A high figure of depreciation, which is a non-cash charge, can distort the net profit figure....
Vinsura Winery, formerly known as Sankalp Winery, plans to launch the wine made from the best quality Shiraaz or Zenfendel grapes next month priced at Rs1,000 and above
Leading wine-maker, Vinsura Winery, will be launching three products in the premium reserve wines segment by mid-January, a top company official said.
"We will for the first time launch reserve wines in the country. There will be three products— Rose Sparkling, Red and White reserve wines in January. This is the most premium quality wine that is made after barrelisation for over two years," Vinsura\'s CEO, Sadashiv Nate, told PTI.
“The brand name under which the reserve wines would be marketed will be announced during a formal launch in January," Mr Nate said.
The reserve wine products would be priced at Rs1,000 and above, he added.
Elaborating on the uniqueness and importance of reserve wine, Mr Nate said it was a specific wine of higher quality than normal wines, aged for a few years before being sold.
The wine is made from the best quality Shiraaz or Zenfendel grapes and is stored in large wooden barrels for years before bottling. The wooden barrels give the wine its unique taste.
The Nashik-based winery—formed by a group of horticulturists—was rechristened as Vinsura after the name of the village Vinchur a few months ago. Earlier, it was known as Sankalp Winery.
Last fiscal, the company produced 6.5 lakh litres and clocked revenues of around Rs3.80 crore. It expects to close the current fiscal at Rs5.20 crore and it will increase the production capacity to 7.8 lakh litres.
Vinsura has submitted a proposal to the Union government to set up a \'mother unit\' at the 450-acre Vinsur Wine Park that would help winemakers to use a common facility, free of cost.
"The Union government has already given a green signal in this regard and has assured a sanction of Rs8 crore for the project. Another Rs2 crore will be contributed by all the 32 vineyards present in the wine park," Mr Nate said.
The mother unit would have common facilities like laboratories, bottling lines, grape-crushers and a cold storage, he added.
The wine industry in India is growing at a rate of 25%-30% annually and such initiatives would provide an extra boost to this segment, Mr Nate said.
— Yogesh Sapkale
Merely being competent at your job is not enough; you need to be a true professional. This is...