Following the transaction, the promoter holding in the company has risen to 24.5%, up from 24.3% at the end of December 2025.
Notably, this marks the first instance of a promoter stake increase since Sula Vineyards’ IPO in December 2022. The move signals renewed promoter confidence in the company’s prospects and long-term growth trajectory.
India’s largest winemaker reported a sharp decline in net profit for the fifth consecutive quarter for the three months ended December 31, citing one-time tactical destocking in Karnataka — its second-largest market — as the key reason for the weak performance.
Net profit fell 67.6% year-on-year to Rs 9.1 crore, compared with Rs 28 crore in the same period last year. Revenue declined 9.7% YoY to Rs 195.7 crore from Rs 216.6 crore a year earlier.
Operating performance also deteriorated significantly. EBITDA dropped 40.2% YoY to Rs 31.8 crore from Rs 52.2 crore in the year-ago quarter, leading to a contraction in EBITDA margin to 16.3%, down from 24.6% in the corresponding period last year.
Commenting on the results, Rajeev Samant said, “Q3 was a challenging quarter, with performance primarily impacted by one-time tactical destocking undertaken in Karnataka, our second-largest market, with the objective of right-sizing channel inventory and optimising working capital amid subdued demand in Bengaluru. Excluding the one-time destocking impact, our Q3 revenue was in line with last year.”Also read: Nvidia effect! E2E Networks, Netweb Tech shares soar up to 20% after collaboration with chip giant
Meanwhile, the wine tourism segment emerged as a bright spot, registering 34% year-on-year growth after at least five quarters of subdued performance, positioning it as a promising growth driver for the company.
Sula Vineyards’ share price has had a rough start to 2026, declining nearly 20% in less than 2 months.
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