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Varun Beverages Ltd

VBL

Varun Beverages Ltd

VBL
Consumer StaplesSoft Drinks
LargecapWith a market cap of ₹1,85,458 cr, stock is ranked 40
Moderate RiskStock is 2.48x as volatile as Nifty
520.355.12% (-28.10)
520.355.12% (-28.10)

Price Chart

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Consumer StaplesSoft Drinks
LargecapWith a market cap of ₹1,85,458 cr, stock is ranked 40
Moderate RiskStock is 2.48x as volatile as Nifty

How to use scorecard? Learn more

Consumer StaplesSoft Drinks
LargecapWith a market cap of ₹1,85,458 cr, stock is ranked 40
Moderate RiskStock is 2.48x as volatile as Nifty

Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
71.4826.180.09%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
48.659.631.53%

Forecast & Ratings

Detailed Forecast 
91%
Analysts have suggested that investors can buy this stock

from 22 analysts

Price

Price Upside

Earnings

Earnings Growth

Revenue

Rev. Growth

See Detailed Forecast

Company Profile

Varun Beverages Ltd is a franchisee bottler of carbonated soft drinks and non-carbonated beverages sold under trademarks owned by PepsiCo. The Company produces and distributes products, such as Pepsi, Diet Pepsi and Seven-Up.

Investor Presentation

View older 

Feb 10, 2025

PDF
View Older Presentations
PE Ratio
117.20
1Y Return
137.77%
Buy Reco %
—
PE Ratio
1,207.41
1Y Return
22.64%
Buy Reco %
—
PE Ratio
75.35
1Y Return
0.00%
Buy Reco %
—
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Forecasts

Price

Revenue

Earnings

Income

Balance Sheet

Cash Flow

Income Statement

Industry refers to the sub-sector this company belongs to.

Higher than Industry Revenue Growth

A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Over the last 5 years, revenue has grown at a yearly rate of 18.65%, vs industry avg of 18.63%

Decreasing Market Share

Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Over the last 5 years, market share decreased from 99.07% to 98.54%

Higher than Industry Net Income

Net income is equal to net earnings (profit) less expenses. This number is an important measure of how profitable the company is

Over the last 5 years, net income has grown at a yearly rate of 40.79%, vs industry avg of 40.66%

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Financial YearFY 2016FY 2017FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024TTM
Total Revenue3,899.294,017.406,077.318,558.927,591.618,891.1613,211.9916,121.9420,128.9220,128.92
Raw Materialssubtract1,769.741,883.282,306.503,363.292,781.104,134.386,605.667,489.1615,298.0615,298.06
Power & Fuel Costsubtract156.22160.04194.80279.06267.00329.93479.22550.29
Employee Costsubtract421.03462.84582.95810.82889.741,007.701,216.641,446.59
Selling & Administrative Expensessubtract543.41526.261,693.102,370.752,091.991,366.621,795.942,254.41
Operating & Other expensessubtract172.61132.80258.29225.79376.84307.69269.61669.63
Depreciation/Amortizationsubtract322.21346.64385.07488.63528.70531.26617.19680.91947.39947.39
Interest & Other Itemssubtract434.74214.59222.80324.31293.74206.97204.09291.60450.39450.40
Taxes & Other Itemssubtract36.9680.81140.95227.3033.51312.55526.21683.44838.45838.46
EPS0.020.680.951.481.012.144.616.337.957.99
DPS0.000.150.150.220.220.330.701.000.501.00
Payout ratio0.000.220.160.150.220.160.150.160.060.13

Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2022

Annual report

PDF

Investor Presentation

Apr 28PDF
Feb 3PDF
FY 2023

Annual report

PDF

Investor Presentation

May 2PDF
Feb 6PDF
Nov 1PDF
Aug 1PDF
FY 2024

Annual Report Unavailable

Investor Presentation

Aug 3PDF
FY 2025

Annual Report Pending

Investor Presentation

Feb 10PDF
Oct 28PDF
Oct 22PDF
 

Peers & Comparison

Comparing 3 stocks from 
Consumer StaplesSoft Drinks

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
Varun Beverages Ltd71.4826.180.09%
Vintage Coffee and Beverages Ltd117.208.440.04%
Orient Beverages Ltd1,207.413.30—
Velox Shipping and Logistics Ltd75.351.80—

Price Comparison

Compare VBL with any stock or ETF
Compare VBL with any stock or ETF
VBL
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Shareholdings

Promoter Holdings Trend

Decreased Total Promoter Holding

Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has decreased by 2.46%

Low Pledged Promoter Holding

Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Total Retail Holding

Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has almost stayed constant

Increased Foreign Institutional Holding

Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has increased by 1.08%

Tickertape Separator

Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding60.20%4.08%2.93%25.26%7.52%

Jun 2024

Sep 2024

Nov 2024

Dec 2024

Shareholding History

Dec '23MarJunSepNovDec '2426.58%25.78%25.32%24.18%25.24%25.26%

Mutual Funds Holding Trend

Increased Mutual Fund Holding

Increasing Mutual Fund holdings are generally considered good, as it reflects that fund managers are becoming more bullish about the stock

In last 3 months, mutual fund holding of the company has increased by 1.45%

Top 5 Mutual Funds holding Varun Beverages Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
0.3458%1.94%-0.32%9/103 (-2)
0.2362%0.76%0.76%171/225 (+35)
0.1964%4.59%-0.47%2/56 (0)

Compare 3-month MF holding change on Screener

Insider Trades & Bulk Deals

Hmm, looks like there hasn't been any net deal activity in the last 6 months

smallcases

A smallcase is a basket of stocks/ETFs that represents an idea or theme.Diversify your risk and buy smallcases that have Varun Beverages Ltd

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The Great Indian Middle Class

The Great Indian Middle Class

Created by Windmill Capital

VBL's Wtg.
9.56%
CAGR
5.68%
Rising Rural Demand

Rising Rural Demand

Created by Windmill Capital

VBL's Wtg.
7.68%
CAGR
10.66%
FMCG Tracker

FMCG Tracker

Created by Windmill Capital

VBL's Wtg.
9.01%
CAGR
11.10%

Events

Dividend Trend

No Trend In Dividends

Dividends are the portion of earnings that a company distributes to all its shareholders every year

VBL has shown inconsistent dividend trend over the last 5 years

Dividend Yield

Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation

Current dividend yield is 0.09%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹0.88 every year

Dividends

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash Dividend

Ex DateEx DateAug 9, 2024

Interim
Interim | Div/Share: ₹1.25

Dividend/Share

₹1.25

Ex DateEx Date

Aug 9, 2024

Cash Dividend

Ex DateEx DateApr 4, 2024

Final
Final | Div/Share: ₹1.25

Dividend/Share

₹1.25

Ex DateEx Date

Apr 4, 2024

Cash Dividend

Ex DateEx DateAug 14, 2023

Interim
Interim | Div/Share: ₹1.25

Dividend/Share

₹1.25

Ex DateEx Date

Aug 14, 2023

Cash Dividend

Ex DateEx DateApr 12, 2023

Final
Final | Div/Share: ₹1.00

Dividend/Share

₹1.00

Ex DateEx Date

Apr 12, 2023

Cash Dividend

Ex DateEx DateAug 11, 2022

Final
Final | Div/Share: ₹2.50

Dividend/Share

₹2.50

Ex DateEx Date

Aug 11, 2022

News & Opinions
Corporate
Varun Beverages allots 2.50 lakh equity shares under ESOS

Varun Beverages has allotted 2,50,375 equity shares of face value of Rs. 2/- each of the Company to the eligible employees upon exercise of stock options vested under Employees Stock Option Scheme 2016. Consequent to the aforesaid allotment, the paid-up shares of the Company is increased from 338,15,10,017 Equity Shares to 338,17,60,392 equity shares having face value of Rs. 2/- each. Powered by Capital Market - Live

1 day agoCapital Market - Live
Corporate
Board of Varun Beverages recommends Final Dividend

Varun Beverages announced that the Board of Directors of the Company at its meeting held on 10 February 2024, has recommended a Final dividend of Rs.0.50 per share (i.e.25%), subject to the approval of the shareholders.Powered by Capital Market - Live

1 day agoCapital Market - Live
Spotlight
Varun Beverages posts 36% YoY rise in Q3 PAT; EBITDA margin at 15.7%

Total expenses added up to Rs 3,478.61 crore, up 39.8% YoY. This was primarily on account of higher raw material costs (up 41.1% YoY), higher employee costs and higher other expenses (up 40% YoY). EBITDA improved by 38.7% to Rs 579.97 crore in Q3 FY25 from Rs 418.29 crore in Q3 FY24. EBITDA margin remained unchanged at 15.7%. Profit before tax in Q3 FY25 stood at Rs 254.14 crore, up by 35.2% from Rs 187.98 crore in Q3 FY24. Tax expenses for the period under review was Rs 58.49 crore (up 32.3% YoY). The company's PAT in CY2024 increased by 25.3% to Rs. 2,634.28 crore from Rs 2,101.81 crore in CY2023, led by volume growth & improved margins. Revenue from operations (net of excise / GST) grew by 24.7% YoY to Rs 20,007.65 crore in CY2024. Consolidated sales volume grew by 23.2% to 1,124.4 million cases in CY2024 from 912.9million cases in CY2023. Ravi Jaipuria, chairman, Varun Beverages, said: We are pleased to conclude CY2024 on a strong note through adding geographical presence into new territories of South Africa along with distribution rights in Namibia, Botswana, Mozambique and Madagascar. We also started greenfield operations into a new country of Democratic Republic of Congo (DRC). The growth has been driven by organic volume growth and improved product mix. India volumes grew 11.4%, reflecting the strength of our distribution network and operational execution. Consolidated volumes increased by 23.2%, largely led by new territories resulting in consolidated revenues increase by 24.7%, EBITDA growth of 30.5%, and PAT growth of 25.3% for the year. We are progressing well in South Africa as we grew the sales volumes by 12.5% in the very first year of operations. We are consciously reducing our reliance on modern trade channel and enhancing our distribution network in general trade. As an enabler, we have placed more visi-coolers in the SA market in a single year than what was cumulatively placed till date by previous operators. We are working on plans for backward integration in the territory. We also entered into share purchase agreement to acquire PepsiCo's business in Tanzania and Ghana, pending regulatory and other approvals. Integration of these acquisitions, along with our operations in South Africa, shall strengthen our presence in key international markets. This, coupled with the commissioning of new greenfield facilities in India and DRC, shall enhance our manufacturing and distribution capabilities, ensuring we are well-positioned to cater to growing consumer demand. Additionally, our foray into the snacks business with PepsiCo in Morocco, Zimbabwe and Zambia marks an important step in enriching our portfolio and leveraging synergies with our existing infrastructure. Varun Beverages is a key player in beverage industry and one of the largest franchisees of PepsiCo in the world (outside USA). As on date, VBL has been granted franchises for various PepsiCo products across 27 States and 7 Union Territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe. The scrip fell 2.10% to currently trade at Rs 542.35 on the BSE. Powered by Capital Market - Live

1 day agoCapital Market - Live
Earnings
Varun Beverages consolidated net profit rises 40.30% in the December 2024 quarter

Net profit of Varun Beverages rose 40.30% to Rs 185.15 crore in the quarter ended December 2024 as against Rs 131.97 crore during the previous quarter ended December 2023. Sales rose 38.28% to Rs 3688.79 crore in the quarter ended December 2024 as against Rs 2667.69 crore during the previous quarter ended December 2023. For the full year,net profit rose 26.20% to Rs 2594.63 crore in the year ended December 2024 as against Rs 2055.92 crore during the previous year ended December 2023. Sales rose 24.72% to Rs 20007.65 crore in the year ended December 2024 as against Rs 16042.58 crore during the previous year ended December 2023. ParticularsQuarter EndedYear EndedDec. 2024Dec. 2023% Var.Dec. 2024Dec. 2023% Var. Sales3688.792667.69 38 20007.6516042.58 25 OPM %15.7015.68 -23.5422.50 - PBDT514.92353.95 45 4380.483420.27 28 PBT254.14187.98 35 3433.092739.36 25 NP185.15131.97 40 2594.632055.92 26 Powered by Capital Market - Live

1 day agoCapital Market - Live
Corporate
Board of Varun Beverages recommends final dividend

Varun Beverages announced that the Board of Directors of the Company at its meeting held on 10 February 2025, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.Powered by Capital Market - Live

1 day agoCapital Market - Live
Corporate
Varun Beverages to hold AGM

Varun Beverages announced that the 30th Annual General Meeting(AGM) of the company will be held on 3 April 2025.Powered by Capital Market - Live

1 day agoCapital Market - Live
Corporate
Varun Beverages schedules board meeting

Varun Beverages will hold a meeting of the Board of Directors of the Company on 10 February 2025.Powered by Capital Market - Live

1 week agoCapital Market - Live
Spotlight
Varun Beverages Ltd slips for fifth straight session

Varun Beverages Ltd dropped for a fifth straight session today. The stock is quoting at Rs 598.35, down 1.17% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.02% on the day, quoting at 23521.8. The Sensex is at 77676.23, up 0.07%.Varun Beverages Ltd has lost around 7.08% in last one month.Meanwhile, Nifty FMCG index of which Varun Beverages Ltd is a constituent, has increased around 0.79% in last one month and is currently quoting at 57495.6, down 0.49% on the day. The volume in the stock stood at 24.25 lakh shares today, compared to the daily average of 45.98 lakh shares in last one month. The benchmark January futures contract for the stock is quoting at Rs 600.85, down 1.07% on the day. Varun Beverages Ltd jumped 17.04% in last one year as compared to a 8.66% rally in NIFTY and a 1.75% spurt in the Nifty FMCG index.The PE of the stock is 91.7 based on TTM earnings ending September 24.Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Varun Beverages allots 41,250 equity shares under ESOP

Varun Beverages has allotted 41,250 equity shares under ESOP on 16 December 2024. Consequent to the aforesaid allotment, the paid-up shares of the Company is increased from 338,14,68,767 equity shares to 338,15,10,017 equity shares having face value of Rs. 2/- each. Powered by Capital Market - Live

1 month agoCapital Market - Live
Spotlight
Varun Beverages Ltd spurts 3.8%, up for third straight session

Varun Beverages Ltd rose for a third straight session today. The stock is quoting at Rs 633.05, up 3.8% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78340.19, up 1.29%. Varun Beverages Ltd has added around 9.44% in last one month. Meanwhile, Nifty FMCG index of which Varun Beverages Ltd is a constituent, has added around 5.68% in last one month and is currently quoting at 56314.35, up 0.96% on the day. The volume in the stock stood at 61.31 lakh shares today, compared to the daily average of 54.56 lakh shares in last one month.The PE of the stock is 88.84 based on TTM earnings ending September 24.Powered by Capital Market - Live

2 months agoCapital Market - Live