Sula Vineyards Ltd. · NSE:SULA
Sula Vineyards — Q2 FY26 Earnings Presentation
20 slides from Sula Vineyards's earnings presentation, Nov 10, 2025
Slide 1: Submission of Investor Presentation Q2 FY26 to stock exchanges
Date: 10th November 2025 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 Q2 & H1 FY26
Investor Presentation Q2 & H1 FY26 November 2025
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 Q2 & H1 FY26 Company Growth Highlights Overview Strategy 3
Slide 5: Performance Highlights Q2 & H1 FY26
Performance Highlights Q2 & H1 FY26
Slide 6: Key Highlights – Q2 & H1 FY26
Key Highlights – Q2 & H1 FY26 ▪ Revenue from Operations: Rs. 139.7 Cr 1.1% YoY Financials ▪ Gross Profit: Rs. 90.3 Cr 13.5% YoY ▪ Operating EBITDA: Rs. 25.5 Cr 24.3% YoY ▪ Own Brand Revenue Rs. 124.1 Cr. Volume 1.5% YoY, Value 2.5% YoY ▪ Own Brands performance impacted by a temporary route-to-market
Slide 7: Own Brands Performance – Q2 & H1 FY26
Own Brands Performance – Q2 & H1 FY26 Q2 FY26 H1 FY26 Revenue YoY Chg% Revenue YoY Chg% Elite & Elite & INR 173.1 Cr INR 96.6 Cr -3.2% -1.4% * Premium Premium Economy & Economy & INR 27.5 Cr +0.1% INR 53.3 Cr -4.7%* Popular Popular Portfolio Mix Portfolio Mix Q2FY25 Q2FY26 H1FY25* H1FY26 22% 22% 25%
Slide 8: Wine Tourism Update – Q2 FY26
Wine Tourism Update – Q2 FY26 Record Q2 Revenue driven by Increase in Footfalls, Higher Occupancy and Spend Per Guest 77% INR 9,788 77,800+* Avg. Room Occupancy Avg. Room Revenue Visitor Footfall Up 350 bps YoY Up 1% YoY Up 2% YoY Higher footfalls despite Superior guest experiences ARRs continued to
Slide 9: Profit & Loss Statement – Q2 & H1 FY26
Profit & Loss Statement – Q2 & H1 FY26 Particulars (in INR Cr) Q2Y26 Q2FY25 Y-o-Y H1FY26 H1FY25* Y-o-Y - Own Brands 124.1 127.3 -2.5% 226.4 241.9 -6.4% Q2 FY26 Performance Update - Wine Tourism 13.2 12.2 7.7% 26.9 23.5 14.5% o Revenue growth primarily impacted by - - Others (incl. BIO) 2.3 1.7 35.3%
Slide 10: Company Overview
Company Overview 9
Slide 11: Key Strengths
Key Strengths India’s Leading Wine Company Strong Product Portfolio of Award-Winning Wines ❖ Market leader with >50% share in domestic 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 Caberne
Slide 12: 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 13: 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 14: 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 15: 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 130+ Keys Bottle Shop & Gourmet Dining) Domaine Sula (Karnataka) • The Source, Beyond and The Haven offer tasting
Slide 16: 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 17: 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 18: Growth Strategy
Growth Strategy 17
Slide 19: 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 • Exciting Pipeline: 3 new wines including Muscat Blanc to be launched in FY26 2 Ca
Slide 20: Thank You
Thank You Sula Vineyards For more information, please contact - Mandar Kapse | IR Head Email: mandar.kapse@sulawines.com Contact No: +91 7304563606