Shares of Sula Vineyards saw a nearly 3% surge following the announcement of a 10% increase in net revenue for Q4, with wine tourism experiencing a remarkable 31% year-on-year growth.
This positive development comes on the heels of the Nashik, Maharashtra-based winemaker’s robust performance in the March quarter and fiscal year 2023-24, marked by double-digit revenue growth.
As of 10:20 am, the shares were trading 2.41% higher at ₹568.95.
After the market closed on Monday, Sula Vineyards disclosed its highest-ever Q4 net revenues across all segments, including its priority own brands, wine tourism businesses, and the acquisition of N D Wines.
According to an exchange filing, Sula Vineyards reported a 10% year-on-year growth in revenue for both the March quarter and FY24.
Furthermore, the company’s elite and premium brands exhibited strong performance, witnessing a 15% year-on-year growth during the reviewed quarter and fiscal year.
