Sula Vineyard's Shares Skyrocket After Impressive Q4 Updates

Sula Vineyards’ business updates for Q4 has pulled the Sula share price back into the green on Wednesday.

What Happened: The wine company on Tuesday released its sales updates for the final quarter of FY23. The company in a press release informed that sales of its own brands crossed the million mark for the first time. The company’s Elite & Premium wines sales surged past the 5 lakh case mark for the first time.

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The record sales have helped the country’s only listed wine producer post a 26% YoY jump in revenue ₹482.5 crore in FY23. The wine tourism vertical of the company also saw sales grow 18% YoY to 124 million with revenue registering a 30% YoY jump to ₹45 crore mark in the year.

For the quarter both the business segment witnessed double-figure growth in revenues. The own brand segment’s revenue was up 15% to ₹104.3 crore. Wine Tourism’s revenue, on the other hand, grew 18% to ₹12.4 crore.

Price Action: Sula share price skyrocketed 5.74% to ₹372.30 at market open on Wednesday.

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