Sula Vineyards shares in focus today as firm clocks highest revenue in Q4, FY24

Shares of wine producer Sula Vineyards Ltd are in news today after the firm reported its highest-ever revenue in the March quarter and the financial year 2023-24, growing at 10 percent year-on-year (YoY) during both periods .

Sula Vineyards shares ended 0.86% lower at Rs 555.60 against the previous close of Rs 560.40 on BSE. A total of 0.40 lakh shares of the firm changed hands amounting to a turnover of Rs 2.23 crore on BSE.  Market cap of the firm fell to Rs 4689.24 crore. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 51.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 10 day, 20 day, 30 day, 100 day, 200 day but lower than the 5 day, 50 day moving averages. 

The company’s premium brands also performed well, logging a 15 percent YoY growth during the reported quarter and year. Moreover, the wine tourism segment clocked a growth of 31 percent YoY in Q4 compared to the year-ago period, the wine maker said.

Sula’s chief executive officer Rajeev Samant said, “Our focus on premiumization continues to deliver results and we are pleased to announce yet another quarter of double-digit growth in our Elite and Premium Own Brands."

He further said, “Our world-renowned wine tourism business has had a strong quarter with a growth of 31 percent YoY in Q4.”

The company also achieved its highest-ever annual footfall of over 400,000 wine adventurers and announced that it has “some exciting expansion plans on the anvil”.

Sula Vineyards Ltd is a producer and seller of wine. It distributes wines under a bouquet of popular brands including RASA, Dindori, The Source, Satori, Madera, and Dia. The company's business is broadly classified under two categories namely the production of wine, the import of wines and spirits, and the distribution of wines and spirits and the sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms.