India's largest and only listed wine producer on Wednesday announced that it has recorded its highest ever Q1 net revenues overall as well as for the priority Own Brands.
Sula Vineyards said that its net revenue grew by 9.7% to 129.6 crore in Q1 FY25 as against Rs 118.2 crore reported in the same period a year ago.
The company's own brands sales stood at Rs 104.4 crore in Q1 FY25, registering a growth of 2.7% year on year.
On the other hand, Wine tourism business declined 2.5% to Rs 11.3 crore in the June quarter from Rs 11.5 crore posted in Q1 FY24.
Sula CEO Rajeev Samant stated, We are pleased to announce our highest ever Q1 net revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions.
I am also pleased to announce the appointment of Omprakash Singh as Head of Marketing. With a wealth of experience in various FMCG, e-commerce, and media companies like L&K Saatchi & Saatchi and Shemaroo, we're confident Omprakash is the right person to lead Sulas expanded marketing initiatives moving forward.
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Further, the company said that it will begin bottling at one more unit in Maharashtra, the newly acquired N D Wines facility, this month.
Given Sula's portfolio exceeding 50 labels across more than 10 brands, the company has decided, after thorough analysis, to transition the Economy and Popular brands to a third-party sales force model in Maharashtra, starting with Mumbai and Pune. This strategy, which has previously yielded strong results in Karnataka and Telangana, will allow Sulas sales force to focus exclusively on the priority Elite and Premium brands, the company stated in the press release.
Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.
The company's comnsolidated net profit declined 4.8% to Rs 13.55 crore in Q4 FY24 as against with Rs 14.24 crore posted in Q4 FY23. Net sales stood at Rs 122.52 crore in Q4 FY24, jumped 8.1% year on year.
Shares of Sula Vineyards added 0.01% to Rs 501.55 on the BSE.
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