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Bearish
5
Neutral
7
Bullish
2
Bearish
29
Neutral
7
Bullish
10
Bearish
24
Neutral
0
Bullish
8
Discovery themes featuring this stock
Sula Vineyards Limited manufactures, markets and sells premium wines and operates wine tourism assets including vineyard resorts, tasting rooms and D2C channels, with additional activities in import and distribution of international labels and a minority of alco-bev adjacent businesses.
Q3 and 9M FY26 revenue softened materially with Revenue from Operations at INR195.7 crore in Q3 (down 9.7% YoY) and Operating EBITDA for Q3 at INR32.0 crore (down 39.8% YoY), driven largely by a one-time tactical destocking in Karnataka that removed ~INR21 crore of revenue in the quarter.
Wine Tourism is a major growth engine and margin diversifier: Q3 Wine Tourism revenue grew 34% YoY to INR22.0 crore, contributing 11% of total revenue in Q3, supported by a record footfall (+17% YoY), the launch of The Haven resort and plans to prioritise tourism capex over the next two years.
The premium portfolio and The Source brand are performing well: Elite and Premium brands remain ~80% of mix, The Source range crossed a double-digit share within Own Brands and delivered strong double-digit growth, underlining Sula’s market leadership in domestic premium wines and the strategic focus on higher-margin SKUs.
Management is cautiously optimistic on recovery into Q4 and FY27, expecting Own Brands to normalize after the Karnataka destocking, moderation in capex to INR20-25 crore annually from FY26-FY27, and an improving margin trajectory supported by tourism scale-up and inventory normalization.
Beverages
Breweries & Distilleries
1,326 Cr
High Risk
51.7
55.4
1.1
2.3
310.00
138.55
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stockSula Vineyards Ltd (SULA) is currently trading at 157.00 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Sula Vineyards Limited manufactures, markets and sells premium wines and operates wine tourism assets including vineyard resorts, tasting rooms and D2C channels, with additional activities in import and distribution of international labels and a minority of alco-bev adjacent businesses. Q3 and 9M FY26 revenue softened materially with Revenue from Operations at INR195.7 crore in Q3 (down 9.7% YoY) and Operating EBITDA for Q3 at INR32.0 crore (down 39.8% YoY), driven largely by a one-time tactical destocking in Karnataka that removed ~INR21 crore of revenue in the quarter. Wine Tourism is a major growth engine and margin diversifier: Q3 Wine Tourism revenue grew 34% YoY to INR22.0 crore, contributing 11% of total revenue in Q3, supported by a record footfall (+17% YoY), the launch of The Haven resort and plans to prioritise tourism capex over the next two years. The premium portfolio and The Source brand are performing well: Elite and Premium brands remain ~80% of mix, The Source range crossed a double-digit share within Own Brands and delivered strong double-digit growth, underlining Sula’s market leadership in domestic premium wines and the strategic focus on higher-margin SKUs. Management is cautiously optimistic on recovery into Q4 and FY27, expecting Own Brands to normalize after the Karnataka destocking, moderation in capex to INR20-25 crore annually from FY26-FY27, and an improving margin trajectory supported by tourism scale-up and inventory normalization.
Over the past 52 weeks, Sula Vineyards Ltd has traded between a low of ₹138.55 and a high of ₹310.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Sula Vineyards Ltd has a market capitalization of approximately 1,325.82. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Sula Vineyards Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 51.67 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 1,325.82 Cr, Sula Vineyards Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Sula Vineyards Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Sula Vineyards Ltd is 51.67. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Revenue from operations was ₹139.66 crore (-1.1% YoY), EBITDA was ₹25.50 crore (-24.3% YoY), and net profit was ₹6.02 crore (-58.4% YoY).
Consolidated net profit fell 33.31% to ₹8.69 crore, while consolidated total income rose 7.51% to ₹144.17 crore for the quarter ended March 31, 2026.
Sula Vineyards acquired Chandon's 19-acre wine estate in Dindori, Nashik, for ₹20 crore. The deal includes a production facility, a visitor centre, banquet facilities, and 5 acres of vineyards.
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
919.70 | 2,102 Cr | 16.18 | 1.95 | 0.98 | 14.54 | 19.08 | — | ||
842.55 | 1,693 Cr | 19.14 | 2.44 | 0.24 | 12.73 | 16.31 | 10.34 | ||
75.36 | 1,567 Cr | 153.00 | 2.01 | 0.00 | 1.90 | 5.32 | 0.71 | ||
157.00 | 1,326 Cr | 51.67 | 2.26 | 1.27 | 4.37 | 7.22 | 2.34 | ||
37.26 | 1,097 Cr | 9.54 | 1.21 | 0.94 | 12.64 | 13.51 | 7.67 | ||
903.50 | 846 Cr | 14.98 | 1.26 | 0.00 | 8.39 | 11.15 | 6.47 | ||
140.00 | 650 Cr | 65.64 | 10.31 | 0.00 | 15.69 | 10.13 | 1.38 | ||
| Median: 7 Co. | — | 157.00 | 1,326 Cr | 19.14 | 2.01 | 0.24 | 12.64 | 11.15 | 4.41 |
Tax Appeal Outcome
Appellate authority (Commissioner Appeals, CGST Nashik) rejected Sula Vineyards' appeal and upheld a CGST Order confirming GST demand for FY2017‑18 to FY2021‑22, with tax exposure ~₹4.02 crore plus penalty ~₹4.10 crore; company will appeal to GSTAT.
GST appeal rejection
Sula Vineyards received an Order‑in‑Appeal (29 May 2026) upholding a 23 Dec 2024 CGST Order confirming tax, interest and penalty for FY2017‑18 to FY2021‑22; tax liability Rs.4.02 crore (excl. interest/penalty) and penalty Rs.4.10 crore; company to appeal to GSTAT.
