Sula Vineyards Ltd

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

Sula Vineyards Ltd

₹ 166 1.90%
05 Aug 9:22 a.m.
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) Production of wine, import and distribution of wines and spirits
ii) Sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms

Website BSE NSE
  • Market Cap ₹ 1,402 Cr.
  • Current Price ₹ 166
  • High / Low ₹ 297 / 139
  • Stock P/E 217
  • Book Value ₹ 65.5
  • Dividend Yield 1.21 %
  • ROCE 5.02 %
  • ROE 1.14 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 237%

Cons

  • Stock is trading at 2.53 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.60% over past five years.
  • Promoter holding is low: 24.6%
  • Company has a low return on equity of 7.89% over last 3 years.
  • Company has high debtors of 158 days.
  • Working capital days have increased from 62.6 days to 90.9 days

* 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Beverages Breweries & Distilleries

Part of BSE 1000 BSE Fast Moving Consumer Goods

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
110.50 107.56 129.58 193.49 117.49 118.35 115.23 165.07 89.80 91.08 111.90 154.91 104.17
78.99 75.74 87.56 126.57 90.76 87.19 93.82 130.37 81.53 80.26 94.06 132.94 89.41
Operating Profit 31.51 31.82 42.02 66.92 26.73 31.16 21.41 34.70 8.27 10.82 17.84 21.97 14.76
OPM % 28.52% 29.58% 32.43% 34.59% 22.75% 26.33% 18.58% 21.02% 9.21% 11.88% 15.94% 14.18% 14.17%
1.61 1.72 1.78 2.23 4.34 1.70 1.65 1.72 1.78 1.79 1.29 1.20 -6.13
Interest 4.45 5.01 5.95 7.06 5.57 6.34 6.66 6.71 5.86 6.18 7.17 6.57 5.74
Depreciation 6.28 6.79 6.45 6.87 6.70 7.09 7.21 7.46 7.16 7.53 7.56 7.66 7.42
Profit before tax 22.39 21.74 31.40 55.22 18.80 19.43 9.19 22.25 -2.97 -1.10 4.40 8.94 -4.53
Tax % 26.08% 24.66% 25.06% 25.48% 27.50% 25.01% 19.59% 26.61% 64.65% -17.27% 28.41% 25.95% 27.15%
16.55 16.38 23.53 41.15 13.63 14.57 7.39 16.33 -4.89 -0.91 3.15 6.62 -5.76
EPS in Rs 1.96 1.94 2.79 4.88 1.62 1.73 0.88 1.93 -0.58 -0.11 0.37 0.78 -0.68
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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 Mar 2024 Mar 2025 Mar 2026
418 501 387 306 390 493 548 488 462
361 423 333 249 283 336 381 393 396
Operating Profit 58 78 54 57 107 156 167 96 66
OPM % 14% 16% 14% 19% 27% 32% 31% 20% 14%
3 3 0 0 3 5 10 7 -2
Interest 17 24 31 32 21 19 24 26 26
Depreciation 15 19 34 25 22 24 27 29 30
Profit before tax 29 38 -12 -0 66 118 127 48 8
Tax % 35% 49% -32% 130% 26% 25% 26% 30% 60%
19 20 -8 -1 49 88 95 33 3
EPS in Rs 12.59 13.07 -5.42 -0.42 6.22 10.48 11.22 3.96 0.37
Dividend Payout % 0% 0% 0% 0% 39% 80% 76% 91% 545%
Compounded Sales Growth
10 Years: %
5 Years: 9%
3 Years: -2%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: 22%
3 Years: -58%
TTM: -81%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -30%
1 Year: -42%
Return on Equity
10 Years: %
5 Years: 11%
3 Years: 8%
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 15 15 15 15 16 17 17 17 17
Reserves 311 329 311 313 399 539 558 558 536
220 275 357 310 226 192 292 269 265
128 142 160 109 116 142 140 150 145
Total Liabilities 674 761 843 747 757 890 1,008 994 964
276 317 349 318 342 394 417 438 429
CWIP 1 2 0 0 1 2 5 4 0
Investments 21 26 26 21 27 27 28 41 47
376 417 468 409 387 466 558 510 487
Total Assets 674 761 843 747 757 890 1,008 994 964

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
17 18 35 113 77 81 113 64 73
-59 -59 -43 -12 -39 -71 -35 -69 -15
40 30 41 -96 -69 -4 1 -86 -56
Net Cash Flow -2 -11 32 5 -31 6 79 -91 1
Free Cash Flow -27 -39 -9 97 37 13 58 15 51
CFO/OP 37% 43% 85% 187% 88% 69% 88% 82% 108%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 126 114 126 131 85 78 107 139 158
Inventory Days 328 304 420 752 904 811 777 810 606
Days Payable 155 152 217 287 381 376 323 332 269
Cash Conversion Cycle 299 265 329 595 608 513 561 616 494
Working Capital Days 191 26 -21 -15 38 78 9 88 91
ROCE % 11% 3% 6% 14% 20% 19% 9% 5%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Contracted Vineyard Acreage
Acres

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Elite & Premium Portfolio Mix (Own Brands Revenue)
Percentage of Own Brands
Wine Tourism Footfalls
Visitors (Lakhs)
Winery Installed Capacity
Million Litres
Average Room Occupancy
Percentage
Average Room Revenue (ARR)
INR
Distribution Points of Sale (POS)
Number of POS
Wine Tourism Resort Room Keys
Number of Keys

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
26.27% 26.27% 26.18% 25.47% 24.66% 24.66% 24.66% 24.35% 24.35% 24.35% 24.55% 24.62%
20.61% 19.69% 13.85% 12.03% 10.60% 9.61% 7.97% 6.68% 4.05% 1.65% 1.11% 0.68%
17.52% 19.56% 22.61% 22.23% 21.68% 19.89% 18.26% 18.25% 18.01% 17.78% 17.30% 16.22%
35.60% 34.49% 37.36% 40.26% 43.04% 45.84% 49.11% 50.71% 53.58% 56.22% 57.03% 58.48%
No. of Shareholders 1,53,1801,62,1092,10,0432,29,8802,38,8982,47,6952,61,8982,66,4142,73,1462,69,3312,61,2322,62,927

* 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

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