Sula Wines on heady high

Sula Wines is seeing some heady trading today; from its close of Rs.325.45, it opened higher at Rs.335.20 and rose to hit an intraday high at Rs.362.65, which is a tad away from its 52-week high of Rs.363.40. Volumes are up 18.5x.

Late Friday evening, the company posted its Q3FY23 update and the market is pretty enthused. the largest wine producer in the country, recorded the highest-ever quarterly gross billings overall in both its own brands and wine tourism business.

The company said sales of its own wine brands jumped to Rs 187 crore in Q3FY23, up 13% (YoY).

In the wine tourism business, the company recorded its gross billings amounting to Rs 23 crore in the third quarter, a 13% rise.

Sula expects to continue its growth story and leadership position even in 2023.