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Sula Vineyards

SULA NSE
₹134.85 +4.11 (+3.14%)
P/E
45.87
View as Markdown
MCP
Close 4 Nov 2026 ₹134.85 −114.55 −45.9% 1Y
Start ₹249.40

Key Fundamentals

MicrocapBeveragesFMCG

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
7.55%
Debt to Equity
0.57
EPS (TTM)
₹2.94
Book Value
₹69.56
Market Cap
—
P/E (TTM)
45.87
P/B
1.94
ROE
4.61%
Dividend Yield
1.53%
EBITDA
₹108 Cr
52W High
₹254.30
52W Low
₹125.30
Day Range
₹129.72 – ₹135.84
Volume
1,87,441

Peer Comparison

Fast Moving Consumer Goods › Beverages › Breweries & Distilleries

Sula Vineyards peer comparison
United Spirits
₹1,419.3054.78₹1,00,884 Cr11.391.23%21.40%26.40%₹12,626 Cr₹1,884 Cr
Radico Khaitan
₹4,396.5083.70₹57,961 Cr16.050.21%20.30%24.20%₹6,228 Cr₹704 Cr
United Breweries
₹1,204.5080.51₹32,064 Cr6.980.84%7.69%10.70%₹9,442 Cr₹395 Cr
Allied Blenders & Distillers
₹697.5088.29₹19,494 Cr11.890.78%14.30%18.40%₹3,979 Cr₹210 Cr
Tilaknagar Industries
₹473.60—₹11,718 Cr3.890.22%12.60%11.40%₹3,016 Cr−₹35 Cr
Piccadily Agro Industries
₹594.3041.68₹5,848 Cr6.500.17%17.40%18.00%₹1,075 Cr₹141 Cr
Globus Spirits
₹669.1019.32₹2,115 Cr1.610.99%8.76%11.20%₹2,799 Cr₹99 Cr
Sula Vineyards (this company)
₹134.8545.87₹1,131 Cr1.941.53%4.61%7.55%₹559 Cr₹25 Cr
Median 8 companies₹683.3054.78₹15,606 Cr6.740.81%13.45%14.70%₹3,498 Cr₹176 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

37 Weak

Data confidence 100/100

Category scores

Quality
70
Strong
Returns, margins, earnings quality 22% weight
Valuation
45
Average
Cheap vs sector & own history 24% weight
Growth
25
Poor
Sales & profit trajectory 9% weight
Financial Health
35
Poor
Solvency, leverage, coverage 9% weight
Momentum
17
Poor
Trend strength, vol-adjusted 12% weight
Ownership
19
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 62.0%

Weaknesses

5
  • The company has delivered a poor sales growth of 7.57% over past five years.
  • Promoter holding is low: 24.6%
  • Company has a low return on equity of 11.2% over last 3 years.
  • Company has high debtors of 156 days.
  • Working capital days have increased from 67.9 days to 101 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
54.36
Neutral
MACD (12,26,9)
−1.90
Bullish
SMA (50)
136.50
Bearish
SMA (200)
157.54
Bearish

As of

Analyst Rating

Based on 2 analysts
HOLD100%

0 of 2 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
0
0%
HOLD
2
100%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+7.57%
3Y+2.52%
1Y−3.97%
TTM−1.55%

Net profit

Net profit growth by window
5Y+54.02%
3Y−32.36%
1Y−62.86%
TTM−56.91%

Operating cash flow

Operating cash flow growth by window
5Y−3.39%
3Y+3.92%
1Y+74.14%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+2.13 pp
3Y−11.91 pp
1Y−7.02 pp
TTM−5.29 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹485 Cr
Mar 2021₹386 Cr
Mar 2022₹424 Cr
Mar 2023₹516 Cr
Mar 2024₹568 Cr
Mar 2025₹579 Cr
Mar 2026₹556 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020−₹16.00 Cr
Mar 2021₹3.00 Cr
Mar 2022₹52.00 Cr
Mar 2023₹84.00 Cr
Mar 2024₹93.00 Cr
Mar 2025₹70.00 Cr
Mar 2026₹26.00 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹29.30 Cr +54.2% vs Jun 26
Reported High Mean Low

Quarterly Results

₹ Cr
SULA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
108
134
203
123
121
132
200
126
110
131
180
135
113
Expenses
78.14
89.49
131
93.06
86.97
98.76
147
97.25
91.34
105
148
107
96.27
Operating Profit
30.35
44.2
71.85
29.46
33.96
33.6
53.05
28.46
18.3
25.46
31.95
27.74
16.6
OPM %
27.97%
33.06%
35.39%
24.05%
28.08%
25.39%
26.51%
22.64%
16.69%
19.45%
17.71%
20.56%
14.71%
Other Income
1.57
0.89
1.4
3.85
1.26
0.76
0.9
1.01
0.98
0.83
−0.79
1.49
2.38
Interest
5.32
6.52
8.09
6.24
7.1
7.59
7.81
7.17
7.51
8.55
8.19
7.14
7.18
Depreciation
7.56
7.61
8.11
8.35
8.63
8.69
8.93
8.74
9.21
9.47
10.41
10.08
10.28
PBT
19.04
30.96
57.05
18.72
19.49
18.08
37.21
13.56
2.56
8.27
12.56
12
1.52
Tax %
28.15%
25.42%
24.66%
27.62%
24.94%
19.91%
24.59%
3.91%
24.22%
27.21%
27.55%
28.39%
30.26%
Net Profit
13.68
23.09
42.98
13.55
14.63
14.48
28.06
13.03
1.94
6.02
9.1
8.6
1.06
EPS (₹)
1.62
2.74
5.09
1.61
1.73
1.72
3.32
1.54
0.23
0.71
1.08
1.02
0.13

Profit & Loss

₹ Cr
SULA profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
485
386
424
516
568
579
556
559
Expenses
432
322
311
358
392
430
452
457
Operating Profit
53
64
113
158
176
149
104
102
OPM %
11%
17%
27%
31%
31%
26%
19%
18%
Other Income
−2
−2
3
3
8
4
2
4
Interest
33
33
23
21
26
30
31
31
Depreciation
35
26
24
26
32
35
39
40
PBT
−17
3
70
114
126
88
35
34
Tax %
−8%
5%
25%
26%
26%
21%
28%
—
Net Profit
−16
3
52
84
93
70
26
25
EPS (₹)
−2.09
0.4
6.63
9.98
11.06
8.32
3.04
2.94
Div. Payout %
0%
126%
36%
84%
77%
43%
66%
—

Balance Sheet

₹ Cr
SULA balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
15
15
16
17
17
17
17
Reserves
285
290
380
515
533
569
571
Borrowings
393
315
240
203
324
315
333
Other Liabilities
138
132
123
147
152
174
169
Total Liabilities
831
752
759
881
1,026
1,076
1,089
Fixed Assets
355
318
361
413
454
495
512
CWIP
0
0
1
2
5
6
1
Investments
0
0
0
0
0
0
0
Other Assets
476
434
396
466
567
575
576
Total Assets
831
752
759
881
1,026
1,076
1,089

Cash Flow

₹ Cr
SULA cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
45
120
87
90
121
58
101
Investing
−44
−22
−57
−74
−43
−75
−33
Financing
33
−94
−61
−9
2
−74
−67
Net Cash Flow
34
3
−31
6
81
−90
0
Free Cash Flow
1
104
42
21
63
−7
69
CFO/EBITDA
106
175
92
74
88
53
103

Ratios

SULA financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
114
117
94
81
109
148
156
Inventory Days
334
404
764
775
924
877
609
Days Payable
161
164
318
356
390
374
290
Cash Conversion Cycle
287
357
541
501
643
651
474
Working Capital Days
−2
3
52
85
8
95
101
ROCE %
—
6%
15%
20%
19%
13%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Sula Vineyards insights

62 extracted metrics across FY20–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 49.45%
  • Promoters 24.62%
  • DIIs 14.97%
  • Others 10.61%
  • FIIs 0.35%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Sula Vineyards

What does Sula Vineyards Ltd do?
Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the…
Where is Sula Vineyards Ltd (SULA) listed?
Sula Vineyards Ltd trades as SULA on the NSE and under code 543711 on the BSE.
Which sector does Sula Vineyards Ltd belong to?
Sula Vineyards Ltd is classified under the Beverages sector, in the Breweries & Distilleries industry.
What is the PE ratio of Sula Vineyards Ltd?
Sula Vineyards Ltd trades at a PE ratio of 45.87 as of 4 Nov 2026, on earnings per share of ₹2.94, against a book value of ₹69.56 per share.
What is the 52-week high and low of Sula Vineyards Ltd?
Over the last 52 weeks Sula Vineyards Ltd has traded between ₹125.3 and ₹254.3 as of 4 Nov 2026.
Does Sula Vineyards Ltd pay dividends?
Sula Vineyards Ltd has a dividend yield of 1.53%.
What is the Return on Equity (ROE) of Sula Vineyards Ltd?
Sula Vineyards Ltd reported a return on equity of 4.61%. Its debt-to-equity ratio is 0.57.

Company Information

Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the "category creator" of wine in India.

Website sulavineyards.com
Listed 22 Dec 2022
Face Value ₹2

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