Introduction:
Alcohol stock reported a 37.29% decline in Q2 net profit, dropping to ₹14.48 crore from ₹23.09 crore year-over-year. Revenue also fell slightly by 1.13% to ₹141.21 crore, reflecting broader market challenges.
Share Price movement of Sula Vineyards:
As of today, November 13, Sula Vineyards’ share price opened at ₹392.00, reaching an intraday high of ₹402.70. It currently stands at ₹382.25, marking the day’s low, reflecting significant volatility and a downward trend in the session.
Sula Vineyards Q2 Results:
Sula Vineyards, an alcohol stock, reported a significant 37.29% drop in net profit for Q2, with earnings of ₹14.48 crore, down from ₹23.09 crore in the same period last year. The company’s quarterly revenue also slightly decreased by 1.13% to ₹141.21 crore.
The subdued performance in the quarter was primarily attributed to a slowdown in discretionary spending and operational challenges in key markets. Notably, policy uncertainties in Karnataka and issues with the Delhi Excise portal impacted sales in the latter part of the quarter.
Despite recent setbacks, Sula Vineyards is optimistic about a rebound in demand, especially with the onset of the festive season. The company’s share price closed marginally higher at ₹414.65 on Tuesday, though it has declined over 15% this year.
Recent news About Sula Vineyards:
Sula Vineyards recently reported a 37.29% decrease in Q2 net profit, falling to ₹14.48 crore. Revenue dipped by 1.13% due to a slowdown in discretionary spending and operational issues in key markets. Despite this, the company remains hopeful for a recovery during the festive season.
Ace investor holding of Sula Vineyards:
Ace investor Mukul Agrawal holds a significant stake in Sula Vineyards, owning 20,00,000 shares valued at ₹78.3 crore as of September 2024, representing a 2.40% holding in the company. This reflects his strong confidence in the winery’s growth potential.
Eshaanika Raje, an ace investor, holds a notable stake in Sula Vineyards with 1.26% ownership, amounting to 10,64,585 shares valued at ₹41.8 crore, reflecting confidence in the company’s growth potential in the winery sector.
Stock performance of Sula Vineyards for Period of 1 week, 6 months and 1 year:
Over the past week, Sula Vineyards’ stock has decreased by 4.41%. Over the last six months, the decline has been more pronounced at 17.5%. Additionally, the stock has experienced a negative return of 14.3% over the past year.
Shareholding pattern of Sula Vineyards:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 24.66 | 25.47 | 26.18 |
| FII | 10.6 | 12.03 | 13.85 |
| DII | 21.68 | 22.23 | 22.61 |
| Retail & others | 43.04 | 40.26 | 37.36 |
About Sula Vineyards Industries:
Sula Vineyards is a leading Indian winery renowned for pioneering the Indian wine industry. Established in the Nashik region, it focuses on producing premium wines across various categories, catering to both domestic and international markets with its innovative and quality-driven approach.
