Sula Vineyards Limited declared a final dividend of ₹2 per share for the financial year ended March 31, 2026, at its 23rd Annual General Meeting (AGM) held on June 25, 2026. The meeting, conducted through Video Conferencing, also approved the adoption of audited financial statements and the payment of commission to non-executive directors. Additionally, Mr. Nicholas Cator, Non-Executive Director, retired by rotation and ceased to be a Director upon the conclusion of the AGM as he did not seek re-appointment due to other commitments.

The AGM commenced at 2:00 P.M. and concluded at 3:43 P.M. with the requisite quorum present throughout. The resolutions were passed with the requisite majority, as detailed in the Scrutinizer's report dated June 25, 2026. M/s. Martinho Ferrao & Associates were appointed as the Scrutinizer for the voting process.

Business Transacted

Four resolutions were presented to the shareholders, covering both ordinary and special business. The adoption of the financial statements for FY26 and the declaration of the final dividend were approved as ordinary resolutions. The retirement of Mr. Nicholas Cator was also approved, with the vacancy not to be filled. A special resolution to approve commission payments to non-executive directors was passed, though votes from two interested directors, Mr. Alok Vajpeyi and Ms. Sangeeta Tanwani, were treated as invalid.

Voting Summary

The remote e-voting facility was available from June 22 to June 24, 2026. A total of 74 members attended the meeting via video conferencing. The voting results for the key resolutions are summarised below:

Sula Vineyards Limited’s wholly owned subsidiary, Artisan Spirits Private Limited (ASPL), has completed the acquisition of identified assets from Moët Hennessy India Private Limited (MHIP) for an aggregate consideration of ₹20 crore. The transaction involves the purchase of land, building, plant, and machinery forming the estate of Domaine Chandon India, located in Dindori, Nashik. This strategic acquisition is expected to enhance the company's wine tourism business, which continues to be its strongest growth segment, by establishing an additional destination in Dindori.

ASPL executed and registered the Sale Deed with MHIP on June 23, 2026, pursuant to an Asset Purchase Agreement (APA) dated March 25, 2026. Following the execution of the Sale Deed, ASPL has taken possession of the identified assets. The transaction is not a related party transaction, as neither the promoter, promoter group, nor group companies of Sula Vineyards Limited hold any interest in the seller entity.

The financial details of the transaction include an initial consideration of ₹14,85,70,000, which has been paid towards the acquisition of the identified immovable assets. The balance consideration, which includes payment towards acquired inventory and a remaining sum of ₹5 crore, is payable within 12 months from the closing date of June 23, 2026. The total consideration excludes inventory, taxes, and statutory levies.

Transaction Details

The Domaine Chandon India estate is strategically located in Dindori, Nashik, where Sula Vineyards already operates its own winery. The company stated that this proximity would enable efficient operational management and connectivity. The acquisition aligns with the company's strategy to expand its footprint in the wine tourism sector, leveraging the existing infrastructure to drive the next phase of growth in this segment.