A world-class wine producing company: Sula Vineyards

May 21, 2024

A world-class wine producing company: Sula Vineyards

Nashik-based wine producer Sula Vineyards has announced its highest-ever revenue for fiscal 2024 and fourth quarter. Rajiv Samant, CEO of Sula, gave information in this regard.
Mr. Samant said it is pleased to report the highest quarterly and full year revenues. Wine tourism revenue grew by double digits for the fifth consecutive quarter.

Milestone Cellars Tasting Room by Sula

A tasting room called 'Milestone Cellars' has been set up near the Nashik Airport at Ozar.

Lake View Resort near York Winery

He also announced the opening of Lake View Resort in the York Winery area. Banquet hall facilities will be provided for the first time in this. The resort will open in mid-2025. He predicted that. He also said that the number of resort rooms will increase from 104 to 135.

Top priority for wine tourism

Wine tourism will be given top priority in coming times. Hence Sulavdare has recently opened its first tasting room outside the winery campus 'Milestone Cellars' near Nashik Airport to increase the footprint of wine tourism.

Tasting room, restaurant near Gujarat border

The acquisition of N. D. Wine has been completed in record time. This will further expand the wine tourism business. ND Wines aims to open a tasting room, restaurant and bottle shop by December this year. ND Wines is less than 50 km from the Gujarat border and has huge potential for wine tourism. There is much more to come along with this project. Seeing this project, Samant has assured that Sula will remain at the forefront of wine tourism in India.

Record tourists in January

This year the big weekend of Republic Day set new records in terms of visitors, revenue and tasting. Samant said that the wine tourism business recorded a strong revenue growth of 31.3 per cent year-on-year to Rs 16.4 crore in the fourth quarter and 435,000 customers visited the three campuses of Domain Sula Begaluru, York and the flagship Nashik Winery, Samant said.

Increase in demand for elite, premium wines

Samant said the premiumisation efforts have led to an all-time high of 75.1 per cent share of elite and premium wines. Elite, Premium Wines registered a growth of 15.5 percent. 'Sula' net revenue for FY 2024 is Rs 616.4 crore. In this, the revenue of Elite Premium Wine increased by 15.5 percent.

Dividend recommendation

Profit after tax in FY 2024 has been Rs 93.3 crore. The board of directors has recommended a dividend of 4.5 rupees per share and the final dividend for the financial year will be 8.5 rupees per share.

International Gold Medal for 'Rasa Cabernet Sauvignon'

Sula Vineyards has been awarded the Gold Medal at the Global Cabernet Sauvignon Masters 2024 for its wine "Rasa Cabernet Sauvignon". This is the first time that an Indian wine has won a gold medal in any category at the highly prestigious Global Masters Awards.

Organized by Drinks Business Magazine in England. Selection is done through a fair and confidential process. It is examined by a panel of distinguished judges from the wine industry. Rajeev Samant, Founder and CEO of Sula Vineyards, expressed pride at this historic achievement.

The world's finest wines

Mr. Samant said it was a matter of pride to receive this gold medal for the flagship wine during Sula's 25th anniversary. This honor at the 2024 Global Cabernet Sauvignon Masters confirms that Sula continues to produce world-class wines. This will encourage us to continue to innovate and excel.

The "Rasa" series includes the gold medal winners Rasa Cabernet Sauvignon 2022, Rasa Syrah and Rasa Zinfandel. It represents the pinnacle of red wine in India. Each wine in this series has been carefully crafted. And it is a testament to the excellence and sophistication of Indian viticulture and winemaking.