Sula Vineyards Garners Highest Ever Quarterly Sales In Q3. Details Here

As per the regulatory filing, Sula registered an upside of 13% in own brands sales to ₹187.2 crore during Q3 versus ₹165.7 crore in Q3FY22. While in nine months period of FY23, the growth was at 28% YoY. The performance was led by strong growth in volumes as well as realisations.

Also, the company posted a 13% growth in wine tourism revenues to ₹23 crore during Q3 versus ₹20.3 crore in Q3FY22, while the gains were around 48% YoY in 9MFY23.

On the strong quarterly sales and the recent IPO, Sula Vineyards CEO Rajeev Samant said, "this marks a new milestone in the journey of Sula Vineyards, which began when we planted the first wine grapes in Nashik in 1996. Sula is one of the most loved home-grown consumer brands in India today."

Samant added, "Building on the strong bounce back from the recent Covid pandemic, we are pleased to have delivered our highest-ever quarterly sales performance. Our iconic wine tourism business also saw its best ever."

Further, the CEO highlighted that with the company's new 2.5 million litre cellar up and running in time for the 2023 grape harvest --- which is looking excellent in terms of quantity and quality --- Sula is poised to continue its growth story and leadership in the Indian wine industry.

Sula launched it's ₹960.35 IPO on December 12 to December 14 and is a first-of-its-kind listing in the wine market. The IPO had received a full subscription of 2.33 times on the last day with healthy demand from across investors category.

The company was listed on December 22 on the stock exchanges.

On Friday, Sula Vineyards' share price closed at ₹325.45 apiece marginally up on BSE. The company's market cap is over RS 2,740 crore.

Currently, Sula Vineyards have been a consistent market leader in the Indian wine industry. Sula has made remarkable progress in over a decade. Currently, the company produces 56 different labels of wines across 13 district brands at its four-owned and two leased production facilities that are situated in Maharashtra and Karnataka.