Sula Vineyards Ltd
Sula Vineyards Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Own Brands sales saw a 5% decline in FY '26 but showed recovery momentum in Q4 with 7% YoY growth in revenue. FY '27 outlook shows cautious optimism for margin improvement but no return to 30% operating margins soon.
From Sula Vineyards Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Own Brands sales saw a 5% decline in FY '26 but showed recovery momentum in Q4 with 7% YoY growth in revenue.
- Wine Tourism is growing strongly, now constituting about 19-20% of total revenue, with expectations to increase by another 200-300 basis points in FY '27.
- Wine Tourism visitor footfall increased by double digits with over 4 lakh visitors in FY '26; room capacity expanded 50% to 154 keys with healthy occupancy (~70-80%).
- The Source range sales grew over 20% in FY '26 and continue to expand nationally, contributing over 10% to Own Brands sales.
- Revenue growth in UP exceeded 50% in FY '26, with policy changes expected to enable further expansion.
- The company expects continued growth in Wine Tourism and Own Brands with new projects and increased distribution.
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Profitability & Margins
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Capital Expenditure Plans
- In FY '27, Wine Tourism capex is planned to be about 3 times the investment on the winery front, signaling strategic focus on this segment.
- Opening a new retail store at Domaine Dindori Winery in Nashik in Q1 FY '27.
- Expanding amphitheater capacity at SulaFest by Q2 to accommodate more attendees.
- Building a 5,000 sq. ft. air-conditioned event pavilion at Nashik flagship campus, operational by Q3 for weddings and corporate events.
- Signed binding agreement to acquire Chandon's 19-acre estate in Dindori, Nashik, pending regulatory approvals; plans to expand Wine Tourism footprint.
- Ongoing annual capex expected to be lower than INR 25 crores spent in FY '26, excluding Chandon acquisition.
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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 Q4 FY26 results?
Own Brands sales saw a 5% decline in FY '26 but showed recovery momentum in Q4 with 7% YoY growth in revenue. FY '27 outlook shows cautious optimism for margin improvement but no return to 30% operating margins soon.
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?
In FY '27, Wine Tourism capex is planned to be about 3 times the investment on the winery front, signaling strategic focus on this segment. - Opening a new retail store at Domaine Dindori Winery in Nashik in Q1 FY '27. - Expanding amphitheater capacity at SulaFest by Q2 to accommodate more attendees. - Building a 5,000 sq.
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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.