About
Sula Vineyards Limited manufactures, purchases, and sells wine and other alcoholic beverages in India and internationally. It offers white, red, rosé, and sparkling wines; and spirits under the RASA, The Source, Dindori, SULA CLASSICS, and York brands. The company also owns and operates wine tourism venues, including vineyard resorts and tasting rooms, as well as restaurants. It sells its products through distributors, corporations, licensed resellers, company depots, defense units, and other points of sale, as well as direct-to-consumer and online channel. The company was founded in 1996 and is headquartered in Nashik, India.
Key Metrics
as of Sep 2026Market Cap1,259 Cr
P/E48.60
Div Yield1.34 %
Book Value₹69.60
52w High₹297.00
52w Low₹139.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 99.06 | 104.17 | 154.91 | 111.90 | 91.08 | 89.80 | 165.07 | 115.23 | 118.35 | 117.49 | 193.49 | 129.58 | 107.56 |
| Expenses | 83.39 | 89.41 | 132.94 | 94.06 | 80.26 | 81.53 | 130.37 | 93.82 | 87.19 | 90.76 | 126.57 | 87.56 | 75.74 |
| Operating Profit | 15.67 | 14.76 | 21.97 | 17.84 | 10.82 | 8.27 | 34.70 | 21.41 | 31.16 | 26.73 | 66.92 | 42.02 | 31.82 |
| OPM % | 15.82 | 14.17 | 14.18 | 15.94 | 11.88 | 9.21 | 21.02 | 18.58 | 26.33 | 22.75 | 34.59 | 32.43 | 29.58 |
| Other Income | 2.64 | -6.13 | 1.20 | 1.29 | 1.79 | 1.78 | 1.72 | 1.65 | 1.70 | 4.34 | 2.23 | 1.78 | 1.72 |
| Depreciation | 7.53 | 7.42 | 7.66 | 7.56 | 7.53 | 7.16 | 7.46 | 7.21 | 7.09 | 6.70 | 6.87 | 6.45 | 6.79 |
| Interest | 5.41 | 5.74 | 6.57 | 7.17 | 6.18 | 5.86 | 6.71 | 6.66 | 6.34 | 5.57 | 7.06 | 5.95 | 5.01 |
| Profit before tax | 5.37 | -4.53 | 8.94 | 4.40 | -1.10 | -2.97 | 22.25 | 9.19 | 19.43 | 18.80 | 55.22 | 31.40 | 21.74 |
| Tax % | 24.39 | 27.15 | 25.95 | 28.41 | -17.27 | 64.65 | 26.61 | 19.59 | 25.01 | 27.50 | 25.48 | 25.06 | 24.66 |
| Net Profit | 4.06 | -5.76 | 6.62 | 3.15 | -0.91 | -4.89 | 16.33 | 7.39 | 14.57 | 13.63 | 41.15 | 23.53 | 16.38 |
| EPS in Rs | 0.48 | -0.68 | 0.78 | 0.37 | -0.11 | -0.58 | 1.93 | 0.88 | 1.73 | 1.62 | 4.88 | 2.79 | 1.94 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 462.00 | 488.00 | 548.00 | 493.00 | 390.00 | 306.00 | 387.00 | 501.00 | 418.00 |
| Expenses | 396.00 | 393.00 | 381.00 | 336.00 | 283.00 | 249.00 | 333.00 | 423.00 | 361.00 |
| Operating Profit | 66.00 | 96.00 | 167.00 | 156.00 | 107.00 | 57.00 | 54.00 | 78.00 | 58.00 |
| OPM % | 14.00 | 20.00 | 31.00 | 32.00 | 27.00 | 19.00 | 14.00 | 16.00 | 14.00 |
| Other Income | -2.00 | 7.00 | 10.00 | 5.00 | 3.00 | 0.00 | 0.00 | 3.00 | 3.00 |
| Interest | 26.00 | 26.00 | 24.00 | 19.00 | 21.00 | 32.00 | 31.00 | 24.00 | 17.00 |
| Depreciation | 30.00 | 29.00 | 27.00 | 24.00 | 22.00 | 25.00 | 34.00 | 19.00 | 15.00 |
| Profit before tax | 8.00 | 48.00 | 127.00 | 118.00 | 66.00 | 0.00 | -12.00 | 38.00 | 29.00 |
| Tax % | 60.00 | 30.00 | 26.00 | 25.00 | 26.00 | 130.00 | -32.00 | 49.00 | 35.00 |
| Net Profit | 3.00 | 33.00 | 95.00 | 88.00 | 49.00 | -1.00 | -8.00 | 20.00 | 19.00 |
| EPS in Rs | 0.37 | 3.96 | 11.22 | 10.48 | 6.22 | -0.42 | -5.42 | 13.07 | 12.59 |
| Dividend Payout % | 545.00 | 91.00 | 76.00 | 80.00 | 39.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17.00 | 17.00 | 17.00 | 17.00 | 16.00 | 15.00 | 15.00 | 15.00 | 15.00 |
| Reserves | 536.00 | 558.00 | 558.00 | 539.00 | 399.00 | 313.00 | 311.00 | 329.00 | 311.00 |
| Borrowings | 265.00 | 269.00 | 292.00 | 192.00 | 226.00 | 310.00 | 357.00 | 275.00 | 220.00 |
| Other Liabilities | 145.00 | 150.00 | 140.00 | 142.00 | 116.00 | 109.00 | 160.00 | 142.00 | 128.00 |
| Total Liabilities | 964.00 | 994.00 | 1,008.00 | 890.00 | 757.00 | 747.00 | 843.00 | 761.00 | 674.00 |
| Fixed Assets | 429.00 | 438.00 | 417.00 | 394.00 | 342.00 | 318.00 | 349.00 | 317.00 | 276.00 |
| CWIP | 0.00 | 4.00 | 5.00 | 2.00 | 1.00 | 0.00 | 0.00 | 2.00 | 1.00 |
| Investments | 47.00 | 41.00 | 28.00 | 27.00 | 27.00 | 21.00 | 26.00 | 26.00 | 21.00 |
| Other Assets | 487.00 | 510.00 | 558.00 | 466.00 | 387.00 | 409.00 | 468.00 | 417.00 | 376.00 |
| Total Assets | 964.00 | 994.00 | 1,008.00 | 890.00 | 757.00 | 747.00 | 843.00 | 761.00 | 674.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 73.00 | 64.00 | 113.00 | 81.00 | 77.00 | 113.00 | 35.00 | 18.00 | 17.00 |
| Cash from Investing Activity | -15.00 | -69.00 | -35.00 | -71.00 | -39.00 | -12.00 | -43.00 | -59.00 | -59.00 |
| Cash from Financing Activity | -56.00 | -86.00 | 1.00 | -4.00 | -69.00 | -96.00 | 41.00 | 30.00 | 40.00 |
| Net Cash Flow | 1.00 | -91.00 | 79.00 | 6.00 | -31.00 | 5.00 | 32.00 | -11.00 | -2.00 |
| Free Cash Flow | 51.00 | 15.00 | 58.00 | 13.00 | 37.00 | 97.00 | -9.00 | -39.00 | -27.00 |
| CFO/OP % | 108.00 | 82.00 | 88.00 | 69.00 | 88.00 | 187.00 | 85.00 | 43.00 | 37.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 158.00 | 139.00 | 107.00 | 78.00 | 85.00 | 131.00 | 126.00 | 114.00 | 126.00 |
| Inventory Days | 606.00 | 810.00 | 777.00 | 811.00 | 904.00 | 752.00 | 420.00 | 304.00 | 328.00 |
| Days Payable | 269.00 | 332.00 | 323.00 | 376.00 | 381.00 | 287.00 | 217.00 | 152.00 | 155.00 |
| Cash Conversion Cycle | 494.00 | 616.00 | 561.00 | 513.00 | 608.00 | 595.00 | 329.00 | 265.00 | 299.00 |
| Working Capital Days | 91.00 | 88.00 | 9.00 | 78.00 | 38.00 | -15.00 | -21.00 | 26.00 | 191.00 |
| ROCE % | 5.00 | 9.00 | 19.00 | 20.00 | 14.00 | 6.00 | 3.00 | 11.00 | — |
Corporate Actions
5 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 22 May 2026 | 22 May 2026 | — | 2.00 | |
| Dividend | 23 May 2025 | 23 May 2025 | — | 3.60 | |
| Dividend | 22 May 2024 | 22 May 2024 | — | 4.50 | |
| Dividend | 21 Feb 2024 | 21 Feb 2024 | — | 4.00 | |
| Dividend | 15 May 2023 | 15 May 2023 | — | 5.25 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update19 Nov 2025 from icra
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Rating update7 May 2025 from crisil
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Rating update10 Jan 2025 from crisil
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Rating update25 Oct 2023 from crisil
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Rating update8 Sep 2022 from icra
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Rating update29 Jul 2022 from crisil