Restaurant India News: Sula Vineyards Reports Record Wine Tourism Revenue in Q4 FY26

Sula Vineyards reported a stronger fourth quarter for FY26, with growth in its hospitality and wine tourism business helping offset pressure on profitability from rising grape costs.

The company posted Q4 FY26 revenue from operations of Rs 142.6 crore, up 7.1 percent year-on-year from Rs 133.1 crore in the same period last year. Wine tourism revenue reached its highest-ever quarterly level at Rs 23.9 crore, registering 17.5 percent growth compared to Rs 20.4 crore in Q4 FY25.

The hospitality-led growth came on the back of an 11 percent increase in visitor footfalls and a 22 percent rise in room revenue following the launch of its third resort, The Haven by Sula, in Nashik. Wine tourism revenue includes room bookings, food and beverage sales, merchandise, and other ancillary services, excluding on-site wine sales.

For the full financial year FY26, wine tourism revenue stood at Rs 72.8 crore, compared to Rs 60.3 crore in FY25, reflecting 20.7 percent year-on-year growth. The company also said its wine tourism business crossed the Rs 100 crore mark for the first time during the year, including wine sales at its resorts.

Rajeev Samant, CEO of Sula Vineyards, said, “I am pleased to say that after a few tough quarters, we saw a much better performance in Q4 FY26, marking a return to growth with revenue up 7 percent YoY. This recovery was driven by a combination of improved traction in Own Brands and another record quarter in Wine Tourism.”

He added, “Wine Tourism once again delivered a strong performance, growing 17 percent YoY, driven by an 11 percent increase in footfalls and robust room revenue growth following the launch of The Haven. Notably, the Republic Day long weekend in 2026 set a new record for highest single-day revenue and footfall, surpassing the previous record set during the Christmas weekend in Q3.”

The company stated that demand trends improved across key markets during the quarter, while hospitality continued to emerge as a major growth contributor. Sula also announced that it has signed an agreement to acquire Chandon’s 19-acre estate in Dindori, Nashik, as part of its strategy to expand its wine tourism and hospitality footprint.

Despite revenue growth, EBITDA for Q4 FY26 declined marginally by 2.5 percent year-on-year to Rs 27.8 crore from Rs 28.5 crore. EBITDA margin narrowed to 19.5 percent from 21.4 percent in the year-ago quarter. The company attributed the decline to a higher blended grape cost due to increased usage of wine grapes over table grapes, along with a one-time gain of Rs 3 crore recorded in Q4 FY25 related to Karnataka pricing adjustments.

For FY26, total revenue from operations stood at Rs 596.2 crore, down 3.7 percent year-on-year, while EBITDA fell 30.6 percent to Rs 103.5 crore. The EBITDA margin for the year came in at 17.4 percent.

Samant said, “Encouragingly, demand conditions have improved meaningfully across our key markets, and we are seeing a steady recovery in Own Brands alongside the sustained strong momentum in Wine Tourism. Overall, the strategic actions we have taken to strengthen profitability are beginning to show results, positioning us well heading into FY27.”