Sula Vineyards shares surged more than 6% on Thursday after the company announced that its wine tourism attracted record visitors during the Christmas weekend.
Sula shares surged 7.3% from its previous close to hit a high of ₹511.65 apiece on BSE in morning deals. Trading volume surged by more than seven-fold as 2.50 lakh shares changed hands on BSE.
Sula Vineyards, in a stock exchange filing, said its wine tourism business, which features the major attraction of wine tastings, hit fresh records in terms of number of visitors, tastings and revenue during the long December 23-25 weekend.
More than 12,000 visitors visited its Nashik and Bengaluru wine tourism facilities from December 23 to 25, Sula said. Also, over 5,000 people visited its tourism facilities on December 24, which was the highest number of visitors on any single day at its units.
Tastings also set a record as more than 5,300 individuals tasted its wines during the three-day Christmas weekend as against its previous record of 4,700 tastings during the three days over Independence Day this year.
Sula Vineyards generated record ₹2.28 crore revenue during these three days. Also, it clocked a record single-day revenue of ₹85 lakh on both December 24 and 25, beating the previous best of ₹83 lakh reached on August 13, 2023.
According to Sula CEO Rajeev Samant, the record number of visitors and tastings bode incredibly well for the future of wine drinking in India.
Last month, Samant told CNBC-TV18 that the wine maker was expecting a bumper harvest in early 2024. The company witnessed minimal impact from sourcing or business operations due to unseasonal rains, he said.
Sula Vineyards is a leading wine-maker in India. It has wineries in Maharashtra and Karnataka, producing and selling over 1 million cases across India. More than 3 lakh visitors visit Sula’s iconic Nasik estate annually.
Sula shares were trading 5.94% higher at ₹505 apiece on BSE at 11.37am.
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