Fratelli Vineyards is a wine company built on a 15-year head start in the vineyard - it owns the soil, the vines, and the proprietary grape clones that rivals cannot copy quickly, which is why it now commands roughly one-third of India’s domestic wine market. The listed entity began as an agricultural commodity trader called Tinna Trade, but in March 2024 it acquired Fratelli Wines - already India’s second-largest wine maker - through a share swap, renamed itself Fratelli Vineyards, and shut down its trading operations entirely to focus on a single idea. That idea is premiumisation: introducing wines and varietals never before made in India, and building a wine-drinking culture around them, one bottle and one can at a time.
Business segments
Two engines at different stages - a core wine business that spans grapes to glass and already leads the premium end of the Indian market, and a fast-growing ready-to-drink brand that is pulling in a new generation of consumers.
1. Indian wine: the vineyard-to-bottle engine that owns the premium end
Fratelli controls the entire chain - from proprietary grape clones grown on its own and contract farms to the bottle that reaches 31,000 touchpoints - and holds more than half the luxury wine market in India.
- Proprietary clones are the moat - the company imported 12 grape varietals from a 120-year-old French nursery, grafted them onto Indian root stock, and spent 15 years developing clones suited to local soil and climate; that time barrier means no competitor can replicate them for several years.
- Fully integrated, farm to bottle - Fratelli directly farms 400 acres and supports another 1,000 acres through long-term contract farmers, totalling roughly 1,400 acres in Maharashtra, with a winery set amid the vineyards so grapes are crushed within an hour of harvest.
- Capacity built for the next three years - the winery was expanded to 5.4 million litres in 2025, the major capex cycle is largely complete, and each additional litre of capacity costs roughly Rs. 55-60 and takes about six months to add.
- Luxury leader with a ladder of brands - the portfolio runs from value wines at Rs. 250-550 MRP up to J’NOON and Sette above Rs. 2,000, where the company holds more than 50% market share; the Premium & Above category contributed over 70% of revenue in FY26, and the luxury portfolio grew 15% year-on-year.
- Distribution that reaches where others do not - the company sells through 31,000 touchpoints across 29 states and union territories, with a strong position in the CSD (army canteen) channel that contributed 8% of the top line, and was the first to put wine-in-a-can into those canteens.
2. Ready-to-drink: the second growth engine aimed at new drinkers
Shotgun, a wine-based RTD launched in early 2025, sold roughly 100,000 cases in its first year and is already present across 18 states - a separate consumer funnel that does not cannibalise the bottle business.
- Built for a different consumer - priced at roughly Rs. 150-200 MRP and available in four flavours, Shotgun targets early drinkers and younger consumers who may never buy a bottle of wine, tapping a domestic RTD market estimated at Rs. 500-600 crores and growing about 25% a year.
- Distribution built fast and wide - the RTD footprint reached roughly 9,000 outlets, including 2,000 new ones added during FY26, with a deliberate push into Tier 2 and Tier 3 cities.
- A second growth driver, not a side project - the company describes RTDs as a transition from a single-segment wine business to one with two growth drivers, and Shotgun already made up 76% of the combined RTD-and-can segment in FY26.
Group structure and partners
The listed company is a holding entity with one wholly owned operating subsidiary, Fratelli Wines Private Limited, which houses all wine-making and selling operations - and the family leadership that founded the business still runs it.
- Family-driven, professionally governed - the board is led by Gaurav Sekhri as Chairman and Managing Director, with Aditya Brij Sekhri and Puja Sekhri as Directors, alongside four independent directors; the second generation of the founding families is now engaged in the business.
- Winemaking partnerships that define the product - the flagship J’NOON brand was crafted with Jean-Charles Boisset of the Boisset Collection, and the company’s foundational oenology expertise came from Piero Masi, a master winemaker from Tuscany.
- The listed company funds the operating subsidiary - it has provided corporate guarantees of Rs. 42 crore and Rs. 72.50 crore to banks for Fratelli Wines’ borrowings, extended an unsecured loan of up to Rs. 12 crore, and made multiple equity infusions totalling over Rs. 64 crore into the subsidiary to finance expansion and working capital.