Source : Equity Bulls

Keywords

SulaVineyards INE142Q01026 Breweries Distilleries WineProducer Elite Premium1 WineBusiness SalesUpdate Q4FY23 FY2023