Sula Vineyards Ltd shares gained 3.6 percent in the morning trade on April 9, day after the wine maker reported double-digit revenue growth for the March quarter and FY24.
At 9.41 am, Sula Vineyards was trading 2.6 percent higher at Rs 570. Over the past year, the company's shares have soared by 60 percent.
In the March quarter, the company's net revenue climbed 10 percent year-on-year to Rs 131.8 crore, while for FY24, it reached Rs 553.4 crore, also marking a 10 percent growth, the company said in a business update.
Premium brands experienced a 5 percent year-on-year growth in both Q4 FY24 and FY24.
Also Read | Sula Vineyards records double-digit revenue growth in Q4 and FY24; announces acquisition of N D Wines
The wine tourism segment surged 31 percent year-on-year in the March quarter to Rs 16.4 crore and 22 percent for FY24 to Rs 54.7 crore.
Sula Vineyard's own-brands segment witnessed a 9 percent year-on-year increase in the March quarter and an 11 percent increase for FY24, reaching Rs 113 crore and Rs 534.2 crore, respectively.
CEO Rajeev Samant said the company's focus on premiumisation yielded double-digit growth in elite and premium own brands.
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Sula Vineyards achieved its highest-ever annual footfall, surpassing 400,000 wine adventurers and announced plans for expansion, including the opening of a tasting room near Nasik airport later this month.
The company acquired ND Wines, a winery in Nasik district, with the deal set to conclude by the end of April 2024.
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