The reappointment was earlier approved by the company’s board on 10th November 2025 and by shareholders through a postal ballot on 12th December 2025, subject to government clearance under Section 196 read with Schedule V of the Companies Act, 2013, since Samant qualifies as a non-resident under applicable provisions.
With the Central Government’s approval now in place, Samant will continue to lead Sula Vineyards for the next three years, overseeing the company’s operations and strategic initiatives in the wine and spirits sector.
Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.
The company’s consolidated net profit fell 67.6% to Rs 9.10 crore on 9.9% decline in revenue from operations to Rs 180.39 crore in Q3 FY26 over Q3 FY25.
Shares of Sula Vineyards tanked 5.04% to Rs 145 on the BSE.