Shares of Nashik based Sula Vineyards Ltd. rose on Thursday after it reported its highest-ever net revenue in the first quarter of fiscal 2025. The company's net revenue rose 9.7% year-on-year to Rs 129.6 crore in the quarter ended June 30, according to an exchange filing.
Out of the reported revenue, the majority came from its own brand at Rs 104.4 crore, compared with Rs 101.6 crore over the same period last year.
During the period, India's biggest wine maker generated Rs 11.3 crore in revenue from wine tourism, compared to Rs 11.5 crore the previous year.
The company has named Omprakash Shah as head of marketing, the company said in the filing.
Shares of Sula Vineyards rose as much as 1.64% to trade at Rs 510 apiece on the NSE. It was trading 0.05% higher at Rs 510 per share, compared to a 0.26% decline in the benchmark Nifty as of 10:20 a.m.
The share price has risen 4.36% in the last 12 months and 0.52% on a year-to-date basis. The relative strength index was at 48.05.
Three out of five analysts tracking the company have a 'buy' rating on the stock, one recommends a 'hold' and one suggests a 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 6.6%.
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