Sula Vineyards surges on reporting 24% rise in Own Brands sales in Q1FY24
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Sula Vineyards is currently trading at Rs. 462.00, up by 17.10 points or 3.84% from its previous closing of Rs. 444.90 on the BSE.
The scrip opened at Rs. 458.05 and has touched a high and low of Rs. 465.00 and Rs. 452.05 respectively. So far 18489 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 489.60 on 22-Jun-2023 and a 52 week low of Rs. 305.55 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 468.00 and Rs. 435.05 respectively. The current market cap of the company is Rs. 3834.55 crore.
The promoters holding in the company stood at 27.33%, while Institutions and Non-Institutions held 17.62% and 55.06% respectively.
Sula Vineyards has recorded its highest ever Q1FY24 net revenues overall as well as for Own Brands and the Wine Tourism business. The company’s Own Brands sales rose 24% to Rs 103.50 crore in Q1FY24 as compared to Rs 83.20 crore in Q1FY23, with Elite and Premium brands leading the show with impressive around 30% growth.
While in Q1FY24, the growth of Wine tourism business was at 11% year-on-year at Rs 11.40 crore as compared to Rs 10.30 crore in the year ago period.
Sula Vineyards is India’s largest wine producer and seller. The company is the market leader across all four price segments, being ‘Elite’, ‘Premium’, ‘Economy’ and ‘Popular’. Furthermore, the company is also recognized as the market leader across wine variants, including red, white and sparkling wines.
