Sula Vineyards Q2 FY27: Net Revenue Up 4% to ₹135.5 Cr, Net Profit Surges 34%
Sula Vineyards reported Q2 FY27 Net Revenue of ₹135.5 Cr, up 4% YoY, driven by Own Brands and Wine Tourism. Elite & Premium portfolio grew 9% YoY. Wine Tourism revenue increased 24% YoY. Net Profit surged 34% YoY to ₹8.1 Cr. A new hotel is planned for Q4 FY28 opening.
The announcement includes detailed financial results for the quarter, growth drivers, and future expansion plans (new hotel, product launches), which are material information for investors.
The company reported positive year-on-year growth in net revenue and a significant increase in net profit. Key segments like Own Brands and Wine Tourism showed strong performance, and strategic expansion plans are underway.
Sula Vineyards Limited has released its investor presentation for the quarter and half-year ended September 30, 2026 (Q2 & H1 FY27). The company reported a Net Revenue from Operations of ₹135.5 crore for Q2 FY27, marking a 4% year-on-year increase. This growth was primarily driven by improved traction in Own Brands and continued double-digit growth in Wine Tourism.
Within Own Brands, revenue stood at ₹128.3 crore, a 3.4% YoY increase. The Elite & Premium portfolio showed robust growth of 9.0% YoY, with its salience improving by 420 basis points to 82% in Q2 FY27. Key drivers included strong double-digit growth in The Source (sparkling wines) and Sula Merlot. The company also noted strong double-digit growth in Telangana, Goa, West Bengal, and exports. Sula Vineyards plans to launch wine-based Ready-to-Drink (RTD) beverages in Q3 FY27.
The Wine Tourism segment delivered another strong quarter with revenue at ₹16.3 crore, a significant 23.7% YoY increase. The company opened its new Events Pavilion, 'The Vintage Room,' at its Nashik campus, a 5,000 sq. ft. indoor banquet facility for up to 300 guests. Furthermore, Sula will commence construction of its fourth hotel, a 35-key property near its flagship Nashik campus, expected to open in Q4 FY28.
Gross Profit for Q2 FY27 was ₹89.7 crore, a slight decrease of 0.6% YoY, impacting the Gross Margin to 66.2% from 69.0% in the previous year. Operating EBITDA increased by 8.1% YoY to ₹27.5 crore, with Operating EBITDA Margin improving by 85 basis points to 20.3%. Net Profit After Tax (PAT) saw a substantial surge of 34% YoY, reaching ₹8.1 crore. This strong profit growth was attributed to higher EBITDA and a reduction in finance costs.
The company highlighted that the higher blended grape cost, which impacted gross margins in H1 FY27, is expected to be a temporary effect. It is projected to subside from Q4 FY27 and normalize from Q1 FY28 as the wine and table grape mix rebalances during Harvest 2027.
Sula Vineyards reiterated its commitment to growth through product development, expanding market penetration, augmenting wine adoption, and strategic Mergers & Acquisitions. The company aims to accelerate earnings growth over the next three years (FY26-FY29) with improved EBITDA margins and capital efficiency.
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