The company's own brands sales stood at Rs 104.3 crore in Q4 FY23, recording a growth of 15% from Rs 90.7 crore posted in the same quarter a year ago.

Wine tourism business jumped 18% to Rs 12.4 crore in quarter ended 31 March 2023 as against Rs 10.5 crore reported in Q4 FY22.

The company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business.

During the financial year 2022-23, own brands revenue were at Rs 482.5 crore (up 26% YoY) and wine tourism revenues stood at Rs 45 crore (up 30% YoY).

Rajeev Samant, CEO of Sula Vineyards, said, “Our focus on premiumisation is reaping rich dividends - more than 52% of 1 million cases are our Elite & Premium wines including our Sula Vineyards, RASA & The Source brands. That share was just 46% in pre-pandemic FY19. We continue our laser-like focus on our highly profitable own brands, and at the same time prune the imported brands business. I'm particularly pleased that we conducted more than 1.3 lakh unique individual tastings at our iconic vineyards, a massive 66% growth from the year before. This continues to be a significant focus area for the company.”

He further added, “Our wine tourism business continues to soar with total revenue touching Rs 80 crore in FY23 versus just Rs 44 crore in FY19 and we expect this to be a 100 crore business in the coming year. The tribe of Indian wine drinkers is clearly growing - they are reaching for more premium wines and increasingly those are Sula's brands.”

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.

The company's consolidated net profit jumped 15.5% to Rs 39.28 crore in Q3 FY23 as against Rs 34.02 crore recorded in Q3 FY22. Revenue from operations (excluding excise duty) stood at Rs 190.75 crore in Q3 FY23, registering a growth of 11.7% from Rs 170.75 crore recorded in the same period last fiscal.

The stock debuted on the bourses on 22 December 2022. The scrip was listed at a price of Rs 358, representing a premium of 0.28% as compared to the initial public offer (IPO) price of Rs 357.