Sula Vineyards Ltd
Sula Vineyards Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Management acknowledges recent subpar revenue growth, with nearly five quarters of underperformance. Management is cautious about providing specific future guidance due to recent challenges, including soft urban demand and temporary disruptions in Maharashtra following excise duty hikes.
From Sula Vineyards Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Management acknowledges recent subpar revenue growth, with nearly five quarters of underperformance.
- Given the current low wine penetration, there is hope for a return to at least low double-digit revenue growth.
- The last year has been challenging, and no explicit future guidance on growth rates was given.
- Sula is working hard to return to growth, focusing on expanding their premium wine portfolio and enhancing wine tourism.
- New resort openings and improved connectivity (e.g., Samruddhi highway) are expected to aid growth.
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Profitability & Margins
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Capital Expenditure Plans
- Major capital investments are now behind Sula Vineyards.
- Capex for FY '26 and onwards is expected to moderate to around INR 35 crores annually, roughly half of the last 3 years' spend (which was INR 50-60 crores per annum).
- The focus is on expanding wine tourism with new resort openings, such as the upcoming 30-key "Haven by Sula" near the York winery, increasing room capacity by ~30% to 134 keys and adding convention facilities.
- The company is open to expanding wine-friendly resorts in diverse geographies under asset-light models funded by third parties, focusing on operations and brand promotion rather than owning resorts.
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Top-ranked in Beverages
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Sula Vineyards Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹135 Cr, net profit ₹9 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Sula Vineyards Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Sula Vineyards Ltd Q1 FY26 results?
Management acknowledges recent subpar revenue growth, with nearly five quarters of underperformance. Management is cautious about providing specific future guidance due to recent challenges, including soft urban demand and temporary disruptions in Maharashtra following excise duty hikes.
What is Sula Vineyards Ltd share price analysis?
Sula Vineyards Ltd currently shows a neutral. The stock trades at a P/E of 48.9 with a market cap of ₹1,266 Cr. Investors should review the full earnings analysis for detailed insights.
Is Sula Vineyards Ltd planning capital expenditure?
Major capital investments are now behind Sula Vineyards.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.