SULA VINEYARDS LIMITED

Sula Vineyards Limited held its Q1 FY27 Earnings Conference Call on August 7, 2026, where management reported a 3% revenue growth driven by a recovery in the Own Brands business and double-digit growth in Wine Tourism. The Own Brands segment grew by 2%, with the Elite & Premium portfolio increasing by 6%. Management noted that Telangana and Haryana showed strong double-digit growth, while Karnataka remained soft. The company expanded its distribution and introduced new wines, which received positive market responses. Wine Tourism revenue grew by 12%, contributing approximately 13% to overall revenue. However, EBITDA was impacted by higher grape costs and a shift in the grape procurement mix. Management indicated that operating costs were reduced by 3%, and they remain focused on cost optimization. The call concluded with a Q&A session addressing various operational and market-related queries.

Management highlighted both growth opportunities and challenges in the current operating environment.