Sula Vineyards Ltd. (IN:SULA)
:SULA
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Sula Vineyards Ltd.
(SULA)
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Rating:56Neutral
Price Target:
₹165.00
▼(-24.47% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weakened FY2026 fundamentals (revenue decline and sharp margin/ROE compression) and a high P/E valuation. Technicals provide partial support with improving near-term momentum (positive MACD; price above 20/50DMA), but the stock remains below longer-term moving averages, limiting the overall rating.
Positive Factors
Balance Sheet Health
Moderate leverage (D/E ~0.57) and an expanded equity base reduce refinancing and solvency risk, giving management structural flexibility to fund operations, capex or marketing. This balance-sheet improvement supports stability and strategic optionality over the next several quarters.
Negative Factors
Profitability Compression
A sharp net margin decline to ~4.6% from ~12.1% in one year signals structural pressure from pricing, cost inflation, or mix shifts. Sustained margin weakness would erode retained earnings, limit reinvestment capacity and impair the company's ability to sustain prior return levels over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Health
Moderate leverage (D/E ~0.57) and an expanded equity base reduce refinancing and solvency risk, giving management structural flexibility to fund operations, capex or marketing. This balance-sheet improvement supports stability and strategic optionality over the next several quarters.
Read all positive factors
Sula Vineyards Ltd. (SULA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.49B
Dividend Yield1.67%
Average Volume (3M)20.94K
Price to Earnings (P/E)45.8
Beta (1Y)1.33
Revenue Growth-4.02%
EPS Growth-63.44%
CountryIN
Employees762
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Wineries & Distilleries
Share Statistics
EPS (TTM)5.81
Shares Outstanding84,447,230
10 Day Avg. Volume20,937
30 Day Avg. Volume20,943
Financial Highlights & Ratios
PEG Ratio-0.72
Price to Book (P/B)2.00
Price to Sales (P/S)2.12
P/FCF Ratio26.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6.5
Revenue Forecast (FY)₹6.22B
Sula Vineyards Ltd. Business Overview & Revenue Model
Company Description
Sula 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 nam...
How the Company Makes Money
Sula Vineyards makes money primarily by selling alcoholic beverages—mainly wine—through multiple channels. Its core revenue stream is the sale of branded wines to distributors, retailers, restaurants/hotels (on-trade), and other trade customers, w...
Sula Vineyards Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.75B | 5.56B | 5.79B | 5.68B | 5.17B | 4.24B |
| Gross Profit | 4.12B | 2.58B | 4.41B | 3.15B | 2.54B | 3.07B |
| EBITDA | 1.29B | 1.03B | 1.53B | 1.82B | 1.59B | 1.16B |
| Net Income | 490.50M | 256.50M | 702.00M | 933.10M | 840.50M | 521.39M |
Balance Sheet | ||||||
| Total Assets | 10.93B | 10.96B | 10.81B | 10.26B | 8.81B | 7.59B |
| Cash, Cash Equivalents and Short-Term Investments | 930.00M | 93.70M | 72.20M | 971.90M | 337.60M | 195.84M |
| Total Debt | 4.00B | 3.33B | 3.15B | 3.24B | 2.03B | 2.40B |
| Total Liabilities | 5.27B | 5.08B | 4.94B | 4.76B | 3.49B | 3.63B |
| Stockholders Equity | 5.66B | 5.87B | 5.86B | 5.50B | 5.32B | 3.95B |
Cash Flow | ||||||
| Free Cash Flow | -171.10M | 437.70M | -91.00M | 618.80M | 208.00M | 324.62M |
| Operating Cash Flow | 41.10M | 759.80M | 583.80M | 1.21B | 899.10M | 874.39M |
| Investing Cash Flow | -219.40M | -342.80M | -748.10M | -428.50M | -743.80M | -567.92M |
| Financing Cash Flow | 245.10M | -417.30M | -735.40M | 24.80M | -93.60M | -612.52M |
Sula Vineyards Ltd. Technical Analysis
Negative
218.45
Price Trends
163.71
Negative
178.18
Negative
215.80
Negative
Market Momentum
-2.31
Positive
40.78
Neutral
16.39
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 218.45 is above the 20-day moving average (MA) of 169.40, above the 50-day MA of 163.71, and above the 200-day MA of 215.80, indicating a bearish trend. The MACD of -2.31 indicates Positive momentum. The RSI at 40.78 is Neutral, neither overbought nor oversold. The STOCH value of 16.39 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
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹16.84B | 121.41 | ― | ― | -6.60% | -6.25% | |
66 Neutral | ₹104.53B | -24.49 | ― | 0.21% | 30.79% | -30.63% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹21.14B | 11.08 | ― | 0.72% | 17.48% | 21.54% | |
56 Neutral | ₹13.49B | 45.84 | ― | 1.67% | -4.02% | -63.44% | |
56 Neutral | ₹15.53B | 14.04 | ― | 0.21% | -5.25% | 5.44% | |
41 Neutral | ₹514.80M | 724.38 | ― | ― | -26.80% | -92.17% |
* Consumer Defensive Sector Average
IN:SULA
Sula Vineyards Ltd.
159.85
-142.00
-47.04%
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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.