Shares of Sula Vineyards Ltd. fell to their lowest since March 14 on Thursday after its profit declined in the fourth quarter.
The wine producers' consolidated net profit fell 4.84% year-on-year to Rs 13.55 crore in quarter ended March 2024, according to an exchange filing.
Sula Vineyards Q4 Results Highlights (Consolidated, YoY)
Revenue up 9.74% at Rs 122.52 crore.
Ebitda down 4.41% at Rs 29.46 crore.
Margin down 313 bps at 24.04%.
Net profit down 4.84% at Rs 13.55 crore.
Board recommends final dividend of Rs 4.5 per share.
Shares of Sula Vineyards fell 6.95% to Rs 504.30, the lowest level since March 14. It was trading 6.46% down at Rs 506.95 as of 12:02 p.m., as compared to 0.62% decline in the NSE Nifty 50.
The stock rose 1.36% on year-to-date basis and 19.32% in last 12 months. The total traded volume so far in the day stood at 1.93 times its 30-day average. The relative strength index was at 30.11.
Out of five analysts tracking the company, four maintain a 'buy' rating and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 27.3%.
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