Nifty
:
23689.60
Sensex
:
75398.72
277.00 (1.18%)
789.74 (1.06%)
Nifty
Sensex
:
:
23689.60
75398.72
277.00 (1.18%)
789.74 (1.06%)

Varun Beverages Ltd.

Consumer Food

Rating :
64/99

BSE: 540180 | NSE: VBL

NSE BSE
505.15
14-May-2026
  • Open
  • High
  • Low
  • Previous Close
  •  491.4
  •  506.9
  •  489.45
  •  489.15
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  4345986
  •  2177689643.7
  •  534.7
  •  381

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,70,991.98
  • 53.73
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,71,017.61
  • 0.30%
  • 8.36

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 59.44%
  • 0.79%
  • 5.22%
  • FII
  • DII
  • Others
  • 19.51%
  • 13.02%
  • 2.02%

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
  • 59.36
  • 62.05
  • 64.25

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 11.58
  • 14.45
  • 16.06

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 28.55
  • 34.53
  • 38.95

Earnings Forecasts:

(Updated: 09-05-2026)
Description
2024
2025
2026
2027
Adj EPS
8.98
10.39
12.16
13.68
P/E Ratio
56.25
48.62
41.54
36.93
Revenue
20834.6
25570.7
29044.1
32333
EBITDA
5049.37
5933.81
6764.14
7583.32
Net Income
3036.49
3472.73
4050.23
4607.77
ROA
12.47
19.13
20.28
21.03
P/B Ratio
8.73
7.70
6.77
5.89
ROE
16.78
16.77
17.29
17.2
FCFF
657.52
3197.91
3351.19
3509.72
FCFF Yield
0.38
1.85
1.94
2.03
Net Debt
509.69
-1300.5
-3014.7
-4292.6
BVPS
57.89
65.59
74.64
85.78

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Var%
Dec 25
Dec 24
Var%
Sep 25
Sep 24
Var%
Jun 25
Jun 24
Var%
Net Sales
6,721.54
5,680.03
18.34%
4,334.80
3,817.62
13.55%
5,047.74
4,932.06
2.35%
7,163.02
7,333.67
-2.33%
Expenses
5,192.61
4,416.06
17.58%
3,695.54
3,237.64
14.14%
3,900.37
3,780.94
3.16%
5,164.25
5,342.45
-3.34%
EBITDA
1,528.93
1,263.96
20.96%
639.26
579.97
10.22%
1,147.38
1,151.12
-0.32%
1,998.77
1,991.22
0.38%
EBIDTM
22.75%
22.25%
14.75%
15.19%
22.73%
23.34%
27.90%
27.15%
Other Income
43.53
28.06
55.13%
99.11
44.64
122.02%
148.03
24.25
510.43%
77.16
44.03
75.24%
Interest
48.52
41.12
18.00%
46.69
109.00
-57.17%
45.21
118.53
-61.86%
36.55
129.16
-71.70%
Depreciation
356.79
272.51
30.93%
330.20
260.78
26.62%
307.60
256.61
19.87%
306.15
242.48
26.26%
PBT
1,167.14
978.38
19.29%
361.47
254.82
41.85%
942.59
800.23
17.79%
1,733.23
1,663.61
4.18%
Tax
284.48
246.45
15.43%
98.88
58.49
69.05%
195.72
171.31
14.25%
406.56
401.24
1.33%
PAT
882.66
731.94
20.59%
262.59
196.33
33.75%
746.87
628.92
18.75%
1,326.68
1,262.37
5.09%
PATM
13.13%
12.89%
6.06%
5.14%
14.80%
12.75%
18.52%
17.21%
EPS
2.58
2.15
20.00%
0.74
0.55
34.55%
2.19
1.91
14.66%
3.89
3.86
0.78%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Dec 25
Dec 24
Dec 23
Dec 22
Dec 21
Dec 20
Dec 19
Dec 18
Dec 17
Dec 16
Net Sales
23,267.10
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
6.91%
8.39%
24.72%
21.78%
49.30%
36.79%
-9.53%
39.65%
27.52%
3.69%
 
Cost Of Goods Sold
10,132.02
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
13,135.08
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
56.45%
55.20%
55.49%
53.84%
52.47%
54.27%
57.15%
54.84%
56.04%
54.79%
54.99%
Total Expenditure
17,952.77
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
5,314.34
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
22.84%
23.41%
23.71%
22.65%
21.30%
19.01%
18.83%
20.51%
19.92%
20.94%
20.67%
Other Income
367.83
352.35
121.27
79.36
38.85
68.26
36.97
42.53
21.82
12.51
35.73
Interest
176.97
195.98
482.86
291.60
204.09
207.31
293.74
324.31
222.80
214.59
434.74
Depreciation
1,300.74
1,216.46
947.39
680.91
617.19
531.26
528.70
488.63
385.07
346.64
322.21
PBT
4,204.43
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
985.64
947.61
798.80
637.55
473.52
260.56
5.23
224.07
133.94
76.89
31.30
Tax Rate
23.44%
23.60%
23.26%
23.27%
23.40%
25.88%
1.44%
32.38%
31.09%
26.55%
40.67%
PAT
3,218.80
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
3,191.76
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
-27.04
-25.55
-39.65
-45.89
-52.68
-52.00
-28.28
-3.23
-7.02
-3.90
-5.66
PAT Margin
13.83%
14.00%
12.97%
12.82%
11.37%
7.87%
5.10%
6.58%
5.74%
5.25%
1.10%
PAT Growth
14.16%
17.03%
26.20%
37.30%
115.75%
110.96%
-29.85%
60.15%
39.34%
395.89%
 
EPS
9.52
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
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
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
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

Annual Reports:

FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016

News Update:


  • Varun Beverages - Quarterly Results
    28th Apr 2026, 00:00 AM

    Read More
  • Varun Beverages’ arm acquires 100% stake in Twizza Proprietary
    19th Mar 2026, 14:17 PM

    Twizza Proprietary has become step down subsidiary of the company with effect from March 18, 2026

    Read More
  • Varun Beverages gets nod to acquire additional 23% stake in Jager Renewables Two
    11th Mar 2026, 17:46 PM

    The company shall hold 49% of Equity Share Capital of Jager Renewables Two post this transaction

    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.