SULA

** Shares of Indian winemaker Sula Vineyards SULA.NS down ~4% at 350.3 rupees

** Co reports a 35% fall in Q3 profit on lower demand amid a slowdown in urban consumption and election-related disruptions in Maharashtra state, a key market for co

** Total revenue down 0.4% in Q3, while total expenses up 11.4%

** Sula gets about 90% of its revenue from urban markets

** Sula's profit margin contracts to 24.8% from 33.5% last year

** Including session's decline, shares have fallen 45.5% y/y

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 5 (Reuters) - India's biggest winemaker Sula Vineyards SULA.NS reported a 35% fall in third-quarter profit on Wednesday, as demand took a hit from a slowdown in urban consumption.

Sula's consolidated net profit fell to 280.6 million rupees ($3.2 million) in the quarter ending Dec. 31, from 429.8 million rupees a year ago.

Urban consumption fell to a two-year low in November, as persistently high food inflation, subdued wage growth and erratic weather patterns led consumers to pull back discretionary spending. Sula gets about 90% of its revenue from urban markets.

Sales were also impacted due to elections in the western state of Maharashtra, which is among Sula's key markets, during the quarter, the company said.

The winemaker's own brands segment, which contributes about 90% of the total revenue, saw a marginal 1% rise in revenue during the quarter.

Its smaller wine tourism segment saw a 12% increase in revenue.

Total revenue fell 0.4%, while total expenses rose about 11.4% from a year earlier.

Sula's core profit margin contracted to 24.8% from 33.5% a year ago.

($1 = 87.3580 Indian rupees)

(Reporting by Ananta Agarwal and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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Dec 12 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX INITIATED INSPECTION IN CO'S MUMBAI OFFICE

• SULA VINEYARDS- SEARCH IN CO'S OFFICE CONCLUDED ON DEC 11, NO UNTOWARD INCIDENCE OR BEHAVIORAL ISSUE

• SULA VINEYARDS- ASSISTANT COMMISSIONER OF STATE TAX'S SEARCH IN CO'S PPOB IN NASIK CONTINUED

Source text: ID:nBSE2kcnF8

Further company coverage: SULA.NS

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** Sula Vineyards SULA.NS slips 8% to 382.4 rupees, lowest since April 28, 2023

** Wine maker's Q2 profit falls 37%, as slowdown in discretionary spending, especially in urban areas, dampened demand

** Rev drops 1.1%, while total expenses up ~10%

** SULA trading below key 50-, 100-, 200- day moving avg

** Stock marks busiest day in a week, with over 260,000 shares traded

** SULA loses 21% YTD, vs 29% surge in peer United Spirits UNSP.NS

(Reporting by Aleef Jahan in Bengaluru)

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Nov 12 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS Q2 CONSOL NET PROFIT 144.8 MILLION RUPEES

• SULA VINEYARDS Q2 CONSOL REVENUE FROM OPERATIONS 1.41 BILLION RUPEES

Source text: ID:nBSE6KLHq0

Further company coverage: SULA.NS

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Oct 11 (Reuters) - Sula Vineyards Ltd SULA.NS:

• Q2 NET REVENUE DOWN 1.3% Y/Y

Source text for Eikon: ID:nBSE39X5jB

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Sept 19 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS LAUNCHES SULA MERLOT

Source text for Eikon: ID:nNSE6YFSGp

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BENGALURU, Aug 7 (Reuters) - India's Sula Vineyards SULA.NS reported a rise in quarterly profit on Wednesday as consumers snapped up more of its cheaper wine, outpacing feeble demand for its premium offerings due to national elections and heatwaves during the period.

The country's biggest wine maker's consolidated net profit rose 7% year-on-year to 146.3 million rupees ($1.7 million) for the quarter ended June 30.

Its profit had fallen in the previous quarter.

About 70% of the company's sales come from its key states of Maharashtra and Karnataka. Sula is also expanding its operations in other states including Telangana and Rajasthan, where sales have picked up pace.

Sula's revenue grew more than 10% during the quarter to 1.28 billion rupees, its second straight quarter of growth, aided by a 24.4% jump in its cheaper wine segment.

Its elite and premium segment, however, logged a 7.4% decline in sales volume. The business accounts for 71% of its revenue.

National elections led to restrictions on the alcohol beverage industry and, this, coupled with heatwaves, hurt the company's sales during the quarter, CEO Rajeev Samant said in a statement.

Sula, the only listed winemaker in India, did not provide the sales volume of its cheaper segment or the revenue numbers for its more expensive segment.

Wine sales make up about 88% of its net revenue.

The smaller wine tourism segment logged an 2.3% fall in revenue as fewer people visited its vineyards during the quarter due to heatwaves.

In July, the company said it plans to broaden its wine tourism business and will launch a resort at York Winery, situated at its Nashik property in Maharashtra in 2026.

($1 = 83.9230 Indian rupees)

(Reporting by Varun Hebbalalu and Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)

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July 25 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS - GOT SHOW CAUSE CUM DEMAND NOTICE FROM TAX AUTHORITY

• SULA VINEYARDS LTD - IMPACT ON FINANCIAL ACTIVITIES 40.2 MILLION RUPEES

Further company coverage: SULA.NS

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July 10 (Reuters) - Sula Vineyards Ltd SULA.NS:

• Q1 NET REVENUE UP 9.7% Y/Y

• WILL BEGIN BOTTLING AT UNIT IN MAHARASHTRA

• TRANSITION ECONOMY, POPULAR BRANDS TO THIRD-PARTY SALES FORCE MODEL IN MAHARASHTRA

• STRATEGY WILL ALLOW CO'S SALES FORCE TO FOCUS ON ELITE AND PREMIUM BRANDS

Source text for Eikon: ID:nBSE4Rj7Qy

Further company coverage: SULA.NS

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By Kashish Tandon

BENGALURU, June 27 (Reuters) - Indian whisky maker Allied Blenders and Distillers' ALLE.NS $180-million IPO was oversubscribed on Thursday but fell short of the blowout demand for recent issues amid concerns about its growth prospects in an increasingly competitive liquor market.

The IPO, the first by an alcohol company since Sula Vineyards' SULA.NS in 2022, received bids for 924.9 million shares, worth up to $3.12 billion and about 23 times the 39.4 million shares on offer, exchange data showed.

In contrast, all the four previous IPOs on the main exchange this month, including engineering firm DEE Development Engineers DEEV.NS, were oversubscribed by around hundred times.

Most of the bids came in the final hours of bidding on Thursday, with institutional buyers bidding for 50 times the shares allotted, while retail investors bid for about four times the allotment.

Allied Blenders, which sells 'Officer's Choice' and 'Sterling Reserve' whisky, is going public in a booming Indian IPO market.

A total of 129 companies have raised $4.32 billion in IPOs so far this year, more than double the amount raised by this time last year, per LSEG data, with the domestic equity market at an all-time high on the prospect of healthy economic growth.

Allied Blenders faces stiff competition in India's $33 billion spirits market, including from Radico Khaitan's RADC.NS 'Rampur Whisky' and Diageo-owned United Spirits' UNSP.NS 'Johnnie Walker' and 'Black Dog'.

The company's share of the premium portfolio is relatively lower than its peers, meaning its growth rates may not be that strong, said Karan Taurani, an analyst at Elara Capital.

Taurani does not expect the stock to rise much when it makes its market debut.

Allied Blenders ranked third in terms of whisky sales in India in fiscal 2023, according to its prospectus, trailing United Spirits and 'Chivas Regal'-maker Pernod Ricard PERP.PA.

Its core profit (EBITDA) margin is also less peers', Taurani noted.

Anchor investors, including domestic mutual funds, had already subscribed to shares worth 4.5 billion rupees.

The offer included a fresh issue worth 10 billion rupees, while co-chairperson Bina Chhabria and vice chairperson Resham Chhabria Hemdev were seeking to up to 5 billion rupees in stock.

($1 = 83.5850 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

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** Shares of Sula Vineyards SULA.NS down 4.1% at 519.8 rupees, on track for worst day since March 13

** Co's Q4 profit fell 5% YoY

** Stock down ~5% so far this week, set for worst week since late Feb

** United Breweries UBBW.NS posted 8x surge in Q4 profit

** United Spirits UNSP.NS, Radico Khaitan RADC.NS yet to report

** SULA up 4.3% YTD; UBBW and UNSP each up ~11% and RADC up 1.3%

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, May 8 (Reuters) - Sula Vineyards SULA.NS, India's biggest wine maker by revenue, reported a 5% drop in fourth-quarter profit on Wednesday, as mounting expenses overshadowed steady demand for its premium brands such as Rasa and Dindori.

The Mumbai-headquartered company's consolidated net profit fell to 135.5 million rupees ($1.6 million) in January-March from 142.4 million rupees a year ago.

Rapid growth of restaurants and increasing incomes have nudged India's rising well-to-do young crowd towards wine consumption.

Sula's revenue rose nearly 10% to 1.32 billion rupees in the quarter on a 14% jump in wine sales.

However, the cost of raw materials, which include grapes, sugar and yeast, surged nearly 9% to 888.8 million rupees, hurting its profit.

The winemaker's earnings before interest, tax, depreciation and amortization margin contracted to 25.3% from 26.4% a year ago.

The company's wine tourism segment grew more than 31%.

"Wine tourism is a top priority and we are expanding fast," CEO Rajeev Samant said in a statement.

Sula recommended a final dividend of 4.50 rupees per share. Its shares closed up 1% ahead of results.

($1 = 83.4700 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)

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** Shares of Sula Vineyards SULA.NS rise as much as 5.1% to 584 rupees; last up 2.4%

** Indian winemaker said Q4 sales for its own brands reported a growth of 9% y/y and 11% for FY24 over FY23

** Wine tourism Q4 revenue rose 31% y/y and 22% for FY24 over FY23

** More than 1.1 mln shares change hands by 10:16 a.m. IST, 1.8x the 30-day avg

** SULA up 14% YTD, while peers United Spirits UNSP.NS, United Breweries UBBW.NS and Radico Khaitan RADC.NS are up between 0.8% and 3.2%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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April 8 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS LTD - SULA VINEYARDS RECORDS DOUBLE-DIGIT REVENUE GROWTH IN Q4 AND FY24; ANNOUNCES N D WINES ACQUISITION

• SULA VINEYARDS LTD - Q4 NET REVENUE UP AROUND 10% YOY

• SULA VINEYARDS LTD- ANNOUNCES ACQUISITION OF N D WINES

Source text for Eikon: ID:nBSE6XfRSR

Further company coverage: SULA.NS

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April 4 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SULA VINEYARDS - APPROVED EXECUTION OF SHARE PURCHASE AGREEMENT WITH SHAREHOLDERS OF N D WINES

• SULA VINEYARDS LTD - COST OF ACQUISITION NOT EXCEEDING 140 MILLION RUPEES

Source text for Eikon: ID:nBSE5wH0zN

Further company coverage: SULA.NS

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** Shares of Sula Vineyards SULA.NS up 3.8% at 543 rupees, on track for third straight day of gains

** Winemaker says Maharashtra state government sets aside demand notice of 1.16 billion rupees ($14 mln) from Feb. 2018

** Stock breaches 100-day moving avg

** Stock up 54% in last 12 months; YTD, it is up 8% so far

($1 = 82.8900 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of India's largest wine producer Sula Vineyards SULA.NS up 2.8% at 572.60 rupees

** SULA says grape harvest in 2024 "shaping up to be excellent" in terms of quantity and quality for fourth straight year, with harvest setting new record of more than 10,500 tons

** Adds it is set to open its first tasting room and bottle shop outside its wineries in Q1 FY25

** Stock eyes fifth straight quarter of gains

** Stock up 14.6% YTD, after a 50.3% rise in 2023

(Reporting by Rama Venkat in Bengaluru)

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Feb 20 (Reuters) -

• VERLINVEST ASIA SOLD ENTIRE 8.34% STAKE IN SULA VINEYARDS - EXCHANGE FILING

Source text for Eikon: ID:nBSE7yMkx2

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** Shares of Sula Vineyards SULA.NS down 6.9% at 574.50 rupees

** Investment firm Verlinvest Asia PTE is selling its entire 8.34% stake in Sula for $52 mln, TV channel ET Now reported on Friday

** Verlinvest and Sula did not immediately respond to Reuters request for comment

** Verlinvest had invested in Sula in 2010, as per its website

** Sula shares gained over 50% in 2023 and up 15.5% YTD

(Reporting by Sethuraman NR in Bengaluru)

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Feb 16 (Reuters) -

• VERLINVEST TO OFFLOAD 8.34% STAKE IN SULA VINEYARDS WORTH ABOUT $52 MN - ET NOW

Source text : https://bit.ly/3SJN3KX

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BENGALURU, Feb 13 (Reuters) - Sula Vineyards, India's biggest wine manufacturer SULA.NS, reported a more than 9% rise in third-quarter profit on Tuesday, helped by increased demand for its premium brands and wine tourism business.

The Mumbai-headquartered company said its consolidated net profit rose to 429.8 million rupees ($5.2 million) from 392.8 million rupees year ago.

Its wine segment, which houses premium brands such as Dindori and Rasa, reported a nearly 4% rise in revenue during the quarter. This is Sula's biggest segment and accounts for 89% of the topline.

Its smaller wine tourism segment, logged an 16% rise in revenue as more people visited the company's vineyards, located in the cities of Nashik and Bengaluru, especially over the long Christmas weekend.

Total revenue rose 4% to 2.18 billion rupees, the company said.

Its margins on earning before interest, tax, depreciation and amortization (EBITDA) expanded to 33.7% from 31% a year ago.

Additionally, Sula declared an interim divided of 4 rupees per share for the financial year 2024.

Shares of Sula, which rose over 7% during the December quarter, closed up nearly 5% ahead of the results.

($1 = 82.9898 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)

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** Shares of Sula Vineyards SULA.NS surges 17% to hit record high for second straight session

** India's largest wine producer hit all-time high in previous session after Maharashtra state government revived plan to subsidise wines made and sold in the state

** Brokerage CLSA says Maharashtra reinstating subsidy is positive for SULA as the state, co's biggest market, accounts for almost half of its revenue

** With major distraction for investors removed, focus can now be on long-term opportunity for wine consumption, wine tourism in India - CLSA

** CLSA upgrades rating on stock to 'buy', raises PT to 863 rupees from 571 rupees

** SULA up 28.3% in six sessions so far this year; it climbed 50.3% in 2023

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** Shares of Sula Vineyards SULA.NS rise as much as 14.1% to a record 567.95 rupees; sees best day in nearly 1 year

** Maharashtra govt to revive the Wine Industrial Promotion Scheme for five years under which wineries are given 16% rebate on 20% of value added tax, Hindustan Times reports

** Report adds, govt approved rebate refund to wineries for last four years

** SULA did not immediately respond to a Reuters query on potential gains from tax refund

** Stock sees busiest day since Aug. 31 when it fell about 3% on reports of Verlinvest looking to sell up to 12.56% stake in co via a block deal

** Trading vol at ~7.8 mln shares, 15.9x the 30-day avg

** Stock up ~50% in 2023

(Reporting by Dimpal Gulwani)

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** Shares of Sula Vineyards SULA.NS rise as much as 7.7% to 512 rupees, highest since Aug. 30

** Stock marks sharpest intraday pct gain since July 31

** Winemaker says wine tourism business has set new records for visitor numbers, revenues and tastings over long Christmas weekend

** Visitor numbers set a single-day, two-day and three-day record with over 12,000 visitors from Dec. 23rd to 25th

** Stock witnessing its most active trading session since Aug. 31 with more than 3.3 mln shares change hands by 1:50 p.m. IST, 11.5x the 30-day avg

** Avg rating of the three analysts on stock close to equivalent of "buy", median PT is 550 rupees - LSEG data

** Stock up ~51% YTD

(Reporting by Ashish Chandra in Bengaluru)

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Nov 29 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SEES ZERO IMPACT OF RECENT UNSEASONAL RAINS ON ITS BUSINESS

Source text for Eikon: ID:nBSE360dw0

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Nov 9 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SEPT-QUARTER CONSOL NET PROFIT 230.9 MILLION RUPEES VERSUS 195.1 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.43 BILLION RUPEES VERSUS 1.28 BILLION RUPEES

Source text for Eikon: ID:nBSE9G830n

Further company coverage: SULA.NS

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** Shares of wine producer and seller Sula Vineyards SULA.NS up as much as 3.95% at 485 rupees, their highest since Sept. 21

** If gains hold, stock on track to rise for third straight session - its longest winning streak since Aug. 24

** Co says estimated net revenue from own brands in Q2FY24 up 14% y-o-y to 1.16 bln rupees ($13.95 mln)

** SULA is India's largest winemaker with over 50% share in the domestic wine market

** Co says "anticipating a strong harvest once again despite the irregular monsoons, which bodes very well for meeting the increasing demand for our Elite and Premium wines"

** More than 387,000 shares traded by 9:36 a.m. IST, 0.4x their 30-day moving avg

** Up to last close, stock up 40.7% YTD

($1 = 83.1325 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

Oct 11 (Reuters) - Sula Vineyards Ltd SULA.NS:

• SALES UPDATE Q2 & H1 FY24

• Q2 NET REVENUE UP 11% YOY

• Q2 NET REVENUE UP AROUND 11% YOY; H1 NET REVENUE UP AROUND 15% YOY

• ANTICIPATING STRONG HARVEST ONCE AGAIN DESPITE IRREGULAR MONSOONS

• ELITE AND PREMIUM OWN BRANDS LEAD WAY; Q2 UP AROUND 18% YOY; H1 UP AROUND 24% YOY

Source text for Eikon: ID:nBSE3tV0vK

Further company coverage: SULA.NS

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Sept 4 (Reuters) - Sula Vineyards Ltd SULA.NS:

• VERLINVEST ASIA PTE LTD CUTS STAKE IN SULA VINEYARDS TO 8.34% FROM 20.90% - EXCHANGE FILING

Further company coverage: SULA.NS

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