Sula Vineyards Posts Stable Q2 Revenue Amid Profit Dip; Wine Tourism Hits Record High

Sula Vineyards Limited delivered steady revenue of Rs 1.4 billion for the second quarter of FY26, a marginal decline of 1.1% compared to last year. The net profit stood at Rs 60.2 million, down 58.4%, primarily affected by route-to-market disruptions in its Telangana market, the company's third-largest by revenue.

Despite these hurdles, the wine tourism segment reached a record revenue of Rs 132 million, growing 7.7% year-on-year, driven by increased visitor numbers and higher spending per guest. The resort occupancy rate improved to 77%, supported by the recent launch of "The Haven by Sula," a luxury resort aimed at enhancing customer experience and boosting tourism.

The company's Elite and Premium wine portfolio maintained a 78% contribution to total revenue, aided by the successful launch of Muscat Blanc, a low-alcohol premium wine variety. Favorable monsoon conditions in growing regions set the stage for a strong grape harvest, supporting production and wine tourism growth in the forthcoming quarters.

Key Highlights

• Sept quarter revenue: Rs 1.4 billion, down 1.1% YoY.
• Net profit declined 58.4% to Rs 60.2 million.
• Wine tourism segment achieved record Q2 revenue of Rs 132 million (+7.7% YoY).
• Resort occupancy increased to 77%, with new resort launch enhancing tourism.
• Elite & Premium wines contribute 78% of revenue, Muscat Blanc launched successfully.
• Favorable monsoon conditions support strong grape harvest outlook.

Sources: ScanX Trade, Sula Vineyards official communication, Reuters, Moneycontrol