Sula Vineyards share price rises 2.5% after company posts muted revenue growth in Q4 FY25; 5 things to know

• The company on Monday reported a meagre 0.7% year-on-year (YoY) growth in its revenue from operations at ₹132.6 crore against ₹131.7 crore logged in the year-ago period.

For the full fiscal year 2025, revenue came in at ₹618.8 crore, against ₹608.7 crore seen in FY24, up 1.7%.

• Sula added that "Wine Tourism' continued to demonstrate strong momentum, recording its highest ever Q4 & FY25 revenue, led by the successful SulaFest'25, higher spend per guest and strong occupancy rates.

• During the quarter, while the Elite & Premium portfolio was flat in the domestic market, the Elite category on its own witnessed a healthy 8% YoY growth. The Source range in particular was a standout with robust double-digit growth, it added.

Sula added that it has successfully secured the listing of four new wines with CSD, following the culmination of a two-year-long process.

CSD stands for Canteen Stores Department. The Canteen Stores Department (CSD) is a government-owned organisation under the Ministry of Defence that provides quality consumer goods at lower prices to service personnel, their families, and other authorised beneficiaries.

These include the iconic Dindori Reserve Shiraz, RASA Syrah, The Source Grenache Rosé, and Sula Riesling – taking the total to nine wines now.

• CSD continues to grow as a key buyer of Indian wines, with Sula leading in both listings and supplies. The first shipment of new wines was dispatched in March 2025, setting the stage for a strong CSD performance in FY26.

• Sula’s premium wine cans – Chenin Blanc, Zin Red, and Zin Rosé – are now available on IndiGo’s newly launched international business class. "As India’s leading airline embarks on an ambitious international expansion, the sky is truly the limit for showcasing Sula’s finest to the world," the company said.

Sula Vineyards listing details

The ₹960.35 crore initial share sale had a price range of ₹340-₹357 a share.

With a portfolio of almost 70 labels across various price points and a thriving wine tourism business, including a luxurious resort and wine-themed restaurants in Nashik and near Bangalore, SULA has established itself as the preferred wine brand for Indians.

Sula Vineyards stock performance

Shares of Sula Vineyards have tumbled over 51% in the past 12 months and over 33% so far in 2025.