SULA2024-04-012024-06-30 SULA2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member SULA2024-04-012024-06-30in-bse-fin:OneOperatingExpenses02Member SULA2024-04-012024-06-30in-bse-fin:OneOperatingExpenses03Member SULA2024-06-30 SULA2024-04-012024-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 543711 SULA NOTLISTED Sula Vineyards Limited Equity 2024-04-01 2025-03-31 2024-08-07 2024-07-29 INR Crores First quarter 16:15:00 17:00:00 2024-08-07 2024-08-07 Not applicable Single segment The Company is engaged in the business of manufacture, purchase, and sale of alcoholic beverages (wines and spirits) 2024-04-01 2024-06-30 Unaudited Standalone 1257800000.00 17000000.00 1274800000.00 168500000.00 40000000.00 82700000.00 222800000.00 63400000.00 70900000.00 432200000.00 1080500000.00 194300000.00 0.00 194300000.00 20600000.00 28000000.00 48600000.00 0.00 145700000.00 0.00 0.00 0.00 0.00 145700000.00 -4300000.00 141400000.00 141400000.00 0.00 168800000.00 2 1.73 1.72 0.00 0.00 1.73 1.72 1) The standalone unaudited financial results for the quarter ended 30 June 2024 (the 'Statement') of Sula Vineyards Limited (the 'Company') have been prepared in accordance with the Indian Accounting standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 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 and subsequently approved by the Board of Directors of the Company at their respective meetings held on 7 August 2024. 2) The Company is engaged in the business of manufacture, purchase and sale of alcoholic beverages (wines and spirits). The Company’s Chief Operating Decision Makers (which include the CEO, CFO, COO and members of the Board of Directors) monitor and review the operating result of the Company as a whole. Therefore, there are no reportable segments for the Company 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) As at 30 June 2024, the Company has non-current investments and non-current loans amounting to INR 27.83 crore and INR 28.89 crore, respectively, in its wholly owned subsidiary Artisan Spirits Private Limited ('ASPL'). As at 30 June 2024, ASPL has accumulated losses and its net-worth has been substantially eroded. However, the net-worth of this subsidiary does not represent its true market value as the value of the entity on a going concern basis, based on valuation report of an independent valuer, is higher. Therefore, based on certain estimates like future business plans, growth prospects as well as considering the valuation report from an independent valuer, the management believes that the realizable amount of the subsidiary is higher than the carrying value of the non-current investments and loans due to which these are considered as good and recoverable. 4) The figures for the quarter ended 31 March 2024 are the balancing figures between the audited standalone figures for the year ended on that date and the year-to-date figures up to the end of third quarter of the financial year, which was subjected to a limited review by the statutory auditor. 5) The Company has entered into a Share Purchase Agreement dated 12 April 2024 with existing shareholders to acquire 100% shareholding of N.D. Wines Private Limited for a consideration of INR 13.10 crore. Pursuant to the above, effective 12 April 2024, N D Wines Private Limited becomes the wholly owned subsidiary of the Holding Company. Excise duty on sales 74300000.00 Others 198500000.00 Selling, distribution and marketing expense 159400000.00 Gain / (loss) on remeasurement of defined benefit plans (net of tax) -4300000.00 -4300000.00 0.00 0.00