5nance5nance
5nance5nance
HomeScreens
LOGINGET FREE ACCOUNT

Varun Beverages Ltd.

•
varunbeverages.comBSE: 540180NSE: VBL
Market Cap₹ 1,40,795 Cr.
Current Price
High / Low₹ 556 / 381
Stock P/E41.6
Book Value₹ 64
Price to Book8.47
Dividend Yield0.36 %
ROCE20.7 %
ROE16.9 %
Face Value₹ 2

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence
62%
View full sector analysis →

PROS

  • Company has a healthy return on capital (ROCE) of 25.0%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.8%
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.19x)
  • Company comfortably covers its interest (21.5x coverage)
  • Stock looks reasonably valued - P/E of 41.6 is below its historical median
  • Company maintains a comfortable, low leverage position

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Recent results are weak - TTM profit is down 17.1% versus prior year
  • Promoter holding has decreased over last 2 years: -3.2pp
  • Stock is trading at 8.5x its book value
  • Rich enterprise valuation - EV/EBITDA of 30.5x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGConsumer Food
Part ofNIFTY NEXT 50NIFTY FMCGNIFTY100 QUALTY30NIFTYLARGEMIDCAP250NIFTY CONSUMPTION
S.No.Name
1.NESTLEIND1384.0070.03266878.700.879586.801382.6763781.801157.0498.3523.86
2.VBL416.2541.58140795.100.361525.3615.088650.5720.7720.7327.04
3.BRITANNIA4970.0045.97119711.541.82593.3814.084999.9710.2656.4816.77
4.JUBLFOOD470.4071.5231039.120.26100.036.032569.6513.6625.5619.77
5.HATSUN1222.8078.2027237.660.4960.58—2363.7217.6117.4010.81
6.MILKYMIST293.30177.7822579.510.00646.79—9734.46—13.7914.77
7.ZYDUSWELL552.6593.4317583.150.22118.90-7.041437.0067.544.4216.82
8.DEVYANI137.950.0017008.400.00171.047576.8415805.161064.748.9816.09
9.LTFOODS437.8523.7415204.470.69183.458.873151.8327.9219.7711.26
10.BIKAJI548.5053.2013752.890.2359.471.62734.2615.2621.6513.48
11.MANORAMA2063.4552.8113024.990.0478.6667.55404.0139.5335.0026.29
12.KWIL43.050.0010114.990.0050.70354.77878.3099.34—11.77
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
5,7003,9382,7314,3987,3344,9323,8185,6807,1635,0484,3356,7228,651
4,1893,0562,3133,4095,3423,7813,2384,4165,1643,9003,6965,1936,773
Operating Profit1,5118824189891,9911,1515801,2641,9991,1476391,5291,877
OPM %26.51%22.40%15.32%22.48%27.15%23.34%15.19%22.25%27.90%22.73%14.75%22.75%21.70%
42199844244528771489944104
Interest69627494129119109413745474957
Depreciation172171166188242257261273306308330357409
Profit before Tax1,3116671887161,6648002559781,7339433611,1671,977
Tax %23.31%22.91%23.55%23.43%24.12%21.41%22.95%25.19%23.46%20.76%27.35%24.37%22.85%
Net Profit00001,2626291967311,3257452608791,525
7.651.540.411.653.861.910.562.153.892.190.742.584.50

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2023Dec 2024Dec 2025TTM
16,04320,00821,68524,755
12,41015,26416,61019,562
Operating Profit3,6334,7445,0765,193
OPM %22.65%23.71%23.41%20.98%
79121352395
Interest292483196197
Depreciation6819471,2161,404
Profit before Tax2,7393,4334,0104,448
Tax %23.27%23.27%23.63%23.17%
Net Profit2,1022,6343,0623,417
EPS15.827.678.98—
Dividend Payout %15.80%13.03%16.71%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

STOCK PRICE CAGR

10 Years:
—
5 Years:
27%
3 Years:
4%
1 Year:
-12%

RETURN ON EQUITY

10 Years:
—
5 Years:
—
3 Years:
25%
Last Year:
17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2022

Jun 6

1:2

2021

Jun 10

1:2

The Board of Directors at their meeting held today (started at 11:00 A.M. and concluded at 11:30 A.M.) inter-alia considered and approved the following: 1. The Unaudited Financial Results of the Company (Standalone and Consolidated) for the Quarter ended March 31, 2021 2. Recommended the Bonus Issue of Equity Shares in the proportion of 1 (One) Equity Share of Rs. 10 each for every 2 (Two) Equity Shares of Rs. 10 each held by the shareholders of the Company as on the record date, subject to the approval of shareholders through Postal Ballot i.e. in compliance with the applicable laws. 3. In supersession of earlier decision, appointment of Link Intime India Private Limited in place of KFin Technologies Private Limited (formerly Karvy Fintech Private Limited) as Registrar and Share Transfer Agent (RTA) of the Company w.e.f May 3, 2021 for better services. Till such time the process of change of RTA is completed, KFin Technologies Private Limited will continue as RTA of the Company

Dec 2023Dec 2024Dec 2025
Equity Capital650676676
Minority Interest148130162
6,27815,91518,884
4,3972,4892,213
Trade Payables7581,5601,401
2,9562,3542,204
Total Liabilities15,18723,12425,541
8,40913,40216,759
Capital Work in Progress1,9221,162266
2160174
2,1512,7912,952
3598461,249
Cash & Bank4602,4501,998
1,8652,4142,142
Total Assets15,18723,12425,541

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2023Dec 2024Dec 2025
2,3913,3813,509
Cash from Investing-3,290-4,317-2,735
Cash from Financing9852,954-1,266
862,018-492

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2023Dec 2024Dec 2025

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
62.6662.6660.2060.2359.8259.4459.4459.4459.43
25.3224.1925.2722.9821.8621.9320.3119.5119.03
4.544.977.009.1910.5211.7813.5614.3515.16
Government0.000.000.000.000.000.000.000.000.00
Public7.478.187.527.597.806.846.706.666.33

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11
ESOP/ESOS/ESPS

2026-09-11 - The Share Allotment Committee today approved the allotment of 29,750 Equity Shares of face value of Rs. 2 each upon exercise of stock options vested under the Employees Stock Option Scheme 2016 as per details in enclosed intimation.

2026-09-09
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - We wish to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, representatives of the Company shall participate in the meeting of group of investors as per schedule given in the enclosed intimation.

2026-08-31
General Updates

2026-08-31 - Update on incorporation of KIVA Spirits and Company Limited as per details enclosed.

2026-08-25
General Updates

2026-08-25 - The Board of Directors at their meeting held today inter-alia approved: (i) to incorporate a wholly-owned subsidiary company in India, (ii) appointment of Mr. Prathmesh Mishra as CEO & Managing Director of above-mentioned proposed wholly-owned subsidiary company in India; and (iii) to incorporate a joint venture company in Tunisia as per details in enclosed disclosure.

2026-08-17
General Updates

2026-08-17 - In continuation to our earlier disclosure dated July 2, 2026 wherein we had informed that the Board of Directors of The Beverage Company Proprietary Limited ( Bevco , a subsidiary of the company) and Twizza Proprietary Limited ( Twizza , a step-down subsidiary of the company) approved the merger of Twizza with its holding company i.e. Bevco, subject to applicable laws in South Africa, we would like to update that the above-mentioned merger of Twizza with Bevco has been completed and consequently, Twizza is ceased to be a step-down subsidiary of the Company. The above information was received today (at 06:59 P.M. IST) by our Company.The detailed disclosure as required under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 had already been submitted in our earlier intimation dated July 2, 2026.

2026-08-11
General Updates

2026-08-11 - Intimation of ESG Rating

2026-08-10
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - We wish to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, representatives of the Company shall participate in the meeting of group of investors as per schedule given in the enclosed intimation.

2026-08-04
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - Transcript of Investors & Analysts Conference Call.

2026-08-04
General Updates

2026-08-04 - We would like to inform you that Varun Beverages (Zimbabwe) (Private) Limited, subsidiary company, has incorporated a joint venture company in Zimbabwe namely Varun Beverages Holding (Zimbabwe) (Private) Limited .

News

Recent coverage and analyst commentary for VBL

Loading news…

🤖

AI Stock Analyst

Varun Beverages Ltd.

🔒

Sign in to Chat with AI

Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.

✨ Sign In to Chat

Free 5nance Account

5nance5nance

Stock analysis and screening tool

5nanceAI © 2020-2026

Made with ❤️ in India.

Data provided by Accord Fintech

Terms & Privacy.

Product

PremiumWhat's new?Learn

Team

About usSupport

Theme

5nance5nance

Product

PremiumWhat's new?Learn

Team

About usSupport

Theme

5nanceAI © 2020-2026

Data provided by Accord Fintech

Made with ❤️ in India.

HomeScreens
Login