Sula Vineyards Ltd

Sula Vineyards Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sula Vineyards Ltd

₹ 554 -1.00%
19 Apr - close price
sulavineyards.com BSE: 543711 NSE : SULA
About

Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the "category creator" of wine in India.[1]

Key Points

Business segments[1]
i) The production of wine, the import of wines and spirits, and the distribution of wines and spirits (the "Wine Business");
ii) The sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (the "Wine Tourism Business")

Website BSE NSE
  • Market Cap ₹ 4,674 Cr.
  • Current Price ₹ 554
  • High / Low ₹ 700 / 376
  • Stock P/E 47.9
  • Book Value ₹ 65.5
  • Dividend Yield 0.95 %
  • ROCE 19.9 %
  • ROE 18.3 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 36.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 39.4%
  • Debtor days have improved from 97.8 to 77.6 days.

Cons

  • Stock is trading at 8.45 times its book value
  • The company has delivered a poor sales growth of 3.34% over past five years.
  • Promoter holding is low: 26.3%
  • Company has a low return on equity of 12.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Alcoholic Beverages Industry: Breweries & Distilleries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
159 97 86 116 180 110 108 130 193
104 71 62 78 118 79 76 88 127
Operating Profit 54 26 24 38 62 32 32 42 67
OPM % 34% 27% 28% 33% 35% 29% 30% 32% 35%
1 1 1 1 2 2 2 2 2
Interest 5 4 5 5 5 4 5 6 7
Depreciation 5 6 6 6 6 6 7 6 7
Profit before tax 45 17 15 28 53 22 22 31 55
Tax % 25% 29% 26% 24% 25% 26% 25% 25% 25%
34 12 11 21 39 17 16 24 41
EPS in Rs 4.32 1.55 1.38 2.60 4.66 1.96 1.94 2.79 4.88
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
418 501 387 306 390 493 541
361 423 333 249 283 336 369
Operating Profit 58 78 54 57 107 156 172
OPM % 14% 16% 14% 19% 27% 32% 32%
3 3 0 0 3 5 7
Interest 17 24 31 32 21 19 22
Depreciation 15 19 34 25 22 24 26
Profit before tax 29 38 -12 -0 66 118 131
Tax % 35% 49% 32% -130% 26% 25%
19 20 -8 -1 49 88 98
EPS in Rs 12.59 13.07 -5.42 -0.42 6.22 10.48 11.57
Dividend Payout % 0% 0% 0% 0% 39% 80%
Compounded Sales Growth
10 Years: %
5 Years: 3%
3 Years: 8%
TTM: 13%
Compounded Profit Growth
10 Years: %
5 Years: 37%
3 Years: 158%
TTM: 16%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 45%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 12%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 15 15 15 15 16 17 17
Reserves 310 328 311 312 399 539 536
220 275 357 310 226 192 258
130 143 160 110 116 142 91
Total Liabilities 674 761 843 747 757 890 902
276 317 349 318 342 394 396
CWIP 1 2 0 0 1 2 2
Investments 21 26 26 21 27 27 28
376 417 468 409 387 466 476
Total Assets 674 761 843 747 757 890 902

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
17 18 35 113 77 79
-59 -59 -43 -12 -39 -69
40 30 41 -96 -69 -4
Net Cash Flow -2 -11 32 5 -31 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 126 114 126 131 85 78
Inventory Days 328 304 420 752 904 811
Days Payable 155 152 217 287 381 376
Cash Conversion Cycle 299 265 329 595 608 513
Working Capital Days 191 174 223 273 208 181
ROCE % 11% 3% 6% 14% 20%

Shareholding Pattern

Numbers in percentages

14 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
27.33% 27.33% 27.27% 26.27% 26.27% 26.18%
7.42% 5.86% 6.78% 20.61% 19.69% 13.85%
8.86% 11.76% 10.23% 17.52% 19.56% 22.61%
56.39% 55.06% 55.73% 35.60% 34.49% 37.36%
No. of Shareholders 2,08,1381,51,8801,33,9571,53,1801,62,1092,10,043

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls