Sula Vineyard's Shares Skyrocket After Impressive Q4 Updates

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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Posted In: MoversTrading Ideasalcohol stocksQ4FY23Sula Vineyards