Sula Vineyards Ltd. · NSE:SULA
Sula Vineyards — Q4 FY2023 Earnings Presentation
22 slides from Sula Vineyards's earnings presentation, May 4, 2023
Slide 1: Exchange Submission Letter
SULA VINEYARDS Date: May 04, 2023 To, To. Listing Department BSE Limited (“BSE”) National Stock Exchange of Corporate Relationship India Limited Department, Exchange Plaza, 5th Floor, Plot 2 nd Floor, New Trading Ring, No. /1, G Block, Bandra Kurla P.J. Towers, Dalal Street, Complex, Mumbai — 400 00
Slide 2: Investor Presentation FY23 & Q4FY23
Investor Presentation FY23 & Q4FY23 1
Slide 3: Safe Harbour
Safe Harbour This presentation has been prepared by Sula Vineyards Limited (the “Company”) solely information purpose only and should not be deemed to constitute or form part of any offer or invitation or inducement to sell or issue any securities, or any solicitation of any offer to purchase or sub
Slide 4: Table of Contents
Table of Contents 01 FY23 Highlights 02 Business Snapshot 03 Financial Statements & KPIs 3
Slide 5: FY23 Highlights
FY23 Highlights 4
Slide 6: Executive Summary
Executive Summary Market leader with close 29.1% EBITDA margin India’s best-selling red, to 60%+ market share in for FY23 vs. 25.6% for white, rosé & sparkling premium wines1, FY22 wines Winery capacity of 16.7 Sourcing from 2,800+ acres of vineyards, significantly Sula’s Shiraz Cabernet - Mn liters
Slide 7: Key Highlights – FY23
Key Highlights – FY23 Revenue from operations growth : 22% YoY at Rs. 553 Cr EBITDA margin at 29.1%; EBITDA growth : 38.7% YoY PAT margin : 15.2%; growth of 370 bps over FY22 Financials EPS growth of 50% YoY from Rs.6.8 to Rs.10.2 Own Brands Revenue growth : 26% YoY; constituting 87% of revenue Of t
Slide 8: Profit & Loss Statement – FY23 & Q4FY23
Profit & Loss Statement – FY23 & Q4FY23 Particulars (Rs. Cr.) FY23 FY22 Y-o-Y Q4 FY23 Q4 FY22 Y-o-Y Revenue from Operations 553.2 453.9 21.9% 120.0 112.1 7.1% Own Brands 480.7 380.9 26.2% 103.5 90.4 14.5% Wine Tourism 45.0 34.6 29.9% 12.5 10.5 18.1% Other Income 3.5 2.8 25.2% 0.9 0.7 21.7% Total Inc
Slide 9: Strong Financial Profile
Strong Financial Profile Revenue from operations (Rs. Cr.)1 Revenue split by business segments 0.1% 0.3% 0.6% 0.3% 5.4% 4.3% 7.6% 8.1% 553.2 7.9% 4.7% 31.0% 26.6% 521.6 453.9 418.0 86.9% 83.9% 63.6% 68.7% FY20 FY21 FY22 FY23 Own brands Third party brands Wine tourism Others & distribution Own brands
Slide 10: Strong Financial Performance on All Matrix
Strong Financial Performance on All Matrix 150000% 100000% 50000% Gross profit and % margin EBITDA and % margin PAT and % margin Gross Profit (Rs Cr) % margin EBITDA (Rs Cr) % margin PAT (Rs Cr) % margin 15.2% 0% 65.3% 66.7% 29.1% 11.5% 25.6% 84.0 53.3% 369.0 160.9 47.8% 296.4 52.1 15.4% 116.1 0.7%
Slide 11: Business Snapshot
Business Snapshot 10
Slide 12: Sula is the Undisputed Leader of the Indian Wine Industry
Sula is the Undisputed Leader of the Indian Wine Industry Secondary Sales breakup 4% Among Top 15 Domestic presence in 23% most followed vineyards 26 States & 6 UTs in the world on Instagram Promotional 72% activities by Pan-India presence influencers On-Trade 6 1 Off-Trade Direct to Consumer Strong
Slide 13: Pioneer of Wine Tourism Business in India Leading to Strong D2C Presence
Pioneer of Wine Tourism Business in India Leading to Strong D2C Presence Creating wine culture through a combination of resorts, tasting rooms and restaurants, which has made Sula the leading D2C alcobev brand in India 340,000+ 1,30,000 2 Vineyard resorts Footfall of visitors In person tastings in F
Slide 14: Sustainability is Key Focus Area
Sustainability is Key Focus Area 2MW installed solar PV capacity, providing 50%+ of annual energy needs in FY23 Generated >4 million kWH from solar energy at Sula’s owned and leased facilities in Maharashtra and Karnataka in FY23 Rainwater harvesting reservoirs at all facilities with storage capacit
Slide 15: Key Business Strategies for Future
Key Business Strategies for Future Continuous focus on Own Brands Focus on premiumization of product portfolio Increasing wine awareness and Continue to focus on wine tourism consumption, and penetrating further to bring in new consumers into Tier-1 and 2 cities in India Strategies Pursue strategic
Slide 16: Financial Statements & KPIs
Financial Statements & KPIs 15
Slide 17: FY23 Balance Sheet (Consolidated)
FY23 Balance Sheet (Consolidated) Equity and Liabilities (Rs Cr) Mar-23 Mar-22 Assets (Rs Cr) Mar-23 Mar-22 Equity 532.0 395.3 Plant, Property & Equipment (net) 397.1 344.4 Equity share capital 16.9 15.7 Right use of assets 9.3 9.3 Other equity 515.2 379.5 Capital Work in Progress 1.9 1.0 Lease Liab
Slide 18: FY23 Cash Flow Statement (Consolidated)
FY23 Cash Flow Statement (Consolidated) Cash Flow Statement (Rs Cr) Mar-23 Mar-22 Profit before Tax 114.0 69.5 Adjustment for Non-Operating Items 44.6 48.8 Operating Profit before Working Capital Changes 158.5 118.4 Changes in Working Capital -42.5 -14.3 Cash Generated from Operations 116.1 104.1 Le
Slide 19: KPIs–Wine Business & Wine Tourism Business
KPIs–Wine Business & Wine Tourism Business Particulars ( Rs. Cr) 2023 2022 (A) Wine Business 506.7 416.6 Own brands 480.7 380.9 – Elite (%) 23.9 24.1 – Premium (%) 48.4 46.5 – Economy (%) 11.5 13.6 – Popular (%) 16.2 15.8 Third Party Brands and distribution business 26.0 35.7 (B) Wine Tourism Busine
Slide 20: KPIs–Wine Business & Wine Tourism Business
KPIs–Wine Business & Wine Tourism Business Particulars - Wine Business 2023 2022 Elite and Premium Number of cases 5,50,278 4,42,833 Volume contribution (%) 51.9 49.6 Revenue of operations (Rs. Cr) 347.6 268.8 Revenue contribution (%) 72.3 70.6 Economy and Popular Number of cases 5,10,974 4,50,712 V
Slide 21: KPIs– Others
KPIs– Others Particulars 2023 2022 Gross Margin (Rs Cr) 369.0 296.4 Gross Margin (%) 66.7% 65.3% EBITDA (Rs Cr) 160.9 116.1 EBITDA Margin (%) 29.1% 25.6% PAT (Rs Cr) 84.0 52.1 PAT Margin (%) 15.2% 11.5% Net Asset turnover (Times) 1.0 1.1 Cash Conversion Cycle (days) 293 347 Days Sales Outstanding (d
Slide 22: THANK YOU
THANK YOU 21