Sula Vineyards, India’s largest wine producer, has announced a notable increase of 24.4% in its first-quarter profits, bolstered by robust demand for its premium wine offerings and heightened visitation to its vineyard.
The vineyard’s consolidated net profit for the quarter reached 136.8 million rupees (£1.29 million), marking a significant upturn from the 110 million rupees reported in the corresponding period the previous year.
Evidencing the positive momentum, the Mumbai-based company unveiled a 21% surge in revenue from operations, reaching 1.17 billion rupees. Sula’s premium labels, notably including Rāsā and The Source, are integral components of its in-house brand portfolio, contributing to around 89% of the total revenue.
Sula Vineyards, accounting for over 50% of the domestic wine market share, achieved a landmark milestone in December of the preceding year by becoming the sole listed winemaker in India. The company’s vineyard journey commenced in 1996 when CEO Rajeev Samant planted the first grapes in Nashik, a region nestled in the Western Ghats at an altitude of 600 meters above sea level, in soil of volcanic origin.
Dindori, a sub-district within Nashik, has gained recognition for cultivating Sula’s premium red grape varieties such as Syrah, Zinfandel, and Cabernet Sauvignon. Hand-harvested from the Dindori estate, Sula’s Rāsā Cabernet Sauvignon is among the esteemed offerings. The Dindori collection by Sula encompasses three additional wines: Dindori Reserve Viognier, Dindori Reserve Chardonnay, and Dindori Reserve Shiraz.
