Sula Vineyards Gears Up for Growth: New Tasting Room, Record Harvest, Digital Success

Sula Vineyards Limited (NSE: SULA), India's largest and only listed wine producer, signs agreement for a new Tasting Room and Bottle Shop close to Nashik airport; looks forward to a record 2024 wine grape harvest; and achieves a notable global digital milestone.

First Tasting Room outside Sula's Wineries

Sula Vineyards is all set to open its first-ever Tasting Room and Bottle Shop outside its wineries in Q1 FY25. The new Tasting Room, Sula's fourth, is strategically located on the Mumbai - Agra highway close to Nashik Airport and HAL Ozar, thus catering to the fast-growing demand from the regions north and east of Nashik.

Sula CEO Rajeev Samant commented: "This marks a significant step for Sula - our first Tasting Room outside our own winery premises, the start of a new chapter where we envision more Sula Tasting Rooms opening across the country. Plans are already in the works to open a fifth Tasting Room in the second half of FY25."

Record 2024 grape harvest

The 2024 grape harvest is shaping up to be excellent in quantity as well as quality for a fourth consecutive year, with the wine grape harvest setting a new record of over 10,500 tons.

"The harvest is excellent, with red grapes comprising ~65% of total wine grapes. This signifies a notable shift from five years ago when red grapes constituted 55% of the total, reflecting India's increasing preference for red wines. Syrah and Chenin Blanc are the top two varieties in this harvest," said Sula COO, Karan Vasani.

Reaching new digital heights

In February 2024, Sula hit an all-time high of #11 on the star-studded list of most-Instagrammed wine brands worldwide. Sula also crossed 150,000 followers on Instagram, an impressive milestone for a wine brand on the world's #1 social media app.

"We really got active on Instagram during Covid, and we are proud of our digital team's achievement to reach #11 in the company of the world's most amazing wine brands. Given how fast we are gaining new followers, I have no doubt that we will crack the top 10 soon!" COO Karan Vasani added.

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 557.15 as compared to the previous close of Rs. 526.35. The total number of shares traded during the day was 148114 in over 4465 trades.

The stock hit an intraday high of Rs. 558.30 and intraday low of 527.90. The net turnover during the day was Rs. 81410824.00.

Source : Equity Bulls

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