NEWS
INDIA’ S SULA VINEYARDS REPORTED HIGHEST-EVER QUARTERLY REVENUE
By Susan Lewis
25-7-2024
Source: Sula Vineyards
Sula Vineyards, India’s largest wine producer, announces highest-ever revenue in the second quarter of 2024 and plans operational expansion in Maharashtra with a new bottling facility.
The wine maker said revenue from its own brands increased by 2.7 percent year-on-year to INR1.044 billion (USD152.5 million), up from INR1.016b in the same quarter of 2023.
Total revenue rose by 9.7 percent to INR1.296b, compared to INR1.182b same period last year.
However, revenue from wine tourism declined by 2.5 percent year-on-year, dropping to INR113 million from INR115m in April to June last year.
“We are pleased to announce our highest-ever quarter net revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions,” said CEO of Sula Vineyards Rajeev Samant.
Sula Vineyards also announced that it will start bottling at the N.D. Wines facility in Maharashtra, which the company acquired earlier.
Over the last 20 years, Sula Vineyards has been a key player in developing the Indian wine industry. The company currently has a portfolio of over 50 labels across more than 10 brands.
The winery has helped established Nashik as a premium wine region through these years and placed India on the global wine map.
(the writer can be contacted at: info@thewinechronicle.com)
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