{"id":8449,"date":"2023-04-18T23:23:58","date_gmt":"2023-04-18T17:53:58","guid":{"rendered":"https:\/\/www.indianwineacademy.com\/articles\/?p=8449"},"modified":"2023-04-18T23:34:56","modified_gmt":"2023-04-18T18:04:56","slug":"item_4_928","status":"publish","type":"post","link":"https:\/\/www.indianwineacademy.com\/articles\/item_4_928\/","title":{"rendered":"Sula Ship cruising smoothly in a Choppy Sea of Indian Bourses"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"8449\" class=\"elementor elementor-8449\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4720b6a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4720b6a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-53f09f7\" data-id=\"53f09f7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70aab53 elementor-widget elementor-widget-text-editor\" data-id=\"70aab53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Posted: Tuesday, 18 April 2023 11:33<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ad9e937\" data-id=\"ad9e937\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-cccb2a7\" data-id=\"cccb2a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1b4aea3 elementor-widget elementor-widget-text-editor\" data-id=\"1b4aea3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<u>If you Like this article, please click\n<iframe style=\"border: none; overflow: hidden; width: 120px; height: 21px;\" src=\"https:\/\/www.facebook.com\/plugins\/like.php?app_id=173955395995712&amp;href=https%3A%2F%2Fwww.facebook.com%2Fwineguyindia&amp;send=false&amp;layout=button_count&amp;width=120&amp;show_faces=false&amp;action=like&amp;colorscheme=light&amp;font=arial&amp;height=21\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/u>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9669605 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9669605\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b62f3ec\" data-id=\"b62f3ec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c0e78f1 elementor-widget elementor-widget-text-editor\" data-id=\"c0e78f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"row\">\n<div class=\"col-sm-12\">\n<h1 class=\"articlepagetitle_heading\">Sula Ship cruising smoothly in a Choppy Sea of Indian Bourses<\/h1>\n<div class=\"articlepageintroline\">April 18: Four months after Sula Vineyards, came out with the maiden Public Issue, facing some turbulent weather in the volatile Indian stock market, the share has maintained its price comfortably above the issue price of Rs. 357, thanks to the sales growth reaching record levels in the last quarter of FY2023 (Jan-Mar 2023) with its own labels crossing the sale of 1 million cases for the first time, with its elite and premium range accounting for 500,000 cases capturing 60% share of that segment, writes Subhash Arora<\/div>\n<div class=\"articledata\">\n<p><a href=\"https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8452 alignleft\" style=\"margin-bottom: 0px; margin-left: 1px; padding-bottom: 0px; padding-left: 1px;\" src=\"https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_-300x205.png\" alt=\"Rajeev Samant, Founder &amp; CEO, Sula Vineyards\" width=\"400\" height=\"273\" srcset=\"https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_-300x205.png 300w, https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png 534w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a>The largest Indian wine producer with a track record of 23 years, also clocked a growth of 15% in its last quarter (Jan-Mar) sales which yields the highest sales during this period due to seasonality of the wine market. . Sula registered an upside of 15 per cent in own brands sales to \u20b9104.3 crore &nbsp;during the March quarter compared to \u20b990.7 crore in the corresponding quarter last fiscal 2021-22..<\/p>\n<p>It also registered its highest growth in wine tourism during the 4th quarter; with a 30% jump, and that too without the annual Sula Fest, held traditionally during the first weekend of February. The Covid-19 pandemic hit the segment badly for a short time, but bounced back equally fast.<\/p>\n<p>The company was listed on the NSE and BSE on December 21, 2023.&nbsp; Like the smooth waves in a relatively calm sea, the share has kept going up and done, with a swing of around Rs.50 In each direction with the highest price crossing the Rs. 432 mark on January 23, 2023 \u2013a month after the stock started trading and at the low ebb, recording a price of Rs.305. It closed today at Rs. 374, staying in the positive territory, compared to its issue price.<\/p>\n<p>\u201cFY23 has been one of the most momentous and successful years in Sula\u2019s 23-year journey. Our focus on premiumisation is reaping rich dividends. Over 52% of 1 million cases are our Elite &amp; Premium wines including our Sula Vineyards, RASA &amp; <em>The Source<\/em> brands. That share was just 46% in pre-pandemic FY19. We continue our focus on our highly profitable own brands, and at the same time we continue to prune the imported brands business,\u201d according to the company.<\/p>\n<p>Sula made a judicious decision to change the product mix with more emphasis on the premium and super-premium products post-Covid, making a marked shift in the processing also as Rajeev Samant was ensconced in the winery for several months during the pandemic. This turned out to be the most beneficial period in the company\u2019s history. The focus had changed to wines of higher quality and profitability rather than the volumes; Sula had been flirting with one-million case mark for over 4years, but reaching the figure for the first time, with a more profitable product mix.<\/p>\n<p>Similarly, post-Covid, tourism has been a bigger contributor to the kitty with both its resorts \u2013 The Source and \u2018Beyond\u2019 doing a roaring business as have been the visits to the winery in an open-air environment. Sula posted 18 per cent growth in wine tourism revenues to Rs. 124 million during March quarter as compared to Rs. 105 million in Q3FY22, while the gains were 30 per cent for the full year at Rs. 45 crore.<\/p>\n<p>\u2018I\u2019m particularly pleased that we conducted more than 130,000 unique individual tastings at our iconic vineyards, a massive 66% growth from the previous year. This continues to be a significant focus area for the company. Our wine tourism business continues to soar with total revenue touching Rs. 800 million (Rs. 80 Crores) in FY23 vs just Rs. 440 million (Rs. 44 Cr.), 4 years ago in FY19. We expect this to be a 100 Cr business in the coming year. The Indian wine drinking population is clearly growing and they are reaching for more premium wines and increasingly those are Sula\u2019s brands,&#8221; says Rajeev Samant, Founder CEO of the company.<\/p>\n<p>The shares were issued at Rs. 357 a share (Rs. 2 Face Value) and after fluctuating between Rs. 432 and Rs. 305 they have been hovering above the issue price, offering a minor opportunity for the short term investors who hoped to make listing gains.<\/p>\n<p>With strong backend capabilities and a pan-Indian distribution network, Sula is poised to hand the growing Indian market rather well and reward its shareholders and employees.<\/p>\n<p><strong>Subhash Arora<\/strong><\/p>\n<\/div>\n<div class=\"articledata\">&nbsp;<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Posted: Tuesday, 18 April 2023 11:33 If you Like this article, please click Sula Ship cruising smoothly in<\/p>\n","protected":false},"author":1,"featured_media":8452,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80],"tags":[228,229,227,226],"class_list":["post-8449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-headline","tag-choppy-sea","tag-indian-bourses","tag-ship-cruising","tag-sula"],"featured_image_urls":{"full":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"thumbnail":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_-150x150.png",150,150,true],"medium":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_-300x205.png",300,205,true],"medium_large":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"large":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"1536x1536":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"2048x2048":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"slider-bg":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"card-grid":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"card-list":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"morenews-featured":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"morenews-large":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false],"morenews-medium":["https:\/\/www.indianwineacademy.com\/articles\/wp-content\/uploads\/2023\/04\/rajeev.fw_.png",534,365,false]},"author_info":{"display_name":"admin","author_link":"https:\/\/www.indianwineacademy.com\/articles\/author\/admin\/"},"category_info":"<a href=\"https:\/\/www.indianwineacademy.com\/articles\/category\/top-headline\/\" rel=\"category tag\">Top Headline<\/a>","tag_info":"Top Headline","comment_count":"0","_links":{"self":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/8449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/comments?post=8449"}],"version-history":[{"count":7,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/8449\/revisions"}],"predecessor-version":[{"id":8459,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/8449\/revisions\/8459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/media\/8452"}],"wp:attachment":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/media?parent=8449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/categories?post=8449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/tags?post=8449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}