Saturday, June 15, 2024

Sula Vineyards own brand sales up 15% at ₹104.3 cr, wine tourism business up 18% in Q4

The largest wine producer in the country, Sula Vineyards on Tuesday announced March 2023 quarterly sales figures. In Q4, Sula recorded the highest-ever annual revenues in both its own brands and wine tourism business.

As per the regulatory filing, Sula registered an upside of 15 per cent in own brands sales to 104.3 crore during March quarter as compared to 90.7 crore in corresponding quarter last fiscal.

Sula Vineyards’ own brands sales volumes crossed 1 million cases, with Elite & Premium wines surging past the 5 lakh case mark for the first time.

While in FY23, the growth for own brand sales was at 26 per cent year-on-year at 482.5 crore as compared to 382.2 crore in the year ago period.

Sula Vineyards posted 18 per cent growth in wine tourism revenues to 12.4 crore during March quarter as compared to 10.5 crore in Q3FY22. While the gains were 30 per cent for FY 23 at 45 crore.

““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.”

On Tuesday, the company’s share ended 2.22 per cent down at 352.10 on BSE.

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