Sula Vineyards Limited
NSE: SULA · Breweries & Distilleries · sector
₹126.27NSE close 2026-10-26
Key numbers
Market cap₹1,066 cr
Price₹126.27
52w high / low₹262 / ₹126
P/E43.0xSector median 21.8x
P/B1.8xSector median 1.9x
Book value₹69.6
Dividend yield2.87%Sector median 0.83%
ROE4.2%Sector median 8.9%
ROCE7.4%Sector median 10.9%
OPM16.7%Sector median 6.1%
Debt / equity0.50xSector median 0.49x
EV/EBITDA13.5xSector median 24.1x
Interest cover2.1x
Current ratio1.43x
Sales growth 3y+2.5%Sector median +11.1%
Profit growth 3y-32.7%Sector median +14.2%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 27 companies in Breweries & Distilleries (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹9 cr vs borrowings ₹294 cr (FY26): borrowings are higher by ₹285 cr.
- Operating profit covered interest 2.1x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 4 years (FY25).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 23% of net profit in the last 12 months.
- Debtor days went from 102 (FY24) to 145 (FY26).
- Dividend paid in 3 of the last 4 financial years.
- Price ₹126.27 on 2026-10-26: -51.8% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹486.55 · low ₹126.27
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 141 | 217 | 133 | 118 | 140 | 196 | 143 | 121 |
| EBITDA | 34 | 53 | 28 | 18 | 25 | 30 | 28 | 17 |
| OPM % | 23.8% | 24.5% | 21.4% | 15.5% | 18.2% | 15.5% | 19.4% | 13.7% |
| Other income | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Net profit | 14 | 28 | 13 | 2 | 6 | 9 | 9 | 1 |
| EPS (₹) | 1.72 | 3.32 | 1.55 | 0.23 | 0.71 | 1.08 | 1.02 | 0.13 |
| Revenue YoY | -1.1% | -9.7% | +7.1% | +2.1% | ||||
| Profit YoY | -58.4% | -67.6% | -34.1% | -45.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|
| Revenue | 553 | 609 | 619 | 596 | 599 |
| EBITDA | 157 | 176 | 149 | 102 | 100 |
| Net profit | 84 | 93 | 70 | 26 | 25 |
| EPS (₹) | 10.19 | 11.06 | 8.32 | 3.04 | 2.94 |
| Revenue growth | +10.0% | +1.8% | -3.7% | -1.7% | |
| Profit growth | +11.0% | -24.8% | -63.5% | -56.9% | |
| Dividend / share (₹) | – | 9.25 | 4.50 | 3.60 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.5% | – | -1.7% |
| Net profit | -32.7% | – | -56.9% |
| EPS | -33.2% | – | – |
| Share price | – | -44.1% (2y) | -48.1% |
Balance sheet
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Shareholders' equity | 532 | 550 | 586 | 587 |
| Borrowings | 192 | 300 | 297 | 294 |
| Cash & equivalents | 34 | 105 | 14 | 9 |
| Total assets | 881 | 1,026 | 1,081 | 1,096 |
| Fixed assets | 406 | 448 | 488 | 508 |
| Capital work in progress | 2 | 5 | 5 | 1 |
| Investments | 0 | 0 | 0 | 0 |
| Receivables | 115 | 170 | 234 | 237 |
| Inventory | 179 | 198 | 216 | 201 |
| Payables | 82 | 84 | 92 | 96 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash from operations | 88 | 121 | 58 | 101 |
| Cash from investing | -73 | -43 | -75 | -33 |
| Cash from financing | -9 | 2 | -74 | -67 |
| Capex | 69 | 59 | 67 | 32 |
| Free cash flow | 19 | 62 | -9 | 69 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ROE % | 15.8% | 17.0% | 12.0% | 4.4% |
| ROCE % | 18.7% | 17.9% | 13.4% | 7.6% |
| Debtor days | 76 | 102 | 138 | 145 |
| Inventory days | 490 | 539 | 572 | 440 |
| Payable days | 225 | 228 | 244 | 209 |
| Cash conversion cycle (days) | 341 | 413 | 466 | 376 |
| Working capital days | 101 | 70 | 95 | 100 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 24.62% |
| FIIs | 0.35% |
| DIIs | 14.97% |
| of which Mutual funds | 14.94% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 60.06% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 24.66% | 24.66% | 24.36% | 24.35% | 24.35% | 24.55% | 24.62% | 24.62% |
| Promoter group | % |
|---|---|
| Rajeev Suresh Samant | 23.33% |
| MIA Samant | 1.29% |
| Margarita Samant | 0.01% |
| Rajeev Samant (Trustee of Rasa Trust) | 0.00% |
| Public holders above 1% | % |
|---|---|
| HDFC Large and MID CAP Fund | 8.93% |
| SBI Consumption Opportunities Fund | 3.37% |
| Quant Mutual Fund - Quant Small CAP Fund | 2.64% |
| Ruta Mohan Samant | 2.31% |
| Vara Future LLP | 1.81% |
2,60,773 shareholders. Pledged: 0.00% of promoter shares.
Peers in Breweries & Distilleries
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| UNITDSPR | ₹89,828 cr | 46.7x | 10.0x | 22.1% | 26.0% | 7.5% | 0.0% | 1.40% |
| RADICO | ₹56,251 cr | 79.9x | 17.0x | 23.2% | 27.0% | 5.2% | +18.1% | 0.09% |
| UBL | ₹30,041 cr | 76.0x | 6.6x | 8.9% | 10.9% | 4.6% | +1.6% | 0.83% |
| ABDL | ₹18,770 cr | 85.7x | 11.3x | 13.8% | 17.1% | 7.1% | – | 0.54% |
| TI | ₹12,032 cr | – | 4.0x | -1.7% | 2.6% | 3.5% | +28.6% | 0.16% |
| PICCADIL | ₹5,389 cr | 38.1x | 6.0x | 15.6% | 15.5% | 20.3% | – | – |
| GLOBUSSPR | ₹2,069 cr | 20.5x | 1.9x | 9.6% | 12.1% | 7.3% | +8.6% | 0.39% |
| INDIAGLYCO | ₹1,916 cr | 5.8x | 0.7x | 12.2% | 11.3% | 6.5% | +13.9% | 3.93% |
| GMBREW | ₹1,784 cr | 10.3x | 1.6x | 16.3% | 20.0% | 6.1% | +8.6% | 0.96% |
| SULA | ₹1,066 cr | 43.0x | 1.8x | 4.2% | 7.4% | 16.7% | +2.5% | 2.87% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-05-22 | Dividend | Dividend - Rs 2 Per Share |
| 2025-05-23 | Dividend | Dividend - Rs 3.60 Per Share |
| 2024-05-22 | Dividend | Dividend - Rs 4.50 Per Share |
| 2024-02-21 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2023-05-15 | Dividend | Dividend - Rs 5.25 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacture and Supply*: Wine
- Service: Wine Tourism
| Sector | Fast Moving Consumer Goods |
| Industry | Breweries & Distilleries |
| Sub-industry | Breweries & Distilleries |
| Symbol | SULA |
| BSE code | 543711 |
| ISIN | INE142Q01026 |
| Face value | ₹2.0 |
| Incorporated | 2003-02-26 |
| Website | www.sulavineyards.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.