Sula Vineyards
- Market cap
- ₹ 1,073 Cr.
- P/E
- 41.4x
- P/B
- 1.88x
- 52-week range
- 125.71 – 261.85
- ROE
- 5%
- ROCE
- 8%
- Dividend yield
- 1.5%
- Debt / equity
- 0.57
- Sector
- Beverages
- Industry
- Breweries & Distilleries
- Listed on
- NSE, BSE
About
Sula Vineyards Limited is an India-based wine producer, which is engaged in the business of manufacture, purchase and sale of wine and other alcoholic beverages. The Company operates under two categories of business: wine business and wine tourism. Its wine business is engaged in the production of wine, the import of wines and spirits, and the distribution of wines and spirits. Its wine tourism business is engaged in the sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms. It offers a range of wines across four brands, which include RASA, The Source, Dindori, and Sula. Its product categories include red wine, white wine, rose wine, sparkling wine, and wine in a can. Its red wine products include Syrah, Zinfandel, Shiraz, and Shiraz Cabernet. Its white wine products include Chardonnay, Viognier, Chenin Blanc, and Riesling. Its rose wine products include Grenache Rose Wine and Zinfandel Rose.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Breweries & Distilleries: 28 companies →Sula Vineyards against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)41.4 against a typical 39.7: pricier than most peers (1st = cheapest).15th of 27
- Sales growth+2.9% against a typical +11.8% from a year earlier.18th of 25
- Profit growth−45.4% against a typical +10.1% from a year earlier.16th of 20
- Share price, 3 months−24.2% against a typical −9.2%.25th of 28
- Size₹ 1,073.3 Cr. market value against a typical ₹ 419.4 Cr. (1st = largest).9th of 24
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety, with caution
Rated A+ by ICRA- ICRA expects things to get worse (negative outlook).
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]A+ /[ICRA]A1 | Negative | 19 Nov 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 19 Nov 2025 | Reaffirmed | [ICRA]A+ /[ICRA]A1 | — | ICRA | ₹ 425 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 5 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 6 Aug 2026 | Financial Results | To consider, approve & take on record the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026 which shall be subject to limited review by the Statutory Auditor of the Company. |
| 6 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 6 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 10 Nov 2025 | Financial Results | To consider and approve the financial results for the quarter and half year ended September 30, 2025 |
| 6 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 8 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 134 | 203 | 123 | 121 | 132 | 200 | 126 | 110 | 131 | 180 | 135 | 113 |
| Expenses | 89 | 131 | 93 | 87 | 99 | 147 | 97 | 91 | 105 | 148 | 107 | 96 |
| Operating Profit | 44 | 72 | 29 | 34 | 34 | 53 | 28 | 18 | 25 | 32 | 28 | 17 |
| OPM % | 33.1% | 35.4% | 24.1% | 28.1% | 25.4% | 26.5% | 22.6% | 16.7% | 19.5% | 17.7% | 20.6% | 14.7% |
| Other Income | 1 | 1 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | −1 | 1 | 2 |
| Interest | 7 | 8 | 6 | 7 | 8 | 8 | 7 | 8 | 9 | 8 | 7 | 7 |
| Depreciation | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 10 |
| Profit before tax | 31 | 57 | 19 | 19 | 18 | 37 | 14 | 3 | 8 | 13 | 12 | 2 |
| Tax % | 25.4% | 24.7% | 27.6% | 24.9% | 19.9% | 24.6% | 3.9% | 24.2% | 27.2% | 27.6% | 28.4% | 30.3% |
| Net Profit | 23 | 43 | 14 | 15 | 14 | 28 | 13 | 2 | 6 | 9 | 9 | 1 |
| EPS in Rs | 2.74 | 5.09 | 1.61 | 1.73 | 1.72 | 3.32 | 1.54 | 0.23 | 0.71 | 1.08 | 1.02 | 0.13 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 8%
- 3 Years
- 2%
- TTM
- −2%
- 10 Years
- —
- 5 Years
- 32%
- 3 Years
- −32%
- TTM
- −55%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- −34%
- TTM
- —
- 10 Years
- —
- 5 Years
- 13%
- 3 Years
- 11%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Sula Vineyards | ₹ 126.80 | ₹ 1,073 Cr. | 41.4x | 1.9x | 5% | — |
| United Spirits | ₹ 1,255.60 | ₹ 91,326 Cr. | 55.4x | 11.2x | 20% | 6.1% |
| Radico Khaitan | ₹ 4,170.00 | ₹ 55,873 Cr. | 89.3x | 16.6x | 19.9% | 2.9% |
| United Breweries | ₹ 1,143.85 | ₹ 30,246 Cr. | 95.1x | 7.8x | 9.3% | 2.4% |
| Allied Blenders and Distillers | ₹ 672.65 | ₹ 18,866 Cr. | 75.3x | 10.4x | 14.3% | 2.9% |
| Tilaknagar Industries | ₹ 490.70 | ₹ 12,144 Cr. | 38x | 3.7x | 1.1% | 0.4% |
Management
- Rajeev Samant
- Chief Executive Officer, Managing Director, Executive Director
- Rinku More
- Chief Financial Officer - Designate
- Gorakh Gaikwad
- Chief Operating Officer
- Neeraj Sharma
- Senior Vice President of Sales
- Monit Dhavale
- Senior Vice President - Hospitality Business
- Gayathri S. Iyer
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.