Alcohol Stock which is India’s largest wine producer with a 60 percent market share in premium wines jumped 2 percent in the day’s trade following the continuation of the Wine Industrial Promotion Scheme by the Maharashtra Government.
With a market capitalization of Rs. 4,752 Crores, the shares of Sula Vineyards Limited were trading at Rs. 563.05, up 1.45 percent from its previous day’s close price of Rs. 555.10
As per the latest filing of Sula Vineyards Limited the Maharashtra Government has issued a GR for the continuation of the Wine Industrial Promotion Scheme for a period of 8 years.
In addition to this as per specific policies in Maharashtra, a company that pays approximately Rs 70-80 crores of Value Added Tax (VAT) in the state will get around 80 percent of the amount as a refund. Aligning the same with Sula’s majority turnover coming from Maharashtra, the scenario seems favorable for the company.
Sula Vineyards Limited is engaged in the business of producing and selling alcoholic beverages such as wines and spirits in more than 30 countries. Some of the famous brands sold by Sula Vineyards Limited include Satori, Madera, Rasa and many more
It is India’s largest wine producer with a 60 percent market share in premium wines. It operates through two business categories i.e., wine tourism and wine Business.
As of Q3FY24 Sula Vineyards Limited generated 77 percent of its revenue from Elite & Premium brands and 23 percent from Economy & Popular.
Its revenue from operations grew by 26.37 percent from Rs. 390 Crores in FY22 to Rs. 493 Crores in FY23, accompanied by increasing profits of Rs. 49 Crores to Rs. 88 Crores.
Written by: Bharath K.S
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