Sula Vineyards Q2 Results: Revenue jumps 11% YoY on strong premiumisation
wine producer, said revenue rose 11% helped by strong premiumisation during the September quarter.
The company which controls over 50 per cent share in the domestic wine market, said its focus on premiumisation has paid off with its elite and premium wines clocking over 18% growth this quarter.
“We are pleased to announce yet another quarter of double-digit growth, both in our all-important own brands and wine tourism businesses. Our focus on premiumization continues to pay off, with our Elite and Premium wines leading the way with 18% YoY growth in Q2 and 24% YoY growth in H1, bucking the slowing trend in discretionary spending in the overall economy during Q2,” said CEO Rajeev Samant said in its investor update.
The company said it is anticipating a strong harvest once again despite the irregular monsoons, which bodes very well for meeting the increasing demand for premium wines.
