Fratelli Vineyards Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 19 Jul 2026 | Beverages | Market Cap: ₹451 Cr
Fratelli Vineyards targets 15% to 20% top-line growth for the current year, expecting recovery from Q2 FY26 onwards after a temporary dip in Q1 due to Maharashtra market disruption. Fratelli Vineyards expects 15-20% top-line growth for FY26, with recovery beginning Q2 onwards after Q1 impact due to Maharashtra market disruptions.
From Fratelli Vineyards Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹111
Market Cap
₹451 Cr
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Fratelli Vineyards Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹64 Cr, net profit ₹-9 Cr.
Full financials →📊 Revenue & Sales Performance
- →Fratelli Vineyards targets 15% to 20% top-line growth for the current year, expecting recovery from Q2 FY26 onwards after a temporary dip in Q1 due to Maharashtra market disruption.
- →The Indian wine industry is expected to grow at 15% to 20% over the next 3-4 years, driven by premiumization and expanding consumer base.
- →The company aims to increase reach across 29 states with approximately 25,000 touchpoints and expand presence in Tier-2 and Tier-3 cities.
- →New product launches like Pinot Noir, Shotgun (RTD), and TILT (wine in a can) are expected to broaden the market base and contribute to growth.
- →Shotgun RTD has already gained 5% market share in tracked states and targets presence in 15 states by FY26-end, adding to volume growth.
- →Expansion in hospitality and setting up a new winery in Karnataka are longer-term growth enablers.
- →Capacity expansions with 5.4 million litre winery capacity support growth for the next 3-5 years without immediate capital needs.
📈 Profitability & Margins
- →Fratelli Vineyards expects 15-20% top-line growth for FY26, with recovery beginning Q2 onwards after Q1 impact due to Maharashtra market disruptions.
- →Gross margins are strong, with premium and above brands maintaining over 70% of revenue; RTD products have slightly lower but healthy gross margins (65-70%).
- →EBITDA margins are currently soft due to investments in new initiatives like Shotgun and category development but expected to improve with operational efficiencies and top-line expansion.
- →Cost optimization, including solar energy use and supply chain improvements, is anticipated to boost EBITDA margins by 200-250 basis points.
- →Current capacities and CAPEX (Rs.70 crores till FY25, Rs.12 crores planned in FY26) position the company for 3-5 years of growth without additional capital; future capital may be needed beyond Rs.500 crores revenue.
- →New hospitality investments (Rs.65-75 crores planned) aim to support brand building and diversification, with payback and profitability under evaluation.
- →EPS growth is linked to top-line growth, margin expansion, and controlled finance costs as investments mature.
🏗️ Capital Expenditure Plans
- →Completed CAPEX of approximately Rs.70 crores during FY23 to FY25 for winery expansion, new equipment, and vineyards.
- →Planned CAPEX of around Rs.12 crores in FY26 to largely complete the current capacity expansion cycle for growth over the next 3-5 years.
- →Intent to invest Rs.65 to Rs.75 crores in the hospitality segment, focusing initially on a 40-key property, with a strategic approach to possibly have operators run properties.
- →Working on setting up a new Greenfield winery in Karnataka; funding and details are yet to be finalized.
- →Possibility of fundraising or capital market raising linked to new CAPEX projects, although current core business is adequately funded with a debt cost of around 10%.
- →Hospitality venture rollout planned initially in Maharashtra; revenue contribution expected after two-plus years.
- →No preferential borrowing rates available despite direct benefits to farmers; borrowings treated like other alcohol businesses.
💰 Fundraising & Capital Structure
- →No immediate plans for equity fundraising as the company is comfortably funded for its existing core business.
- →Promoters do not see a need to come to the capital markets for current operations.
- →Debt profile is comfortable with current borrowings around Rs.30-35 crores term debt and Rs.70 crores working capital; cost of debt is approximately 10%.
- →Future fundraising not ruled out for new CAPEX projects, specifically related to hospitality expansion or new winery setups.
- →Any additional capital needs beyond Rs.500 crores revenue would be revisited in due course.
- →Management will provide more clarity on fundraising if and when new projects proceed over the next one or two quarters.
📋 Order Book & Pipeline
Key Metrics
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What FratelliVineyard's management said in earlier quarters
Frequently Asked Questions
What were Fratelli Vineyards Ltd Q1 FY26 results?
Fratelli Vineyards targets 15% to 20% top-line growth for the current year, expecting recovery from Q2 FY26 onwards after a temporary dip in Q1 due to Maharashtra market disruption. Fratelli Vineyards expects 15-20% top-line growth for FY26, with recovery beginning Q2 onwards after Q1 impact due to Maharashtra market disruptions.
What is Fratelli Vineyards Ltd share price analysis?
Fratelli Vineyards Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹451 Cr. Investors should review the full earnings analysis for detailed insights.
Is Fratelli Vineyards Ltd planning capital expenditure?
Completed CAPEX of approximately Rs.70 crores during FY23 to FY25 for winery expansion, new equipment, and vineyards.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.