Sula Vineyards Q2 FY26 Earnings Call | Revenue, Wine Tourism Boom, Telangana Update & Outlook

Sula Vineyards released its Q2 & H1 FY26 Earnings Results, sharing key updates on business performance, wine tourism growth, state-level demand trends, margins, and future outlook.

In this video, we break down the full highlights from the Earnings Conference Call held on 11th November 2025, featuring:

🔹 Key Highlights of Q2 FY26

Revenue stable at ₹140 crore

Wine Tourism delivered another record quarter – 8% growth in Q2, 15% in H1

Launch of the new resort – The Haven by Sula (30 keys)

Maharashtra market showing strong recovery

The Source Wine Range continues double-digit growth

Own Brands marginal decline due to temporary disruption in Telangana

CSD segment more than doubled YoY

Gross margin impacted due to mix & inventory effect but expected to improve in H2
🔹 Management Commentary

CEO Rajeev Samant shared insights on:

Demand trends across states

Expansion of wine tourism capacity

Muscat wine category growth

Imported wine strategy ahead of EU FTA

Strengthening premium wine portfolio
CFO Abhishek Kapoor discussed:

Margin movement

WIPS (VAT refund) updates

Debt levels & collections

Capex outlook of ₹30–35 crore annually going forward
🔹 Outlook for H2 FY26

Better operating margins expected

Recovery in Telangana from December

Increased WIPS accrual

Strong festive season for Wine Tourism

In this video we are not recommendation any BUY or SELL.

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Disclaimer:
The information presented in this video is intended for general informational purposes only. While we strive to provide accurate and up-to-date content, there may be inadvertent errors or omissions. Viewers are strongly advised to cross-check all data and financial figures with official sources, such as the company’s official website, press releases, or stock exchange filings. We do not take responsibility for any decisions made based on the content of this video. Always conduct your own research or consult a financial advisor before making investment decisions.

Видео Sula Vineyards Q2 FY26 Earnings Call | Revenue, Wine Tourism Boom, Telangana Update & Outlook канала Learn More Podcast