Sula Vineyard shares witnessed a surge of almost 4 per cent on Tuesday after the wine brand reported its highest-ever net revenue in Q4FY24, marking a 10 per cent increase year-on-year.
The wine tourism segment saw a remarkable 31 per cent surge in the same quarter on a YoY basis, amounting to Rs 16.4 crore. The company's premium brands showcased robust performance, recording a 15 per cent YoY growth.
“Our focus on premiumisation continues to deliver results and we are pleased to announce yet another quarter of double-digit growth in our Elite and Premium Own Brands," Sula CEO Rajeev Samant said in an exchange filing.
At 12:00 pm, the shares of the company were trading at Rs 568.65 price level, up by 2.36 per cent or 13 points on the National Stock Exchange.
Sula Vineyard has also announced its plans for the acquisition of N D Wines Pvt. Ltd., a winery located in the Nasik district. The transaction is set to close by the end of April 2024. This marks the company's second acquisition in the last 3 years.
"We achieved our highest-ever annual footfall of over 4 lakh wine adventurers passing through our gates and we have expansion plans on the anvil, with our first ever Tasting room outside our own premises set to open near Nasik Airport later this month,” Samant added.
On an annual basis, the shares of the wine brand have surged over 56 per cent or 204 points on the NSE.
