Sula Vineyards Ltd. · NSE:SULA
Sula Vineyards — Q3 FY2026 Earnings Presentation
22 slides from Sula Vineyards's earnings presentation, Feb 6, 2026
Slide 1: Exchange submission cover letter
Date: 6th February, 2026 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 Mumbai – 4
Slide 2: Investor Presentation Q3 & 9M FY26
Investor Presentation Q3 & 9M FY26 February 2026
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: Content Summary
Content Summary 1 2 3 Q3 & 9M FY26 Company Growth Highlights Overview Strategy 3
Slide 5: Our Latest Launch: The Source Chardonnay Reserve
Our Latest Launch The Source Chardonnay Reserve Crafted from high-quality vineyards and thoughtfully oak- fermented, this dry white wine is an elegant expression of Chardonnay that brings together layered complexity, richness, and freshness in perfect harmony Designed for elevated dining experiences
Slide 6: SulaFest 2026: Standout Success
SulaFest 2026: Standout Success ✓ Strong Performances from King, Nucleya, Gaudi, Midival Punditz ft. Karsh Kale & Kutle Khan and others ✓ Second sold out SulaFest in a row ✓ Sula cans were a hit at the Fest (+30% versus LY) ✓ Inventive wine cocktails and exclusive previews of new launches - The Sour
Slide 7: Performance Highlights Q3 & 9M FY26
Performance Highlights Q3 & 9M FY26
Slide 8: Key Highlights – Q3 & 9M FY26
Key Highlights – Q3 & 9M FY26 ▪ Revenue from Operations: Rs. 195.7 Cr 9.7% YoY Financials ▪ Gross Profit: Rs. 116.9 Cr 13.6% YoY ▪ Operating EBITDA: Rs. 32.0 Cr 39.8% YoY ▪ Own Brand Revenue Rs. 169.5 Cr 12.9% YoY ▪ Own Brands impacted by one-time tactical destocking in Karnataka to correct channel
Slide 9: Own Brands Performance – Q3 & 9M FY26
Own Brands Performance – Q3 & 9M FY26 Q3 FY26 9M FY26 Revenue YoY Chg% Revenue YoY Chg% Elite & Elite & INR 309.1 Cr INR 136.0 Cr -13.2% -7.0% * Premium Premium Economy & Economy & INR 33.5 Cr -11.6% INR 86.7 Cr -7.6%* Popular Popular Portfolio Mix Portfolio Mix Q3FY25 Q3FY26 9MFY25* 9MFY26 19% 20%
Slide 10: Wine Tourism Update – Q3 FY26
Wine Tourism Update – Q3 FY26 Record Q3 Revenue driven by Strong Double-Digit Footfall Growth and Launch of the 3rd Resort - The Haven by Sula 1,27,400+* 79% INR 10,483 Visitor Footfall Avg. Room Occupancy Avg. Room Revenue Up 17% YoY Down 200 bps YoY Down 1% YoY Double-digit footfalls Occupancy sto
Slide 11: Profit & Loss Statement – Q3 & 9M FY26
Profit & Loss Statement – Q3 & 9M FY26 Particulars (in INR Cr) Q3Y26 Q3FY25 Y-o-Y 9MFY26 9MFY25* Y-o-Y Q3 FY26 Performance Update - Own Brands 169.5 194.7 -12.9% 395.9 436.6 -9.3% - Wine Tourism 22.0 16.4 33.7% 48.9 39.9 22.4% o Revenue primarily impacted by one-time tactical destocking in - Others
Slide 12: Company Overview
Company Overview 11
Slide 13: Key Strengths
Key Strengths India’s Leading Wine Company Strong Product Portfolio of Award-Winning Wines ❖ Market leader with >50% share in domestic premium wines ❖ Wide & Diverse Portfolio of 69 labels across price points and ❖ Winery capacity:18.2 Mn liters, amongst top 5 in Asia grape varietals ❖ Sula’s Shiraz
Slide 14: Our Brands – Wide & Diverse Portfolio across Price Points
Our Brands – Wide & Diverse Portfolio across Price Points to Choose From Brands 3 Labels 6 Labels 13 Labels 3 Labels 27 Labels 17 Labels ▪ Wide portfolio of 69 labels across 14 brands ▪ Category Split: Elite - 21 labels, Premium - 15 labels, Economy - 10 labels, Popular – 6 labels, and 17 Import lab
Slide 15: Robust & Growing Pan-India Distribution Network
Robust & Growing Pan-India Distribution Network Domestic presence in 51 Distributors, 12 Corporations, 14 Licensed Points of sale Exports to 29 23 States & 7 UTs resellers, 6 Company depots, 3 Defence units ~25,000 countries Sula’s distribution presence Owned production facility Corporate office Reg
Slide 16: Secured & Ample Wine Grape Supply to Meet Long-term Growth Needs
Secured & Ample Wine Grape Supply to Meet Long-term Growth Needs 2,800+ acres Only a Small Fraction 2,200+ acres Up to 12 years contract Vineyards accessible to of total grape cultivation Under long term supply life and an option to Sula covering >90% in India currently used for contract with built-
Slide 17: Thriving Wine Tourism Business - Amongst Most Visited Vineyards Globally
Thriving Wine Tourism Business - Amongst Most Visited Vineyards Globally Three Luxury Resorts (The Source, Beyond Wine Tourism Facilities (Tasting & Tours, and The Haven) at Nashik with 150+ Keys Bottle Shop & Gourmet Dining) Domaine Sula (Karnataka) • The Source, Beyond and The Haven offer tasting
Slide 18: Fostering Sustainability
Fostering Sustainability ~3MW installed solar PV capacity - Provided 66% of annual energy needs in FY25 Generates around 4 million kWH from solar energy at Rainwater harvesting reservoirs at all facilities with storage Sula’s owned and leased facilities in Maharashtra and capacity of over 36.8 mn li
Slide 19: Strong Performance Track Record
Strong Performance Track Record (INR Cr) Revenue from Operations EBITDA & EBITDA Margin % * PAT & PAT Margin % CAGR: 10% CAGR: 25% CAGR: 116% 608.7 619.4 28.5% 28.9% 15.2% 15.2% 553.2 25.0% 24.1% 11.5% 11.2% 417.9 453.9 14.6% 175.9 93.3 157.5 149.1 0.7% 84.1 70.2 113.3 52.1 60.9 3.2 FY21 FY22 FY23 F
Slide 20: Growth Strategy
Growth Strategy 19
Slide 21: Growth Strategy
Growth Strategy Accelerating Earnings Growth over next 3 years (FY25-FY28) with improved EBITDA margins and capital efficiency Product • Continue launching new products to meet evolving consumer demands 1 Development • Pipeline: 3 new wines incl. Muscat Blanc, The Source Chardonnay launched in FY26
Slide 22: Thank You
Thank You Sula Vineyards For more information, please contact - Mandar Kapse | IR Head Email: mandar.kapse@sulawines.com Contact No: +91 7304563606