Sula Vineyards moves higher on reporting 14% rise in Own Brands sales in Q2FY24
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Sula Vineyards is currently trading at Rs. 474.55, up by 7.95 points or 1.70% from its previous closing of Rs. 466.60 on the BSE.
The scrip opened at Rs. 478.95 and has touched a high and low of Rs. 484.40 and Rs. 472.65 respectively. So far 71982 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 534.70 on 01-Aug-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. 484.40 and Rs. 458.70 respectively. The current market cap of the company is Rs. 4006.87 crore.
The promoters holding in the company stood at 27.27%, while Institutions and Non-Institutions held 17.01% and 55.72% respectively.
Sula Vineyards has recorded its highest ever Q2FY24 net revenues overall as well as for priority Own Brands and the Wine Tourism business. The company’s Own Brands sales rose 14% to Rs 116.2 crore in Q2FY24 as compared to Rs 102.0 crore in Q2FY23, with Elite and Premium brands leading the way with around 18% year-on-year growth. In H1FY24, Own Brands sales stood at Rs 209.3 crore.
While in Q2FY24, the growth of Wine tourism business was at 26% year-on-year at Rs 12.1 crore as compared to Rs 9.6 crore in the year ago period.In H1FY24, Wine Tourism reported net revenue of Rs 23.6 crore.
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.
