About Sula Vineyards Limited
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Sula Vineyards Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the alcoholic beverage manufacturing and distribution segment of the food and beverages sector. It was incorporated on 26 February 2003 and has been in existence for over 23 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L15549MH2003PLC139352. Its GSTIN is 27AABCN7126Q1ZY (Maharashtra). The company holds 10 GST registrations, of which 4 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 543711 and NSE: SULA.
The company has an authorised share capital of ₹20.21 Cr and a paid-up capital of ₹16.89 Cr. It was formerly known as Nashik Vintners Private Limited and Sula Vineyards Private Limited. It is led by directors including Rajeev Samant (Managing Director) and Chetan Rameshchandra Desai.
Its last annual general meeting (AGM) was held on 25 June 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹555.87 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net profit of ₹27.08 Cr (net margin 4.9%) and EBITDA of ₹101.62 Cr (EBITDA margin 18.3%). The net worth stands at ₹587.4 Cr (up 0.2% YoY). Total assets are valued at ₹927.67 Cr (up 2.5% YoY).
The company has about 762 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Sula Vineyards. As per MCA filings, the company has open charges of ₹744.33 Cr and satisfied charges of ₹342.54 Cr on record. Court records list 42 cases involving the company, including 30 filed by the company and 13 filed against it; 16 cases are pending. The company has 84 deals on record (37 secondary share transfers, 26 funding rounds, 19 market trades), with disclosed funding of ₹307.74 Cr; the latest was in September 2025. Its 7 peer companies in the Food and Beverages industry (Alcoholic Beverages), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 4 larger and 3 smaller; the largest is Som Distilleries and Breweries Odisha Private Limited with revenue of ₹665.96 Cr. The company has 31 MSME Form 1 returns on record between 2013 and 2024, listing 1,530 overdue payments to 107 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website sulavineyards.com.
Company details
Name history
Sula Vineyards has undergone 3 name changes throughout its history. The company was previously known as Nashik Vintners Private Limited, Sula Vineyards Private Limited, and Nashik Vintners Limited. The current legal name is Sula Vineyards Limited.
| Company Name | Status |
|---|---|
| Sula Vineyards Limited | Current |
| Nashik Vintners Private Limited | Previous |
| Sula Vineyards Private Limited | Previous |
| Nashik Vintners Limited | Previous |
CIN history
Sula Vineyards has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L15549MH2003PLC139352, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L15549MH2003PLC139352 | Current |
| U15549MH2003PLC139352 | Previous |
| U15549MH2003PTC139352 | Previous |
Contact details
Sula Vineyards Limited's registered office is in Mumbai, Maharashtra. Its website is sulavineyards.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address201 – A Solaris One, N. S. Phadke Marg, Mumbai, Maharashtra, India – 400069
- IndustryFood and Beverages, Alcoholic Beverage Manufacturing & Distribution
To see the full contact details of Sula Vineyards Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Sula Vineyards operates one associated brand: Sula Vineyards. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Vineyard that produces and sells wine, offers hospitality and wine courses | sulavineyards.com |
Business activity
The main business activities of Sula Vineyards are manufacturing, trade and accommodation and food service. In detail, this covers food, beverages and tobacco products, wholesale trading and accommodation services provided by hotel, inns, resorts, holiday homes, hostel, etc.. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products | |
| G | Trade | G1 | Wholesale Trading | |
| I | Accommodation and Food Service | I1 | Accommodation services provided by Hotel, Inns, Resorts, holiday homes, hostel, etc. |
To see the full business activity and turnover split of Sula Vineyards Limited, buy the company report.
Financials of Sula Vineyards Limited
FY 2025-26 filings availableSula Vineyards Limited reported revenue of ₹555.87 Cr (down 4% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 556 | 579 | 568 | 516 | 424 | 386 | 485 |
| Revenue growth | -4.0% | +2.0% | +9.9% | +21.7% | +10.0% | -20.5% | - |
| EBITDA | 102 | 149 | 176 | 157 | 113 | 58.70 | 48.92 |
| EBITDA margin | +18.3% | +25.7% | +31.0% | +30.5% | +26.7% | +15.2% | +10.1% |
| Profit before tax | 35.39 | 88.34 | 126 | 114 | 69.54 | 3.18 | (17.39) |
| Net profit | 27.08 | 69.89 | 92.85 | 84.49 | 52.18 | 6.78 | (11.86) |
| Net profit margin | +4.9% | +12.1% | +16.4% | +16.4% | +12.3% | +1.8% | -2.4% |
| EPS (₹) | 3.04 | 8.32 | 11.06 | 9.98 | 6.63 | 1.98 | (10.42) |
| Balance sheet | |||||||
| Total assets | 928 | 905 | 876 | 735 | 637 | 630 | 703 |
| Net worth | 587 | 586 | 550 | 532 | 395 | 305 | 300 |
| Total debt | 333 | 315 | 324 | 203 | 240 | 315 | 393 |
| Cash & bank | 9.37 | 8.37 | 105 | 33.76 | 19.58 | 51.76 | 40.27 |
| Net working capital | 408 | 394 | 371 | 296 | 266 | 301 | 333 |
| Cash flow | |||||||
| Cash from operations | 101 | 58.38 | 121 | 89.91 | 87.44 | 120 | 44.68 |
| Cash from investing | (33.33) | (74.81) | (42.85) | (74.38) | (56.78) | (21.71) | (43.97) |
| Cash from financing | (67.45) | (73.54) | 2.48 | (9.36) | (61.25) | (94.48) | 33.34 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 113 | 135 | 180 | 131 | 110 | 126 | 200 | 132 |
| Revenue growth (YoY) | +3.0% | +7.3% | -9.9% | -1.1% | -9.3% | - | - | - |
| Other income | 2.38 | 1.61 | 0.91 | 0.83 | 0.98 | 1.01 | 0.90 | 0.76 |
| EBITDA | 16.60 | 27.62 | 30.25 | 25.46 | 18.30 | 28.46 | 53.05 | 33.60 |
| EBITDA margin | +14.7% | +20.5% | +16.8% | +19.4% | +16.7% | +22.6% | +26.5% | +25.4% |
| Depreciation | 10.28 | 10.08 | 10.41 | 9.47 | 9.21 | 8.74 | 8.93 | 8.69 |
| Interest | 7.18 | 7.14 | 8.19 | 8.55 | 7.51 | 7.17 | 7.81 | 7.59 |
| Profit before tax | 1.52 | 12.01 | 12.56 | 8.27 | 2.56 | 13.56 | 37.21 | 18.08 |
| Tax | 0.46 | 3.41 | 3.46 | 2.25 | 0.62 | 0.53 | 9.15 | 3.60 |
| Net profit | 1.06 | 8.60 | 9.10 | 6.02 | 1.94 | 13.03 | 28.06 | 14.48 |
| EPS (₹) | 0.13 | 1.02 | 1.08 | 0.71 | 0.23 | 1.55 | 3.32 | 1.72 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 462 | 488 | 548 | 493 | 390 | 306 | 387 |
| Revenue growth | -5.4% | -10.9% | +11.2% | +26.4% | +27.5% | -20.9% | - |
| EBITDA | 57.28 | 95.54 | 167 | 156 | 105 | 51.56 | 51.24 |
| EBITDA margin | +12.4% | +19.6% | +30.6% | +31.6% | +27.0% | +16.9% | +13.2% |
| Profit before tax | 7.71 | 47.90 | 127 | 118 | 66.26 | (0.28) | (12.07) |
| Net profit | 6.45 | 33.53 | 94.51 | 88.77 | 50.15 | 2.43 | (5.90) |
| Net profit margin | +1.4% | +6.9% | +17.2% | +18.0% | +12.9% | +0.8% | -1.5% |
| EPS (₹) | 0.37 | 3.96 | 11.22 | 10.48 | 6.22 | (0.42) | (5.42) |
| Balance sheet | |||||||
| Total assets | 825 | 851 | 869 | 748 | 642 | 648 | 711 |
| Net worth | 553 | 575 | 575 | 556 | 415 | 328 | 326 |
| Total debt | 265 | 269 | 292 | 192 | 226 | 310 | 357 |
| Cash & bank | 6.69 | 4.70 | 102 | 28.96 | 14.76 | 45.32 | 35.91 |
| Net working capital | 338 | 330 | 354 | 274 | 237 | 274 | 293 |
| Cash flow | |||||||
| Cash from operations | 72.89 | 64.03 | 113 | 80.51 | 77.49 | 113 | 34.70 |
| Cash from investing | (15.15) | (68.74) | (34.66) | (70.82) | (39.15) | (12.28) | (43.09) |
| Cash from financing | (56.35) | (85.89) | 1.47 | (3.81) | (69.32) | (95.68) | 40.64 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99.06 | 104 | 155 | 112 | 91.08 | 89.80 | 165 | 115 |
| Revenue growth (YoY) | +8.8% | +16.0% | -6.2% | -2.9% | -23.0% | - | - | - |
| Other income | 2.64 | 1.98 | 1.20 | 1.29 | 1.79 | 1.78 | 1.72 | 1.65 |
| Total expenses | 83.39 | 97.52 | 133 | 94.06 | 80.26 | 81.53 | 130 | 93.82 |
| EBITDA | 15.67 | 6.65 | 21.97 | 17.84 | 10.82 | 8.27 | 34.70 | 21.41 |
| EBITDA margin | +15.8% | +6.4% | +14.2% | +15.9% | +11.9% | +9.2% | +21.0% | +18.6% |
| Depreciation | 7.53 | 7.42 | 7.66 | 7.56 | 7.53 | 7.16 | 7.46 | 7.21 |
| Interest | 5.41 | 5.74 | 6.57 | 7.17 | 6.18 | 5.86 | 6.71 | 6.66 |
| Profit before tax | 5.37 | (4.53) | 8.94 | 4.40 | (1.10) | (2.97) | 22.25 | 9.19 |
| Tax | 1.31 | 1.23 | 2.32 | 1.25 | (0.19) | 1.92 | 5.92 | 1.80 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 113 | 135 | 180 | 131 | 110 | 126 | 200 | 132 |
| Revenue growth (YoY) | +3.0% | +7.3% | -9.9% | -1.1% | -9.3% | - | - | - |
| Other income | 2.38 | 1.61 | 0.91 | 0.83 | 0.98 | 1.01 | 0.90 | 0.76 |
| EBITDA | 16.60 | 27.62 | 30.25 | 25.46 | 18.30 | 28.46 | 53.05 | 33.60 |
| EBITDA margin | +14.7% | +20.5% | +16.8% | +19.4% | +16.7% | +22.6% | +26.5% | +25.4% |
| Depreciation | 10.28 | 10.08 | 10.41 | 9.47 | 9.21 | 8.74 | 8.93 | 8.69 |
| Interest | 7.18 | 7.14 | 8.19 | 8.55 | 7.51 | 7.17 | 7.81 | 7.59 |
| Profit before tax | 1.52 | 12.01 | 12.56 | 8.27 | 2.56 | 13.56 | 37.21 | 18.08 |
| Tax | 0.46 | 3.41 | 3.46 | 2.25 | 0.62 | 0.53 | 9.15 | 3.60 |
| Net profit | 1.06 | 8.60 | 9.10 | 6.02 | 1.94 | 13.03 | 28.06 | 14.48 |
| EPS (₹) | 0.13 | 1.02 | 1.08 | 0.71 | 0.23 | 1.55 | 3.32 | 1.72 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 556 | 579 | 568 | 516 | 424 | 386 | 485 |
| Revenue growth | -4.0% | +2.0% | +9.9% | +21.7% | +10.0% | -20.5% | - |
| Other income | 4.33 | 3.93 | 7.72 | 3.49 | 2.78 | 3.57 | 1.58 |
| Total expenses | 454 | 430 | 392 | 359 | 311 | 327 | 436 |
| Employee cost | 90.90 | 93.13 | 86.35 | 77.46 | 65.34 | 55.50 | 65.74 |
| EBITDA | 102 | 149 | 176 | 157 | 113 | 58.70 | 48.92 |
| EBITDA margin | +18.3% | +25.7% | +31.0% | +30.5% | +26.7% | +15.2% | +10.1% |
| Depreciation | 39.17 | 34.99 | 31.63 | 25.89 | 23.61 | 25.70 | 35.00 |
| Interest | 31.39 | 29.67 | 26.16 | 21.08 | 22.92 | 33.39 | 32.89 |
| Profit before tax | 35.39 | 88.34 | 126 | 114 | 69.54 | 3.18 | (17.39) |
| Tax | 9.74 | 18.14 | 32.47 | 29.94 | 17.40 | 0.17 | (1.46) |
| Net profit | 27.08 | 69.89 | 92.85 | 84.49 | 52.18 | 6.78 | (11.86) |
| Net profit margin | +4.9% | +12.1% | +16.4% | +16.4% | +12.3% | +1.8% | -2.4% |
| EPS (₹) | 3.04 | 8.32 | 11.06 | 9.98 | 6.63 | 1.98 | (10.42) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 16.89 | 16.88 | 16.88 | 16.85 | 15.72 | 15.08 | 15.04 |
| Reserves & surplus | 571 | 569 | 533 | 515 | 379 | 289 | 284 |
| Shareholders' funds (net worth) | 587 | 586 | 550 | 532 | 395 | 305 | 300 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.40 |
| Secured loans | 266 | 276 | 263 | 166 | 211 | 271 | 338 |
| Unsecured loans | 67.38 | 39.68 | 61.24 | 36.61 | 29.10 | 43.71 | 55.05 |
| Total debt | 333 | 315 | 324 | 203 | 240 | 315 | 393 |
| Total liabilities | 928 | 905 | 876 | 735 | 637 | 630 | 703 |
| Assets | |||||||
| Gross block | 712 | 662 | 593 | 550 | 477 | 413 | 436 |
| Net block | 512 | 495 | 454 | 413 | 361 | 318 | 355 |
| Capital work in progress | 0.85 | 5.52 | 4.82 | 1.91 | 0.98 | 0.11 | 0.12 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.08 |
| Inventories | 201 | 216 | 198 | 179 | 162 | 144 | 171 |
| Sundry debtors | 237 | 234 | 170 | 115 | 109 | 124 | 152 |
| Cash & bank balances | 9.37 | 8.37 | 105 | 33.76 | 19.58 | 51.76 | 40.27 |
| Loans & advances | 99.43 | 83.06 | 29.91 | 97.31 | 79.30 | 87.63 | 79.68 |
| Total current assets | 547 | 542 | 502 | 424 | 371 | 407 | 443 |
| Total current liabilities | 139 | 148 | 131 | 129 | 105 | 106 | 110 |
| Net working capital | 408 | 394 | 371 | 296 | 266 | 301 | 333 |
| Total assets | 928 | 905 | 876 | 735 | 637 | 630 | 703 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 7.22 | 97.19 | 16.37 | 10.20 | 40.79 | 37.47 | 3.42 |
| Net cash from operating activities | 101 | 58.38 | 121 | 89.91 | 87.44 | 120 | 44.68 |
| Net cash from investing activities | (33.33) | (74.81) | (42.85) | (74.38) | (56.78) | (21.71) | (43.97) |
| Net cash from financing activities | (67.45) | (73.54) | 2.48 | (9.36) | (61.25) | (94.48) | 33.34 |
| Net change in cash | (0.03) | (89.97) | 80.82 | 6.17 | (30.59) | 3.36 | 34.05 |
| Closing cash | 9.37 | 8.37 | 105 | 33.76 | 19.58 | 51.76 | 40.27 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -4.0% | +2.0% | +9.9% | +21.7% | +10.0% | -20.5% | - |
| EBITDA growth | -31.8% | -15.2% | +11.7% | +39.0% | +93.0% | +20.0% | - |
| PBT growth | -59.9% | -29.8% | +10.3% | +63.9% | +2086.8% | +9998.0% | +9997.0% |
| Net income growth | -61.3% | -24.7% | +9.9% | +61.9% | +669.6% | +157.2% | - |
| Revenue CAGR (3Y) | +2.5% | +10.9% | +13.7% | +2.1% | - | - | - |
| EBITDA CAGR (3Y) | -13.6% | +9.6% | +44.2% | +47.7% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +4.6% | +12.1% | +16.4% | +16.3% | +12.3% | +0.8% | -3.3% |
| Return on capital employed | +7.3% | +13.3% | +18.9% | +19.7% | +14.6% | +6.3% | +2.8% |
| Return on net worth | +4.4% | +12.4% | +17.3% | +18.1% | +14.9% | +2.3% | -4.0% |
| Debt / equity | 0.55 | 0.56 | 0.49 | 0.48 | 0.79 | 1.17 | 1.31 |
| Long-term debt / equity | 0.14 | 0.13 | 0.12 | 0.15 | 0.26 | 0.33 | 0.33 |
| Interest cover | 50.26 | 26.01 | 18.14 | 16.02 | 25.56 | 101.18 | 236.28 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.87 | 0.99 | 1.07 | 1.08 | 1.02 | 0.98 | 1.20 |
| Inventory turnover | 2.86 | 2.99 | 3.23 | 3.25 | 2.96 | 2.65 | 3.04 |
| Debtors turnover | 2.53 | 3.07 | 4.28 | 4.94 | 3.90 | 3.04 | 3.44 |
| EPS (₹) | 3.04 | 8.32 | 11.06 | 9.98 | 6.63 | 1.98 | (10.42) |
| Dividend per share (₹) | 2.00 | 3.60 | 8.50 | 8.35 | 2.40 | 2.50 | 0.00 |
| Book value per share (₹) | 69.56 | 69.46 | 65.17 | 63.11 | 50.26 | 201.65 | 198.83 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99.06 | 104 | 155 | 112 | 91.08 | 89.80 | 165 | 115 |
| Revenue growth (YoY) | +8.8% | +16.0% | -6.2% | -2.9% | -23.0% | - | - | - |
| Other income | 2.64 | 1.98 | 1.20 | 1.29 | 1.79 | 1.78 | 1.72 | 1.65 |
| Total expenses | 83.39 | 97.52 | 133 | 94.06 | 80.26 | 81.53 | 130 | 93.82 |
| EBITDA | 15.67 | 6.65 | 21.97 | 17.84 | 10.82 | 8.27 | 34.70 | 21.41 |
| EBITDA margin | +15.8% | +6.4% | +14.2% | +15.9% | +11.9% | +9.2% | +21.0% | +18.6% |
| Depreciation | 7.53 | 7.42 | 7.66 | 7.56 | 7.53 | 7.16 | 7.46 | 7.21 |
| Interest | 5.41 | 5.74 | 6.57 | 7.17 | 6.18 | 5.86 | 6.71 | 6.66 |
| Profit before tax | 5.37 | (4.53) | 8.94 | 4.40 | (1.10) | (2.97) | 22.25 | 9.19 |
| Tax | 1.31 | 1.23 | 2.32 | 1.25 | (0.19) | 1.92 | 5.92 | 1.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 462 | 488 | 548 | 493 | 390 | 306 | 387 |
| Revenue growth | -5.4% | -10.9% | +11.2% | +26.4% | +27.5% | -20.9% | - |
| Other income | 6.26 | 6.85 | 10.07 | 5.83 | 4.58 | 5.78 | 2.62 |
| Total expenses | 405 | 393 | 381 | 337 | 285 | 254 | 336 |
| Employee cost | 83.18 | 86.72 | 82.55 | 75.52 | 63.83 | 53.88 | 60.01 |
| EBITDA | 57.28 | 95.54 | 167 | 156 | 105 | 51.56 | 51.24 |
| EBITDA margin | +12.4% | +19.6% | +30.6% | +31.6% | +27.0% | +16.9% | +13.2% |
| Depreciation | 30.17 | 28.92 | 26.81 | 23.84 | 22.41 | 25.36 | 34.50 |
| Interest | 25.66 | 25.57 | 23.59 | 19.44 | 21.33 | 32.26 | 31.43 |
| Profit before tax | 7.71 | 47.90 | 127 | 118 | 66.26 | (0.28) | (12.07) |
| Tax | 4.61 | 14.50 | 32.47 | 29.94 | 17.40 | 0.35 | (3.89) |
| Net profit | 6.45 | 33.53 | 94.51 | 88.77 | 50.15 | 2.43 | (5.90) |
| Net profit margin | +1.4% | +6.9% | +17.2% | +18.0% | +12.9% | +0.8% | -1.5% |
| EPS (₹) | 0.37 | 3.96 | 11.22 | 10.48 | 6.22 | (0.42) | (5.42) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 16.89 | 16.88 | 16.88 | 16.85 | 15.72 | 15.08 | 15.04 |
| Reserves & surplus | 536 | 558 | 558 | 539 | 399 | 312 | 311 |
| Shareholders' funds (net worth) | 553 | 575 | 575 | 556 | 415 | 328 | 326 |
| Secured loans | 237 | 243 | 247 | 156 | 197 | 266 | 307 |
| Unsecured loans | 28.75 | 26.40 | 44.67 | 36.30 | 29.04 | 43.71 | 50.37 |
| Total debt | 265 | 269 | 292 | 192 | 226 | 310 | 357 |
| Total liabilities | 825 | 851 | 869 | 748 | 642 | 648 | 711 |
| Assets | |||||||
| Gross block | 605 | 591 | 546 | 528 | 457 | 412 | 428 |
| Net block | 429 | 438 | 417 | 394 | 342 | 317 | 349 |
| Capital work in progress | 0.45 | 4.35 | 4.64 | 1.82 | 0.98 | 0.11 | 0.12 |
| Investments | 46.66 | 41.42 | 27.69 | 27.46 | 26.99 | 21.00 | 26.33 |
| Inventories | 178 | 196 | 183 | 169 | 151 | 135 | 159 |
| Sundry debtors | 200 | 186 | 160 | 105 | 90.59 | 110 | 134 |
| Cash & bank balances | 6.69 | 4.70 | 102 | 28.96 | 14.76 | 45.32 | 35.91 |
| Loans & advances | 65.80 | 60.87 | 28.13 | 94.35 | 78.12 | 66.94 | 78.08 |
| Total current assets | 450 | 448 | 473 | 397 | 334 | 357 | 407 |
| Total current liabilities | 112 | 118 | 119 | 123 | 97.44 | 83.56 | 114 |
| Net working capital | 338 | 330 | 354 | 274 | 237 | 274 | 293 |
| Total assets | 825 | 851 | 869 | 748 | 642 | 648 | 711 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 4.18 | 94.78 | 15.32 | 9.44 | 40.42 | 35.09 | 2.85 |
| Net cash from operating activities | 72.89 | 64.03 | 113 | 80.51 | 77.49 | 113 | 34.70 |
| Net cash from investing activities | (15.15) | (68.74) | (34.66) | (70.82) | (39.15) | (12.28) | (43.09) |
| Net cash from financing activities | (56.35) | (85.89) | 1.47 | (3.81) | (69.32) | (95.68) | 40.64 |
| Net change in cash | 1.39 | (90.60) | 79.46 | 5.88 | (30.98) | 5.33 | 32.25 |
| Closing cash | 6.69 | 4.70 | 102 | 28.96 | 14.76 | 45.32 | 35.91 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -5.4% | -10.9% | +11.2% | +26.4% | +27.5% | -20.9% | - |
| EBITDA growth | -40.1% | -43.0% | +7.6% | +47.7% | +104.5% | +0.6% | - |
| PBT growth | -83.9% | -62.3% | +7.5% | +78.5% | +9998.0% | +97.7% | - |
| Net income growth | -80.8% | -64.5% | +6.5% | +77.0% | +1963.8% | +141.2% | - |
| Revenue CAGR (3Y) | -2.1% | +7.8% | +21.5% | +8.4% | -8.0% | -9.9% | +3.8% |
| EBITDA CAGR (3Y) | -28.4% | -3.2% | +48.1% | +44.8% | +10.4% | -3.6% | +8.0% |
| Profitability & leverage | |||||||
| Net income margin | +0.7% | +6.8% | +17.3% | +17.9% | +12.5% | -0.2% | -2.1% |
| Return on capital employed | +5.0% | +8.5% | +18.6% | +19.8% | +13.6% | +5.5% | +3.2% |
| Return on net worth | +1.1% | +5.8% | +16.7% | +18.2% | +13.2% | +0.7% | -1.8% |
| Debt / equity | 0.47 | 0.49 | 0.43 | 0.43 | 0.72 | 1.02 | 0.94 |
| Long-term debt / equity | 0.10 | 0.10 | 0.09 | 0.13 | 0.23 | 0.27 | 0.23 |
| Interest cover | 94.65 | 38.38 | 16.77 | 14.74 | 25.70 | 123.13 | 187.75 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.84 | 0.93 | 1.10 | 1.08 | 0.97 | 0.80 | 1.08 |
| Inventory turnover | 2.68 | 2.78 | 3.35 | 3.31 | 2.93 | 2.30 | 2.88 |
| Debtors turnover | 2.59 | 3.04 | 4.44 | 5.42 | 4.19 | 2.78 | 2.95 |
| EPS (₹) | 0.37 | 3.96 | 11.22 | 10.48 | 6.22 | (0.42) | (5.42) |
| Dividend per share (₹) | 2.00 | 3.60 | 8.50 | 8.35 | 2.40 | 0.00 | 0.00 |
| Book value per share (₹) | 65.51 | 68.11 | 68.16 | 65.94 | 52.76 | 216.82 | 216.43 |
To see the full year-wise statements and ratios of Sula Vineyards Limited, buy the company report.
Board of directors of Sula Vineyards Limited
Sula Vineyards has 7 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chetan Rameshchandra Desai | Director | 01 Jun 2018 | 8 Years 4 Months | Current |
| Alok Sureshchandra Vajpeyi Also directs: Conscious Food Private Limited, Av Advisory Private Limited, Institutional Investor Advisory Services India Limited and 1 more | Director | 02 Dec 2020 | 5 Years 10 Months | Current |
| Sangeeta Tanwani | Director | 15 Dec 2021 | 4 Years 10 Months | Current |
| Rajeev Samant Also directs: Ravenna Fashion Private Limited | Managing Director | 26 Feb 2003 | 23 Years 8 Months | Current |
| Anant S Iyer Also directs: Personal Touch Services (India) Private Limited | Director | 12 Nov 2024 | 1 Years 11 Months | Current |
| Deepak Ishwardas Shahdadpuri Also directs: VRB Consumer Products Private Limited, Drums Food International Private Limited, Bakers Circle (India) Pvt Ltd and 5 more | Director | 04 Apr 2024 | 2 Years 6 Months | Current |
Peer comparison
Sula Vineyards Limited is compared with the 7 companies closest to it by revenue in the Food and Beverages industry (Alcoholic Beverages), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Som Distilleries and Breweries Odisha Private Limited | ₹665.96 Cr (FY 2025) | 54.0% | Bhopal, Madhya Pradesh, India | |||
| Kals Breweries Private Limited | ₹650.3 Cr (FY 2025) | 3.0% | Chennai, Tamil Nadu, India | |||
| Sri Chamundeswari Sugars Limited | ₹633.11 Cr (FY 2024) | 1.0% | Bangalore, Karnataka, India | |||
| SNJ Sugars and Products Limited | ₹624.92 Cr (FY 2025) | -37.0% | Andhra Pradesh, India | |||
| Hermes Distillery Private Limited | ₹600.78 Cr (FY 2024) | 18.0% | Raibag, Karnataka, India | |||
| Bapuna Alcobrew Private Limited | ₹580.93 Cr (FY 2025) | 18.0% | Nagpur, Maharashtra, India | |||
| Shiva Distilleries Private Limited | ₹575 Cr (FY 2025) | Coimbatore, Tamil Nadu, India | ||||
| Sula Vineyards Limitedthis company | ₹555.87 Cr (FY 2026) | ₹27.08 Cr | 4.9% | -4.0% | 762 | Mumbai, Maharashtra, India |
To see the full peer comparison of Sula Vineyards Limited, buy the company report.
Auditor
Sula Vineyards Limited is audited by Walker Chandiok & Co LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Walker Chandiok & Co LLP | FY 2023 | 001076N/ N500013 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 24.60%, foreign institutional investors hold 0.70%, domestic institutional investors hold 16.20% and retail and other public shareholders hold 58.50%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 24.60% | 24.60% | 24.40% | 24.40% |
| Public | 75.40% | 75.40% | 75.60% | 75.60% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Mar 2025 | 101081515 | Others | ₹5 Cr | Open | |
| 28 Mar 2025 | 101081839 | Others | ₹5 Cr | Open | |
| 12 Sep 2024 | 100979488 | Axis Bank Limited | ₹45.5 Cr | Open | |
| 18 Jun 2024 | 100951321 | Hdfc Bank Limited | ₹6 Cr | Open | |
| 03 May 2024 | 100928061 | Hdfc Bank Limited | ₹28 Cr | Open |
To see the full charge records of Sula Vineyards Limited, buy the company report.
Total charge records: 73 View all charges
Deals & funding
Sula Vineyards Limited has 84 deals on record (37 secondary share transfers, 26 funding rounds, 19 market trades), with disclosed funding of ₹307.74 Cr; the latest was in September 2025.
Deals on record (5 of 84)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2025 | Market trade | ₹13.72 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Sep 2025 | Market trade | ₹45.65 Cr | Buyer: Musigma Securities, Hrti Private Limited , Graviton Research Capital LLP Seller: Musigma Securities, Hrti Private Limited , Graviton Research Capital LLP |
| Jun 2025 | Market trade | ₹42.95 Cr | Buyer: Graviton Research Capital LLP , Qe Securities LLP Seller: Graviton Research Capital LLP , Qe Securities LLP |
| Feb 2024 | Market trade | ₹729.84 Cr | Buyer: F3 Advisors Private Limited , Morgan Stanley Investment Management, Mansi Share And Stock Advisors Pvt Ltd Seller: Verlinvest Asia Pte. Ltd., Mousserena Lp, F3 Advisors Private Limited |
| Jan 2024 | Market trade | ₹135.53 Cr | Buyer: Graviton Research Capital LLP , Aakraya Research LLP Seller: Graviton Research Capital LLP , Aakraya Research LLP |
To see the full deal history of Sula Vineyards Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Sula Vineyards Limited has 42 court cases on record: 30 filed by Sula Vineyards, 13 filed against it. 16 cases are pending and 26 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 6 | 12 |
| District courts | 15 | 7 | 4 |
Cases on record (5 of 42)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (LPETN) | Filed by the company against Stay Vista Private Limited | Pending |
| Bombay High Court | Court case (CRR) | Filed by the company against Revo Sparklings Private Limited and Ors. | Pending |
| Bombay High Court | Court case (LPETN) | Filed by the company against Seven Peaks Winery Private Limited | Pending |
| Bombay High Court | Court case (CRR) | Filed by the company against Renaissance Winery Private Limited | Pending |
| Bombay High Court | Court case (LPETN) | Filed by the company against Revo Sparklings Private Limited and 1 other | Pending |
To see the full case history of Sula Vineyards Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Sula Vineyards Limited was last rated by Icra on 06 Jan 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 06 Jan 2022 |
To see the full credit ratings and regulatory alerts of Sula Vineyards Limited, buy the company report.
MSME payment delays
Sula Vineyards Limited has 31 MSME Form 1 returns on record between 2013 and 2024, listing 1,530 overdue payments to 107 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 107)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Rajshree Packaging | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Jaipur Rugs Company Limited |
To see the full MSME payment records of Sula Vineyards Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Sula Vineyards has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Artisan Spirits Private Limited | U15122MH2011PTC222280 |
To see the full group structure of Sula Vineyards Limited, buy the company report.
Employees & EPFO
Sula Vineyards Limited has a workforce of 762 employees on its EPFO records as of Mar 21, 2024, across 1 active EPFO establishment.
GST
Sula Vineyards has 10 GST registrations: 4 active and 6 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCN7126Q1ZY | Maharashtra | Active | 01 Jul 2017 |
| 07AABCN7126Q2ZZ | Delhi | Active | 01 Jul 2017 |
| 29AABCN7126Q1ZU | Karnataka | Active | 01 Jul 2017 |
| 05AABCN7126Q2Z3 | Uttarakhand | Active | 13 Aug 2020 |
To see the full GST registrations and return filing status of Sula Vineyards Limited, buy the company report.
Recent activity
Sula Vineyards Limited has 50 board changes on record since 2003: 29 appointments and 21 cessations. The latest: Chaitanya Kamal Rathi was appointed as Additional Director on 06 Aug 2026.
190 earlier events are in the company report.
News
Frequently asked questions
Sula Vineyards is an active public limited company based in Mumbai, Maharashtra, India. The company works in alcoholic beverage manufacturing and distribution, within the food and beverages industry. It was incorporated on 26 February 2003 (23+ years old) and is registered under CIN L15549MH2003PLC139352. Listed on BSE: 543711 and NSE: SULA.
Sula Vineyards reported revenue of ₹555.87 Cr for FY 2025-26 (down 4% YoY) based on consolidated financials.
Sula Vineyards has 7 current directors:
- Rajeev Samant - Managing Director
- Chetan Rameshchandra Desai - Director
- Alok Sureshchandra Vajpeyi - Director
- Sangeeta Tanwani - Director
- Anant S Iyer - Director
- Deepak Ishwardas Shahdadpuri - Director
- Chaitanya Kamal Rathi - Additional Director
The latest financial statements of Sula Vineyards on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 25 June 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Sula Vineyards is 27AABCN7126Q1ZY, registered in Maharashtra. The company has 10 GST registrations in all, of which 4 are active and 6 are cancelled or inactive. Other active GSTINs include 07AABCN7126Q2ZZ (Delhi), 29AABCN7126Q1ZU (Karnataka), 05AABCN7126Q2Z3 (Uttarakhand).
The CIN (Corporate Identification Number) of Sula Vineyards is L15549MH2003PLC139352. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Sula Vineyards is a listed company as per MCA records. Its shares are listed on both BSE (code: 543711) and NSE (symbol: SULA).
Sula Vineyards has 42 court cases on record: 30 filed by the company and 13 filed against it. 16 are pending. Most are in the high courts.
Sula Vineyards was incorporated on 26 February 2003, making it 23+ years old. It is registered with the Registrar of Companies, Mumbai.
Sula Vineyards has 84 deals on record (37 secondary share transfers, 26 funding rounds, 19 market trades), with disclosed funding of ₹307.74 Cr; the latest was in September 2025.
The peers of Sula Vineyards by revenue are Som Distilleries and Breweries Odisha Private Limited, Kals Breweries Private Limited, Sri Chamundeswari Sugars Limited, SNJ Sugars and Products Limited, Hermes Distillery Private Limited and 2 more, all in the Food and Beverages industry (Alcoholic Beverages), with the same principal business activity (food, beverages and tobacco products).
Chaitanya Kamal Rathi was appointed as Additional Director on 06 Aug 2026. Anant S Iyer was appointed as Director on 12 Nov 2024. Anand Arjun ceased to be Nominee Director on 04 Apr 2024. Sula Vineyards has 50 board changes on record in total.