Sula Vineyards, one of India’s largest wine companies, reported a 7.1% year-on-year increase in revenue for the fourth quarter of FY26, supported by strong growth in its Elite & Premium wine portfolio and record performance in its wine tourism business.
The company’s revenue from operations rose to Rs 142.6 crore in Q4 FY26, compared with Rs 133.1 crore in the corresponding quarter last year. Wine tourism revenue reached an all-time high of Rs 23.9 crore during the quarter, marking a 17.5% YoY growth, driven by an 11% increase in footfalls and strong room revenue growth following the launch of its third resort, The Haven by Sula.
Sula’s Elite & Premium portfolio grew 11% YoY during the quarter, led by strong demand for brands such as The Source and RASA. The segment’s contribution to total sales increased by 400 basis points to 79%.
Commenting on the performance, Rajeev Samant, CEO of Sula Vineyards, said, “I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to growth with revenue up 7% YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism.”
He added, “Wine Tourism once again delivered a strong performance, growing 17% YoY, driven by an 11% increase in footfalls and robust room revenue growth following the launch of The Haven.”
The company said Telangana, Uttar Pradesh and Kerala delivered robust growth during the quarter, while Maharashtra and Karnataka showed improving trends.
EBITDA for Q4 FY26 stood at Rs 27.8 crore, marginally lower than Rs 28.5 crore reported a year ago, impacted by a higher mix of wine grapes and a one-time gain recorded in Q4 FY25. EBITDA margin stood at 19.5%.
For the full year FY26, Sula reported revenue from operations of Rs596.2 crore. Wine tourism revenue for the year rose 20.7% to Rs72.8 crore.
Sula also announced that it has signed an agreement to acquire Chandon’s 19-acre estate in Dindori, Nashik, as part of plans to expand its wine tourism footprint.
Sula Vineyards commands over 50% of the domestic premium wine market with a portfolio of over 50 labels spanning multiple price points
Sula’s Nashik campus is the most visited vineyard destination globally, attracting over 3.5 lakh visitors annually. Its hospitality portfolio includes three luxury resorts in Nashik— The Source, Beyond, and our newest addition The Haven—with a combined 154 keys.
The company also operates four standalone wine-themed restaurants and tasting rooms, co-located with wineries in Nashik and near Bengaluru, Karnataka.
With five wineries across Maharashtra and Karnataka, Sula distributes over 1 million cases annually across India.
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Naresh Khanna – 10 February 2025
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