Sula Vineyards Ltd

Sula Vineyards Ltd

₹ 498 -0.08%
16 Jul - close price
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 4,205 Cr.
  • Current Price 498
  • High / Low 700 / 447
  • Stock P/E 45.3
  • Book Value 65.2
  • Dividend Yield 1.71 %
  • ROCE 18.8 %
  • ROE 17.2 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 65.6%

Cons

  • Stock is trading at 7.65 times its book value
  • Promoter holding is low: 26.2%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
171 106 92 120 191 113 108 134 203 123
115 78 67 83 127 83 78 89 131 93
Operating Profit 56 29 25 37 64 31 30 44 72 29
OPM % 33% 27% 27% 31% 34% 27% 28% 33% 35% 24%
1 1 1 1 1 1 2 1 1 4
Interest 6 5 5 5 6 5 5 7 8 6
Depreciation 6 6 6 6 6 7 8 8 8 8
Profit before tax 45 19 15 26 53 20 19 31 57 19
Tax % 25% 27% 26% 26% 25% 29% 28% 25% 25% 28%
34 14 11 19 39 14 14 23 43 14
EPS in Rs 4.37 1.73 1.35 2.39 4.67 1.69 1.62 2.74 5.09 1.61
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
485 386 424 516 568
432 322 311 358 392
Operating Profit 53 64 113 158 176
OPM % 11% 17% 27% 31% 31%
-2 -2 3 3 8
Interest 33 33 23 21 26
Depreciation 35 26 24 26 32
Profit before tax -17 3 70 114 126
Tax % 8% 5% 25% 26% 26%
-16 3 52 84 93
EPS in Rs -10.42 1.98 6.63 9.98 11.06
Dividend Payout % 0% 126% 36% 84% 77%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 14%
TTM: 10%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 140%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 5%
Return on Equity
10 Years: %
5 Years: %
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 15 15 16 17 17
Reserves 284 289 379 515 533
393 315 240 203 324
139 132 124 147 152
Total Liabilities 831 752 759 881 1,026
355 318 361 413 454
CWIP 0 0 1 2 5
Investments 0 0 0 0 0
476 434 396 466 567
Total Assets 831 752 759 881 1,026

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
45 120 87 90 121
-44 -22 -57 -74 -43
33 -94 -61 -9 2
Net Cash Flow 34 3 -31 6 81

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 114 117 94 81 109
Inventory Days 334 404 764 775 924
Days Payable 161 164 318 356 390
Cash Conversion Cycle 287 357 541 501 643
Working Capital Days 220 236 212 185 171
ROCE % 6% 15% 20% 19%

Shareholding Pattern

Numbers in percentages

12 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.

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

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