Nifty

:

24435.95

Sensex

:

77966.35

-35.75 (-0.15%)
-187.90 (-0.24%)

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Nifty
Sensex

:
:

24435.95
77966.35

-35.75 (-0.15%)
-187.90 (-0.24%)

Varun Beverages Ltd.

Consumer Food

Rating :

55/99

BSE: 540180 | NSE: VBL

Watchlist

NSE BSE

440.50

12-Aug-2026

Open
High
Low
Previous Close

439.15
440.5
434
437.00

Volume
Traded Value (lacs)
52 Week High
52 Week Low

1837489
801893363.05
555.8
381

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

1,48,304.17
43.80
2

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

1,48,677.15
0.34%
6.81

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

18.84
19.70
10.57

EBITDA CAGR (%)

10 Years
5 Years
3 Years

20.32
24.80
6.92

PAT CAGR (%)

10 Years
5 Years
3 Years

53.29
34.34
13.88

P:E (Median)

8 Years
5 Years
3 Years

58.73
61.10
63.79

P:BV (Average)

8 Years
5 Years
3 Years

11.60
14.44
15.17

EV:EBITDA (Average)

8 Years
5 Years
3 Years

28.89
34.70
38.47

Earnings Forecasts:

(Updated: 08-08-2026)

Description 2026 2027 2028 2029
Adj EPS 53 10 14.34 10.3
P/E Ratio 8.31 44.05 30.72 42.77
Revenue 42.68 37.91 34.02 25448.4
EBITDA 29012.8 32266.5 34104 5914.68
Net Income 6761.15 7572.46 8583.54 3500.98
ROA 4100.88 4604.19 3433.03 19.01
P/B Ratio -0.11 -0.07 -0.05 6.70
ROE 6.81 5.94 5.02 16.77
FCFF 17.27 17.1 16.91 3144.57
FCFF Yield 3422.37 3509.72 3999.45 1.81
Net Debt 1.97 2.02 2.31 -1532.86
BVPS -4018.26 -6423.7 -9452.7 65.72

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Jun 26 Jun 25 Var% Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var%
Net Sales 5,996.21 5,305.02 13.03% 4,500.55 4,052.53 11.06% 2,135.29 2,014.03 6.02% 3,063.98 3,086.84 -0.74%
Expenses 4,118.04 3,663.54 12.41% 3,328.20 3,042.21 9.40% 1,809.91 1,690.90 7.04% 2,277.19 2,285.88 -0.38%
EBITDA 1,878.17 1,641.48 14.42% 1,172.35 1,010.32 16.04% 325.38 323.13 0.70% 786.80 800.96 -1.77%
EBIDTM 31.32% 30.94% 26.05% 24.93% 15.24% 16.04% 25.68% 25.95%
Other Income 104.39 90.01 15.98% 74.32 59.80 24.28% 214.43 153.90 39.33% 149.69 100.17 49.44%
Interest 3.94 3.69 6.78% 4.26 7.80 -45.38% 12.82 63.89 -79.93% 7.94 98.64 -91.95%
Depreciation 223.50 180.11 24.09% 198.98 165.01 20.59% 185.28 154.33 20.05% 172.03 157.31 9.36%
PBT 1,755.12 1,547.70 13.40% 1,043.44 897.31 16.29% 341.71 258.80 32.04% 756.52 645.19 17.26%
Tax 430.79 387.54 11.16% 255.53 219.25 16.55% 80.69 50.18 60.80% 179.12 152.85 17.19%
PAT 1,324.33 1,160.16 14.15% 787.91 678.06 16.20% 261.02 208.62 25.12% 577.40 492.34 17.28%
PATM 22.09% 21.87% 17.51% 16.73% 12.22% 10.36% 18.84% 15.95%
EPS 3.92 3.43 14.29% 2.33 2.00 16.50% 0.77 0.62 24.19% 1.71 1.46 17.12%

Description Jun 26 Jun 25 Var% Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var%
Net Sales 8,650.57 7,163.02 20.77% 6,721.54 5,680.03 18.34% 4,334.80 3,817.62 13.55% 5,047.74 4,932.06 2.35%
Expenses 6,307.53 5,164.25 22.14% 5,192.61 4,416.06 17.58% 3,695.54 3,237.64 14.14% 3,900.37 3,780.94 3.16%
EBITDA 2,343.04 1,998.77 17.22% 1,528.93 1,263.96 20.96% 639.26 579.97 10.22% 1,147.38 1,151.12 -0.32%
EBIDTM 27.09% 27.90% 22.75% 22.25% 14.75% 15.19% 22.73% 23.34%
Other Income 104.38 77.16 35.28% 43.53 28.06 55.13% 99.11 44.64 122.02% 148.03 24.25 510.43%
Interest 56.92 36.55 55.73% 48.52 41.12 18.00% 46.69 109.00 -57.17% 45.21 118.53 -61.86%
Depreciation 409.03 306.15 33.60% 356.79 272.51 30.93% 330.20 260.78 26.62% 307.60 256.61 19.87%
PBT 1,981.46 1,733.23 14.32% 1,167.14 978.38 19.29% 361.47 254.82 41.85% 942.59 800.23 17.79%
Tax 451.82 406.56 11.13% 284.48 246.45 15.43% 98.88 58.49 69.05% 195.72 171.31 14.25%
PAT 1,529.64 1,326.68 15.30% 882.66 731.94 20.59% 262.59 196.33 33.75% 746.87 628.92 18.75%
PATM 17.68% 18.52% 13.13% 12.89% 6.06% 5.14% 14.80% 12.75%
EPS 4.50 3.89 15.68% 2.58 2.15 20.00% 0.74 0.55 34.55% 2.19 1.91 14.66%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description TTM Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Net Sales 15,696.03 14,556.82 14,348.60 12,632.83 10,595.83 6,595.74 4,876.45 5,615.66 3,862.28 3,062.59 2,979.60 Net Sales Growth 8.56% 1.45% 13.58% 19.22% 60.65% 35.26% -13.16% 45.40% 26.11% 2.79% Cost Of Goods Sold 7,258.33 6,755.32 6,603.98 5,990.40 5,277.14 3,129.17 2,215.67 2,611.94 1,774.41 1,404.31 1,365.87 Gross Profit 8,437.70 7,801.51 7,744.62 6,642.43 5,318.68 3,466.57 2,660.77 3,003.73 2,087.86 1,658.28 1,613.74 GP Margin 53.76% 53.59% 53.97% 52.58% 50.20% 52.56% 54.56% 53.49% 54.06% 54.15% 54.16% Total Expenditure 11,533.34 10,791.87 10,661.09 9,648.02 8,415.83 5,415.34 4,016.47 4,410.56 2,999.70 2,339.70 2,277.37 Power & Fuel Cost - 474.54 475.65 436.94 388.97 258.39 203.07 220.19 158.80 130.38 124.20 % Of Sales - 3.26% 3.31% 3.46% 3.67% 3.92% 4.16% 3.92% 4.11% 4.26% 4.17% Employee Cost - 1,260.22 1,177.55 1,036.80 920.47 741.12 695.06 630.81 411.47 319.13 280.06 % Of Sales - 8.66% 8.21% 8.21% 8.69% 11.24% 14.25% 11.23% 10.65% 10.42% 9.40% Manufacturing Exp. - 1,417.13 1,452.27 1,349.84 1,172.94 787.26 597.55 633.65 448.14 318.94 353.56 % Of Sales - 9.74% 10.12% 10.69% 11.07% 11.94% 12.25% 11.28% 11.60% 10.41% 11.87% General & Admin Exp. - 395.29 407.25 365.17 271.37 238.94 168.99 204.92 127.97 106.37 90.86 % Of Sales - 2.72% 2.84% 2.89% 2.56% 3.62% 3.47% 3.65% 3.31% 3.47% 3.05% Selling & Distn. Exp. - 442.43 435.93 376.33 328.15 228.65 126.97 103.07 61.31 39.08 47.69 % Of Sales - 3.04% 3.04% 2.98% 3.10% 3.47% 2.60% 1.84% 1.59% 1.28% 1.60% Miscellaneous Exp. - 46.95 108.46 92.55 56.77 31.81 9.15 5.99 17.59 21.48 47.69 % Of Sales - 0.32% 0.76% 0.73% 0.54% 0.48% 0.19% 0.11% 0.46% 0.70% 0.51% EBITDA 4,162.70 3,764.95 3,687.51 2,984.81 2,180.00 1,180.40 859.98 1,205.10 862.58 722.89 702.23 EBITDA Margin 26.52% 25.86% 25.70% 23.63% 20.57% 17.90% 17.64% 21.46% 22.33% 23.60% 23.57% Other Income 542.83 513.93 353.94 146.14 143.76 57.64 71.99 98.01 91.64 47.39 50.92 Interest 28.96 33.22 353.60 244.45 156.12 156.69 249.95 281.61 195.70 192.45 389.49 Depreciation 779.79 702.42 617.91 518.33 483.13 399.83 412.82 387.20 295.55 273.64 249.46 PBT 3,896.79 3,543.25 3,069.94 2,368.16 1,684.50 681.52 269.21 634.29 462.96 304.19 114.21 Tax 946.13 866.60 749.58 593.04 414.30 192.03 -23.75 185.74 130.60 68.59 24.71 Tax Rate 24.28% 24.46% 24.42% 25.04% 24.59% 28.18% -11.72% 29.28% 28.21% 22.55% 21.64% PAT 2,950.66 2,676.64 2,320.36 1,775.13 1,270.20 489.49 226.43 448.55 332.36 235.60 89.50 PAT before Minority Interest 2,950.66 2,676.64 2,320.36 1,775.13 1,270.20 489.49 226.43 448.55 332.36 235.60 89.50 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 18.80% 18.39% 16.17% 14.05% 11.99% 7.42% 4.64% 7.99% 8.61% 7.69% 3.00% PAT Growth 16.21% 15.35% 30.71% 39.75% 159.49% 116.18% -49.52% 34.96% 41.07% 163.24% EPS 8.72 7.91 6.86 5.25 3.76 1.45 0.67 1.33 0.98 0.70 0.26

Description TTM Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Net Sales 24,754.65 21,685.38 20,007.65 16,042.58 13,173.14 8,823.23 6,450.14 7,129.58 5,105.26 4,003.54 3,861.18 Net Sales Growth 14.64% 8.39% 24.72% 21.78% 49.30% 36.79% -9.53% 39.65% 27.52% 3.69% Cost Of Goods Sold 10,747.28 9,715.42 8,904.72 7,404.89 6,261.15 4,034.66 2,763.94 3,219.43 2,244.10 1,810.06 1,737.88 Gross Profit 14,007.37 11,969.95 11,102.93 8,637.69 6,911.99 4,788.57 3,686.20 3,910.15 2,861.16 2,193.48 2,123.30 GP Margin 56.58% 55.20% 55.49% 53.84% 52.47% 54.27% 57.15% 54.84% 56.04% 54.79% 54.99% Total Expenditure 19,096.05 16,609.60 15,264.11 12,409.60 10,367.07 7,146.32 5,235.64 5,667.26 4,088.43 3,165.22 3,063.01 Power & Fuel Cost - 636.56 629.51 550.28 479.22 329.93 267.00 279.06 194.80 160.04 156.22 % Of Sales - 2.94% 3.15% 3.43% 3.64% 3.74% 4.14% 3.91% 3.82% 4.00% 4.05% Employee Cost - 2,200.74 1,885.03 1,446.59 1,216.64 1,007.70 889.74 810.82 582.95 462.84 421.03 % Of Sales - 10.15% 9.42% 9.02% 9.24% 11.42% 13.79% 11.37% 11.42% 11.56% 10.90% Manufacturing Exp. - 2,558.19 2,373.18 1,828.22 1,531.96 1,074.15 873.02 824.06 624.40 435.57 459.34 % Of Sales - 11.80% 11.86% 11.40% 11.63% 12.17% 13.53% 11.56% 12.23% 10.88% 11.90% General & Admin Exp. - 673.88 618.95 503.78 371.91 344.48 259.82 258.91 172.74 141.13 147.72 % Of Sales - 3.11% 3.09% 3.14% 2.82% 3.90% 4.03% 3.63% 3.38% 3.53% 3.83% Selling & Distn. Exp. - 770.55 669.55 509.55 418.00 316.32 157.36 167.51 153.64 115.28 111.36 % Of Sales - 3.55% 3.35% 3.18% 3.17% 3.59% 2.44% 2.35% 3.01% 2.88% 2.88% Miscellaneous Exp. - 54.26 183.16 166.29 88.18 39.08 24.77 107.47 115.80 40.30 111.36 % Of Sales - 0.25% 0.92% 1.04% 0.67% 0.44% 0.38% 1.51% 2.27% 1.01% 0.76% EBITDA 5,658.61 5,075.78 4,743.54 3,632.98 2,806.07 1,676.91 1,214.50 1,462.32 1,016.83 838.32 798.17 EBITDA Margin 22.86% 23.41% 23.71% 22.65% 21.30% 19.01% 18.83% 20.51% 19.92% 20.94% 20.67% Other Income 395.05 352.35 121.27 79.36 38.85 68.26 36.97 42.53 21.82 12.51 35.73 Interest 197.34 195.98 482.86 291.60 204.09 207.31 293.74 324.31 222.80 214.59 434.74 Depreciation 1,403.62 1,216.46 947.39 680.91 617.19 531.26 528.70 488.63 385.07 346.64 322.21 PBT 4,452.66 4,015.68 3,434.57 2,739.84 2,023.64 1,006.61 429.03 691.91 430.78 289.60 76.96 Tax 1,030.90 947.61 798.80 637.55 473.52 260.56 5.23 224.07 133.94 76.89 31.30 Tax Rate 23.15% 23.60% 23.26% 23.27% 23.40% 25.88% 1.44% 32.38% 31.09% 26.55% 40.67% PAT 3,421.76 3,036.49 2,594.63 2,055.92 1,497.43 694.05 328.99 468.97 292.84 210.16 42.38 PAT before Minority Interest 3,398.62 3,062.04 2,634.28 2,101.81 1,550.11 746.05 357.27 472.20 299.86 214.06 48.04 Minority Interest -23.14 -25.55 -39.65 -45.89 -52.68 -52.00 -28.28 -3.23 -7.02 -3.90 -5.66 PAT Margin 13.82% 14.00% 12.97% 12.82% 11.37% 7.87% 5.10% 6.58% 5.74% 5.25% 1.10% PAT Growth 18.65% 17.03% 26.20% 37.30% 115.75% 110.96% -29.85% 60.15% 39.34% 395.89% EPS 10.12 8.98 7.67 6.08 4.43 2.05 0.97 1.39 0.87 0.62 0.13

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Shareholder's Funds 18,764.80 16,558.71 7,075.80 5,517.40 4,398.62 4,011.77 3,867.12 2,588.94 2,296.80 2,136.74 Share Capital 676.40 676.30 649.61 649.55 433.03 288.69 288.69 182.64 182.59 182.31 Total Reserves 18,069.88 15,863.93 6,417.35 4,864.94 3,965.59 3,723.08 3,578.43 2,406.26 2,113.98 1,953.84 Non-Current Liabilities 958.34 751.95 3,640.71 2,283.24 2,219.51 2,377.19 2,729.33 2,140.62 1,831.76 1,309.76 Secured Loans 266.39 144.21 3,010.55 1,653.26 1,712.44 1,954.35 2,291.71 1,835.91 1,559.51 1,063.87 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46.65 59.26 Long Term Provisions 172.82 177.70 205.63 197.66 199.46 193.16 160.67 97.65 65.85 53.95 Current Liabilities 1,277.14 2,173.32 3,292.94 3,268.31 2,447.49 1,907.62 1,847.27 1,400.69 1,204.11 1,180.54 Trade Payables 447.94 557.83 491.86 575.79 463.46 272.07 317.88 178.32 83.83 144.41 Other Current Liabilities 791.54 932.11 1,910.44 2,079.47 1,366.75 967.73 1,007.89 816.71 872.91 839.08 Short Term Borrowings 0.00 568.34 775.50 517.29 560.52 635.54 411.04 318.88 192.59 148.25 Short Term Provisions 37.66 115.04 115.14 95.75 56.75 32.28 110.46 86.78 54.78 48.79 Total Liabilities 21,000.28 19,483.98 14,009.45 11,068.95 9,065.62 8,296.58 8,443.72 6,130.25 5,332.67 4,627.04 Net Block 10,836.94 9,181.10 6,938.21 5,751.87 5,011.61 5,263.41 5,401.75 3,321.82 3,278.00 2,991.53 Gross Block 15,239.99 12,910.12 10,138.82 8,559.89 7,410.59 7,308.34 7,175.72 4,743.23 4,554.31 4,087.15 Accumulated Depreciation 4,403.05 3,729.02 3,200.61 2,808.02 2,398.98 2,044.93 1,773.96 1,421.41 1,276.30 1,095.62 Non Current Assets 15,894.60 14,145.93 11,074.33 8,617.05 7,297.40 7,030.10 7,064.97 5,184.64 4,567.08 4,043.46 Capital Work in Progress 140.73 960.03 1,576.00 539.95 477.95 39.01 58.58 339.23 11.97 68.94 Non Current Investment 3,770.46 2,096.01 1,449.95 1,354.32 1,352.24 1,352.16 907.78 774.50 627.19 500.53 Long Term Loans & Adv. 1,143.71 1,900.66 1,102.28 967.30 451.72 371.98 692.21 745.19 646.15 479.48 Other Non Current Assets 2.76 8.13 7.89 3.62 3.87 3.54 4.65 3.90 3.77 2.98 Current Assets 5,099.03 5,338.05 2,935.13 2,451.90 1,768.22 1,266.47 1,378.75 945.61 718.49 583.58 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Inventories 1,659.03 1,688.70 1,535.87 1,426.15 1,066.27 679.06 672.98 418.32 315.67 359.97 Sundry Debtors 266.21 199.76 212.94 150.24 132.07 170.53 130.53 134.47 94.69 47.14 Cash & Bank 1,599.94 2,058.71 52.31 47.49 24.23 36.48 32.42 1.84 31.27 14.94 Other Current Assets 1,573.86 977.54 768.25 479.73 545.64 380.41 542.82 390.98 276.85 161.52 Short Term Loans & Adv. 249.40 413.34 365.75 348.29 253.09 154.75 250.71 205.81 135.89 123.96 Net Current Assets 3,821.89 3,164.73 -357.81 -816.41 -679.26 -641.14 -468.52 -455.07 -485.62 -596.96 Total Assets 20,993.63 19,483.98 14,009.46 11,068.95 9,065.62 8,296.57 8,443.72 6,130.25 5,285.57 4,627.04

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Shareholder's Funds 19,578.70 16,609.83 6,936.50 5,102.38 4,079.91 3,524.00 3,328.42 1,998.50 1,769.43 1,693.60 Share Capital 676.40 676.30 649.61 649.55 433.03 288.69 288.69 182.64 182.59 182.31 Total Reserves 18,883.79 15,915.06 6,278.04 4,449.92 3,646.88 3,235.31 3,039.73 1,815.82 1,586.60 1,510.70 Non-Current Liabilities 1,725.82 1,860.22 3,949.32 2,434.00 2,362.54 2,423.63 2,796.19 2,250.86 1,918.76 1,416.20 Secured Loans 540.45 840.69 3,188.94 1,727.02 1,813.33 1,979.62 2,355.38 1,973.66 1,632.52 1,143.38 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.41 58.85 74.98 Long Term Provisions 190.46 189.43 212.64 204.11 208.54 203.91 170.34 105.25 73.26 60.59 Current Liabilities 4,073.95 4,524.43 4,153.21 3,968.75 3,020.25 2,434.95 2,220.29 1,740.87 1,588.85 1,727.53 Trade Payables 1,401.30 1,560.43 758.25 824.26 711.75 511.38 477.66 316.80 190.95 274.59 Other Current Liabilities 1,337.54 1,537.86 2,270.21 2,412.04 1,616.32 1,172.64 1,230.30 997.90 1,020.95 1,019.30 Short Term Borrowings 1,272.29 1,286.61 1,003.21 627.70 628.49 713.86 467.15 377.65 353.37 411.13 Short Term Provisions 62.80 139.52 121.55 104.76 63.68 37.06 45.18 48.52 23.59 22.51 Total Liabilities 25,540.72 23,124.29 15,187.19 11,618.24 9,579.49 8,447.37 8,375.58 5,998.00 5,275.61 4,824.42 Net Block 16,758.93 13,401.74 8,409.17 6,932.22 6,310.77 6,408.62 6,479.04 4,386.97 3,980.52 3,715.49 Gross Block 23,600.15 18,801.84 12,445.09 10,441.42 9,409.89 9,032.83 8,744.53 6,171.64 5,634.54 5,158.93 Accumulated Depreciation 6,841.22 5,400.11 4,035.92 3,509.20 3,099.12 2,624.22 2,265.49 1,784.67 1,654.02 1,443.43 Non Current Assets 17,644.67 15,260.30 10,951.55 8,214.21 7,033.37 6,647.69 6,703.70 4,857.26 4,306.98 3,971.86 Capital Work in Progress 270.79 1,166.71 1,922.22 606.63 496.61 66.81 63.82 352.36 145.44 95.58 Non Current Investment 174.28 59.50 21.08 0.01 0.00 0.00 0.00 11.24 8.23 6.87 Long Term Loans & Adv. 432.43 622.36 591.16 671.74 222.11 168.72 156.13 102.78 169.03 150.93 Other Non Current Assets 8.25 9.99 7.92 3.62 3.87 3.54 4.71 3.90 3.77 2.98 Current Assets 7,889.40 7,863.97 4,235.63 3,404.03 2,546.11 1,799.68 1,671.88 1,140.75 930.13 852.56 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Inventories 2,951.79 2,791.23 2,150.53 1,993.88 1,448.09 928.80 881.51 578.40 438.89 489.93 Sundry Debtors 1,249.03 845.84 359.38 299.34 221.25 241.80 172.56 128.03 150.25 131.34 Cash & Bank 1,998.49 2,450.05 459.86 285.27 336.62 190.05 171.08 93.48 94.46 65.70 Other Current Assets 1,690.09 858.79 739.89 401.53 540.16 439.03 446.74 340.85 246.52 165.59 Short Term Loans & Adv. 504.62 918.05 525.96 424.01 288.89 246.38 212.85 191.58 146.30 141.13 Net Current Assets 3,815.46 3,339.55 82.42 -564.72 -474.13 -635.27 -548.41 -600.12 -658.72 -874.97 Total Assets 25,534.07 23,124.27 15,187.18 11,618.24 9,579.48 8,447.37 8,375.58 5,998.01 5,237.11 4,824.42

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Cash From Operating Activity 2,576.99 2,966.94 1,952.88 1,558.79 867.86 719.67 1,066.91 742.05 499.56 751.65 PBT 3,543.25 3,069.94 2,368.16 1,684.50 681.52 202.68 634.29 462.96 304.19 114.21 Adjustment 246.66 748.68 706.79 574.52 525.17 666.59 579.90 431.88 442.75 613.20 Changes in Working Capital -405.13 -189.16 -491.26 -367.39 -240.31 -101.98 -37.14 -93.87 -198.67 75.25 Cash after chg. in Working capital 3,384.77 3,629.45 2,583.70 1,891.63 966.39 767.29 1,177.05 800.97 548.28 802.65 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -807.78 -662.51 -630.82 -332.85 -98.52 -47.62 -110.14 -58.93 -48.72 -51.00 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -2,056.89 -3,687.09 -2,769.57 -1,509.31 -725.33 -227.97 -2,229.34 -704.45 -809.45 -1,108.50 Net Fixed Assets -1,510.57 -2,155.33 -2,614.98 -1,211.30 -541.19 -113.05 -2,151.84 -516.18 -410.19 -310.74 Net Investments -1,674.45 -646.06 -95.63 -2.08 -0.08 -444.38 -133.28 -147.31 -126.66 -196.61 Others 1,128.13 -885.70 -58.96 -295.93 -184.06 329.46 55.78 -40.96 -272.60 -601.15 Cash from Financing Activity -979.39 2,728.75 818.78 -26.23 -154.79 -487.65 1,193.01 -67.08 326.29 352.78 Net Cash Inflow / Outflow -459.29 2,008.60 2.09 23.24 -12.26 4.05 30.58 -29.49 16.40 -4.06 Opening Cash & Equivalents 2,058.08 49.48 47.39 24.15 36.40 32.35 1.77 31.26 14.87 18.93 Closing Cash & Equivalent 1,598.79 2,058.08 49.48 47.39 24.15 36.40 32.35 1.77 31.26 14.87

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Cash From Operating Activity 3,509.31 3,381.10 2,390.78 1,790.03 1,231.42 1,011.99 1,307.60 999.78 619.76 825.78 PBT 4,015.68 3,434.57 2,739.84 2,023.64 1,006.61 362.50 691.91 430.78 289.60 76.96 Adjustment 952.84 1,343.48 992.36 724.91 617.79 837.85 820.92 692.34 583.81 743.24 Changes in Working Capital -571.05 -669.39 -673.48 -585.19 -268.75 -110.84 -85.12 -50.05 -196.54 63.65 Cash after chg. in Working capital 4,397.47 4,108.66 3,058.72 2,163.36 1,355.65 1,089.51 1,427.71 1,073.07 676.87 883.84 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -888.15 -727.57 -667.94 -373.33 -124.23 -77.52 -120.11 -73.29 -57.11 -58.06 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -2,734.94 -4,316.78 -3,289.87 -1,704.60 -1,010.64 -471.10 -2,319.25 -873.42 -745.27 -1,047.80 Net Fixed Assets -1,510.57 -2,155.33 -2,614.98 -1,211.30 -541.19 -113.05 -2,151.84 -516.18 -410.19 -310.74 Net Investments -1,674.45 -646.06 -95.63 -2.08 -0.08 -444.38 -133.28 -147.31 -126.66 -196.61 Others 450.08 -1,515.39 -579.26 -491.22 -469.37 86.33 -34.13 -209.93 -208.42 -540.45 Cash from Financing Activity -1,266.46 2,953.54 984.90 -17.94 -177.68 -573.72 1,107.34 -84.39 158.63 230.23 Net Cash Inflow / Outflow -492.09 2,017.85 85.81 67.49 43.10 -32.83 95.69 41.97 33.13 8.21 Opening Cash & Equivalents 2,266.28 242.21 154.33 150.75 104.56 137.97 42.94 64.95 32.50 24.29 Closing Cash & Equivalent 1,784.18 2,266.28 242.21 154.33 150.75 104.56 137.97 42.94 64.95 32.50

Financial Ratios

Consolidated /

Standalone

Right to Left

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Book Value (Rs.) 55.43 48.91 21.76 42.45 67.72 92.64 133.95 94.50 83.86 78.13 ROA 13.22% 13.86% 14.16% 12.62% 5.64% 2.70% 6.16% 5.80% 4.73% 2.04% ROE 15.17% 19.66% 28.22% 25.63% 11.64% 5.75% 13.90% 13.61% 10.63% 7.03% ROCE 19.58% 23.43% 25.09% 22.23% 11.45% 6.41% 15.08% 13.92% 12.45% 16.22% Fixed Asset Turnover 1.04 1.26 1.37 1.36 0.93 0.81 1.15 0.83 0.91 1.06 Receivable days 5.80 5.19 5.19 4.74 8.10 9.41 7.04 10.83 6.61 4.25 Inventory Days 41.69 40.57 42.33 41.87 46.73 42.24 28.97 34.68 31.46 31.10 Payable days 27.17 29.01 32.53 35.94 42.90 25.27 19.16 14.86 16.30 18.23 Cash Conversion Cycle 20.32 16.75 14.99 10.68 11.93 26.38 16.85 30.65 21.77 17.12 Total Debt/Equity 0.02 0.05 0.67 0.63 0.72 0.76 0.83 0.96 0.91 0.68 Interest Cover 107.67 9.68 10.69 11.79 5.35 1.81 3.25 3.37 2.58 1.29

Description Dec 25 Dec 24 Dec 23 Dec 22 Dec 21 Dec 20 Dec 19 Dec 18 Dec 17 Dec 16
Book Value (Rs.) 57.84 49.06 21.33 39.25 62.81 81.38 115.29 72.95 64.60 61.93 ROA 12.58% 13.75% 15.68% 14.63% 8.28% 4.25% 6.51% 5.27% 4.21% 0.99% ROE 16.94% 22.40% 34.95% 33.77% 19.62% 10.43% 17.57% 15.76% 12.29% 4.76% ROCE 20.73% 25.18% 28.97% 27.47% 17.13% 9.73% 17.59% 14.16% 12.10% 15.36% Fixed Asset Turnover 1.09 1.36 1.46 1.39 1.01 0.86 1.16 0.89 0.84 0.93 Receivable days 16.54 10.36 7.22 6.90 9.08 9.87 6.36 9.71 11.38 9.23 Inventory Days 45.34 42.47 45.42 45.61 46.59 43.13 30.87 35.51 37.53 36.83 Payable days 55.63 47.52 39.00 44.77 55.33 32.77 24.40 21.80 24.92 25.83 Cash Conversion Cycle 6.24 5.31 13.63 7.74 0.34 20.23 12.83 23.43 23.99 20.23 Total Debt/Equity 0.10 0.14 0.75 0.72 0.82 0.91 1.03 1.41 1.50 1.31 Interest Cover 21.46 8.11 10.39 10.92 5.86 2.23 3.13 2.93 2.35 1.18

Top Investors:

lici new pension plus growth fund

government pension fund global

nippon life india trustee ltd.-a/c nippon india ac

sbi arbitrage opportunities fund

nps trust - a/c sbi pension fund scheme - nps tier

Annual Reports:

News Update:

Varun Beverages - Quarterly Results
29th Jul 2026, 00:00 AM

Read More
Varun Beverages' arm to acquire DFIL Kenya business
7th Jul 2026, 11:43 AM

The transaction is expected to be completed on or before August 1, 2026
Read More
Varun Beverages, Asahi Group Holdings ink pact to introduce CALPIS products into Indian market
18th Jun 2026, 12:17 PM

Varun Beverages will handle manufacturing, distribution and sales
Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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