Zero impact of unseasonal rains on business, says Sula Vineyards CEO

Homegrown wine producer Sula Vineyards Ltd on Wednesday said the recent unseasonal rains in Nasik will have zero impact on its business although there was some damage to vineyards.

The net impact of these rains has actually been positive in many ways as some rain-deficient districts such as Dindori and Sinnar have received a much-needed water top-up due to the rains, Sula Vineyards CEO Rajeev Samant said in a regulatory filing.

"Though there was some damage to vineyards, especially where there were hailstorms, the overall impact on our wine grape procurement and upcoming harvest will be negligible, meaning zero impact on the overall business," he added.

With over 25 years of experience, the company has developed a robust grape procurement model where it anticipates a few unseasonal rain events to occur every year.

"We therefore always target a slightly higher grape tonnage than we need to fulfil our sales projections. The result is that if and when such unseasonal rains occur, Sula will always get the grapes it needs," Samant said.

Empathising with farmers who were hit badly by the unseasonal rains, he said, "However, I would like to reiterate that the outlook for our 2024 harvest remains extremely strong."