Sula Vineyards buys Moët Hennessy wine estate in India

Indian vino radical Sula Vineyards has signed a woody to bargain vino accumulation assets successful the state from Moët Hennessy.

The fiscal presumption of the woody were not disclosed.

In a filing to Bombay Stock Exchange, publically listed Sula Vineyards said it agreed to bargain the Chandon vino accumulation installation and property successful Nashik successful the bluish authorities of Maharashtra.

The woody includes the land, buildings and winemaking infrastructure, “while excluding each brand-related assets” of Chandon, according to the filing.

Rajeev Samant, the laminitis and CEO of Sula Vineyards, said: “This is simply a erstwhile successful a beingness accidental to get a genuinely world-class estate.”

Located successful Dindori successful Maharashtra’s Nashik district, the property spans 19 acres. The winery has capableness of 450,000 litres per year, with scope to grow to 1.3 cardinal litres. The tract besides includes a visitant centre and 5 acres of vineyards.

In a connection to Just Drinks, Moët Hennessy, the wines and spirits part of the luxury radical LVMH, said "Chandon and its products stay portion of the group’s portfolio".

It added: "Distribution and selling successful India volition proceed to beryllium operated by Moët Hennessy’s Indian entity. Moët Hennessy remains committed to supporting its partners and customers successful India passim this transition.”

Once the woody is completed, Chandon volition halt producing vino successful India. Wine made astatine the property volition beryllium sold by Sula Vineyards nether its ain labels. Its portfolio includes Rasa, The Source and Dindori Reserve.

The transaction is expected to adjacent by the extremity of the archetypal 4th of Sula Vineyards' 2027 fiscal year, which started successful March.

Samant added: “Dindori is wide regarded arsenic the location of India’s finest vino grapes, and this acquisition strengthens our beingness here. Leveraging its strategical determination and picturesque setting, we judge this property volition play a cardinal relation successful the adjacent signifier of maturation for our vino tourism business.”

The woody follows a near-10% diminution successful Sula Vineyards’ third-quarter revenue, which the institution attributed to “tactical destocking” amid weaker request successful Karnataka.

Disclosing its results connected 6 February, the radical said it recorded a 9.7% diminution successful gross from operations to Rs1.96bn ($21.6m) successful its fiscal 2026 3rd quarter.

The deed to gross was driven by “one-time tactical destocking successful Karnataka to close transmission inventory and conserve moving superior amid subdued request successful the region”, Sula Vineyards said.

Net income successful the play slid 67.6% to Rs91m. The company’s EBITDA declined 39.8% to Rs320m successful the astir caller quarter. Its net borderline dropped 816 ground points to 16.3%.