Stock Report

Sula Vineyards sees Wine Tourism Records Tumble over Long Holiday Weekend

Posted On : 2023-08-17 19:44:59( TIMEZONE : IST )

Sula Vineyards Limited (NSE: SULA) announced that their iconic Wine Tourism operations achieved a record-breaking long weekend as visitor attendance surged at the Nashik and Bengaluru wine tourism facilities on August 12-14.

Revenues over the three days touched INR 2.08 Cr, 40% higher than the previous three-day record of INR 1.47 CR.

Both August 13 & 14 crossed the previous single day revenue record of INR 70 lacs set on August 14 2022, with Aug 13 setting a new record of INR 82 lacs.

A record 11,670 visitors enjoyed a day at Sula over the three days, a massive jump from the previous record of 8,532 visitors in the year-ago period. August 14 saw the highest ever single day footfall with 3711 visitors, erasing the previous record of 3471 set on the same date in 2022.

Tastings, a major focus of Sula's wine tourism, also set a record with over 4700 individual tastings over the 3-day period, a big jump from the previous record of 3600 tastings set a year ago.

Sula's wine tourism is an integral pillar of the business with thousands of potential wine drinkers tasting their first glass of wine at the iconic Tasting Room terrace at the company's original, historic Nashik facility which kicked off the Indian wine revolution.

Wine tourism which was earlier mostly limited to the winter months is now an all-year round phenomenon. Daily flights to Nashik and Shirdi airports bring in wine tourists from all across the country, while the recently completed expressway to Mysuru means Sula's Domaine Sula facility is less than a 2-hour drive for most Bengalureans.

"Sula's wine tourism visitors, revenues and tastings are second to no other in the world today. I look back at when we opened the first winery tasting room in India in 2005, when we were happy to welcome even 10 visitors a day, and I marvel at just how far we have come. It is very exciting indeed! I want to specially thank the state governments of Maharashtra and Karnataka who have been very proactive in encouraging wine tourism." - Rajeev Samant, Sula CEO said.

(*Numbers are for a normal weekend, not including the erstwhile Sulafest music festival.

Revenue includes bottle sale of wines classified under Own Brands in Financial Statements.)

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 489.35 as compared to the previous close of Rs. 492.70. The total number of shares traded during the day was 7937 in over 553 trades.

The stock hit an intraday high of Rs. 498.00 and intraday low of 487.10. The net turnover during the day was Rs. 3905111.00.