Sula Vineyards Q4 profit falls 34% to despite record wine tourism revenue; declares dividend

Wine producer Sula Vineyards Ltd on Wednesday (May 6) reported a 34.1% year-on-year decline in net profit for the fourth quarter at ₹8.6 crore, compared with ₹13.03 crore in the same period last year.Revenue for the quarter rose 7.1% to ₹142.6 crore from ₹120.5 crore a year earlier, driven by improved traction in its own brands and double-digit growth in the wine tourism business.

EBITDA declined 2.6% to ₹28 crore in Q4, compared with ₹29 crore in the corresponding quarter last year. EBITDA margin stood at 19.5%, compared with 21.4% in the same period last year.Also Read: Sula Vineyards to acquire Chandon’s 19-acre wine estate in Nashik to expand wine tourism

Sales in the Elite and Premium portfolio rose 11% year-on-year during the quarter, led by double-digit growth in The Source and RASA. The Elite and Premium portfolio contributed 79% of sales in Q4FY26, up 400 basis points from a year earlier.
Wine tourism revenue rose 17% year-on-year to a record ₹23.9 crore in Q4FY26. The growth was supported by an 11% increase in footfalls and a 22% rise in room revenue following the launch of its third resort, The Haven by Sula.EBITDA was marginally lower year-on-year, impacted by higher blended grape costs due to a higher mix of wine grapes compared with table grapes. The base quarter also included a one-time gain of ₹3 crore related to the catch-up impact of pricing on closing inventory in Karnataka.

Also Read: Sula Vineyards eyes entry into premium spirits market via acquisition: Sources

Sula Vineyards Ltd has recommended a final dividend of ₹2 per equity share of face value ₹2 each for the financial year ended March 31, 2026, equivalent to 100%. This compares with a dividend of ₹3.6 per equity share, or 180%, declared for the previous financial year ended March 31, 2025.

Rajeev Samant, CEO of Sula Vineyards, said, “I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to growth with revenue up 7% YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism.

Within Own Brands, our Elite & Premium portfolio continued to lead the mix, anchored by strong double-digit growth in The Source and RASA. Regionally, Telangana, Uttar Pradesh, and Kerala delivered robust growth, while our two largest markets – Maharashtra and Karnataka – are seeing a progressively improving trend.”

Also Read: Sula Vineyards reports stable Q2 revenue, wine tourism hits record high

Shares of Sula Vineyards Ltd ended at ₹173.10, up by ₹2.30, or 1.35%, on the BSE.