Nara Cellar나라셀라

Nara Cellar is a small wine importer that is back near break-even on operating profit but still loss-making after tax, with its shares down 27.5% over the past year.

Nara Cellar imports and distributes wine in Korea through restaurants, hotels, department stores, discount stores, convenience stores and its own shops. On trailing twelve-month figures to H1 2026 it reported revenue of ₩86.4B, operating income of ₩2.2B and a net loss of ₩1.0B. The shares closed at ₩1,820 on 2026-10-23, near the lower half of their 52-week range of ₩1,561 to ₩2,790.

What stands out

• Trailing revenue is ₩86.4B with a 2.5% operating margin, a clear improvement on the 2024 operating loss of ₩3.5B.
• Net income is still negative at -₩1.0B on a trailing basis, although 2025 full-year net income was a small positive ₩85M.
• The balance sheet carries ₩38.8B of borrowings against ₩2.5B of cash, and liabilities are 94.6% of equity.
• Valuation metrics are low: price-to-book about 0.4 and price-to-sales about 0.3, with no dividend and P/E not meaningful given the losses.
• Recent filings are mostly routine (half-year and quarterly reports, insider holdings, and several amended share acquisition filings); no news headlines were included in the data.

What to watch

• The next quarterly or half-year results, to see whether operating profit holds and the net loss narrows.
• The amended share acquisition filings from 2026, since the data does not explain what the acquisition involves.
• Debt levels relative to cash, given the ₩38.8B of borrowings and the high liabilities-to-equity ratio.