Sula Vineyards Ltd. · NSE:SULA
Sula Vineyards — Q3 FY24 Earnings Presentation
17 slides from Sula Vineyards's earnings presentation, Feb 13, 2024
Slide 1: Submission letter to NSE and BSE
Date: 13th February 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 Mumbai – 4
Slide 2: Investor Presentation Q3 & 9M FY24
Investor Presentation Q3 & 9M 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 Q3 & 9M FY24 Highlights 2 Business Overview 3
Slide 5: Q3 & 9M FY24 Performance Highlights
Performance Highlights Q3 & 9M FY24 4
Slide 6: Key Highlights – Q3 FY24
Key Highlights – Q3 FY24 Revenue from operations: Rs. 217.5 Cr 4.0% YoY EBITDA: Rs. 73.3 Cr 12.8% YoY Financials EBITDA margin: 33.7% 263bps YoY PAT: Rs. 43.0 Cr 9.4 % YoY EPS: Rs. 5.09 8.1% YoY Own Brands Revenue: Rs. 192.8 Cr 3.9 % YoY Own Brands Elite & Premium now at 77% of Own Brands 7.3% YoY E
Slide 7: Key Highlights – 9M FY24
Key Highlights – 9M FY24 Revenue from operations: Rs. 477.0 Cr 10.0% YoY EBITDA: Rs. 150.3 Cr 16.3% YoY Financials EBITDA margin: 31.5% 169bps YoY PAT: Rs. 79.8 Cr 14.3% YoY EPS: Rs. 9.45 11.2% YoY Own Brands Revenue: Rs. 421.3 Cr 11.7% YoY Own Brands Elite & Premium now at 75.2% of Own Brands 15.8%
Slide 8: Own Brands Growth
Own Brands Growth Q3 FY24 9M FY24 Value Volume Value Volume +3.9% +4.6% +11.7% +6.6% Elite & Premium Elite & Premium Elite & Premium Elite & Premium +7.3% +3.5% +15.8% +12.0% Revenue Breakup Revenue Breakup 23.0% 24.8% 77.0% 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 5.2% 4.6% 5.5% 3.6% 6.1% 7.5% 8.0% 70.4% 6.8% 67.0% 67.8% 88.7% 88.6% 87.0% 88.3% 62.1% 130.0 145.8 293.8 335.9 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Own brands Wine tourism Others (INR Cr) (INR C
Slide 10: Wine Tourism – 9M FY24
Wine Tourism – 9M FY24 Vineyard resorts with 100+ Keys! in Nashik 325,000+ 125,000+ Footfall of visitors Tastings up 11% YoY up 28% YoY 280,000+ INR 10,000+ Bottles sold via D2C Avg. room revenue channel up 10% YoY down -4% YoY Added three stylish villas and 16 rooms overlooking the picturesque Gang
Slide 11: Profit & Loss Statement – Q3 & 9M FY24
Profit & Loss Statement – Q3 & 9M FY24 (INR Cr) Particulars Q3FY24 Q3FY23 Y-o-Y 9MFY24 9MFY23 Y-o-Y - Own Brands 192.8 185.6 3.9% 421.3 377.2 11.7% - Wine Tourism 14.7 12.7 16.0% 38.4 32.5 18.0% - Others 10.0 10.8 -7.4% 17.3 23.8 -27.2% Revenue from Operations 217.5 209.1 4.0% 477.0 433.5 10.0% Less
Slide 12: Business Overview
Business Overview 11
Slide 13: Executive Summary
Executive Summary Market leader with close 33.7% EBITDA margin India’s best-selling red, to 60%+ market share in for Q3FY24 vs. 31.0% white, rosé & sparkling premium wines1 for Q3FY23 wines Sourcing from 2,800+ acres Winery capacity of 16.7 Sula’s Shiraz Cabernet - of vineyards, significantly Mn lit
Slide 14: 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 Note: All pricing are as per the state of Maharashtra 13
Slide 15: Sustainability is Key Focus Area
Sustainability is Key Focus Area ~3MW installed solar PV capacity, providing 50%+ of annual energy needs in FY23 Generated around 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
Slide 16: 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 17: Thank You
Thank You Ernst & Young LLP Runjhun Jain | Runjhun.jain1@in.ey.com Rhea P Dharia | Rhea.Dharia@in.ey.com 16