Sula Vineyards Limited (NSE: SULA), India’s largest wine producer, announced its financial results for Q4 and FY26, reporting 7% year-on-year revenue growth in Q4 FY26. The performance was driven by improved traction in Own Brands and strong double-digit growth in the company’s Wine Tourism business.
Wine Tourism revenue stood at INR 23.9 crore in Q4 FY26, marking a 17% year-on-year increase. This growth was supported by an 11% rise in footfalls and a 22% increase in room revenue, following the launch of Sula’s third resort, The Haven by Sula.
Talking about the same, Rajeev Samant, CEO, Sula Vineyards, said, "I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to
growth with revenue up 7% YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism. Within Own Brands, our Elite & Premium portfolio continued to lead the mix, anchored by strong double-digit growth in The Source and RASA. Regionally, Telangana, Uttar Pradesh, and Kerala delivered robust growth,while our two largest markets - Maharashtra and Karnataka, are seeing a progressively
improving trend."
The company also reported strong momentum in its Elite and Premium portfolio. Sales in this segment grew 11% year-on-year in Q4 FY26, led by double-digit growth in The Source and RASA. The share of Elite and Premium wines increased by 400 basis points year-on-year to 79%, reflecting continued consumer preference for premium wine offerings.
EBITDA was marginally lower year-on-year, mainly due to higher blended grape costs. The company attributed this to a higher mix of wine grapes compared with table grapes. The previous year’s quarter had also included a one-time gain of INR 3 crore related to the pricing impact on closing inventory in Karnataka.
Sula Vineyards Limited continues to hold a leadership position in India’s wine industry, commanding more than 50% share of the domestic premium wine market. With over 50 labels across multiple price points, the company has established a strong presence across wine categories.
The company is also a pioneer in wine tourism in India. Its Nashik campus attracts more than 3.5 lakh visitors annually and is positioned among the most visited vineyard destinations globally. Sula’s hospitality portfolio includes three luxury resorts in Nashik — The Source, Beyond, and The Haven — with a combined inventory of 154 keys.
In addition, Sula operates four standalone wine-themed restaurants and tasting rooms, located alongside its wineries in Nashik and near Bengaluru, Karnataka. These assets continue to strengthen the company’s integrated wine and hospitality model.
About Sula Vineyards Limited
Sula Vineyards Limited is India’s largest wine company and a market leader in the domestic premium wine segment. The company offers a diverse portfolio of more than 50 labels across multiple price points and has built a strong presence across wine categories. Sula is also a pioneer in wine tourism in India, with resorts, restaurants, tasting rooms, and winery-led experiences across Nashik and Karnataka.