This alcohol beverages stock rose by 2.25 percent after the HDFC mutual fund increased their stake in the company from 6.55 percent to 8.56 percent.
At 1.09, 3rd October shares of Sula Vineyards were trading at Rs. 474.80 per share which is 2.23 percent up from previous closing price of 464.45 per share.
Such bullish stock price movements are observed after the company disclosed on Bombay stock exchange (BSE) filing that HDFC mutual fund which was holding about 6.55 percent stake in the company increased their stake by 2.01 percent. As of 28th september 2023, the aggregate holding of the schemes of HDFC mutual fund in the company is 8.56 percent of the paid up equity share capital of the company (Paid up Equity share capital being Rs. 16,87,55,818 comprising 8,43,77,909 equity shares of Rs. 2 each).
Looking at the financial statements, company’s revenue increased by 21.64 percent to Rs. 516.27 crore in FY 2022-23 from Rs. 424.41 crore in FY 2021-22, in the same time period company’s profit increased by 61.16 percent to Rs. 84.03 crore from 52.14 crore.
Talking about the financial ratios, the company reported return on equity(ROE) of 18.19 percent and return on capital employed(ROCE) of 20.04 percent in the last financial year.
Sula vineyards is a winery and vineyard based in Nasik, Maharashtra, they are India’s largest wine producer and seller as of march 31, 2022. The company has a portfolio of several brands including Rasa, Dindori, The source, satori etc.
Written by Vinit Israni
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