Varun Beverages Limited share price

Key numbers

Market cap

₹ 1,47,071 Cr

Current price

₹ 434.80

52-week high / low

₹ 556 / 381

Stock P/E

43.5

Book value

₹ 64.4

Dividend yield

0.46%

ROCE

20.1%

ROE

16.9%

Debt to equity

0.13

Sales growth (3 yrs)

17.3%

Profit growth (3 yrs)

26.6%

1-year return

-3.9%

About Varun Beverages Limited

Varun Beverages Limited, together with its subsidiaries, manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana. The company offers carbonated soft drinks under the Pepsi, Pepsi Zero, Mountain Dew, Mirinda, and Seven-Up brands, as well as the Refreshhh, Coo-ee, and Jive brands; fruit pulp and juice-based drinks under the Slice, Tropicana, Tropicana Delight, and Seven-Up Nimbooz brands; club sodas under the Evervess and Duke's brands; and energy drinks under the Sting, Adrenaline Rush, and Rockstar brands. It also provides sports drinks under the Gatorade brand; carbonated juice-based drinks under the Seven-Up Nimbooz Masala Soda brand; ice-tea under the Lipton brand; packaged drinking water under the Aquafina and Aquavess brands, as well as the Refreshhh and Aquaclear brands; and snacks under the FritoLay, Cheetos, Doritos, Simba, and Kurkure brands. In addition, the company offers energy drinks under the Reboost Energy brand; and value-added dairy-based beverages under the Cream Bell brand. Varun…

Quarterly results

Consolidated figures in ₹ crores

Concall summary (2026-08-04)

AI summary of the earnings call transcript · tone: Positive · source document

Guidance & outlook

• Looking ahead, we remain confident in the long -term growth potential across our markets, supported by favorable demographics, rising disposable incomes, and increasing consumption of packaged beverages.
• But if I see Campa Cola's numbers, they claim to have achieved 50% of FY26 sales in same quarter.

Growth & demand

• Consolidated sales volume grew by 19.8% and , together with improved realizations translated into a 20.4% increase in net revenue from operations.
• In India, we saw healthy volume growth in twenties since the onset of the season, i.e. from March onwards except for the month of April, which was about flat, resulting in overall volume growth for the quarter of 14.4%.

Margins & costs

• Net realization per case for beverages at the consolidated level improved by 1.2% supported by better realizations in international territories .
• EBITDA margin declined by 76 basis points year-on-year primarily due to consolidation of Twizza business which currently operates at lower margins.

Capex & expansion

• Depreciation increased by 33.6% due to the commissioning of new plants in India last year, which were not part of the base quarter, and the acquisition of Twizza in South Africa.
• Finance costs increased by 55.8% primarily on account of Twizza acquisition.

Balance sheet & cash

• In accordance with our dividend policy, the Board of Directors has approved an interim dividend of 25% of face value, i.e., Rs.
• VBL India remains net debt -free with surplus cash of ~Rs.

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