Sula Vineyards Ltd
Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the "category creator" of wine in India.[1]
- Market Cap ₹ 4,101 Cr.
- Current Price ₹ 486
- High / Low ₹ 700 / 447
- Stock P/E 44.2
- Book Value ₹ 68.2
- Dividend Yield 1.75 %
- ROCE 18.6 %
- ROE 16.7 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 36.9% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 64.7%
Cons
- Stock is trading at 7.13 times its book value
- Promoter holding has decreased over last quarter: -0.71%
- Promoter holding is low: 25.5%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Alcoholic Beverages Industry: Breweries & Distilleries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|
418 | 501 | 387 | 306 | 390 | 493 | 548 | 559 | |
361 | 423 | 333 | 249 | 283 | 336 | 381 | 392 | |
Operating Profit | 58 | 78 | 54 | 57 | 107 | 156 | 167 | 167 |
OPM % | 14% | 16% | 14% | 19% | 27% | 32% | 31% | 30% |
3 | 3 | 0 | 0 | 3 | 5 | 10 | 10 | |
Interest | 17 | 24 | 31 | 32 | 21 | 19 | 24 | 25 |
Depreciation | 15 | 19 | 34 | 25 | 22 | 24 | 27 | 27 |
Profit before tax | 29 | 38 | -12 | -0 | 66 | 118 | 127 | 125 |
Tax % | 35% | 49% | -32% | 130% | 26% | 25% | 26% | |
19 | 20 | -8 | -1 | 49 | 88 | 95 | 93 | |
EPS in Rs | 12.59 | 13.07 | -5.42 | -0.42 | 6.22 | 10.48 | 11.22 | 11.02 |
Dividend Payout % | -0% | -0% | -0% | -0% | 39% | 80% | 76% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 2% |
3 Years: | 21% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 37% |
3 Years: | 239% |
TTM: | -1% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -5% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 16% |
Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 15 | 15 | 15 | 15 | 16 | 17 | 17 |
Reserves | 310 | 328 | 311 | 312 | 399 | 539 | 558 |
220 | 275 | 357 | 310 | 226 | 192 | 292 | |
130 | 143 | 160 | 110 | 116 | 142 | 140 | |
Total Liabilities | 674 | 761 | 843 | 747 | 757 | 890 | 1,008 |
276 | 317 | 349 | 318 | 342 | 394 | 417 | |
CWIP | 1 | 2 | 0 | 0 | 1 | 2 | 5 |
Investments | 21 | 26 | 26 | 21 | 27 | 27 | 28 |
376 | 417 | 468 | 409 | 387 | 466 | 558 | |
Total Assets | 674 | 761 | 843 | 747 | 757 | 890 | 1,008 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
17 | 18 | 35 | 113 | 77 | 81 | 118 | |
-59 | -59 | -43 | -12 | -39 | -71 | -40 | |
40 | 30 | 41 | -96 | -69 | -4 | 1 | |
Net Cash Flow | -2 | -11 | 32 | 5 | -31 | 6 | 79 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 126 | 114 | 126 | 131 | 85 | 78 | 107 |
Inventory Days | 328 | 304 | 420 | 752 | 904 | 811 | 777 |
Days Payable | 155 | 152 | 217 | 287 | 381 | 376 | 323 |
Cash Conversion Cycle | 299 | 265 | 329 | 595 | 608 | 513 | 561 |
Working Capital Days | 191 | 174 | 223 | 273 | 208 | 181 | 168 |
ROCE % | 11% | 3% | 6% | 14% | 20% | 19% |
Documents
Announcements
- Reporting Of Violation Of Code Of Conduct For Prohibition Of Insider Trading 14 Aug
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 13 Aug
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9 Aug - Earning call audio recording conducted on 8th August 2024
- Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug
- Announcement under Regulation 30 (LODR)-Investor Presentation 7 Aug
Concalls
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Aug 2024Transcript PPT
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May 2024TranscriptPPT
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May 2024Transcript PPT
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May 2024TranscriptNotesPPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptPPTREC
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May 2023Transcript PPT
Business segments[1]
i) Production of wine, import and distribution of wines and spirits
ii) Sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms