SULA2023-10-012023-12-31 SULA2023-10-012023-12-31 SULA2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member SULA2023-10-012023-12-31in-bse-fin:OneOperatingExpenses02Member SULA2023-10-012023-12-31in-bse-fin:OneOperatingExpenses03Member SULA2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member SULA2023-10-012023-12-31in-bse-fin:FourOperatingExpenses02Member SULA2023-10-012023-12-31in-bse-fin:FourOperatingExpenses03Member SULA2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 543711 SULA NOTLISTED Sula Vineyards Limited Equity 2023-04-01 2024-03-31 2024-02-13 2024-02-07 INR Crores Third quarter 16:20:00 17:20:00 2024-02-13 2024-02-13 Not applicable Single segment The Company is engaged in the business of manufacture, purchase, and sale of alcoholic beverages (wines and spirits) 2023-10-01 2023-12-31 Unaudited Consolidated 2175400000.00 14000000.00 2189400000.00 185100000.00 63500000.00 323600000.00 225200000.00 80900000.00 81100000.00 659500000.00 1618900000.00 570500000.00 0.00 570500000.00 145500000.00 -4800000.00 140700000.00 0.00 429800000.00 0.00 0.00 0.00 0.00 429800000.00 3400000.00 433200000.00 429800000.00 0.00 433200000.00 0.00 168800000.00 2 5.09 5.09 0.00 0.00 5.09 5.09 1. The consolidated unaudited financial results for the quarter and nine months ended 31 December 2023 ('Statement') of Sula Vineyards Limited (Formerly Sula Vineyards Private Limited) (the 'Holding Company') and its subsidiary (Holding Company and its subsidiary together referred to as 'the Group') have been prepared in accordance with the Indian Accounting standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standards) Rules 2015, as amended, and are in compliance with the presentation and disclosure requirements 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 of the Holding Company and subsequently approved by the Board of Directors of the Holding Company at their respective meetings held on 13 February 2024. 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 result 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 quarter and nine months ended 31 December 2023; Nil and 141,831 fully paid up equity shares of face value of INR 2 each, respectively have been allotted against the exercise of options under Employees Stock Option Scheme ESOP 2021 and Employees Stock Option Scheme ESOP 2020 of the Holding Company at an exercise price of INR 170 per equity share. 4. The Holding Company has a disputed excise duty demand of INR 115.90 crore in respect of which a stay was granted by Hon’ble Minister for State Excise (‘Minister') in earlier years. On 21 July 2023, the stay was vacated by the Minister and the Holding Company filed a Writ Petition before Hon’ble Bombay High Court (‘HC’) challenging the vacation of stay order. HC vide its Order dated 4 August 2023 set aside the Order passed by Minister for vacation of stay and has instructed Minister to decide the matter within a period of four months from the date of receipt of Order of the HC. The matter was listed on 12 October 2023 on which the Holding Company filed written submission and on 29 November 2023 the Minister proposed extension of two months to pass the Order which was accepted by both the parties. The matter currently is reserved for order. The Holding Company has been legally advised that it has a good case against the demand and consequently no adjustments have been considered necessary in the consolidated unaudited financial results for the quarter and nine months ended 31 December 2023. 5. The consolidated financials results until the year ended 31 March 2023 (including all quarters) were presented in INR million. Effective 1 April 2023, the Group has presented the financial results in INR crore. Consequently, the results for the comparative periods have also been presented in INR crore. Single segment 2023-04-01 2023-12-31 Unaudited Consolidated 4769600000.00 38700000.00 4808300000.00 449700000.00 139800000.00 504000000.00 653800000.00 199300000.00 232800000.00 1558300000.00 3737700000.00 1070600000.00 0.00 1070600000.00 278800000.00 -5800000.00 273000000.00 0.00 797600000.00 0.00 0.00 0.00 0.00 797600000.00 -9800000.00 787800000.00 797600000.00 0.00 787800000.00 0.00 168800000.00 2 9.45 9.45 0.00 0.00 9.45 9.45 Excise duty on sales 145000000.00 Other Expenses 249400000.00 Selling, distribution and marketing expense 265100000.00 Excise duty on sales 317400000.00 Other Expenses 705800000.00 Selling, distribution and marketing expense 535100000.00 3400000.00 -9800000.00 0.00 0.00 0.00 0.00