Indian Wine

Prices of art, wine, whisky, diamonds, furniture drop in 2024: Knight Frank

Prices of art declined maximum by 18.3 per cent annually during the last year among top 10 popular investments of passion while rates of wine and rare whisky fell by 9 per cent each, according to Knight Frank. On Wednesday, global property consultant Knight Frank released its 'The Wealth Report 2025'. In a statement, the consultant said that Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, revealed that only five out of the ten collectibles managed growth in 2024. Handbags were the best performing luxury asset class with prices rising 2.8 per cent in 2024, followed by jewellery 2.3 per cent, coins 2.1 per cent, watches 1.7 per cent and classic cars 1.2 per cent. "The weakest sectors were fine art, wine and whisky. Art was down 18.3 per cent, with the market seeing a total reversal from the double-digit growth of 2023 and a worse performance than during the COVID-19 crisis when values fell 17 per cent," Knight Frank ...

Sula Vineyards tumbles 7% to fresh 52-week low as Q2 net profit falls 37%

Sula Vineyard's profit plummeted 37.3 per cent year-on-year (Y-o-Y) to Rs 14.5 crore in Q2FY25, from Rs 23.1 crore in Q2FY24

Sula Vineyards stock price gains on highest ever Q1 revenue of Rs 130 crore

The uptick in the stock price came after the company said it has recorded its highest ever Q1 net revenue and own brands revenue

Wine maker Sula Vineyard eyes double-digit growth aided by premiumisation

The premium and elite section of the winery has grown at a compound annual growth rate of 15-20 per cent over the last three years

Sula Vineyards share drops 7% on weak Q4 performance

The fall came on the back of weak quarter-ending March performance by the winemaker. Its net profit fell over 4 per cent on a year-on-year (Y-o-Y) basis to 13.6 crore in Q4FY24

Wine, spirits importers urge states for inflation-linked pricing policy

Premium spirits and wine importers' body ISWAI has urged state governments to implement an inflation-based pricing model, highlighting that industry margins have shrunk due to a rise in raw material costs. As the cost of raw materials used to produce alcohol has gone up substantially and theP of liquor has not been revised in recent years, very little is left for the trade and manufacturers while state governments are taking away as high as 60-80 per cent of the share, according to International Spirits & Wines Association of India (ISWAI) CEO Nita Kapoor. ISWAI is also pressing for rationalisation of excise duty imposed by some state governments, as they try to maximise the revenue collections, and said it will not help in growing volumes. "The industry and manufacturers are now facing a lot of pressure. It's like their back against the wall because if in theP, states share is roughly about 60 to 80 per cent, then what is being left on the trail and the sub-manufacturer is to ...

Two entities divests 11.8% stake in Sula Vineyards for Rs 573 crore

Investment firm Verlinvest Asia Pte and Mousserena LP divested a total of 11.8 per cent stake in leading wine producer Sula Vineyards for Rs 573 crore through open market transactions. Verlinvest Asia Pte offloaded 70,42,275 shares representing 8.34 per cent equity stake of Sula Vineyards and Mousserena LP disposed of 29,00,000 shares representing 3.44 pc stake of the Nashik-based wine producer, as per bulk deal data with the NSE. The shares were sold in a price range of Rs 575.47-576.78 apiece, taking the combined transaction value to Rs 573.07 crore. After the latest transaction, Verlinvest Asia Pte has exited the firm by selling its entire stake, while Mousserena LP's shareholding has declined to 0.22 per cent from 3.66 per cent stake in the firm. Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 8.65 lakh shares, representing a 1.03 per cent stake in Sula Vineyards for Rs 50 crore. The shares were bought at an average price of Rs 575 per piece, taking the deal va

Budget 2024-25: Bringing high spirits home on alcobev players' wish list

The Perfect Pour, a Mumbai-based wine and spirits consulting firm, urges the Budget to focus on a unified ecosystem, standardised pricing, and GST

Zero impact of unseasonal rains on business, says Sula Vineyards CEO

Homegrown wine producer Sula Vineyards Ltd on Wednesday said the recent unseasonal rains in Nasik will have zero impact on its business although there was some damage to vineyards. The net impact of these rains has actually been positive in many ways as some rain-deficient districts such as Dindori and Sinnar have received a much-needed water top-up due to the rains, Sula Vineyards CEO Rajeev Samant said in a regulatory filing. "Though there was some damage to vineyards, especially where there were hailstorms, the overall impact on our wine grape procurement and upcoming harvest will be negligible, meaning zero impact on the overall business," he added. With over 25 years of experience, the company has developed a robust grape procurement model where it anticipates a few unseasonal rain events to occur every year. "We therefore always target a slightly higher grape tonnage than we need to fulfil our sales projections. The result is that if and when such unseasonal rains occur, Sula

Australia FTA: Wine industry gears up for foreign market's entry in India

The duty cut regime on Australian wine under the recent trade agreement strikes a balance between protecting the domestic industry and opening the path for greater investments and tie-ups

Wine maker Sula's IPO to open Dec 12, size Rs 900-1,000 crore, say sources

Entire issue will be OFS of nearly 27 million shares belonging to promoters and PE investors

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Mizoram to soon notify rules for processing local grapes for wine making

The Mizoram government will soon notify rules for processing locally grown grapes to make wine in the state, a minister said. The state council of ministers had recently approved the draft rules. Replying to a question from VL Zaithanzama of Zoram People's Movement (ZPM), Excise Minister K Beichhua told the assembly on Tuesday that the draft rules have been sent to the law department for vetting and would be notified soon. Excise duty will be charged on the locally processed grape wine, he said. Manufacture and sale of wine from grapes grown outside the state would not be allowed under the rules, the minister said. The state cabinet had allowed manufacture and sale of wine from fresh grapes harvested locally by farmers under a liquor prohibition law. The decision was taken months after grape growers' society in east Mizoram's Champhai district protested against the seizure of locally brewed grape wine. The farmers' body demanded legislation for the manufacture of grape wine. An

Maharashtra govt nod for wine sale in supermarkets unfortunate: Anna Hazare

Social activist Anna Hazare on Monday said it was unfortunate that the Maharashtra government was giving priority to liquor sale for financial gains

Decision to allow wine sale in supermarkets smacks of a 'deal': Fadnavis

Maharashtra Leader of Opposition Devendra Fadnavis on Friday said that the Maha Vikas Aghadi government's decision on Thursday to allow sale of liquor in supermarkets smacked of a "deal"

Diageo incurred 2-mn-pound loss on sale of India wine business in FY20

Talking about consumption preferences, Diageo said consumers who drink alcohol are increasingly choosing spirits over beer and wine

Wine ratings explained

Three- and five-point ratings don't address the subject adequately, and wine producers themselves cannot be relied upon to be objective.

The best of Indian wines

The quality (and price) of wines made in India improves/increases each year and there's no question that our best wines are today much better than most imported wines priced at the same level.

A long, dry summer

A silver lining in the dark clouds of this 10-week lockdown and the attendant downturn in the economy is the possibility that online ordering and home deliveries of at least wines will continue.