Nifty
:
25727.55
Sensex
:
83739.13
639.15 (2.55%)
2072.67 (2.54%)
Nifty
Sensex
:
:
25727.55
83739.13
639.15 (2.55%)
2072.67 (2.54%)

Varun Beverages Ltd.

Consumer Food

Rating :
60/99

BSE: 540180 | NSE: VBL

NSE BSE
451.10
03-Feb-2026
  • Open
  • High
  • Low
  • Previous Close
  •  479
  •  492.15
  •  440.6
  •  466.30
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  28666048
  •  13229334751.25
  •  592.95
  •  419.55

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,52,629.15
  • 53.12
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,52,654.78
  • 0.22%
  • 8.26

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 59.44%
  • 0.85%
  • 5.19%
  • FII
  • DII
  • Others
  • 20.31%
  • 12.35%
  • 1.86%

Chart

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

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 19.41
  • 25.41
  • 14.95

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 22.36
  • 31.32
  • 11.07

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 36.96
  • 51.14
  • 20.11

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 59.46
  • 63.00
  • 64.30

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 11.54
  • 14.46
  • 16.91

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 28.16
  • 34.39
  • 39.36

Earnings Forecasts:

(Updated: 31-01-2026)
Description
2024
2025
2026
2027
Adj EPS
9
10.52
12.11
12.72
P/E Ratio
51.81
44.33
38.51
36.66
Revenue
21730.3
25184.3
28414
30366.6
EBITDA
5105.8
5910.86
6664.04
7017.75
Net Income
3022.76
3567.11
4120.08
4124.08
ROA
18.91
20.48
21.36
19.36
P/B Ratio
8.31
7.29
6.36
5.46
ROE
17.11
17.59
17.92
16.11
FCFF
1599.18
2579.9
3121.07
3620.8
FCFF Yield
1.01
1.62
1.96
2.28
Net Debt
886.36
2161.35
4212.71
9219.35
BVPS
56.09
63.93
73.31
85.36

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Dec 25
Dec 24
Var%
Sep 25
Sep 24
Var%
Jun 25
Jun 24
Var%
Mar 25
Mar 24
Var%
Net Sales
4,334.80
3,817.62
13.55%
5,047.74
4,932.06
2.35%
7,163.02
7,333.67
-2.33%
5,680.03
4,397.98
29.15%
Expenses
3,695.54
3,237.64
14.14%
3,900.37
3,780.94
3.16%
5,164.25
5,342.45
-3.34%
4,416.06
3,409.22
29.53%
EBITDA
639.26
579.97
10.22%
1,147.38
1,151.12
-0.32%
1,998.77
1,991.22
0.38%
1,263.96
988.76
27.83%
EBIDTM
14.75%
15.19%
22.73%
23.34%
27.90%
27.15%
22.25%
22.48%
Other Income
99.11
44.64
122.02%
148.03
24.25
510.43%
77.16
44.03
75.24%
28.06
8.35
236.05%
Interest
46.69
109.00
-57.17%
45.21
118.53
-61.86%
36.55
129.16
-71.70%
41.12
93.69
-56.11%
Depreciation
330.20
260.78
26.62%
307.60
256.61
19.87%
306.15
242.48
26.26%
272.51
187.52
45.32%
PBT
361.47
254.82
41.85%
942.59
800.23
17.79%
1,733.23
1,663.61
4.18%
978.38
715.91
36.66%
Tax
98.88
58.49
69.05%
195.72
171.31
14.25%
406.56
401.24
1.33%
246.45
167.77
46.90%
PAT
262.59
196.33
33.75%
746.87
628.92
18.75%
1,326.68
1,262.37
5.09%
731.94
548.14
33.53%
PATM
6.06%
5.14%
14.80%
12.75%
18.52%
17.21%
12.89%
12.46%
EPS
0.74
0.55
34.55%
2.19
1.91
14.66%
3.89
3.86
0.78%
2.15
1.65
30.30%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Dec 24
Dec 23
Dec 22
Dec 21
Dec 20
Dec 19
Dec 18
Dec 17
Dec 16
Dec 15
Net Sales
22,225.59
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
3,394.15
Net Sales Growth
8.52%
24.72%
21.78%
49.30%
36.79%
-9.53%
39.65%
27.52%
3.69%
13.76%
 
Cost Of Goods Sold
9,715.43
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
1,716.48
Gross Profit
12,510.16
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
1,677.67
GP Margin
56.29%
55.49%
53.84%
52.47%
54.27%
57.15%
54.84%
56.04%
54.79%
54.99%
49.43%
Total Expenditure
17,176.22
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
2,763.43
Power & Fuel Cost
-
629.51
550.28
479.22
329.93
267.00
279.06
194.80
160.04
156.22
131.15
% Of Sales
-
3.15%
3.43%
3.64%
3.74%
4.14%
3.91%
3.82%
4.00%
4.05%
3.86%
Employee Cost
-
1,885.03
1,446.59
1,216.64
1,007.70
889.74
810.82
582.95
462.84
421.03
323.75
% Of Sales
-
9.42%
9.02%
9.24%
11.42%
13.79%
11.37%
11.42%
11.56%
10.90%
9.54%
Manufacturing Exp.
-
2,373.18
1,828.22
1,531.96
1,074.15
873.02
824.06
624.40
435.57
459.34
378.26
% Of Sales
-
11.86%
11.40%
11.63%
12.17%
13.53%
11.56%
12.23%
10.88%
11.90%
11.14%
General & Admin Exp.
-
558.98
453.79
318.03
304.50
221.44
242.13
172.74
141.13
147.72
112.58
% Of Sales
-
2.79%
2.83%
2.41%
3.45%
3.43%
3.40%
3.38%
3.53%
3.83%
3.32%
Selling & Distn. Exp.
-
669.55
509.55
418.00
316.32
157.36
167.51
153.64
115.28
111.36
75.01
% Of Sales
-
3.35%
3.18%
3.17%
3.59%
2.44%
2.35%
3.01%
2.88%
2.88%
2.21%
Miscellaneous Exp.
-
243.14
216.28
142.06
79.06
63.14
124.26
115.80
40.30
29.45
75.01
% Of Sales
-
1.22%
1.35%
1.08%
0.90%
0.98%
1.74%
2.27%
1.01%
0.76%
0.77%
EBITDA
5,049.37
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
630.72
EBITDA Margin
22.72%
23.71%
22.65%
21.30%
19.01%
18.83%
20.51%
19.92%
20.94%
20.67%
18.58%
Other Income
352.36
121.27
79.36
38.85
68.26
36.97
42.53
21.82
12.51
35.73
47.45
Interest
169.57
482.86
291.60
204.09
207.31
293.74
324.31
222.80
214.59
434.74
170.15
Depreciation
1,216.46
947.39
680.91
617.19
531.26
528.70
488.63
385.07
346.64
322.21
317.41
PBT
4,015.67
3,434.57
2,739.84
2,023.64
1,006.61
429.03
691.91
430.78
289.60
76.96
190.61
Tax
947.61
798.80
637.55
473.52
260.56
5.23
224.07
133.94
76.89
31.30
78.86
Tax Rate
23.60%
23.26%
23.27%
23.40%
25.88%
1.44%
32.38%
31.09%
26.55%
40.67%
41.37%
PAT
3,068.08
2,594.63
2,055.92
1,497.43
694.05
328.99
464.61
289.82
208.81
40.00
111.75
PAT before Minority Interest
3,042.53
2,634.28
2,101.81
1,550.11
746.05
357.27
467.84
296.84
212.71
45.66
111.75
Minority Interest
-25.55
-39.65
-45.89
-52.68
-52.00
-28.28
-3.23
-7.02
-3.90
-5.66
0.00
PAT Margin
13.80%
12.97%
12.82%
11.37%
7.87%
5.10%
6.52%
5.68%
5.22%
1.04%
3.29%
PAT Growth
16.40%
26.20%
37.30%
115.75%
110.96%
-29.19%
60.31%
38.80%
422.02%
-64.21%
 
EPS
9.07
7.67
6.08
4.43
2.05
0.97
1.37
0.86
0.62
0.12
0.33

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Dec 24
Dec 23
Dec 22
Dec 21
Dec 20
Dec 19
Dec 18
Dec 17
Dec 16
Dec 15
Shareholder's Funds
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
674.28
Share Capital
676.30
649.61
649.55
433.03
288.69
288.69
182.64
182.59
182.31
583.77
Total Reserves
15,915.06
6,278.04
4,449.92
3,646.88
3,235.31
3,039.73
1,815.82
1,586.60
1,511.28
90.51
Non-Current Liabilities
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
2,403.00
Secured Loans
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
759.61
Unsecured Loans
0.00
0.00
0.00
0.00
0.00
0.00
6.41
58.85
74.98
819.91
Long Term Provisions
189.43
212.64
204.11
208.54
203.91
170.34
105.25
73.26
60.59
44.31
Current Liabilities
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
1,353.96
Trade Payables
1,560.43
758.25
824.26
711.75
511.38
477.66
316.80
190.95
274.59
184.56
Other Current Liabilities
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
879.79
Short Term Borrowings
1,286.61
1,003.21
627.70
628.49
713.86
467.15
377.65
353.37
411.13
252.41
Short Term Provisions
139.52
121.55
104.76
63.68
37.06
45.18
48.52
23.59
22.51
37.21
Total Liabilities
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
4,431.24
Net Block
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
3,495.57
Gross Block
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
4,632.47
Accumulated Depreciation
5,400.11
4,035.92
3,462.14
3,099.11
2,624.22
2,265.49
1,784.67
1,654.02
1,443.43
1,136.90
Non Current Assets
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
3,701.04
Capital Work in Progress
1,166.71
1,922.22
606.63
496.61
66.81
63.82
352.36
145.44
95.58
37.91
Non Current Investment
59.50
21.08
0.01
0.00
0.00
0.00
11.24
8.23
6.87
3.27
Long Term Loans & Adv.
622.36
591.16
671.74
222.11
168.72
156.13
102.78
169.03
150.93
159.28
Other Non Current Assets
9.99
7.92
3.62
3.87
3.54
4.71
3.90
3.77
2.98
5.01
Current Assets
7,863.97
4,235.63
3,404.03
2,546.11
1,799.68
1,671.88
1,140.75
968.62
852.56
730.20
Current Investments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Inventories
2,791.23
2,150.53
1,993.88
1,448.09
928.80
881.51
578.40
438.89
489.93
424.66
Sundry Debtors
845.84
359.38
299.34
221.25
241.80
172.56
128.03
150.25
131.34
97.91
Cash & Bank
2,450.05
459.86
285.27
336.62
190.05
171.08
93.48
94.46
65.70
58.07
Other Current Assets
1,776.84
739.89
401.53
251.27
439.03
446.74
340.85
285.02
165.59
149.56
Short Term Loans & Adv.
918.05
525.96
424.01
288.89
246.38
212.85
191.58
146.30
141.13
109.34
Net Current Assets
3,339.55
82.42
-564.72
-474.13
-635.27
-548.41
-600.12
-620.23
-874.97
-623.76
Total Assets
23,124.27
15,187.18
11,618.24
9,579.48
8,447.37
8,375.58
5,998.01
5,275.60
4,824.42
4,431.24

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Dec 24
Dec 23
Dec 22
Dec 21
Dec 20
Dec 19
Dec 18
Dec 17
Dec 16
Dec 15
Cash From Operating Activity
3,381.10
2,390.78
1,790.03
1,231.42
1,011.99
1,307.60
999.78
619.76
825.78
554.79
PBT
3,434.57
2,739.84
2,023.64
1,006.61
362.50
691.91
430.78
289.60
76.96
190.61
Adjustment
1,343.48
992.36
724.91
617.79
837.85
820.92
692.34
583.81
743.24
454.35
Changes in Working Capital
-669.39
-673.48
-585.19
-268.75
-110.84
-85.12
-50.05
-196.54
63.65
-41.86
Cash after chg. in Working capital
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
603.10
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
-727.57
-667.94
-373.33
-124.23
-77.52
-120.11
-73.29
-57.11
-58.06
-48.30
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
-4,316.78
-3,289.87
-1,704.60
-1,010.64
-471.10
-2,319.25
-873.42
-745.27
-1,047.80
-299.67
Net Fixed Assets
-2,155.33
-2,614.98
-1,211.30
-541.19
-113.05
-2,151.84
-516.18
-410.19
-310.74
Net Investments
-646.06
-95.63
-2.08
-0.08
-444.38
-133.28
-147.31
-126.66
-196.61
Others
-1,515.39
-579.26
-491.22
-469.37
86.33
-34.13
-209.93
-208.42
-540.45
Cash from Financing Activity
2,953.54
984.90
-17.94
-177.68
-573.72
1,107.34
-84.39
158.63
230.23
-236.00
Net Cash Inflow / Outflow
2,017.85
85.81
67.49
43.10
-32.83
95.69
41.97
33.13
8.21
19.12
Opening Cash & Equivalents
242.21
154.33
150.75
104.56
137.97
42.94
64.95
32.50
24.29
5.17
Closing Cash & Equivalent
2,266.28
242.21
154.33
150.75
104.56
137.97
42.94
64.95
32.50
24.29

Financial Ratios

Consolidated /

Standalone
Description
Dec 24
Dec 23
Dec 22
Dec 21
Dec 20
Dec 19
Dec 18
Dec 17
Dec 16
Dec 15
Book Value (Rs.)
49.06
21.33
39.25
62.81
81.38
115.29
72.95
64.60
61.93
11.18
ROA
13.75%
15.68%
14.63%
8.28%
4.25%
6.51%
5.27%
4.21%
0.99%
2.89%
ROE
22.40%
34.95%
33.77%
19.62%
10.43%
17.57%
15.76%
12.29%
4.76%
60.84%
ROCE
25.18%
28.97%
27.47%
17.13%
9.73%
17.59%
14.16%
12.10%
15.36%
13.09%
Fixed Asset Turnover
1.36
1.46
1.39
1.01
0.86
1.16
0.89
0.84
0.93
0.99
Receivable days
10.36
7.22
6.90
9.08
9.87
6.36
9.71
11.38
9.23
9.12
Inventory Days
42.47
45.42
45.61
46.59
43.13
30.87
35.51
37.53
36.83
33.36
Payable days
47.52
39.00
44.77
55.33
32.77
24.40
21.80
24.92
25.83
22.46
Cash Conversion Cycle
5.31
13.63
7.74
0.34
20.23
12.83
23.43
23.99
20.23
20.02
Total Debt/Equity
0.14
0.75
0.72
0.82
0.91
1.03
1.41
1.50
1.31
3.08
Interest Cover
8.11
10.39
10.92
5.86
2.23
3.13
2.93
2.35
1.18
2.12

Annual Reports:

FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016
FY 2015

News Update:


  • Varun Beverages’ consolidated net profit jumps 36% in December quarter
    3rd Feb 2026, 15:41 PM

    The total consolidated income of the company increased by 14.80% at Rs 4,433.90 crore for Q4 of 2025

    Read More
  • Varun Beverages gets nod to acquire 30% equity stake in FPEL HR2 Energy
    3rd Feb 2026, 14:45 PM

    The completion of said transaction is expected on or before November 2, 2026

    Read More
  • Varun Beverages gets nod to acquire 100% share capital in Twizza
    22nd Dec 2025, 10:39 AM

    The board of directors of the company at its meeting held on December 21, 2025, has considered and approved the same

    Read More
  • Varun Beverages incorporates wholly-owned subsidiary in Kenya
    20th Nov 2025, 10:22 AM

    The company has incorporated a wholly-owned subsidiary to carry on the business of manufacturing, distribution and selling of Beverages

    Read More
  • Varun Beverages - Quarterly Results
    30th Oct 2025, 00:00 AM

    Read More
  • Varun Beverages reports 20% jump in Q3 consolidated net profit
    29th Oct 2025, 14:51 PM

    The consolidated total income of the company increased by 4.83% at Rs 5,195.77 crore for quarter ended September 30, 2025

    Read More

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