Sula Vineyards Ltd. · NSE:SULA
Sula Vineyards — Q4 FY24 Earnings Presentation
18 slides from Sula Vineyards's earnings presentation, May 8, 2024
Slide 1: Exchange submission letter for Investor Presentation Q4 & FY24
SULA VINEYARDS Date: 8th May, 2024 To, To, National Stock Exchange of India Limited (“NSE”), BSE Limited (“BSE”), Corporate Relationship Department, The Listing Department 2nd Floor, New Trading Ring, “Exchange Plaza”, 5th Floor P.J. Towers, Dalal Street, Plot No. C/1, G Block, Bandra-Kurla Complex
Slide 2: Investor Presentation Q4 & FY24
SULA VINEYARDS Investor Presentation Q4 & FY24 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: Contents
Contents 1 Q4 & FY24 Highlights 2 Business Overview 3
Slide 5: Performance Highlights Q4 & FY24
Performance Highlights Q4 & FY24 4
Slide 6: Key Highlights – Q4 FY24
Key Highlights – Q4 FY24 Net Revenue: Rs. 135.5 Cr 12.1% YoY EBITDA: Rs. 33.3 Cr 5.0% YoY Financials EBITDA margin: 25.3% 115 bps YoY PAT: Rs. 13.5 Cr 4.9 % YoY EPS: Rs. 1.60 Own Brands Revenue: Rs. 112.9 Cr 9.1 % YoY Own Brands Elite & Premium now at 75.1% of Own Brands, 14.3% YoY Elite and Premium
Slide 7: Key Highlights – FY24
Key Highlights – FY24 Net Revenue: Rs. 616.4 Cr 10.7% YoY EBITDA: Rs. 183.6 Cr 14.1% YoY Financials EBITDA margin: 30.2% 108bps YoY PAT: Rs. 93.3 Cr 11.0% YoY EPS: Rs. 11.05 Own Brands Revenue: Rs. 534.2 Cr 11.1% YoY Own Brands Elite & Premium now at 75.2% of Own Brands, 15.5% YoY Elite and Premium
Slide 8: Own Brands Growth
Own Brands Growth Q4 FY24 FY24 Value Volume Value Volume +9.1% +8.2% +11.1% +7.0% Elite & Premium Elite & Premium Elite & Premium Elite & Premium +14.3% +18.3% +15.5% +13.4% Revenue Breakup Revenue Breakup 24.9% 24.8% 75.1% 75.2% Elite & Premium Elite & Premium Economy & Popular Economy & Popular 7
Slide 9: Strong Financial Performance
Strong Financial Performance (INR Cr) Revenue Split Gross Profit and % margin 3.3% 1.8% 5.0% 3.2% 74.7% 74.4% 71.3% Illi 10.4% 12.4% 8.1% 9.0% 69.3% 86.3% 85.8% 86.9% 87.8% 89.6 98.0 383.4 433.9 Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 FY24 Own brands Wine tourism Others (INR Cr) (INR Cr) EBIT
Slide 10: Wine Tourism – FY24
Wine Tourism – FY24 Vineyard resorts with 100+ Keys! in Nashik ~435,000 172,237 Footfall of visitors Tastings up 12% YoY up 29% YoY ~350,000 INR 10,000+ Bottles sold via D2C Avg. room revenue channel up 10% YoY down -4% YoY 9
Slide 11: Profit & Loss Statement – Q4 & FY24
Profit & Loss Statement – Q4 & FY24 (INR Cr) Particulars Q4FY24 Q4FY23 Y-o-Y FY24 FY23 Y-o-Y - Own Brands 112.9 103.5 9.1% 534.2 480.7 11.1% - Wine Tourism 16.4 12.5 31.3% 54.7 45.0 21.7% - Others 2.4 4.0 -40.4% 19.7 27.8 -29.1% Revenue from Operations 131.7 120.0 9.7% 608.7 553.5 10.0% Less: Excise
Slide 12: FY24 Balance Sheet (Consolidated)
FY24 Balance Sheet (Consolidated) Equity and Liabilities (Rs Cr) Mar-24 Mar-23 Assets (Rs Cr) Mar-24 Mar-23 Equity 550 532 Plant, Property & Equipment (net) 425 397 Equity share capital 17 17 Right use of assets 23 9 Other equity 533 515 Capital Work in Progress 5 2 Lease Liability 18 6 Goodwill & O
Slide 13: Business Overview
Business Overview 12
Slide 14: Executive Summary
Executive Summary Market leader with close 30.2% EBITDA margin India’s best-selling red, to 60%+ market share in for FY24 vs. 29.1% for white, rosé & sparkling premium wines1 FY23 wines Sourcing from 2,600+ acres Winery capacity of 16.7 Sula’s Shiraz Cabernet - of vineyards, significantly Mn liters,
Slide 15: Our Brand Profile
Our Brand Profile Elite Premium Economy Popular >INR 950 INR 760 - 950 INR 450 - 700 <INR 400 21 labels 14 labels 10 labels 6 labels Labels Brands MADERA mosaic YORK W I N £ R Y Note: All pricing are as per the state of Maharashtra 14
Slide 16: Sustainability is Key Focus Area
Sustainability is Key Focus Area ~3MW installed solar PV capacity, providing 50%+ of annual energy needs in FY24 Generated around 4 million kWH from solar energy at Sula’s owned and leased facilities in Maharashtra and Karnataka in FY24 Rainwater harvesting reservoirs at all facilities with storage
Slide 17: Key Business Strategies for Future
Key Business Strategies for Future Continuous focus on Own Brands Continue to focus on wine tourism to Focus on premiumization of product bring in new consumers portfolio Strategies Pursue strategic investments and Effectively use digital media to acquisitions in the Indian wine industry increase aw
Slide 18: Thank You
Thank You Ernst & Young LLP Runjhun Jain | Runjhun.jain1@in.ey.com EY Rhea P Dharia | Rhea.Dharia@in.ey.com 17