Sula Vineyards Limited — Q1FY27 earnings call summary

Filed 13 August 2026 · Official transcript

Expect grape cost normalization and margin recovery from Q4 FY27; confident of surpassing last year's EBITDA margin by FY27 end
Q1 FY27 revenue grew 3% y-y to INR121 Cr, led by Own Brands recovery and 12% growth in Wine Tourism
EBITDA margin impacted by 150 bps higher grape costs and 200 bps adverse market mix; cost cuts reduced operating expenses by 3%
Net debt reduced to INR319 Cr; finance costs down 4%; WIPS receivables stable
Elite & Premium portfolio grew 6%, now 78% of Own Brands; The Source and RASA expanded distribution pan-India
Economy & Popular segment pressured by competitor discounting; Telangana market grew 50%+, Karnataka soft
Wine Tourism occupancy at 63%, new resort The Haven scaling up; acquisition of Domain RASA estate completed