Sula Vineyards
SULA NSE
Sula Vineyards
Fast Moving Consumer GoodsNSE: SULA BSE: 543711 Beverages
Key Fundamentals
MicrocapBreweries & DistilleriesBeveragesMarket Cap
₹1,153 Cr
Volatility
Low Risk
P/E Ratio
46.39
EBITDA
₹108 Cr
Return on Equity
4.37%
Debt to Equity
0.57
Book Value
₹69.56
EPS
₹11.17
52W High
₹296.8
52W Low
₹138.07
Tapetide Score
Data-driven rating, 0–100. How it works →
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
Growth Rate
Revenue Growth
-3.93% lower than
3Y
Net Income Growth
-63.53% lower than
3Y
Cash Flow Change
72.58% higher than
3Y
ROE
-63.49% lower than
3Y
ROCE
-44.56% higher than
3Y
EBITDA Margin (Avg.)
-26.68% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 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 | 12.01 | 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 in Rs | 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
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| 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 in Rs | -10.42 | 1.98 | 6.63 | 9.98 | 11.06 | 8.32 | 3.04 | 2.94 |
| Div. Payout % | 0% | 126% | 36% | 84% | 77% | 43% | 66% | — |
Balance Sheet
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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/OP | 106 | 175 | 92 | 74 | 88 | 53 | 103 |
Ratios
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sula Vineyards insights
59 extracted metrics + investor summaries across FY20–FY26.
Documents
1
Clarification sought from Sula Vineyards Ltd
30 Jul - Exchange has sought clarification from Sula Vineyards Ltd on July 30, 2026, with reference to Movement in Volume. 30 Jul - Exchange has sought clarification from Sula Vineyards Ltd on July 30, 2026, with reference to Movement in Volume.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 May - Audio recording of earnings call held on 7 May 2026 for audited FY26 and Q4 results available. 7 May - Audio recording of earnings call held on 7 May 2026 for audited FY26 and Q4 results available.
4
Intimation Of Annual General Meeting
8h - Board approved FY26 audited results, recommended ₹2 final dividend, AGM on 25 June 2026, record date 22 May 2026. 8h - Board approved FY26 audited results, recommended ₹2 final dividend, AGM on 25 June 2026, record date 22 May 2026.
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 "categ...
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 Fast Moving Consumer Goods sector, in the Beverages industry.
What is the market capitalisation of Sula Vineyards Ltd?
Sula Vineyards Ltd has a market capitalisation of ₹1,153 Cr, which places it in the Small Cap band.
What is the PE ratio of Sula Vineyards Ltd?
Sula Vineyards Ltd trades at a PE ratio of 46.39, on earnings per share of ₹11.17, 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 ₹138.07 and ₹296.8.
Does Sula Vineyards Ltd pay dividends?
Sula Vineyards Ltd has a dividend yield of 1.45%.
What is the Return on Equity (ROE) of Sula Vineyards Ltd?
Sula Vineyards Ltd reported a return on equity of 4.37%. 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.[1]
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