Sula Vineyards Limited on July 10 posted its highest ever overall net revenue in the first quarter of FY25, India’s largest wine producer said in an exchange filing.
The company recorded a 9.7 percent growth in its net revenue for the reported quarter at Rs 129.6 crore against Rs 118.2 crore reported in the year-ago period, the filing said.
The wine producer’s own brands' sales stood at Rs 104.4 crore in the June 30 ended quarter compared to Rs 101.6 crore, recording a growth of 2.7 percent.
However, the firm’s wine tourism segment saw a decline of 2.5 percent at Rs 11.3 crore in the reported quarter against Rs 11.5 crore in the same period of previous year.
“We are pleased to announce our highest ever Q1 net revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions,” said Sula CEO Rajeev Samant.
The stock of the wine maker closed 1.22 percent higher at Rs 501.4 on the NSE. However, the shares have seen a significant decline in the past seven months, since its 52-week high of Rs 699 achieved in January 2024.
The CEO also announced the appointment of Omprakash Singh as the head of marketing.
“I am also pleased to announce the appointment of Omprakash Singh as head of marketing. With a wealth of experience in various FMCG, e-commerce, and media companies like L&K Saatchi & Saatchi and Shemaroo, we're confident Omprakash is the right person to lead Sula’s expanded marketing initiatives moving forward,” Samant said.
Moreover, the company announced it will start bottling at one more unit in Maharashtra. The facility, N D Wines facility, where the bottling will start, was recently acquired by the wine producer, the company said.
The filing also informed that the company has decided to transition the economy and popular brands to a third-party sales force model in Maharashtra, starting with Mumbai and Pune. “This strategy, which has previously yielded strong results in Karnataka and Telangana, will allow Sula’s sales force to focus exclusively on the priority Elite and Premium brands.”
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