Sula Vineyards Ltd

Sula Vineyards Ltd

₹ 488 0.05%
22 Jul 12:27 p.m.
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")

  • Market Cap 4,122 Cr.
  • Current Price 488
  • High / Low 700 / 447
  • Stock P/E 43.6
  • Book Value 68.2
  • Dividend Yield 1.74 %
  • ROCE 18.6 %
  • ROE 16.7 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 36.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 64.7%

Cons

  • Stock is trading at 7.13 times its book value
  • Promoter holding has decreased over last quarter: -0.71%
  • Promoter holding is low: 25.5%

* 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.

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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 Mar 2024
159 97 86 116 180 110 108 130 193 117
104 71 62 78 118 79 76 88 127 91
Operating Profit 54 26 24 38 62 32 32 42 67 27
OPM % 34% 27% 28% 33% 35% 29% 30% 32% 35% 23%
1 1 1 1 2 2 2 2 2 4
Interest 5 4 5 5 5 4 5 6 7 6
Depreciation 5 6 6 6 6 6 7 6 7 7
Profit before tax 45 17 15 28 53 22 22 31 55 19
Tax % 25% 29% 26% 24% 25% 26% 25% 25% 25% 28%
34 12 11 21 39 17 16 24 41 14
EPS in Rs 4.32 1.55 1.38 2.60 4.66 1.96 1.94 2.79 4.88 1.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
418 501 387 306 390 493 548
361 423 333 249 283 336 381
Operating Profit 58 78 54 57 107 156 167
OPM % 14% 16% 14% 19% 27% 32% 31%
3 3 0 0 3 5 10
Interest 17 24 31 32 21 19 24
Depreciation 15 19 34 25 22 24 27
Profit before tax 29 38 -12 -0 66 118 127
Tax % 35% 49% -32% 130% 26% 25% 26%
19 20 -8 -1 49 88 95
EPS in Rs 12.59 13.07 -5.42 -0.42 6.22 10.48 11.22
Dividend Payout % 0% 0% 0% 0% 39% 80% 76%
Compounded Sales Growth
10 Years: %
5 Years: 2%
3 Years: 21%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 37%
3 Years: 239%
TTM: 6%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 1%
Return on Equity
10 Years: %
5 Years: 11%
3 Years: 16%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 15 15 15 15 16 17 17
Reserves 310 328 311 312 399 539 558
220 275 357 310 226 192 292
130 143 160 110 116 142 140
Total Liabilities 674 761 843 747 757 890 1,008
276 317 349 318 342 394 417
CWIP 1 2 0 0 1 2 5
Investments 21 26 26 21 27 27 28
376 417 468 409 387 466 558
Total Assets 674 761 843 747 757 890 1,008

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
17 18 35 113 77 81 118
-59 -59 -43 -12 -39 -71 -40
40 30 41 -96 -69 -4 1
Net Cash Flow -2 -11 32 5 -31 6 79

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 126 114 126 131 85 78 107
Inventory Days 328 304 420 752 904 811 777
Days Payable 155 152 217 287 381 376 323
Cash Conversion Cycle 299 265 329 595 608 513 561
Working Capital Days 191 174 223 273 208 181 168
ROCE % 11% 3% 6% 14% 20% 19%

Shareholding Pattern

Numbers in percentages

14 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
27.33% 27.33% 27.27% 26.27% 26.27% 26.18% 25.47%
7.42% 5.86% 6.78% 20.61% 19.69% 13.85% 12.03%
8.86% 11.76% 10.23% 17.52% 19.56% 22.61% 22.23%
56.39% 55.06% 55.73% 35.60% 34.49% 37.36% 40.26%
No. of Shareholders 2,08,1381,51,8801,33,9571,53,1801,62,1092,10,0432,29,880

* 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.

Click on the line-items to see the names of individual entities.

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