Sula Vineyards Limited is a leading Indian wine producer with a broad product range, including premium wines. The company has aggressively expanded its wine tourism business, launching its third resort, "The Haven by Sula," which positions it as a major player in wine tourism. Despite a short-term market disruption in Telangana, Sula shows resilience with mid-single-digit revenue growth outside this region.

Sula's gross margins have been impacted by various factors, including high-cost inventory and market mix changes. However, the company anticipates improved EBITDA margins in the second half of FY '26, leveraging lower-cost inventory and strong wine tourism growth.

The company is pioneering trends in the Indian wine market with new product launches, such as the premium low alcohol Muscat Blanc, and by expanding its successful 'The Source' range across key markets. These initiatives are expected to drive future growth and market share gains.

Sula's strategic focus on sustainability, with significant solar energy installations and plans for battery storage, demonstrates its commitment to ESG principles. This focus helps meet over 60% of its annual energy requirements sustainably.