Sula Vineyards reported 6.94% increase in consolidated net profit to 14.63 crore in Q1 FY25 as compared to Rs 13.68 crore posted in Q1 FY24.
Revenue from operations (excluding excise duty) grew 11.47% year on year (YoY) to Rs 120.93 crore in Q1 FY25.Profit before tax was at Rs 19.49 crore in Q1 FY25, up 2.36% from Rs 19.04 crore recorded in the corresponding quarter previous year.
EBITDA jumped 10.3% to Rs 35.2 crore in Q1 FY25 as compared to Rs 31.9 crore recorded in Q1 FY24. EBITDA margin improved to 27.2% in Q1 FY25 as against 27% reported in the quarter ended 30 June 2023.
The company's own brands sales stood at Rs 114.6 crore in Q1 FY25, recording a growth of 12.7% YoY, with Elite and Premium brands leading with around 71% growth in Q1 FY25.
In the June quarter, wine tourism revenue declined by 2.3% to Rs 11.3 crore as compared to Rs 11.5 crore reported in the first quarter of FY24.
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Rajeev Samant, CEO of Sula said, We are pleased to report our highest-ever first quarter Revenue, EBITDA, and PAT in Q1FY25. This is despite the significant headwinds we faced during the quarter including the national elections which led to restrictions on AlcoBev movement and several dry days, and secondly the scorching heatwave. Both these factors impacted trade offtake and end consumer demand in Q1.
A really encouraging trend for us is that wine drinking is picking up well beyond the metros with states like Telangana, Madhya Pradesh, Uttar Pradesh, Haryana, among others performing strongly for us in Q1. One other positive is The Source range, which has been a real standout in the Elite & Premium category, growing by 21% YoY in Q1.
One of the initiatives we took in Q1 was adopting a new route-to-market in Maharashtra where we have gone for a third-party sales model for our Economy & Popular brands. This strategy has yielded good results. Overall as we look ahead, we hope to build on our first quarter results and deliver a strong FY25.
Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.
The scrip shed 0.14% to Rs 483.50 on the BSE.
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