Sula Vineyards Ltd posted stable revenue for the second quarter of FY26, with its wine tourism segment achieving record figures. Revenue from operations for the quarter ended September 2025 stood at ₹139.7 crore, slightly lower than ₹141.2 crore in the corresponding period last year.
The Own Brands segment contributed ₹124.1 crore, reflecting a 2.5% year-on-year decline, primarily due to route-to-market disruptions in Telangana.
The wine tourism segment recorded its highest-ever second-quarter revenue at ₹13.2 crore, marking a 7.7% increase compared to the previous year. This growth was driven by increased visitor numbers and higher spending per guest.
Improved occupancy rates, which rose to 77% from 74% last year, and record single-day revenues over the Independence Day weekend contributed to the strong performance.
Sula Vineyards recently opened its third resort, The Haven by Sula, near York Winery in Nashik. The 30-key property offers panoramic lake views, gourmet dining, and convention facilities.
The resort is expected to further strengthen the wine tourism segment in the second half of the fiscal year, providing both domestic and international visitors with enhanced experiences.
The share of Elite and Premium wines in Sula’s portfolio remained high at 78%. The launch of Muscat Blanc, the company’s first low-alcohol premium wine, received a positive response from consumers and contributed to sales growth in the Elite and Premium segments.
Sula noted that the expiry of retail licences in Telangana, its third-largest market, led to retailer destocking ahead of new licence issuances. This factor contributed to the slight decline in Own Brands revenue.
Favourable monsoon conditions across Maharashtra and Karnataka have set the stage for a strong grape harvest, marking what could be Sula’s sixth consecutive healthy season. This is expected to support production and sustain wine tourism growth in the coming months.
As of October 15, 2025, 10:09 AM, Sula Vineyards share price stood at ₹249.15, down by ₹0.75 or 0.30% on the BSE. During the trading session, the share price moved within a day’s range of ₹248.05 to ₹249.90, opening and previously closing at ₹249.90.
The stock recorded a volume of 9,266 shares. Over the past 52 weeks, Sula Vineyards share price has fluctuated between ₹242.55 and ₹456.00. The company’s market capitalisation currently stands at ₹2,109.91 crore.
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Sula Vineyards demonstrated steady performance in Q2 FY26, with stable revenue and record growth in wine tourism. The launch of The Haven by Sula and the introduction of Muscat Blanc highlight the company’s efforts to expand its premium offerings. Favourable weather conditions and sustained demand for Elite and Premium wines provide a supportive outlook for the coming quarters, positioning the company for continued engagement with domestic and international visitors.
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Published on: Oct 15, 2025, 10:58 AM IST
Suraj Uday Singh
Suraj Uday Singh is a skilled financial content writer with 3+ years of experience. At Angel One, he excels in simplifying financial concepts. Previously, he cultivated his expertise at a leading mortgage lending firm and a prominent e-commerce platform, mastering consumer-focused and engaging content strategies.
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