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Sula Vineyards Ltd. (IN:SULA)
:SULA
India Market
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Sula Vineyards Ltd. (SULA) AI Stock Analysis

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IN:SULA

Sula Vineyards Ltd.

(SULA)

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Neutral 64 (OpenAI - 4o)
Rating:64Neutral
Price Target:
₹288.00
▲(8.97% Upside)
Sula Vineyards' overall stock score is driven by strong financial performance, despite challenges in cash flow and profitability. The technical analysis suggests a cautious outlook with bearish trends, while the valuation indicates potential overvaluation. The absence of earnings call and corporate events data limits further insights.

Sula Vineyards Ltd. (SULA) vs. iShares MSCI India ETF (INDA)

Sula Vineyards Ltd. Business Overview & Revenue Model

Company DescriptionSula Vineyards Limited manufactures, purchases, imports, distributes, and sells wine and other alcoholic beverages. It offers white, red, rosé, and sparkling wines; and spirits under the RASA, The Source, Dindori, SULA CLASSICS, and York brand names. The company also owns and operates wine tourism venues, including vineyard resorts and tasting rooms, as well as restaurants. It offers its products through distributors, corporations, licensed resellers, company depots, defense units, and other points of sale, as well as online. The company operates in India, the United States, the United Kingdom, Austria, the United Arab Emirates, Oman, New Zealand, China, France, Italy, Spain, Japan, Australia, Singapore, Belgium, Switzerland, Maldives, Sweden, Holland, Norway, Poland, South Korea, Portugal, Luxembourg, Germany, and the Czech Republic. Sula Vineyards Limited was founded in 1996 and is headquartered in Mumbai, India.
How the Company Makes MoneySula Vineyards Ltd. generates revenue primarily through the production and sale of its wine products, both domestically and internationally. The company has a wide distribution network that includes retail outlets, restaurants, and hotels, ensuring its products reach a broad consumer base. Additionally, SULA has established a significant presence in the wine tourism sector, with its vineyard resort offering tours, tastings, and accommodation, which contributes to its earnings. Key partnerships with distributors and retailers, along with a focus on export markets, further bolster the company's revenue streams. Seasonal events and festivals hosted at the vineyard also play a role in driving sales and brand visibility.

Sula Vineyards Ltd. Financial Statement Overview

Summary
Sula Vineyards demonstrates strong revenue growth and stable operational performance. However, challenges in profit margins and negative free cash flow in 2025 highlight areas for improvement. The balance sheet remains robust with a favorable debt-to-equity ratio, but diminishing returns on equity indicate a need for better profitability management.
Income Statement
75
Positive
Sula Vineyards has demonstrated a solid revenue growth with an increasing trajectory over the past years, notably a 9.8% increase from 2023 to 2024 and a further 2% to 2025. The gross profit margin is strong, rising to approximately 76.2% in 2025, indicating effective cost management. However, the net profit margin decreased from 16.4% in 2024 to 12.1% in 2025, highlighting some challenges in converting revenue to profit. The EBIT margin also decreased slightly, while the EBITDA margin remains healthy, suggesting stability in operational performance.
Balance Sheet
70
Positive
The company's balance sheet shows a healthy equity position with a debt-to-equity ratio that has improved over time, standing at approximately 0.54 in 2025. The equity ratio reflects a stable balance sheet structure, with stockholders' equity covering more than half of the assets. However, the return on equity has decreased from 16.97% in 2024 to 11.97% in 2025, indicating a decline in profitability relative to shareholder investment.
Cash Flow
65
Positive
Sula Vineyards faces challenges in cash flow management, with free cash flow turning negative in 2025 due to increased capital expenditures. The operating cash flow to net income ratio has decreased significantly, pointing to potential issues in cash conversion. Although the operating cash flow remains positive, the decline in free cash flow poses a concern for future investments and financial flexibility.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue5.76B5.79B5.68B5.17B4.24B3.57B
Gross Profit4.26B4.41B3.15B2.54B3.07B1.93B
EBITDA1.37B1.53B1.84B1.59B1.17B605.37M
Net Income575.10M702.00M933.10M840.50M521.39M30.14M
Balance Sheet
Total Assets0.0010.81B10.26B8.81B7.59B7.52B
Cash, Cash Equivalents and Short-Term Investments72.20M72.20M971.90M337.60M195.84M407.91M
Total Debt0.003.15B3.24B2.03B2.40B3.15B
Total Liabilities-5.86B4.94B4.76B3.49B3.63B4.47B
Stockholders Equity5.86B5.86B5.50B5.32B3.95B3.05B
Cash Flow
Free Cash Flow0.00-91.00M618.80M208.00M324.62M1.03B
Operating Cash Flow0.00583.80M1.21B899.10M874.39M1.20B
Investing Cash Flow0.00-748.10M-428.50M-743.80M-567.92M-217.05M
Financing Cash Flow0.00-735.40M24.80M-93.60M-612.52M-944.78M

Sula Vineyards Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price264.30
Price Trends
50DMA
270.44
Negative
100DMA
285.44
Negative
200DMA
303.47
Negative
Market Momentum
MACD
-0.97
Positive
RSI
43.58
Neutral
STOCH
15.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SULA, the sentiment is Negative. The current price of 264.3 is below the 20-day moving average (MA) of 273.93, below the 50-day MA of 270.44, and below the 200-day MA of 303.47, indicating a bearish trend. The MACD of -0.97 indicates Positive momentum. The RSI at 43.58 is Neutral, neither overbought nor oversold. The STOCH value of 15.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SULA.

Sula Vineyards Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
₹24.17B24.2013.98%3.51%10.51%
67
Neutral
₹17.22B19.7015.65%0.21%27.55%56.11%
64
Neutral
₹22.31B38.791.36%-2.12%-39.06%
64
Neutral
₹87.66B31.4726.02%0.22%4.44%81.43%
45
Neutral
₹669.84M553.770.32%57.93%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:SULA
Sula Vineyards Ltd.
264.30
-184.05
-41.05%
IN:ASALCBR
Associated Alcohols & Breweries Ltd.
952.20
18.43
1.97%
IN:GMBREW
G.M. Breweries Ltd.
729.05
-144.88
-16.58%
IN:RKDL
Ravikumar Distilleries Ltd.
27.91
-0.99
-3.43%
IN:SDBL
Som Distilleries & Breweries Ltd.
124.75
11.40
10.06%
IN:TI
Tilaknagar Industries Limited
452.30
167.07
58.57%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 26, 2025