Sula Vineyards Limited (NSE: SULA), India’s largest wine producer, has shared its provisional and unaudited sales update for the fourth quarter and full financial year ending March 2025.
The company reported a modest year-on-year revenue growth of 0.7% for Q4 FY25, with total revenue from operations standing at ₹132.6 crore compared to ₹131.7 crore in Q4 FY24. For the full year, revenue rose to ₹618.8 crore from ₹608.7 crore in FY24, reflecting a 1.7% increase.
The Own Brands segment, which contributes the bulk of Sula’s revenue, experienced a slight decline in Q4, falling 2.9% year-on-year to ₹109.6 crore. However, for the full fiscal year, Own Brands revenue saw a 2.2% increase, reaching ₹546.2 crore. The Wine Tourism segment delivered a notable performance, posting 24.6% growth in Q4 and 10.2% for the full year. This growth was attributed to the success of events like SulaFest 2025, stronger per-guest spending, and improved occupancy rates at the company’s wine tourism facilities.
Sula’s performance in the “Others” category, which includes ancillary revenue streams outside core wine and tourism businesses, saw an 8.3% increase in Q4, though it declined significantly for the full year, falling 37.6% to ₹12.3 crore.
The company highlighted a stable performance in its domestic Elite and Premium wine portfolio, with the Elite category alone showing 8% year-on-year growth. Among the standout performers was The Source range, which delivered robust double-digit growth during the quarter.
A key development during the period was the successful listing of four new wines with the Canteen Stores Department (CSD), marking the completion of a two-year process. These new listings—Dindori Reserve Shiraz, RASA Syrah, The Source Grenache Rosé, and Sula Riesling—bring the total number of Sula wines available through CSD to nine. The company dispatched its first shipment of these wines in March 2025, positioning itself for stronger CSD sales in FY26.
Sula’s premium wine cans—Chenin Blanc, Zin Red, and Zin Rosé—have also secured a spot on IndiGo’s international business class menu, following the airline’s expansion into overseas routes. This development is expected to increase visibility for Sula wines among global travelers.
Lastly, the 2025 grape harvest was reported to be strong in both quality and volume. This marks the fifth consecutive year of favorable harvests, ensuring a stable supply of raw materials as Sula prepares for FY26.