Nifty

:

24056.00

Sensex

:

77100.47

34.35 (0.14%)
109.25 (0.14%)

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Nifty
Sensex

:
:

24056.00
77100.47

34.35 (0.14%)
109.25 (0.14%)

Varun Beverages Ltd.

Consumer Food

Rating :

64/99

BSE: 540180 | NSE: VBL

Watchlist

NSE BSE

507.65

25-Jun-2026

Open
High
Low
Previous Close

508.75
514.6
505.45
506.70

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

4139647
2106649682
555.8
381

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

1,71,685.35
53.95
2

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

1,71,710.98
0.30%
8.40

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

59.00
61.47
64.06

P:BV (Average)

8 Years
5 Years
3 Years

11.61
14.47
15.66

EV:EBITDA (Average)

8 Years
5 Years
3 Years

28.76
34.68
38.81

Earnings Forecasts:

(Updated: 27-06-2026)

Description 2026 2027 2028 2029
Adj EPS 14.62 10.3 12.01 13.54
P/E Ratio 34.72 49.29 42.27 37.49
Revenue 33.6 25448.4 29012.8 32266.5
EBITDA 34104 5914.68 6761.15 7572.46
Net Income 8583.54 3483.28 4067.86 4604.19
ROA 3433.03 19.02 20.05 20.65
P/B Ratio -0.05 7.72 6.77 5.91
ROE 4.96 16.77 17.27 17.1
FCFF 16.91 3144.57 3422.37 3509.72
FCFF Yield 3999.45 1.81 1.96 2.02
Net Debt 2.3 -1532.86 -4018.26 -6423.7
BVPS -9452.7 65.72 74.98 85.9

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 4,500.55 4,052.53 11.06% 2,135.29 2,014.03 6.02% 3,063.98 3,086.84 -0.74% 5,305.02 5,801.59 -8.56%
Expenses 3,328.20 3,042.21 9.40% 1,809.91 1,690.90 7.04% 2,277.19 2,285.88 -0.38% 3,663.54 4,063.00 -9.83%
EBITDA 1,172.35 1,010.32 16.04% 325.38 323.13 0.70% 786.80 800.96 -1.77% 1,641.48 1,738.59 -5.59%
EBIDTM 26.05% 24.93% 15.24% 16.04% 25.68% 25.95% 30.94% 29.97%
Other Income 74.32 59.80 24.28% 214.43 153.90 39.33% 149.69 100.17 49.44% 90.01 67.25 33.84%
Interest 4.26 7.80 -45.38% 12.82 63.89 -79.93% 7.94 98.64 -91.95% 3.69 103.17 -96.42%
Depreciation 198.98 165.01 20.59% 185.28 154.33 20.05% 172.03 157.31 9.36% 180.11 166.81 7.97%
PBT 1,043.44 897.31 16.29% 341.71 258.80 32.04% 756.52 645.19 17.26% 1,547.70 1,535.86 0.77%
Tax 255.53 219.25 16.55% 80.69 50.18 60.80% 179.12 152.85 17.19% 387.54 385.73 0.47%
PAT 787.91 678.06 16.20% 261.02 208.62 25.12% 577.40 492.34 17.28% 1,160.16 1,150.14 0.87%
PATM 17.51% 16.73% 12.22% 10.36% 18.84% 15.95% 21.87% 19.82%
EPS 2.33 2.00 16.50% 0.77 0.62 24.19% 1.71 1.46 17.12% 3.43 3.40 0.88%

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

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 15,004.84 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 0.33% 1.45% 13.58% 19.22% 60.65% 35.26% -13.16% 45.40% 26.11% 2.79% Cost Of Goods Sold 6,936.14 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 8,068.70 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 53.77% 53.59% 53.97% 52.58% 50.20% 52.56% 54.56% 53.49% 54.06% 54.15% 54.16% Total Expenditure 11,078.84 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 3,926.01 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 26.16% 25.86% 25.70% 23.63% 20.57% 17.90% 17.64% 21.46% 22.33% 23.60% 23.57% Other Income 528.45 513.93 353.94 146.14 143.76 57.64 71.99 98.01 91.64 47.39 50.92 Interest 28.71 33.22 353.60 244.45 156.12 156.69 249.95 281.61 195.70 192.45 389.49 Depreciation 736.40 702.42 617.91 518.33 483.13 399.83 412.82 387.20 295.55 273.64 249.46 PBT 3,689.37 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 902.88 866.60 749.58 593.04 414.30 192.03 -23.75 185.74 130.60 68.59 24.71 Tax Rate 24.47% 24.46% 24.42% 25.04% 24.59% 28.18% -11.72% 29.28% 28.21% 22.55% 21.64% PAT 2,786.49 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 2,786.49 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 18.57% 18.39% 16.17% 14.05% 11.99% 7.42% 4.64% 7.99% 8.61% 7.69% 3.00% PAT Growth 10.17% 15.35% 30.71% 39.75% 159.49% 116.18% -49.52% 34.96% 41.07% 163.24% EPS 8.24 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 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

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 index plus flexi growth fund

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government of singapore

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sbi arbitrage opportunities fund

Annual Reports:

News Update:

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

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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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