3 CHEERS FROM WINE MAKER! DIVIDEND IN Q4 2024 RESULTS - RECORD DATE, PAYMENT DATE

Sula Vineyards Ltd, on Wednesday, May 8, 2024, announced its earnings for the fourth quarter ended March 31, 2024. The wine producer has also declared a dividend for its shareholders.

Sula Vineyards Dividend 2024

The board of directors of Sula Vineyards has recommended a final dividend of Rs 4.50 per share on the equity shares of face value of Rs 2 each for the financial year ended on March 31, 2024. “Recommended final dividend of Rs. 4.50/- per share on the equity shares of face value of Rs.2/- each for the financial year ended on 31st March 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company…,” said India's biggest wine maker by revenue in its regulatory filing today.

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Sula Vineyards Dividend 2024 Record Date

The Company has fixed the ‘Record Date’ for determining the members who are entitled to receive the Final dividend is Wednesday, May 22, 2024.

Sula Vineyards Dividend 2024 Payment Date

The company said that it will pay the dividend within 30 days from the date of declaration in the AGM. “The Dividend on Equity Shares for the financial year ended 31st March 2024, as recommended by the Board of Directors and as may be declared at the ensuing AGM, will be paid within 30 days from the date of declaration in the AGM subject to the approval of the shareholders to those Members whose names appear as Members in the Register of Members of the Company as on Wednesday, 22nd May 2024, and names appear as Beneficial Owners as at the end of the business hours on Wednesday, 22nd May 2024, in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of the shares held in electronic form,” the wine maker said in the regulatory filing.

Sula Vineyards Q4 2024 Results: Earnings details

Sula Vineyards Ltd on Wednesday reported a 4.85 per cent decline in consolidated net profit to Rs 13.55 crore in the fourth quarter ended March 2024. The company had posted a consolidated net profit of Rs 14.24 crore in the same quarter a year ago, Sula Vineyards said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 131.7 crore as against Rs 120 crore in the year-ago period, it added.

Total expenses in the fourth quarter were higher at Rs 116.83 crore compared to Rs 100.83 crore in the corresponding period the previous year, the company said.

"Our premiumisation efforts have succeeded in raising our Elite and Premium wine share to an all-time high of 75.1 per cent in Q4, up from 71.7 per cent a year ago," Sula CEO Rajeev Samant said.

Further, he said, "Our wine tourism revenues grew in double digits, for the fifth quarter in a row. Wine tourism is a top priority and we are expanding fast."

Samant said after the completion of the acquisition, ND Wines is now a part of Sula. Work is about to begin on expanding the current 120 sq ft bottle shop to a 3,600 sq ft wine tourism destination less than 50 km from the Gujarat border.

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"All these projects, and more to come, will ensure that Sula remains firmly in the forefront of wine tourism in India. A great harvest, booming wine tourism, and growing consumer preference for our premium Indian wines point to a sunny road ahead for Sula," he added.

For the fiscal ended on March 31, 2024, the consolidated net profit was Rs 93.31 crore as against Rs 84.05 crore in the previous fiscal.

For FY24, consolidated revenue from operations was Rs 608.65 crore compared to Rs 553.47 crore in FY23, the company said.

Sula Vineyards Share Price

Shares of Sula Vineyards ended at Rs 541.70 today, 0.95 higher than the previous close of Rs 536.60. The stock opened at Rs 536.70 and hit an intra-day high of Rs 549.80 and low of Rs 533.80, respectively.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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