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3% Revenue Growth in Q1 FY27; Elite & Premium Portfolio Hits Record 78% Share
Sula Vineyards reported a modest 3% YoY revenue growth to ₹121 crore in Q1 FY27, supported by a 6% growth in its Elite & Premium segment. Wine Tourism revenue grew 12% YoY to ₹15.5 crore, now contributing 13% to total revenue. Gross margins were impacted by 150 bps due to a strategic shift to 100% wine grape procurement to manage inventory. The company completed the ₹20 crore acquisition of the former Chandon estate (Domain RASA), with winery operations expected to start in Q4 FY27.
Confidence: HIGH
What changedSula has successfully pivoted its portfolio towards premium labels (78% share) and integrated the ₹20 crore Chandon estate acquisition to boost tourism and production.
Why it mattersThe shift to premiumization and tourism (13% of revenue) helps mitigate volume pressure and competitive discounting in the economy segment, though short-term margins remain under pressure from grape procurement costs.
Q1 Net Revenue: ₹121 crElite & Premium Share: 78%Wine Tourism Revenue: ₹15.5 crChandon Estate Acquisition: ₹20 crAcquisition vs Net Worth: ~3.6%Gross Margin Impact: 150 bps
📅 Short termThe stock may see neutral to slightly cautious sentiment due to the 150 bps margin compression and slow 3% top-line growth despite premiumization efforts.
📈 Long termStructural focus on the Elite & Premium segment and expansion of high-margin wine tourism capacity (Domain RASA) are positive for long-term profitability and brand equity.
⚠ Risk flags
- Margin pressure from higher wine grape costs
- Unsustainable discounting by competitors in the economy segment
- Agro-climatic risks affecting grape yields
Key Highlights
Elite & Premium brands reached an all-time high share of 78% of Own Brands sales, up 310 bps YoY.
Wine Tourism revenue increased 12% YoY to ₹15.5 crore, with resort occupancy at 63%.
Completed acquisition of the former Chandon estate for ₹20 crore, representing ~3.6% of net worth.
Gross margin faced a 150 bps headwind due to 100% wine grape procurement in the 2026 harvest.
Telangana market showed a strong recovery with over 50% YoY growth following regulatory resolutions.
👀 What to Watch
Monitor the impact of 5 new brand listings in the CSD segment expected by Q3 FY27 and the guided margin recovery in Q4 FY27 as grape costs normalize.
Sula Q1 FY27: Net Revenue up 3% to ₹112.9 Cr; PAT drops 46% on margin compression
Sula Vineyards reported a modest 3% YoY growth in net revenue to ₹112.9 Cr for Q1 FY27, supported by a 12.3% rise in wine tourism revenue. However, PAT fell sharply by 46% to ₹1.0 Cr as gross margins contracted by 550 bps to 68.5%, primarily due to a higher mix of expensive wine grapes used to conserve working capital. The company completed the ₹20 Cr acquisition of the Chandon Estate (renamed Domaine Rāsā) and continues its premiumization strategy, with Elite & Premium brands now contributing 78% of own-brand revenue.
Confidence: HIGH
What changedSula reported a significant drop in profitability despite stable revenue, driven by a strategic shift in grape procurement mix and the completion of a ₹20 Cr acquisition.
Why it mattersThe results highlight the company's vulnerability to raw material costs and agro-climatic factors, even as it successfully pushes for a more premium product mix and expands its high-margin tourism business.
Net Revenue (Q1 FY27): ₹112.9 CrPAT (Q1 FY27): ₹1.0 CrAcquisition Value (Domaine Rāsā): ₹20 CrAcquisition vs Net Worth: ~3.6%Gross Margin: 68.5%Elite & Premium Mix: 78%
📅 Short termThe stock may face downward pressure in the short term due to the 46% decline in PAT and the substantial contraction in operating margins.
📈 Long termLong-term prospects depend on the successful integration of Domaine Rāsā and the ability to maintain premiumization trends while managing agro-climatic supply chain risks.
⚠ Risk flags
- Significant margin compression
- Agro-climatic risks affecting grape quality/cost
- Softness in the Karnataka market
- High P/E ratio of 55.1 relative to current earnings growth
Key Highlights
Net Revenue from operations grew 3% YoY to ₹112.9 Cr, while PAT declined 46% to ₹1.0 Cr.
Elite & Premium portfolio salience improved by 310 bps YoY to 78% of own-brand revenue.
Wine Tourism revenue increased 12.3% YoY to ₹15.4 Cr, now contributing 13% of total revenue.
Acquired Chandon Estate for ₹20 Cr, adding a 19-acre estate and winery renamed 'Domaine Rāsā'.
Gross Margin dropped 550 bps to 68.5% due to a ~150 bps impact from higher blended grape costs.
👀 What to Watch
Watch for the normalization of gross margins, which management expects to subside by Q4 FY27, and the operational commencement of the new Domaine Rāsā winery in Q4 FY27.
3% Revenue Growth in Q1FY27; Elite & Premium Share Hits 78% as EBITDA Margins Contract
Sula Vineyards reported a modest 3% YoY growth in net revenue to ₹112.9 cr for Q1 FY27, driven by a 12% rise in Wine Tourism (₹15.5 cr). While the Elite & Premium portfolio grew 6% and now constitutes 78% of sales, overall EBITDA fell 9% to ₹16.6 cr. This margin contraction, down 197 bps to 14.7%, was primarily due to a 150 bps impact from higher blended grape costs. Management expects these cost pressures to subside starting Q4 FY27 and normalize by Q1 FY28.
Confidence: HIGH
What changedSula has increased its focus on the Elite & Premium segment (now 78% of revenue) but faced a temporary margin hit due to higher raw material (grape) costs.
Why it mattersThe shift toward premiumization is structurally positive for long-term pricing power, but the current 14.7% EBITDA margin is significantly lower than the FY24 peak of 28.9%, reflecting rising input cost pressures.
Net Revenue (Q1 FY27): ₹112.9 crEBITDA Margin: 14.7%Wine Tourism Revenue: ₹15.5 crElite & Premium Share: 78%Q1 Revenue vs TTM Revenue: 18.94%
📅 Short termThe stock may see neutral to slightly negative sentiment due to the 9% EBITDA decline and margin compression, despite the growth in premium segments.
📈 Long termThe long-term story remains tied to the premiumization of the Indian wine market and the expansion of high-margin wine tourism, though agro-climatic risks to grape supply remain a factor.
⚠ Risk flags
- Higher blended grape costs impacting margins
- Softness in the Karnataka market
- Decline in Economy & Popular portfolio offsetting growth
Key Highlights
Net Revenue from operations grew 3% YoY to ₹112.9 cr in Q1 FY27.
Wine Tourism revenue increased 12% YoY to ₹15.5 cr, supported by the launch of 'The Haven' resort.
Elite & Premium segment share increased by 310 bps YoY to reach 78% of the total portfolio.
EBITDA declined 9% YoY to ₹16.6 cr due to higher wine grape vs. table grape mix costs.
Operating expenses were reduced by 3% YoY to help limit the impact on profitability.
👀 What to Watch
Monitor the recovery in the Karnataka market and the stabilization of grape costs, which management expects to normalize fully by Q1 FY28. Watch for the operational ramp-up of the newly acquired 'Domaine Rāsā' estate.
Sula Vineyards Appoints Rinku More as CFO and Former COO Chaitanya Rathi to Board
Sula Vineyards has formalized the appointment of Ms. Rinku More as Chief Financial Officer (CFO) effective August 6, 2026, following her tenure as CFO Designate since July 15, 2026. Ms. More, a Chartered Accountant with 8 years of experience within Sula, succeeds Abhishek Kapoor. Additionally, the board appointed former COO Chaitanya Rathi as an Additional Non-Executive Non-Independent Director. These leadership changes occur as the company manages a TTM revenue of ₹596 Cr and a debt-to-equity ratio of 0.48.
Confidence: HIGH
What changedSula has completed its CFO succession plan by promoting an internal candidate and brought back a former key executive to the board.
Why it mattersCFO transitions are critical for financial governance and debt management (₹265 Cr debt). Internal promotion suggests a preference for continuity in financial strategy and internal controls.
CFO Total Experience: 11 yearsCFO Tenure at Sula: 8 yearsTTM Revenue: ₹596 CrDebt-to-Equity: 0.48Board Meeting Duration: 56 minutes
📅 Short termThe announcement is likely to be neutral for the stock price as the CFO transition was previously signaled when Ms. More was named CFO Designate in May 2026.
📈 Long termThe return of Chaitanya Rathi to the board provides institutional memory and strategic oversight, while the new CFO's internal grooming ensures stability in financial operations.
⚠ Risk flags
- Management transition risk
- High agro-climatic risks affecting grape yields
Key Highlights
Ms. Rinku More appointed as CFO and Key Managerial Personnel effective August 6, 2026
Ms. More has 8 years of internal experience at Sula and 11 years total in finance and audit
Mr. Chaitanya Rathi, former COO (2019-2023), joins the board as a Non-Executive Director
Shareholder approval for Mr. Rathi's appointment and commission to be sought via postal ballot within 3 months
Company maintains a production capacity of 18.2 million liters with plans to reach 19.2 million by end of FY26
👀 What to Watch
Investors should monitor the transition in the finance department to ensure continuity in financial reporting and margin management (current OPM 17.4%). Watch for any strategic contributions from Mr. Rathi given his history of scaling the business to over ₹500 Cr in revenue.
Sula Q1 FY27: Net Profit drops 45% to ₹1.06 Cr despite marginal revenue growth
Sula Vineyards reported a weak start to FY27, with consolidated net profit declining 45.4% YoY to ₹1.06 Cr. While revenue from operations saw a marginal increase of 2.1% to ₹120.79 Cr, the bottom line was pressured by higher material costs and inventory adjustments. A notable non-operational highlight was the sale of a Mumbai office property for ₹27.00 Cr, contributing a ₹1.79 Cr gain to other income. The company continues to face margin pressure, with quarterly EPS dropping to ₹0.13 from ₹0.23 YoY.
Confidence: HIGH
What changedThe filing represents the first quarter financial results for FY27, showing stagnant revenue growth and significant net profit contraction compared to the same period last year.
Why it mattersAs the market leader with >50% share, Sula's margin compression indicates broader industry challenges including regulatory headwinds and rising input costs, despite a successful asset monetization (office sale).
Revenue (Q1 FY27): ₹120.79 CrNet Profit (Q1 FY27): ₹1.06 CrProperty Sale Value: ₹27.00 CrProperty Sale vs TTM Revenue: 4.53%YoY Profit Growth: -45.4%
📅 Short termThe stock may face downward pressure in the coming days as the market reacts to the sharp decline in net profit and low EPS.
📈 Long termLong-term value depends on the successful execution of the 19.2 million liter capacity expansion and the growth of the high-margin wine tourism segment.
⚠ Risk flags
- Margin compression
- Agro-climatic risks affecting grape quality
- Regulatory changes (Excise duty hikes)
Key Highlights
Consolidated Net Profit fell 45.4% YoY to ₹1.06 Cr in Q1 FY27 from ₹1.94 Cr in Q1 FY26.
Revenue from operations grew marginally by 2.1% YoY to ₹120.79 Cr.
Sold Mumbai office property for ₹27.00 Cr, resulting in a profit of ₹1.79 Cr recognized in other income.
Consolidated EPS declined to ₹0.13 for the quarter, down from ₹0.23 in the previous year's corresponding quarter.
Standalone profit stood at ₹4.06 Cr, significantly aided by the property sale gain, compared to a loss of ₹0.91 Cr YoY.
👀 What to Watch
Investors should monitor the impact of the Maharashtra excise duty hike on volume growth and the progress of the hospitality expansion at 'Haven by Sula' expected in Q4 FY26. The ability to maintain margins through premiumization (currently 78% of portfolio) amidst rising procurement costs is the key metric to watch.
Sula Vineyards Approves ₹2 Final Dividend and FY26 Financials at 23rd AGM
Sula Vineyards successfully concluded its 23rd Annual General Meeting on June 25, 2026, with all resolutions passed by the requisite majority. Shareholders approved a final dividend of ₹2 per equity share (100% of face value) for the financial year ended March 31, 2026. The meeting also saw the adoption of audited standalone and consolidated financial statements for FY26. Additionally, Non-Executive Director Mr. Nicholas Cator retired from the board and did not seek re-appointment.
Key Highlights
Approved a final dividend of ₹2 per equity share (100% of face value) for FY26
Adopted audited standalone and consolidated financial statements for the year ended March 31, 2026
Mr. Nicholas Cator retired as Non-Executive Director and ceased to be a director upon conclusion of the AGM
Shareholders approved the payment of commission to Non-Executive Directors of the company
Total of 74 members attended the meeting virtually, representing a shareholder base of 2,67,899
👀 What to Watch
Investors should monitor the dividend payout timeline as the ₹2 per share distribution is now finalized. The smooth passing of all resolutions and stable board transition reflect healthy corporate governance.
Sula Vineyards Subsidiary Acquires Domaine Chandon India Assets for ₹20 Crore
Sula Vineyards' wholly-owned subsidiary, Artisan Spirits Private Limited (ASPL), has completed the acquisition of identified assets from Moët Hennessy India's Domaine Chandon estate in Nashik. The total consideration for the land, building, and machinery is ₹20 crore, excluding inventory and taxes. ASPL has already paid an initial consideration of ₹14.86 crore and taken possession of the assets as of June 23, 2026. The remaining ₹5 crore is payable within 12 months, alongside payments for acquired inventory.
Key Highlights
Acquisition of Domaine Chandon India estate assets in Dindori, Nashik for an aggregate consideration of ₹20 crore.
Initial payment of ₹14.857 crore completed and Sale Deed registered on June 23, 2026.
Balance consideration of ₹5 crore plus inventory costs to be discharged within 12 months of the closing date.
Strategic location near Sula's existing winery expected to enhance operational efficiency and wine tourism growth.
The transaction is an asset purchase from Moët Hennessy India (part of the LVMH group) and is not a related party transaction.
👀 What to Watch
Investors should view this as a strategic expansion into premium assets that strengthens Sula's dominant position in the Nashik wine region and its high-margin wine tourism segment.
Sula Vineyards faces ₹8.12 Cr GST demand as Appellate Authority upholds tax and penalty order
Sula Vineyards has received an unfavorable Order-in-Appeal from the Commissioner (Appeals), CGST & Central Excise, Nashik, upholding a previous tax demand. The total quantifiable impact is ₹8.12 crore, comprising ₹4.02 crore in tax and ₹4.10 crore in penalties, plus applicable interest for the period FY 2017-18 to FY 2021-22. The dispute centers on a differential GST rate for restaurant services (18% vs 5%) and tax on corporate guarantees. The company intends to challenge this order before the GST Appellate Tribunal (GSTAT).
Key Highlights
Total financial impact of ₹8,11,70,290 confirmed by the Appellate Authority.
The demand includes a tax component of ₹4,01,79,882 and a penalty of ₹4,09,90,408.
The dispute involves the application of an 18% GST rate on restaurant services instead of the 5% paid by the company.
The order also covers GST liability on corporate guarantees issued between FY 2017-18 and FY 2021-22.
Sula Vineyards will file a further appeal with the GST Appellate Tribunal (GSTAT) seeking a favorable outcome.
👀 What to Watch
Investors should monitor the progress of the appeal at GSTAT; while the ₹8.12 crore demand is manageable relative to Sula's balance sheet, the confirmation of penalties at the appellate level is a negative development for short-term sentiment.
Sula Vineyards to Hold 23rd AGM on June 25; Wine Tourism Revenue Crosses ₹100 Cr in FY26
Sula Vineyards has scheduled its 23rd Annual General Meeting for June 25, 2026, following a transitional FY26. While the year faced regional disruptions in Telangana and Karnataka, the company saw a recovery in Q4 with 7% YoY revenue growth. A major milestone was achieved as Wine Tourism revenue crossed ₹100 crore for the first time, supported by a 17% growth in room revenue. The company also improved its premiumization mix, with Elite & Premium wines now accounting for 78.4% of own brand sales.
Key Highlights
Wine Tourism segment crossed the ₹100 crore revenue milestone in FY26 with 4 lakh+ annual visitors.
Elite & Premium wine market share increased to 78.4%, with 'The Source' range growing over 25% YoY.
Net Debt reduced to ₹280 crore as of March 2026, maintaining a Net Debt/EBITDA ratio below 3x.
Hospitality capacity expanded to 154 keys following the launch of 'The Haven' resort and a new tasting room in Bengaluru.
Cash generated from operations increased by 70% YoY to ₹99 crore due to optimized working capital management.
👀 What to Watch
Investors should focus on the management's commentary during the AGM regarding the recovery of 'Own Brands' and the scaling of the new Dindori estate acquisition. The company's shift toward a higher-margin premium mix and debt reduction makes it a strong watch for long-term consumer discretionary portfolios.
Sula Vineyards Appoints Rinku More as CFO Designate; Abhishek Kapoor Resigns
Sula Vineyards has announced a leadership transition where CFO Abhishek Kapoor will resign effective July 14, 2026, to pursue outside opportunities. The board has appointed Rinku More as CFO Designate and Senior Management Personnel, effective July 15, 2026, to ensure leadership continuity. Ms. More is a Chartered Accountant with 11 years of experience, including 8 years specifically within Sula's finance and audit functions. Formal approval for her appointment as a Key Managerial Personnel is expected during the Q2 FY26-27 board meeting.
Key Highlights
CFO Abhishek Kapoor to exit on July 14, 2026, after completing his current term.
Rinku More, an 8-year veteran of the company, named CFO Designate effective July 15, 2026.
Ms. More has 11+ years of experience in finance, audit, and taxation, having handled IPO and M&A activities.
Succession planning initiated via circular resolution to maintain operational continuity.
👀 What to Watch
The internal promotion suggests a smooth transition and stability in financial management. Investors should watch for the formal confirmation of the CFO role in the upcoming Q2 FY27 board meeting.
Sula Vineyards CFO Abhishek Kapoor to Resign in 2026; Rinku More Named CFO Designate
Sula Vineyards has announced a long-term leadership transition where current CFO Abhishek Kapoor will step down on July 14, 2026, to pursue outside opportunities. The Board has proactively appointed Rinku More as CFO Designate, effective July 15, 2026, ensuring a transition period of over 14 months. Ms. More is an internal candidate with 8 years at Sula and 11 years of total experience, having played a key role in the company's IPO and financial automation. This planned succession suggests stability and a focus on continuity in the company's financial management.
Key Highlights
CFO Abhishek Kapoor to resign effective July 14, 2026, after the close of business hours.
Rinku More appointed as CFO Designate and Senior Management Personnel effective July 15, 2026.
Ms. More has been with Sula Vineyards for 8 years and is a Chartered Accountant with 11 years of total experience.
The transition period is notably long, with the announcement made 14 months prior to the effective date.
Ms. More previously handled IPO finance processes, M&A accounting, and statutory audits for the company.
👀 What to Watch
Investors should view this as a well-planned succession that minimizes execution risk. No immediate action is required as the transition is scheduled for mid-2026.
Sula Vineyards Appoints Rinku More as CFO Designate Following Resignation of Abhishek Kapoor
Sula Vineyards has announced a leadership transition in its finance department, with CFO Abhishek Kapoor resigning effective July 14, 2026, to pursue external opportunities. The company has appointed Rinku More, an internal candidate with 8 years of experience at Sula, as the CFO Designate effective July 15, 2026. This move is part of a planned succession strategy to ensure continuity in financial leadership. Ms. More is a Chartered Accountant with over 11 years of total experience across audit, taxation, and financial reporting.
Key Highlights
CFO Abhishek Kapoor to resign from his position effective close of business on July 14, 2026.
Rinku More appointed as CFO Designate and Senior Management Personnel effective July 15, 2026.
Ms. More brings 11+ years of finance experience, including 8 years specifically within Sula Vineyards.
The appointment was approved via Circular Resolution on May 19, 2026, following NRC recommendation.
Formal approval for Ms. More as CFO and KMP is proposed for the Q2 FY 26-27 Board Meeting.
👀 What to Watch
Investors should view this as a routine leadership transition; the internal promotion of a long-term employee suggests stability in financial processes. Monitor the formal confirmation of the appointment in the upcoming Q2 board meeting.
Sula Vineyards Q4 FY26: Revenue Up 7%, Wine Tourism Crosses ₹100 Cr Milestone
Sula Vineyards reported a recovery in Q4 FY26 with revenue growing 7% YoY, driven by a 5% increase in own brands and a robust 17% growth in wine tourism. The premium 'The Source' range was a standout performer, growing 35% in Q4 and now contributing over 10% to total own brand sales. Wine tourism reached a significant milestone, crossing ₹110 crore in total revenue for FY26, supported by a 50% expansion in room capacity to 154 keys. While EBITDA faced pressure from higher grape costs and a high base effect, the company is aggressively expanding through the acquisition of Chandon's 19-acre estate.
Key Highlights
Q4 revenue grew 7% YoY, with elite and premium portfolios delivering double-digit growth.
Wine Tourism revenue crossed ₹110 crore in FY26, with Q4 revenue up 17% and footfalls up 11%.
The Source brand grew 35% in Q4 and 20% for the full year, now representing 10% of own brand sales.
Room capacity increased 50% to 154 keys while maintaining a healthy 70% occupancy rate.
Signed a binding agreement to acquire Chandon's 19-acre estate in Dindori to expand tourism footprint.
👀 What to Watch
Investors should note the strong momentum in the high-margin wine tourism segment and the successful premiumization of the wine portfolio. The stock remains a play on urban discretionary spending and the growing wine culture in India, with key triggers being the integration of the Chandon estate and expansion in UP.
Sula Vineyards Q4 Revenue Up 7% YoY; FY26 PAT Declines 63% Amid Higher Costs
Sula Vineyards reported a recovery in Q4 FY26 with revenue growing 7.1% YoY to INR 142.6 Cr, driven by a 10.6% surge in the Elite & Premium wine segments. However, the full-year FY26 performance was pressured, with PAT falling 63% to INR 25.7 Cr due to higher blended grape costs and the absence of one-time benefits recorded in FY25. Wine Tourism remains a strong growth driver, crossing the INR 100 Cr revenue mark for the first time in FY26. The company is aggressively expanding its hospitality footprint, including the acquisition of Chandon's 19-acre estate in Nashik.
Key Highlights
Q4 FY26 Revenue grew 7.1% YoY to INR 142.6 Cr, while Own Brand revenue rose 5.4% to INR 115.4 Cr.
Elite & Premium portfolio salience improved to 79% in Q4, led by double-digit growth in 'The Source' and 'RASA' brands.
Wine Tourism revenue for FY26 reached INR 72.8 Cr (up 21% YoY), with total visitor footfall exceeding 3.6 lakh annually.
Full-year FY26 PAT stood at INR 25.7 Cr, significantly lower than FY25's INR 70.2 Cr, impacted by a 597 bps drop in gross margins.
Expanded room capacity by 50% to 154 keys and signed an agreement to acquire Chandon's world-class wine estate in Nashik.
👀 What to Watch
Investors should focus on the successful premiumization trend and the robust growth in the high-margin wine tourism business as indicators of long-term value. However, caution is advised regarding near-term margin volatility caused by rising raw material costs and the transition to higher-cost wine grapes.
Sula Vineyards Q4 Revenue Up 7% to INR 142.6 Cr; Wine Tourism Hits Record High
Sula Vineyards reported a 7% YoY revenue growth in Q4FY26, reaching INR 142.6 Cr, signaling a recovery after several tough quarters. Growth was primarily driven by the Elite & Premium portfolio, which grew 11% YoY and now constitutes 79% of the mix. Wine Tourism achieved record Q4 revenue of INR 23.9 Cr, up 17.5% YoY, supported by the launch of its third resort, 'The Haven'. While EBITDA margins contracted slightly to 19.5% due to higher grape costs and a high base effect, the company announced a strategic acquisition of Chandon's 19-acre estate to further expand its tourism footprint.
Key Highlights
Q4 FY26 Revenue grew 7.1% YoY to INR 142.6 Cr, driven by Own Brands and Tourism.
Elite & Premium portfolio share increased by 400 bps YoY to 79% of total sales.
Wine Tourism revenue reached a record INR 23.9 Cr in Q4, with footfalls up 11% YoY.
EBITDA stood at INR 27.8 Cr, impacted by a INR 3 Cr one-off gain in the prior year's base.
Strategic acquisition of Chandon's 19-acre estate in Nashik announced to expand tourism capacity.
👀 What to Watch
Investors should view the return to revenue growth and the continued success of the high-margin wine tourism segment as positive indicators. Monitor the integration of the newly acquired Chandon estate and the stabilization of grape costs for margin improvement in FY27.
Sula Vineyards Recommends ₹2 Final Dividend for FY26; Record Date Set for May 22
Sula Vineyards' Board has recommended a final dividend of ₹2 per equity share for the financial year ended March 31, 2026. This represents a 100% payout on the face value of ₹2, though it is a decrease from the ₹3.6 per share (180%) declared in the previous financial year. The company has fixed May 22, 2026, as the record date to determine shareholder eligibility for the dividend. Additionally, the Board approved the audited financial results for FY26 with an unmodified auditor's opinion.
Key Highlights
Recommended a final dividend of ₹2 per equity share for FY26, down from ₹3.6 in FY25.
Record date for dividend eligibility is fixed as Friday, May 22, 2026.
The 23rd Annual General Meeting (AGM) is scheduled for June 25, 2026.
Statutory auditors issued an unmodified report on both standalone and consolidated financial results.
Dividend payment will be processed within 30 days of shareholder approval at the AGM.
👀 What to Watch
Investors should note the reduction in dividend payout compared to the previous year and review the full financial results for performance trends. To be eligible for the ₹2 dividend, shares must be held before the record date of May 22, 2026.
Sula Vineyards Recommends ₹2 Final Dividend for FY26; Sets Record Date for May 22
Sula Vineyards has recommended a final dividend of ₹2 per equity share (100% of face value) for the financial year ended March 31, 2026. This represents a decrease from the ₹3.6 per share dividend declared in the previous financial year (FY25). The company has fixed May 22, 2026, as the record date to determine shareholder eligibility for this payout. The dividend is subject to approval at the Annual General Meeting scheduled for June 25, 2026.
Key Highlights
Recommended a final dividend of ₹2 per equity share of face value ₹2 each for FY26.
The FY26 dividend payout of 100% is lower than the 180% (₹3.6 per share) paid in FY25.
Record date for dividend eligibility is fixed as Friday, May 22, 2026.
The 23rd Annual General Meeting (AGM) is scheduled to be held on June 25, 2026.
Dividend will be paid within 30 days from the date of approval at the AGM.
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the May 22 record date. However, the reduction in dividend compared to the previous year suggests a need to review the full FY26 earnings for underlying growth trends.
Sula Vineyards Recommends ₹2 Final Dividend for FY26; Results Approved
Sula Vineyards has approved its audited financial results for the fiscal year ended March 31, 2026. The Board has recommended a final dividend of ₹2 per equity share, which is a 100% payout on the face value of ₹2. This dividend is significantly lower than the ₹3.6 per share declared in the previous fiscal year (FY25). The company has fixed May 22, 2026, as the record date for determining shareholder eligibility for the dividend.
Key Highlights
Recommended a final dividend of ₹2 per equity share for the financial year ended March 31, 2026.
Dividend payout decreased from ₹3.6 (180%) in FY25 to ₹2 (100%) in FY26.
Record date for dividend eligibility is set for May 22, 2026.
The 23rd Annual General Meeting (AGM) is scheduled for June 25, 2026.
Statutory auditors issued an unmodified audit report for both standalone and consolidated results.
👀 What to Watch
Investors should examine the full earnings report to understand if the reduced dividend payout is due to lower profits or a shift in capital allocation. Monitor the stock for potential price adjustments as the market reacts to the lower year-on-year yield.
Sula Vineyards to Acquire Chandon's 19-Acre Nashik Estate to Expand Wine Tourism
Sula Vineyards has signed a definitive agreement to acquire Chandon’s 19-acre wine estate in Dindori, Nashik, through its subsidiary Artisan Spirits Private Limited. The acquisition includes a world-class production facility with a 4.5 lakh litre capacity, scalable to 13 lakh litres, along with a premium visitor centre and banquet facility. This strategic move aims to replicate Sula's successful wine tourism model, which currently attracts over 3.5 lakh visitors annually. The transaction is an asset purchase expected to close by the end of Q1 FY27, excluding Chandon brand-related assets.
Key Highlights
Acquisition of a 19-acre premium wine estate and production facility in Dindori, Nashik from Moet Hennessy India.
Current production capacity of 4.5 lakh litres per annum, with scalability up to 13 lakh litres.
Strategic location 20 minutes from Nashik Airport, positioned to benefit from increased connectivity and the upcoming Kumbh Mela.
Includes an ultra-premium visitor centre and 5 acres of vineyards to develop a new landmark destination wine resort.
Deal expected to conclude by Q1 FY27, focusing on asset purchase without brand-related transfers.
👀 What to Watch
Investors should look favorably on this acquisition as it strengthens Sula's dominant 50% market share and expands its high-margin wine tourism business. Monitor the progress of the resort development and its impact on hospitality revenue in FY27.
Sula Vineyards Subsidiary to Acquire Domaine Chandon India Assets for Rs 20 Crore
Sula Vineyards' wholly-owned subsidiary, Artisan Spirits Private Limited, has entered into an agreement to acquire the assets of Domaine Chandon India from Moët Hennessy India (part of the LVMH group). The deal, valued at Rs 20 crore plus inventory costs, includes land, buildings, and machinery located in Dindori, Nashik. This strategic acquisition is situated near Sula's existing operations and is specifically designed to bolster the company's high-growth wine tourism segment. The transaction will be funded through a combination of internal accruals and debt.
Key Highlights
Acquisition of Domaine Chandon India's estate assets for a cash consideration of Rs 20 crore.
Strategic purchase from Moët Hennessy India Private Limited, a subsidiary of the global LVMH group.
Assets include land, buildings, and plant machinery located in the prime wine-growing region of Dindori, Nashik.
The move aims to establish an additional destination for Sula's wine tourism, its strongest growth segment.
Funding will be a mix of internal accruals and debt, with inventory value to be finalized at closing.
👀 What to Watch
Investors should look favorably on this acquisition as it expands Sula's footprint in the high-margin wine tourism sector at a reasonable valuation. Monitor the impact on the company's debt-to-equity ratio and the timeline for the new site's integration into their tourism circuit.
