Sula Vineyards records Steady Revenue in Q1 FY26

Sula Vineyards Limited (NSE: SULA), India's largest wine producer, announces its Q1 FY26 Sales Update.

Sula reported stable revenue in Q1 FY26, notwithstanding the one-time WIPS unwinding benefit of INR 10.4Cr in Q1 FY25. Wine Tourism continued to be a standout with over 20% YoY growth.

Own Brands revenue remained subdued due to the continued slowdown in urban consumption. Additionally, the increase in excise duties on spirits in Maharashtra, effective 25th June, prompted heavy pre-loading of spirits by the trade aiming to capitalize on pre-revision prices, thereby temporarily blocking the trade placement for wine. Notably, the excise duties on wine remain unchanged, which bodes well for the industry going forward.

The share of Elite & Premium improved in Q1 FY26 led by strong double-digit growth in The Source and RĀSĀ.

Wine Tourism continued to demonstrate strong momentum, reporting its highest ever Q1 revenue, propelled by an increase in footfalls, record Q1 resort occupancy and spends per guest. In a further boost, Sula just got closer with the operationalization of the Samruddhi Highway in June '25, reducing travel time from Mumbai to Nashik by nearly an hour. Adding to the good news, The Dindori Tasting Room and Bottle Shop at ND Wines are now open and well-positioned to attract wine enthusiasts, given its proximity to the Gujarat border.

Sula continues to be steadfast on the award-winning path, with four of its wines - The Source Reserve Chenin Blanc, The Source Sauvignon Blanc Reserve, Dindori Reserve Chardonnay, and Dindori Reserve Viognier, winning Silver at the prestigious Decanter World Wine Awards 2025.

To conclude, in other exciting news, continuing our tradition as India's wine pioneers, Sula is pleased to announce the launch of 'Sula Muscat Blanc', India's first low alcohol still Muscat wine with just 7.5% ABV. Muscat / Moscato is the world's fastest growing white wine in the past decade. Also, this is our second wine launch of the Muscat varietal after 'The Source Moscato', which has been Sula's fastest wine to hit 10,000 cases. Part of the bestseller Sula Vineyards range, 'Sula Muscat Blanc' will initially be available in wine shops across Maharashtra, with Karnataka to follow in the coming months.

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 299.55 as compared to the previous close of Rs. 301.40. The total number of shares traded during the day was 22650 in over 1106 trades.

The stock hit an intraday high of Rs. 303.70 and intraday low of 298.60. The net turnover during the day was Rs. 6816342.00.

Source : Equity Bulls

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SulaVineyards INE142Q01026 Breweries Distilleries Q1FY26 SalesUpdate