Integrated Filing — IndAS



General information about company

Scrip Code 543711
NSE Symbol SULA
MSEI Symbol NOTLISTED
ISIN INE142Q01026
Name of company SULA VINEYARDS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 10-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 31-10-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment The Company is engaged in the business of manufacture, purchase, and sale of alcoholic beverages (wines and spirits)
Start date and time of board meeting 10-11-2025   16:40:00
End date and time of board meeting 10-11-2025   17:40:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 13,966.00 25,795.00
Other income 83.00 181.00
Total income 14,049.00 25,976.00
2 Expenses
(a) Cost of materials consumed 1,097.00 2,125.00
(b) Purchases of stock-in-trade 926.00 1,767.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 2,040.00 3,025.00
(d) Employee benefit expense 2,316.00 4,651.00
(e) Finance costs 855.00 1,606.00
(f) Depreciation, depletion and amortisation expense 947.00 1,868.00
(f) Other Expenses
1 Excise duty on sales 875.00 1,740.00
2 Selling, distribution and marketing expenses 1,763.00 3,387.00
3 Others 2,403.00 4,724.00
Total other expenses 5,041.00 9,851.00
Total expenses 13,222.00 24,893.00
3 Total profit before exceptional items and tax 827.00 1,083.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 827.00 1,083.00
6 Tax expense
7 Current tax 239.00 336.00
8 Deferred tax (14.00) (49.00)
9 Total tax expenses 225.00 287.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 602.00 796.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 602.00 796.00
17 Other comprehensive income net of taxes (37.00) (33.00)
18 Total Comprehensive Income for the period 565.00 763.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 602.00 796.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (37.00) (33.00)
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,689.00 1,689.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.71 0.94
Diluted earnings (loss) per share from continuing operations 0.71 0.94
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.71 0.94
Diluted earnings (loss) per share from continuing and discontinued operations 0.71 0.94
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1 The above consolidated unaudited financial results for the quarter and six months ended 30 September 2025 (the 'Statement') of Sula Vineyards Limited (the 'Holding Company') and its subsidiaries (Holding Company and its subsidiaries together referred to as 'the Group') have been prepared in accordance with the Indian Accounting standards ('Ind AS') as specified under Section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standards) Rules 2015, and are in compliance of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) . These results have been reviewed and recommended to the Board of Directors by the Audit Committee and subsequently approved by the Board of Directors of the Holding Company at their respective meetings held on 10 November 2025. 2 The Group is engaged in the business of manufacture, purchase and sale of alcoholic beverages (wines and spirits). The Chief Operating Decision Makers (which include the CEO, CFO, COO and members of the Board of Directors of the Holding Company) monitor and review the operating results of the Group as a whole. Therefore, there are no reportable segments for the Group as per requirements of Ind AS 108 ‘Operating Segments’. Further, considering the seasonality of the business, the revenue, costs and profits do not accrue evenly over the year and therefore the quarterly results may vary and not be strictly comparable. 3 During the six months ended 30 September 2025; 20,400 fully paid up equity shares of face value of INR 2 each, have been allotted against the exercise of options under Employees Stock Option Scheme ESOP 2021 by the holding Company at an exercise price of INR 170 per equity share



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 48,875.00
Capital work-in-progress 937.00
Investment property 0.00
Goodwill 252.00
Other intangible assets 402.00
Intangible assets under development 65.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 242.00
Other non-current financial assets 1,758.00
Total non-current financial assets 2,000.00
Deferred tax assets (net) 530.00
Other non-current assets 2,275.00
Total non-current assets 55,336.00
2 Current assets
Inventories 18,784.00
Current financial asset
Current investments 0.00
Trade receivables, current 24,448.00
Cash and cash equivalents 1,390.00
Bank balance other than cash and cash equivalents 753.00
Loans, current 184.00
Other current financial assets 7,157.00
Total current financial assets 33,932.00
Current tax assets (net) 0.00
Other current assets 1,214.00
Total current assets 53,930.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 1,09,266.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,689.00
Other equity 54,886.00
Total equity attributable to owners of parent 56,575.00
Non controlling interest 0.00
Total equity 56,575.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 6,763.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 2,402.00
Total non-current financial liabilities 9,165.00
Provisions, non-current 484.00
Deferred tax liabilities (net) 2,724.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 0.00
Total non-current liabilities 12,373.00
Current liabilities
Current financial liabilities
Borrowings, current 30,074.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,152.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3,419.00
Total Trade payable 4,571.00
Other current financial liabilities 2,154.00
Total current financial liabilities 36,799.00
Other current liabilities 3,050.00
Provisions, current 241.00
Current tax liabilities (Net) 228.00
Deferred government grants, Current 0.00
Total current liabilities 40,318.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 52,691.00
Total equity and liabilites 1,09,266.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Gain / (loss) on remeasurement of defined benefit plans (net of tax) (37.00) (33.00)
Total Amount of items that will not be reclassified to profit and loss (37.00) (33.00)
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (37.00) (33.00)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1,083.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1,459.00
Adjustments for decrease (increase) in inventories 2,877.00
Adjustments for decrease (increase) in trade receivables, current (1,013.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (1,185.00)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (4,207.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 1,868.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 18.00
Adjustments for dividend income 0.00
Adjustments for interest income 128.00
Adjustments for share-based payments 189.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (73.00)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (195.00)
Net cash flows from (used in) operations 888.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 477.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 411.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 14.00
Purchase of property, plant and equipment 2,122.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 107.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (193.00)
Net cash flows from (used in) investing activities (2,194.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 35.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 9,200.00
Repayments of borrowings 2,074.00
Payments of lease liabilities 339.00
Dividends paid 3,073.00
Interest paid 1,298.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 2,451.00
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 668.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 668.00
Cash and cash equivalents cash flow statement at beginning of period 722.00
Cash and cash equivalents cash flow statement at end of period 1,390.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results No
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Walker Chandiok & Co LLP Yes 31-05-2028