Sula Vineyards Q2 FY27 Results: Consolidated Net Profit ₹8.09 Crore on Total Income of ₹146 Crore
- Earnings
- wine and spirits
Reviewed byRachit TripathiBlacklitt Research
Sula Vineyards (NSE: SULA) reported consolidated total income of ₹146.39 crore and net profit of ₹8.09 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹126.89 crore and net profit of ₹6.14 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹146.39 crore, up 4.2% YoY and 18.9% QoQ
- Net profit and EPS: ₹8.09 crore, up 34.4% YoY; basic EPS ₹0.95
- Finance costs: ₹7.16 crore, down 16.3% YoY and 0.3% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹126.89 crore, up 4.3% YoY and 16.1% QoQ
- Net profit and EPS: ₹6.14 crore, up 94.9% YoY; basic EPS ₹0.73
- Finance costs: ₹5.70 crore, down 20.5% YoY and up 5.4% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 146.39 | 140.49 | +4.2% | 123.17 | +18.9% | |
| Revenue from operations | 145.44 | 139.66 | +4.1% | 120.79 | +20.4% |
| Other income | 0.95 | 0.83 | +14.5% | 2.38 | -60.1% |
| 8.09 | 6.02 | +34.4% | 1.06 | +663.2% | |
| Profit before tax | 10.92 | 8.27 | +32.0% | 1.52 | +618.4% |
| Finance costs | 7.16 | 8.55 | -16.3% | 7.18 | -0.3% |
| Depreciation | 10.38 | 9.47 | +9.6% | 10.28 | +1.0% |
| Net profit margin | 5.53% | 4.29% | +1.24 pp | 0.86% | +4.67 pp |
| EPS, basic (₹) | 0.95 | 0.71 | +33.8% | 0.13 | +630.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income. Consolidated net profit rose 34.4% YoY to ₹8.09 crore while total income rose 4.2%, and profit before tax rose 32.0%. Revenue from operations grew 4.1%, slower than other income, which rose 14.5% to ₹0.95 crore. Other income is 0.6% of total income this quarter and 8.7% of profit before tax of ₹10.92 crore.
Finance costs fell 16.3% YoY to ₹7.16 crore, which is 4.9% of total income. Depreciation of ₹10.38 crore rose 9.6% YoY. The tables show these figures side by side; the filing does not link them to the profit change.
The company says it sold its Mumbai office property in the quarter ended 30 Jun 2026 for ₹27.00 crore and recognised a profit of ₹1.79 crore in other income in that quarter.
The notes say that the business is seasonal, that revenue, costs and profits do not accrue evenly over the year, and that quarterly results may vary and are not strictly comparable. The quarter is compared here only with the same quarter a year before and with the quarter immediately before, as the tables do.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 126.89 | 121.65 | +4.3% | 109.29 | +16.1% | |
| Revenue from operations | 125.33 | 120.26 | +4.2% | 106.65 | +17.5% |
| Other income | 1.56 | 1.29 | +20.9% | 2.64 | -40.9% |
| 6.14 | 3.15 | +94.9% | 4.06 | +51.2% | |
| Profit before tax | 8.36 | 4.40 | +90.0% | 5.37 | +55.7% |
| Finance costs | 5.70 | 7.17 | -20.5% | 5.41 | +5.4% |
| Depreciation | 7.53 | 7.56 | -0.4% | 7.53 | 0.0% |
| Tax expense | 2.22 | 1.25 | +77.6% | 1.31 | +69.5% |
| Net profit margin | 4.84% | 2.59% | +2.25 pp | 3.71% | +1.12 pp |
| EPS, basic (₹) | 0.73 | 0.38 | +92.1% | 0.48 | +52.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The company is an alcoholic beverage maker, with market value of ₹1,163 crore at the 05 Nov 2026 close of ₹137.77 a share. Paid-up equity share capital is ₹16.89 crore at face value of ₹2 each.
In the six months to 30 Sep 2026 the company paid a dividend of ₹16.87 crore, and the standalone statement shows a loan of ₹47.85 crore given to subsidiaries. The filing does not state a dividend for the quarter.
Inference
The board approved two plans in this filing: diversification into de-alcoholised wine made from the company's own wine, subject to laws and approvals, and a 30 to 40 room hotel at York Winery, Nashik, to be built by its wholly owned subsidiary Artisan Spirits Private Limited. The company says the hotel will add about 20% to its existing 155 keys and that the investment is approximately ₹25 crore, funded through internal accruals and borrowings, with the addition due by March 2028.
The filing does not say the expected revenue or margin of either plan, the amount of borrowings to be used for the hotel, or when the capital spend will occur.
Filed with BSE on . Reference: Original filing (PDF)
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