Sula Vineyards Limited has announced the resignation of its Company Secretary and Compliance Officer, marking a key leadership transition at the wine manufacturer. The company informed stock exchanges about this development in compliance with regulatory requirements.

Resignation Details

Ms. Shalaka Koparkar, who served as Company Secretary and Compliance Officer (Key Managerial Personnel), has tendered her resignation from the company's services due to personal reasons. The resignation follows proper corporate governance procedures and regulatory compliance.

Regulatory Compliance

The resignation was communicated to both NSE and BSE in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Koparkar will cease to be a Key Managerial Personnel of the company under Section 203 of the Companies Act, 2013, effective from the close of business hours on December 24, 2025.

The company has fulfilled all disclosure requirements as mandated by SEBI circulars, including detailed information about the cessation and its effective date. This ensures transparency and compliance with stock exchange listing obligations.

Succession Planning

Sula Vineyards has stated that it will formalize the appointment of a suitable candidate subject to necessary approvals, ensuring continuity in corporate secretarial functions.

Ms. Koparkar, who holds membership number A25314, expressed gratitude to the Board of Directors, CFO, and Senior Management for their support during her tenure. She requested the company to file necessary forms with the Registrar of Companies and provide intimation to stock exchanges regarding her resignation.

Corporate Impact

The transition is being managed systematically with a three-month notice period that Ms. Koparkar is serving to facilitate smooth handover of responsibilities. This approach aims to minimize disruption to the company's compliance and secretarial functions while ensuring regulatory continuity.

The resignation represents a routine corporate governance matter handled in accordance with established procedures and regulatory frameworks governing listed companies in India.

Sula Vineyards , India's largest wine producer, has reported a steady performance for the second quarter of fiscal year 2026, while also announcing key leadership changes and expansion plans. The company has received official shareholder approval for its CEO's re-appointment through a postal ballot process that concluded on December 11, 2025.

Financial Performance

For Q2 FY26, Sula Vineyards reported:

The company's performance was impacted by a temporary route-to-market disruption in Telangana, its third-largest market. However, excluding Telangana, Sula's Own Brands revenue grew in the mid-single digits year-over-year.

Wine Tourism Segment Performance

Despite challenges in the core business, Sula's wine tourism segment reported a record Q2 performance:

This growth was driven by increased footfalls, higher resort occupancy, and increased spend per guest.

Product Mix and Market Performance

• Elite & Premium wines: Maintained a stable share of 78% in Q2 FY26
• Strong double-digit growth reported in eight states, including Haryana, Uttar Pradesh, and Rajasthan
• Sales to Canteen Stores Department (CSD) nearly doubled year-over-year

Official Postal Ballot Results

Sula Vineyards shareholders have officially approved the re-appointment of Rajeev Samant as Managing Director & CEO through a postal ballot process:

The postal ballot was conducted via remote e-voting facility, with the process scrutinized by Martinho Ferrao, Practicing Company Secretary. The resolution was passed with the requisite majority, confirming Samant's continued leadership of the company.

Leadership Changes and Appointments

Along with the CEO re-appointment, Sahil Misra was appointed as Global Brand Ambassador & Head of Exports, effective November 10, 2025, strengthening the company's export and brand management capabilities.

Expansion and Future Outlook

New Resort Launch:

• 'The Haven by Sula' near York Winery in Nashik
• 30-key resort, expanding room capacity by 30% to over 130 keys
• Second phase adding 20 more keys, planned to open by March 2026

Karnataka Expansion:

• New tasting room and restaurant expansion at Domaine Sula by end of Q3 FY26

Infrastructure Improvement:

• Opening of Samruddhi Highway, reducing Mumbai to Nashik travel time by 45 minutes

Rajeev Samant, CEO of Sula Vineyards, commented: "We reported steady revenue from operations in Q2 FY26. Our wine tourism business continued its strong growth momentum to deliver a record Q2. Looking ahead, Sula remains well-positioned to deliver improved operating profitability in the second half of FY26."

As India's wine market continues to evolve, Sula Vineyards' strategic focus on premium offerings and wine tourism positions it well for future growth, despite short-term market challenges.