Sula Vineyards is looking at a bumper harvest in early 2024 and has seen minimal impact from sourcing or business operations due to the unseasonal rains and hailstorms, according to Rajeev Samant, Managing Director and Chief Executive Officer.

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“...this time we are looking at a bumper harvest in early 2024. So even if you lose a small amount of grapes in these unseasonal rain events, at the end of the day, it doesn’t have an impact on us in the bigger picture,” he told CNBC-TV18.

Adverse weather conditions have caused extensive damage to crops across Maharashtra, affecting over 50,000 hectares of farmland. Key agricultural products like onions, grapes, mangoes, and pomegranates have been the worst hit.

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Samant pointed out that, in fact, the unseasonal rain has given the rainfall-deficient districts and talukas a much-needed water boost.

In an interview earlier this month, Samant highlighted the company's increased focus on the above ₹700 category, which is 'vast and lucrative', given the intense competition and aggressive discounting at the lower end, especially from unbranded wines.

Samant also talked about the wine tourism segment, projecting revenues of nearly ₹95-100 crore for the year, including on-site wine sales.

Nashik-based Sula Vineyard has a market capitalisation of ₹3,889 crore.

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(Edited by : Shweta Mungre)