Sula Vineyards Ltd

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

Sula Vineyards Ltd

₹ 149 -1.56%
14 Jul - 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) 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 ₹ 1,255 Cr.
  • Current Price ₹ 149
  • High / Low ₹ 308 / 139
  • Stock P/E 46.4
  • Book Value ₹ 69.6
  • Dividend Yield 1.35 %
  • ROCE 7.55 %
  • ROE 4.61 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 62.0%

Cons

  • The company has delivered a poor sales growth of 7.57% over past five years.
  • Promoter holding is low: 24.6%
  • Company has a low return on equity of 11.2% over last 3 years.
  • Company has high debtors of 156 days.
  • Working capital days have increased from 67.9 days to 101 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
113.38 108.49 133.69 203.04 122.52 120.93 132.36 200.15 125.71 109.64 130.91 180.39 134.91
82.56 78.14 89.49 131.19 93.06 86.97 98.76 147.10 97.25 91.34 105.45 148.44 107.17
Operating Profit 30.82 30.35 44.20 71.85 29.46 33.96 33.60 53.05 28.46 18.30 25.46 31.95 27.74
OPM % 27.18% 27.97% 33.06% 35.39% 24.05% 28.08% 25.39% 26.51% 22.64% 16.69% 19.45% 17.71% 20.56%
0.91 1.57 0.89 1.40 3.85 1.26 0.76 0.90 1.01 0.98 0.83 -0.79 1.49
Interest 4.84 5.32 6.52 8.09 6.24 7.10 7.59 7.81 7.17 7.51 8.55 8.19 7.14
Depreciation 6.81 7.56 7.61 8.11 8.35 8.63 8.69 8.93 8.74 9.21 9.47 10.41 10.08
Profit before tax 20.08 19.04 30.96 57.05 18.72 19.49 18.08 37.21 13.56 2.56 8.27 12.56 12.01
Tax % 29.08% 28.15% 25.42% 24.66% 27.62% 24.94% 19.91% 24.59% 3.91% 24.22% 27.21% 27.55% 28.39%
14.24 13.68 23.09 42.98 13.55 14.63 14.48 28.06 13.03 1.94 6.02 9.10 8.60
EPS in Rs 1.69 1.62 2.74 5.09 1.61 1.73 1.72 3.32 1.54 0.23 0.71 1.08 1.02
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
485 386 424 516 568 579 556
432 322 311 358 392 430 452
Operating Profit 53 64 113 158 176 149 104
OPM % 11% 17% 27% 31% 31% 26% 19%
-2 -2 3 3 8 4 2
Interest 33 33 23 21 26 30 31
Depreciation 35 26 24 26 32 35 39
Profit before tax -17 3 70 114 126 88 35
Tax % -8% 5% 25% 26% 26% 21% 28%
-16 3 52 84 93 70 26
EPS in Rs -10.42 1.98 6.63 9.98 11.06 8.32 3.04
Dividend Payout % 0% 126% 36% 84% 77% 43% 66%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 2%
TTM: -4%
Compounded Profit Growth
10 Years: %
5 Years: 32%
3 Years: -32%
TTM: -61%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -32%
1 Year: -50%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 11%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 15 15 16 17 17 17 17
Reserves 285 290 380 515 533 569 571
393 315 240 203 324 315 333
138 132 123 147 152 174 169
Total Liabilities 831 752 759 881 1,026 1,076 1,089
355 318 361 413 454 495 512
CWIP 0 0 1 2 5 6 1
Investments 0 0 0 0 0 0 0
476 434 396 466 567 575 576
Total Assets 831 752 759 881 1,026 1,076 1,089

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
45 120 87 90 121 58 101
-44 -22 -57 -74 -43 -75 -33
33 -94 -61 -9 2 -74 -67
Net Cash Flow 34 3 -31 6 81 -90 -0
Free Cash Flow 1 104 42 21 63 -7 69
CFO/OP 106% 175% 92% 74% 88% 53% 103%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 114 117 94 81 109 148 156
Inventory Days 334 404 764 775 924 877 609
Days Payable 161 164 318 356 390 374 290
Cash Conversion Cycle 287 357 541 501 643 651 474
Working Capital Days -2 3 52 85 8 95 101
ROCE % 6% 15% 20% 19% 13% 8%

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

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
27.27% 26.27% 26.27% 26.18% 25.47% 24.66% 24.66% 24.66% 24.35% 24.35% 24.35% 24.55%
6.78% 20.61% 19.69% 13.85% 12.03% 10.60% 9.61% 7.97% 6.68% 4.05% 1.65% 1.11%
10.23% 17.52% 19.56% 22.61% 22.23% 21.68% 19.89% 18.26% 18.25% 18.01% 17.78% 17.30%
55.73% 35.60% 34.49% 37.36% 40.26% 43.04% 45.84% 49.11% 50.71% 53.58% 56.22% 57.03%
No. of Shareholders 1,33,9571,53,1801,62,1092,10,0432,29,8802,38,8982,47,6952,61,8982,66,4142,73,1462,69,3312,61,232

* 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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