| Quarterly Financials | Dec 2015 | Mar 2016 | Jun 2016 | Sept 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sept 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 |
Revenue  | 390 | 869 | 1,660 | 912 | 437 | 893 | 1,639 | 966 | 530 | 1,104 | 2,060 | 1,167 | 799 | 1,361 | 2,815 | 1,744 | 1,256 | 1,702 | 1,643 | 1,806 | 1,337 | 2,247 | 2,474 | 2,435 | 1,735 | 2,836 | 4,965 | 3,187 | 2,224 | 3,903 | 5,653 | 3,889 | 2,677 | 4,326 | 7,241 | 4,829 | 3,733 | 5,595 | 7,095 | 5,045 | 4,304 |
| Expenses | 388 | 750 | 1,195 | 723 | 408 | 742 | 1,153 | 778 | 505 | 922 | 1,484 | 955 | 738 | 1,141 | 2,023 | 1,414 | 1,105 | 1,472 | 1,263 | 1,422 | 1,159 | 1,859 | 1,879 | 1,904 | 1,527 | 2,297 | 3,704 | 2,478 | 1,907 | 3,095 | 4,101 | 2,989 | 2,249 | 3,329 | 5,206 | 3,654 | 3,110 | 4,304 | 5,020 | 3,751 | 3,568 |
| EBITDA | 2 | 119 | 465 | 189 | 29 | 151 | 486 | 188 | 25 | 182 | 576 | 212 | 61 | 221 | 793 | 330 | 152 | 230 | 380 | 384 | 178 | 387 | 595 | 532 | 208 | 540 | 1,261 | 710 | 317 | 808 | 1,552 | 900 | 428 | 997 | 2,035 | 1,175 | 624 | 1,292 | 2,075 | 1,294 | 736 |
| Operating Profit % | -1 % | 13 % | 28 % | 19 % | 6 % | 16 % | 29 % | 19 % | 4 % | 16 % | 28 % | 18 % | 6 % | 16 % | 28 % | 19 % | 9 % | 12 % | 23 % | 21 % | 13 % | 17 % | 23 % | 21 % | 12 % | 19 % | 25 % | 22 % | 14 % | 21 % | 27 % | 23 % | 16 % | 23 % | 28 % | 24 % | 16 % | 23 % | 28 % | 23 % | 15 % |
| Depreciation | 89 | 77 | 77 | 78 | 80 | 80 | 91 | 88 | 88 | 91 | 100 | 100 | 94 | 99 | 125 | 127 | 137 | 135 | 124 | 135 | 135 | 135 | 129 | 139 | 129 | 131 | 153 | 153 | 180 | 172 | 172 | 171 | 166 | 188 | 243 | 257 | 261 | 273 | 306 | 308 | 330 |
| Interest | 50 | 109 | 111 | 111 | 101 | 57 | 51 | 52 | 53 | 60 | 52 | 47 | 54 | 59 | 85 | 87 | 79 | 87 | 74 | 58 | 62 | 58 | 47 | 43 | 37 | 47 | 46 | 45 | 48 | 63 | 69 | 63 | 74 | 94 | 129 | 119 | 109 | 41 | 37 | 45 | 47 |
| Profit Before Tax | -129 | -62 | 285 | 9 | -152 | 14 | 344 | 49 | -116 | 31 | 424 | 65 | -87 | 63 | 582 | 116 | -64 | 8 | 182 | 192 | -19 | 195 | 420 | 350 | 42 | 361 | 1,062 | 511 | 90 | 573 | 1,311 | 667 | 188 | 716 | 1,663 | 800 | 254 | 978 | 1,732 | 941 | 359 |
| Tax | -30 | -6 | 82 | -4 | -41 | 7 | 98 | 15 | -44 | 11 | 117 | 21 | -16 | 23 | 177 | 35 | -10 | -52 | 39 | 30 | -12 | 58 | 101 | 93 | 9 | 90 | 260 | 116 | 8 | 135 | 306 | 153 | 44 | 168 | 401 | 171 | 59 | 247 | 407 | 196 | 99 |
| Net Profit | -99 | -56 | 202 | 13 | -112 | 7 | 246 | 34 | -72 | 20 | 307 | 44 | -71 | 40 | 405 | 81 | -54 | 60 | 143 | 162 | -7 | 137 | 319 | 258 | 33 | 271 | 802 | 396 | 82 | 439 | 1,005 | 514 | 144 | 548 | 1,262 | 629 | 196 | 731 | 1,326 | 745 | 260 |
| EPS in ₹ | -7.38 | -3.87 | 14.97 | 0.76 | -6.81 | 0.25 | 13.46 | 1.80 | -3.99 | 1.02 | 16.62 | 2.31 | -3.92 | 1.48 | 14.85 | 2.91 | -2.05 | 1.90 | 4.88 | 3.53 | -0.68 | 4.48 | 7.12 | 5.55 | 0.38 | 5.87 | 12.12 | 5.87 | 1.15 | 6.61 | 7.65 | 3.86 | 1.02 | 4.14 | 9.64 | 1.91 | 0.56 | 2.15 | 3.89 | 2.19 | 0.74 |
Varun Beverages
Varun Beverages
389.30
-12.15
(-3.03%)
Market Cap
1,31,660.82 Cr
PE Ratio
44.34
Volume
89,68,617.00
Day High - Low
400.90 - 388.00
52W High-Low
568.50 - 381.00
Key Fundamentals
Market Cap
1,31,660.82 Cr
EPS
8.98
PE Ratio
44.34
PB Ratio
6.93
Book Value
57.89
EBITDA
5,401.70
Dividend Yield
0.37 %
Industry
Beverages Sector
Non Alcoholic Beverages Return on Equity
15.51
Debt to Equity
0.15
Analyst Rating and Forecast
- By Refinitiv from24 analysts
Actual
Company News
View All News
Varun Beverages subsidiary acquires 100% stake in Twizza Proprietary Limited for ZAR 2,053 million (₹11,398 million), making it step-down subsidiary from March 18, 2026.
Varun Beverages announces acquisition of 100% ownership stake in Crickley Dairy for ₹1.31 billion, marking a significant expansion move in the dairy segment.
BofA Securities Maintains Buy on Varun Beverages
Mar 16, 2026
Mar 16, 2026BofA Securities maintains Buy rating on Varun Beverages with ₹550 target price, citing favorable risk-reward profile with teens earnings growth and valuations below historical levels.
View more
Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
389.30 | #1 1,31,660.82 | #2 44.34 | #1 22,037.70 | #3 9.48 | #1 3,062 | #1 32.92 | 34.61 | |
47.00 | 80.98 | 83.87 | 9.10 | #1 468.75 | 1 | - | 33.45 | |
196.00 | 42.37 | #1 9.77 | 173.40 | 10.59 | 3 | #1 425.00 | 35.28 | |
445.70 | 6.47 | -184.86 | 0.20 | - | 0 | 0.00 | 49.02 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
9.48 %
Net Income Growth
16.24 %
Cash Flow Change
3.79 %
ROE
-1.46 %
ROCE
-6.76 %
EBITDA Margin (Avg.)
2.08 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 4,437 | 4,831 | 5,284 | 6,031 | 8,388 | 8,458 | 9,582 | 11,618 | 15,187 | 23,144 | 25,565 |
| Fixed Assets | 3,496 | 3,716 | 3,981 | 4,387 | 6,479 | 6,409 | 6,311 | 6,932 | 8,409 | 13,402 | 16,759 |
| Current Assets | 730 | 853 | 969 | 1,141 | 1,672 | 1,800 | 2,546 | 3,404 | 4,236 | 7,864 | 7,889 |
| Capital Work in Progress | 38 | 96 | 145 | 352 | 64 | 67 | 497 | 607 | 1,922 | 1,167 | 271 |
| Investments | 0 | 7 | 8 | 11 | 0 | 0 | 0 | 0 | 21 | 60 | 174 |
| Other Assets | 903 | 1,013 | 1,149 | 1,281 | 1,846 | 1,983 | 2,775 | 4,079 | 4,835 | 8,516 | 8,361 |
| Total Equity & Liabilities | 4,437 | 4,831 | 5,284 | 6,031 | 8,388 | 8,458 | 9,582 | 11,618 | 15,187 | 23,144 | 25,565 |
| Current Liabilities | 1,354 | 1,728 | 1,589 | 1,741 | 2,220 | 2,435 | 3,020 | 3,969 | 4,153 | 4,524 | 4,074 |
| Non Current Liabilities | 2,408 | 1,423 | 1,927 | 2,284 | 2,809 | 2,435 | 2,365 | 2,434 | 3,949 | 1,880 | 1,750 |
| Total Equity | 674 | 1,681 | 1,768 | 2,006 | 3,359 | 3,589 | 4,197 | 5,216 | 7,085 | 16,740 | 19,741 |
| Reserve & Surplus | 91 | 1,511 | 1,587 | 1,816 | 3,040 | 3,235 | 3,647 | 4,453 | 6,287 | 15,934 | 18,902 |
| Share Capital | 584 | 182 | 183 | 183 | 289 | 289 | 433 | 650 | 650 | 676 | 676 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 19 | 8 | 33 | -22 | 95 | -33 | 46 | 4 | 88 | 2,024 | -482 |
| Investing Activities | -300 | -1,048 | -746 | -937 | -2,320 | -472 | -1,008 | -1,769 | -3,288 | -4,311 | -2,725 |
| Operating Activities | 555 | 826 | 620 | 1,000 | 1,308 | 1,012 | 1,231 | 1,790 | 2,391 | 3,381 | 3,509 |
| Financing Activities | -236 | 230 | 159 | -84 | 1,107 | -574 | -178 | -18 | 985 | 2,954 | -1,267 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Nov 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 |
| Promoter | 66.40 % | 65.82 % | 64.89 % | 64.89 % | 64.89 % | 63.90 % | 63.90 % | 63.90 % | 63.90 % | 63.62 % | 63.10 % | 63.09 % | 62.91 % | 62.66 % | 62.66 % | 60.20 % | 60.20 % | 60.24 % | 59.82 % | 59.44 % | 59.44 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.01 % | 0.01 % | 26.58 % | 25.78 % | 25.32 % | 24.18 % | 25.24 % | 25.26 % | 22.98 % | 21.85 % | 21.93 % | 20.31 % |
| DIIs | 5.54 % | 5.56 % | 6.48 % | 6.70 % | 6.72 % | 4.97 % | 4.16 % | 3.44 % | 3.68 % | 2.94 % | 3.36 % | 3.59 % | 4.15 % | 4.55 % | 4.98 % | 6.49 % | 7.02 % | 9.21 % | 10.52 % | 11.79 % | 13.56 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 3.65 % | 4.02 % | 3.57 % | 3.80 % | 4.02 % | 4.19 % | 4.09 % | 4.09 % | 4.22 % | 4.52 % | 4.27 % | 4.71 % | 5.00 % | 5.16 % | 5.87 % | 5.85 % | 5.52 % | 5.81 % | 6.27 % | 5.42 % | 5.20 % |
| Others | 24.41 % | 24.61 % | 25.06 % | 24.61 % | 24.37 % | 26.94 % | 27.85 % | 28.56 % | 28.19 % | 28.92 % | 29.26 % | 2.04 % | 2.15 % | 2.31 % | 2.31 % | 2.21 % | 2.00 % | 1.77 % | 1.52 % | 1.42 % | 1.50 % |
| No of Share Holders | 56,213 | 1,08,875 | 1,15,450 | 1,37,939 | 1,37,208 | 1,73,935 | 2,35,804 | 2,44,975 | 2,61,286 | 3,53,742 | 3,75,534 | 4,40,278 | 4,89,887 | 5,09,607 | 6,98,759 | 7,72,415 | 7,42,488 | 8,73,915 | 9,68,419 | 9,02,881 | 8,72,933 |
Dividend History
| Annual Cash Flows | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3.5 | 2.5 | 1 | 1.5 | 0.00 |
| Dividend Yield (%) | 6.7 | 4.87 | 5.31 | 2.8 | 1.99 | 1.26 | 0.45 | 0.19 | 0.39 | 0.00 |
Announcements
Closure of Trading Window5 days ago
5 days agoDisclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - UpdateMar 18, 2026
Mar 18, 2026Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsMar 17, 2026
Mar 17, 2026Announcement under Regulation 30 (LODR)-AcquisitionMar 11, 2026
Mar 11, 2026Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Mar 11, 2026
Mar 11, 2026Announcement under Regulation 30 (LODR)-Newspaper PublicationMar 10, 2026
Mar 10, 2026Business Responsibility and Sustainability Reporting (BRSR)Mar 09, 2026
Mar 09, 2026Notice Of 31St Annual General Meeting And Annual Report Of The Company For The Financial Year Ended December 31 2025Mar 09, 2026
Mar 09, 2026Reg. 34 (1) Annual Report.Mar 09, 2026
Mar 09, 2026Announcement under Regulation 30 (LODR)-Newspaper PublicationMar 03, 2026
Mar 03, 2026Compliances-Reg.24(A)-Annual Secretarial ComplianceFeb 20, 2026
Feb 20, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationFeb 16, 2026
Feb 16, 2026Announcement under Regulation 30 (LODR)-Earnings Call TranscriptFeb 10, 2026
Feb 10, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationFeb 06, 2026
Feb 06, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeFeb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSFeb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-Change in DirectorateFeb 03, 2026
Feb 03, 2026Corporate Action-Board approves DividendFeb 03, 2026
Feb 03, 2026Outcome Of The Board Meeting & Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Feb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-AcquisitionFeb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseFeb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-Investor PresentationFeb 03, 2026
Feb 03, 2026Board Meeting Outcome for Outcome Of Board MeetingFeb 03, 2026
Feb 03, 2026Outcome Of The Board Meeting & Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Feb 03, 2026
Feb 03, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJan 29, 2026
Jan 29, 2026Board Meeting Intimation for Audited Financial Results Of The CompanyJan 28, 2026
Jan 28, 2026Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Jan 23, 2026
Jan 23, 2026Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Jan 14, 2026
Jan 14, 2026Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Dec 29, 2025
Dec 29, 2025Closure of Trading WindowDec 26, 2025
Dec 26, 2025General UpdateDec 21, 2025
Dec 21, 2025Announcement under Regulation 30 (LODR)-AcquisitionDec 21, 2025
Dec 21, 2025Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - ESG RatingDec 10, 2025
Dec 10, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportDec 01, 2025
Dec 01, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotDec 01, 2025
Dec 01, 2025Announcement under Regulation 30 (LODR)-Updates on AcquisitionNov 19, 2025
Nov 19, 2025General Update - Intimation Of Change In Logo Of The Company
Nov 18, 2025
Nov 18, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 31, 2025
Oct 31, 2025Clarification With Respect To Increase In VolumeOct 30, 2025
Oct 30, 2025Clarification sought from Varun Beverages LtdOct 30, 2025
Oct 30, 2025Postal Ballot NoticeOct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeOct 29, 2025
Oct 29, 2025Outcome Of Board MeetingOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of AssociationOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Investor PresentationOct 29, 2025
Oct 29, 2025Outcome Of Board MeetingOct 29, 2025
Oct 29, 2025Board Meeting Outcome for Outcome Of Board MeetingOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 24, 2025
Oct 24, 2025Mutual Fund Holdings
Technical Indicators
RSI(14)
Neutral 34.61
ATR(14)
Less Volatile 13.90
STOCH(9,6)
Oversold 17.67
STOCH RSI(14)
Neutral 50.28
MACD(12,26)
Bearish -1.89
ADX(14)
Strong Trend 29.00
UO(9)
Bearish 32.60
ROC(12)
Downtrend And Accelerating -10.81
WillR(14)
Oversold -86.97
About Varun Beverages
Varun Beverages Ltd is the second largest franchisee of PepsiCo beverages outside the US. It produces and distributes carbonated soft drinks and non-carbonated beverages, including packaged drinking water, under PepsiCo trademarks. The company operates in 27 states and 7 union territories in India, as well as in Nepal, Sri Lanka,...more
Listing Date
08 Nov, 2016(9 Years,
50 days)
Chairperson NameRAVI KANT JAIPURIA
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