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Sula Vineyards shares drop 2% after firm's Q1 revenue falls 8%; wine tourism surges 22%

Sula Vineyards share price: The revenue generated from its own brands dipped nearly 11% on-year to Rs 102.3 crore in Q1 FY26 from Rs 114.6 crore in Q1 FY25.

July 14, 2025 / 09:38 IST
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Sula Vineyards Q1 business update

The shares of Sula Vineyards dropped 2 percent in early trade on July 14 after the company's provisional Q1 business update failed to meet expectations. The shares of the company were trading at Rs 293 apiece.

Sula Vineyards reported revenue from operations at Rs 118.3 crore for the April-June quarter of ongoing financial year 2026. This marked a fall of 7.9 percent on-year from the Rs 128.4 crore revenue from operations reported in the corresponding quarter of the previous financial year. Notably, the higher revenue in Q1 FY25 was fuelled by a one-time WIPS unwinding benefit of Rs 10.4 crore. Without the one-time gain, the firm's revenue would have marked a marginal rise of 0.2 percent on-year.

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Revenue from own brands falls 11%

The revenue generated from its own brands dipped nearly 11 percent on-year to Rs 102.3 crore in Q1 FY26 from Rs 114.6 crore in Q1 FY25. "Own Brands revenue remained subdued due to the continued slowdown in urban consumption. Additionally, the increase in excise duties on spirits in Maharashtra, effective 25th June, prompted heavy pre-loading of spirits by the trade aiming to capitalize on pre-revision prices, thereby temporarily blocking the trade placement for wine. Notably, the excise duties on wine remain unchanged, which bodes well for the industry going forward. The share of Elite & Premium improved in Q1 FY26 led by strong double-digit growth in The Source and RĀSĀ," the firm said.