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The Company was incorporated as “Nashik Vintners Limited” as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Maharashtra at Mumbai (“RoC”) on February 26, 2003. The Company was granted the certificate for commencement of business on March 6, 2003 by the RoC. The name of the Company was changed to “Nashik Vintners Private Limited”, pursuant to a fresh certificate of incorporation consequent on change of name issued by the RoC on January 24, 2006. Subsequently, the name of the Company was changed to “Sula Vineyards Private Limited”, pursuant to a certificate of incorporation pursuant to change of name issued by the RoC on August 11, 2014. On the conversion of the Company to a public limited company, pursuant to a resolution passed by the company’s Shareholders on December 27, 2021, its name was changed to “Sula Vineyards Limited” and a fresh certificate of incorporation was issued by the RoC on February 11, 2022.
Sula Vineyards is India’s largest wine producer and seller. The company is the market leader across all four price segments, being ‘Elite’, ‘Premium’, ‘Economy’ and ‘Popular’. Furthermore, the company is also recognized as the market leader across wine variants, including red, white and sparkling wines.
Business area of the company
The company’s business can be broadly classified under two categories (i) the production of wine, the import of wines and spirits, and the distribution of wines and spirits (the “Wine Business”); and (ii) the sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (the “Wine Tourism Business”). However, since the Wine Tourism Business is incidental and complements the overall Wine Business, the Company’s chief operating decision makers (which includes its CEO, CFO, COO and members of the board) monitor and review the operating result of the Group as a single operating segment of manufacture, purchase and sale of alcoholic wines and spirits.
The company distributes wines under a bouquet of popular brands. In addition to the flagship brand “Sula,” popular brands include “RASA,” “Dindori”, “The source,” “Satori”, “Madera” & “Dia” with its flagship brand “Sula” being the “category creator” of wine in India. Currently, the company produces 56 different labels of wine at four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka.
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