SULA2024-10-012024-12-31 SULA2024-10-012024-12-31 SULA2024-10-012024-12-31in-bse-fin:OneOperatingExpenses01Member SULA2024-10-012024-12-31in-bse-fin:OneOperatingExpenses02Member SULA2024-10-012024-12-31in-bse-fin:OneOperatingExpenses03Member SULA2024-10-012024-12-31in-bse-fin:FourOperatingExpenses01Member SULA2024-10-012024-12-31in-bse-fin:FourOperatingExpenses02Member SULA2024-10-012024-12-31in-bse-fin:FourOperatingExpenses03Member SULA2024-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 543711 SULA NOTLISTED Sula Vineyards Limited Equity 2024-04-01 2025-03-31 2025-02-05 2025-01-27 INR Crores Third quarter 17:35:00 18:10:00 2025-02-05 2025-02-05 Not applicable Single segment The Company is engaged in the business of manufacture, purchase, and sale of alcoholic beverages (wines and spirits). 2024-10-01 2024-12-31 Unaudited Standalone 1809300000.00 17200000.00 1826500000.00 151500000.00 86300000.00 318900000.00 236800000.00 67100000.00 74600000.00 668800000.00 1604000000.00 222500000.00 0.00 222500000.00 57000000.00 2200000.00 59200000.00 0.00 163300000.00 0.00 0.00 0.00 0.00 163300000.00 1100000.00 164400000.00 164400000.00 0.00 168800000.00 2 1.94 1.93 0.00 0.00 1.94 1.93 1. The standalone unaudited financial results for the quarter and nine months ended 31 December 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, 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 and subsequently approved by the Board of Directors of the Company at their respective meetings held on 5 February 2025. 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 31 December 2024, the Company has non-current investments and non-current loans amounting to INR 28.32 crore and INR 31.85 crore, respectively, in its wholly owned subsidiary Artisan Spirits Private Limited ('ASPL'). As at 31 December 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 ASPL's business plan including estimates of growth 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 Company has entered into a Share Purchase Agreement dated 12 April 2024 with existing shareholders of N D Wines Private Limited to acquire their 100% shareholding for a consideration of INR 13.10 crore. Pursuant to the above, effective 12 April 2024, N D Wines Private Limited becomes a wholly owned subsidiary of the Company. 5. During the quarter ended 31 December 2024, 10,000 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 Company at an exercise price of INR 170 per equity share. 6. Figures for the previous periods/year have been regrouped/ reclassified to confirm to the current period presentation, wherever considered necessary. Single segment 2024-04-01 2024-12-31 Unaudited Standalone 4304600000.00 50700000.00 4355300000.00 435700000.00 183300000.00 524600000.00 681900000.00 197100000.00 217600000.00 1606400000.00 3846600000.00 508700000.00 0.00 508700000.00 100100000.00 25700000.00 125800000.00 0.00 382900000.00 0.00 0.00 0.00 0.00 382900000.00 -3700000.00 379200000.00 379200000.00 0.00 168800000.00 2 4.54 4.53 0.00 0.00 4.54 4.53 Excise duty on sales 158600000.00 Others 229900000.00 Selling, distribution and marketing expense 280300000.00 Excise duty on sales 318100000.00 Others 651500000.00 Selling, distribution and marketing expense 636800000.00 1100000.00 -3700000.00 0.00 0.00 0.00 0.00