Sula Vineyards Reports Q2 FY26 Revenue with Record Wine Tourism Figures
Sula Vineyards Ltd reported stable revenue for the second quarter of FY26, with operations generating ₹139.7 crore, slightly down from ₹141.2 crore in the same period last year. The Own Brands segment contributed ₹124.1 crore, reflecting a 2.5% year-on-year decline, primarily due to route-to-market disruptions in Telangana.
Despite the minor dip in Own Brands revenue, the company saw a record performance in its wine tourism segment, highlighting the growing importance of experiential offerings in Sula’s business model.
Wine Tourism Hits New Heights
The wine tourism business achieved its highest-ever second-quarter revenue of ₹13.2 crore, a 7.7% increase from the previous year. The growth was driven by higher visitor numbers and increased spending per guest, supported by improved occupancy rates, which rose to 77% from 74% last year. Record single-day revenues over the Independence Day weekend also contributed to the segment’s strong performance.
Launch of The Haven by Sula Strengthens Tourism Portfolio
Sula Vineyards recently inaugurated its third resort, The Haven by Sula, near the York Winery in Nashik. The 30-key property offers panoramic lake views, gourmet dining options, and convention facilities. The resort is expected to further enhance the wine tourism experience for both domestic and international visitors, boosting revenues in the second half of the fiscal year.
Premium Wine Sales Boosted by Muscat Blanc
The share of Elite and Premium wines in Sula’s portfolio remained high at 78%, supported by strong consumer demand. The launch of Muscat Blanc, the company’s first low-alcohol premium wine, received a positive market response and contributed to sales growth in the premium segment.
Challenges in Telangana Market
Revenue from the Own Brands segment was slightly impacted by the expiry of retail licences in Telangana, Sula’s third-largest market. Retailers engaged in destocking ahead of new licence issuances, leading to a minor decline in revenue.
Outlook and Grape Harvest
Favourable monsoon conditions across Maharashtra and Karnataka are expected to support a strong grape harvest, marking potentially the sixth consecutive healthy season for Sula Vineyards. This should sustain wine production and continue to drive growth in the wine tourism segment in the coming months.
Summary:
Sula Vineyards posted Q2 FY26 revenue of ₹139.7 crore, with a slight decline in Own Brands sales due to Telangana market disruptions. The company’s wine tourism segment reached record revenue of ₹13.2 crore, supported by improved occupancy and visitor spending. The launch of The Haven by Sula resort and the successful debut of Muscat Blanc, a low-alcohol premium wine, are expected to further enhance growth. A strong grape harvest is also projected to support both production and tourism in the upcoming months.
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