Brands
Sula Vineyards toasts to record revenue in FY25, wine tourism pours in double-digit growth
MUMBAI: : Sula Vineyards, India’s largest wine producer, has uncorked its Q4 and FY25 sales update, reporting a record annual revenue of Rs 618.8 crore – a modest 1.7 per cent rise year-on-year. The last quarter was flatter, up just 0.7 per cent, but wine tourism stole the show with a strong 24.6 per cent jump in Q4 and a 10.2 per cent gain for the full year.
SulaFest’25, a crowd-puller, helped boost revenue alongside higher spend per guest and strong occupancy rates. While the elite and premium wine categories held steady in the domestic market, the elite segment alone grew a healthy 8 per cent. The Source range was the standout performer, enjoying robust double-digit growth.
In a major milestone, Sula secured listings for four new wines with the canteen stores department (CSD) after a two-year effort, expanding its range to nine wines. The first shipments rolled out in March, setting the stage for a strong CSD performance in FY26.
Flying high, Sula’s premium wine cans—Chenin Blanc, Zin Red, and Zin Rosé—are now served aboard IndiGo’s international business class, giving the brand a taste of global skies as India’s top airline spreads its wings overseas.
Meanwhile, the 2025 grape harvest delivered in both quantity and quality, marking five straight years of stellar vintages. With ample wine stocks, Sula is well positioned for a sparkling FY26.
Commanding over 50 per cent of the Indian wine market, Sula is the country’s largest wine producer and a pioneer in wine tourism. Its portfolio of nearly 70 labels is crafted across five state-of-the-art wineries in Maharashtra and Karnataka. Sula’s vineyard resorts and tasting rooms in Nashik and Bangalore attract over 400,000 visitors annually.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
