in Q4 FY24, profit before tax stood at Rs 18.72 crore, down 6.77% YoY.

EBITDA stood at Rs 33.3 crore in Q4 FY24, registering the growth of 5% as compared with Rs 31.7 crore posted in same quarter last year. EBITDA margin reduced by 114 bps to 25.3% in Q4 FY24 as against 26.4% in Q4 FY23.

The company’s own brands sales increased 9.1% to 112.9 crore in the quarter ended 31 March 2024 from Rs 103.5 crore posted in Q4 FY23. In Q4, the wine tourism business posted a strong revenue growth of 31.3% YoY, at Rs 16.4 crore backed by setting new records for visitor numbers, revenue, and tastings over the long Republic day weekend.

During the quarter, revenue from Elite & Premium wines led the overall growth with 14.3% YoY growth.

On full year basis, the company’s consolidated net profit jumped 11% to Rs 93 crore on 10.7% increase in net revenue to Rs 616.4 crore in FY24 over FY23.

Rajeev Samant, MD& CEO, Sula Vineyards, said, “Our premiumization efforts have succeeded in raising our Elite and Premium wine share to an all-time high of 75.1% in Q4, up from 71.7% a year ago. Our Elite and Premium wines achieved 15.5% growth this year, contributing to an over 110 bps increase in our EBITDA margin to an all-time high in FY24.

Our wine tourism revenues grew in double digits, for the fifth quarter in a row. Wine tourism is a top priority and we are expanding fast. Last week we opened Milestone Cellars by Sula, our first standalone Tasting Room/Wine Bar outside our own winery campuses, located a stone’s throw from Nashik airport. We have also signed a new resort next to our York Winery slated to open in mid-2025, which will be our first with convention facilities.

We are pleased to announce the completion of ND wines acquisition in record time. ND wines is now a part of Sula and the site has tremendous wine tourism potential and work is about to begin on expanding the current 120sq ft bottle shop to a 3,600 sq ft wine tourism destination less than 50 km from the Gujarat border.”

Meanwhile, the company’s board has recommended a final dividend of Rs 4.50 per share for FY24. The record date for dividend will be 22 May 2024.

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.