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NSEConsumer Defensive

Varun Beverages Limited (VBL)

NSE · Consumer Defensive · Beverages - Non-Alcoholic

₹415.45+1.23%
Last close · 2026-09-17

Latest quarter · ended 2026-06-30

Revenue
₹8,451 cr
Revenue YoY
+20.4%
Net profit
₹1,521 cr
Profit YoY
+15.5%
EPS
₹4.50
EPS estimate
₹4.35
Net margin
18.0%

EPS came in at 4.50 against a street estimate of 4.35 — a beat of 3.4%.

Key statistics

Market cap
₹1.41 lakh cr
P/E
41.6
Forward P/E
58.8
P/B
6.47
Book value
₹64.37
EPS (TTM)
₹10.00
Dividend yield
0.37%
52-week high
₹555.18
52-week low
₹379.74
50-day MA
₹441.37
200-day MA
₹467.40
Beta
0.28

Analyst view

with an average price target of ₹549.76.

From the latest earnings call · 2026-07-28

CONFIDENT VBL delivered 20.4% revenue growth and 19.8% volume growth in Q2 FY26, driven by strong India seasonality (20%+ post-March) and international expansion. EBITDA up 17.2%. Company extended PepsiCo agreement to 2049, entered dairy via Asahi, and acquired South Africa operations. Q2 FY26 India seasonality highly weather-dependent; El Niño dampened April. Africa expansion accelerating via acquisitions and organic growth. Analysts probed INR 10 strategy, pack mix, and alcohol entry. Management reframed INR 10 as unprofitable distraction, emphasized 20%+ growth at profitable points, and clarified alcohol exploration is group-level (not VBL). Weather and competitive dynamics were secondary concerns. 2026-07-28…

Full summary in the app.

Shareholding

Promoters
60.59%
Institutions
24.04%

Recent filings & reports

DocumentDate
Q1 FY27 earnings call
VARUN BEVERAGES LIMITED – Q2 & H1 CY2026 EARNINGS SUMMARY HEADLINE NUMBERS • Q2 2026 Net Revenue: Rs. 84,512.3 million, up 20.4% year-on-year • H1 2
2026-08-04
Investor presentation
VARUN BEVERAGES LIMITED – Q2 & H1 CY2026 RESULTS SUMMARY HEADLINE NUMBERS • Consolidated sales volumes: 466.7 million cases in Q2 CY2026, up 19.8% Y
2026-07-28
Q4 FY26 earnings call
VARUN BEVERAGES LIMITED – Q1 CY2026 EARNINGS CALL SUMMARY HEADLINE NUMBERS • Consolidated revenue increased 18.1% YoY to Rs. 65,742 million (Q1 CY20
2026-05-04
Investor presentation · Q4 FY26
VARUN BEVERAGES LIMITED – Q1 CY2026 RESULTS SUMMARY HEADLINE NUMBERS • Revenue: Rs. 65,742 million in Q1 CY2026, up 18.1% YoY from Rs. 55,669 millio
2026-04-27
Quarterly results · Q4 FY26
VARUN BEVERAGES LIMITED – Q1 CY2026 RESULTS SUMMARY --- HEADLINE NUMBERS • Revenue: Rs. 65,742 million in Q1 CY2026, up 18.1% YoY from Rs. 55,669 m
2026-04-27
Annual report FY2025
VARUN BEVERAGES LIMITED – COMPANY DOCUMENT SUMMARY HEADLINE NUMBERS • Final Dividend: ₹0.50 per equity share (face value ₹2) for FY 2025 • IEPF Tran
2026-03-09
Q3 FY26 earnings call
VARUN BEVERAGES LIMITED – Q4 & CY2025 EARNINGS SUMMARY HEADLINE NUMBERS • Consolidated volumes grew 7.9% to 1,213.1 million cases in CY2025 (vs. 1,1
2026-02-10
Quarterly results · Q3 FY26
VARUN BEVERAGES LIMITED - DOCUMENT SUMMARY HEADLINE NUMBERS • Full Year 2025 Revenue from Operations: ₹222,255.84 million (consolidated), up from ₹2
2026-02-03

Readable in the app.

Corporate actions

ActionDetailDate
Dividend₹0.50 / share
ex-date Jul 31, 2026 · record Aug 1, 2026
2026-07-31
Dividend₹0.50 / share
ex-date Apr 30, 2026 · record May 1, 2026
2026-04-30
Dividend₹0.50 / share
ex-date Apr 8, 2026
2026-04-08

Deals & corporate news

AnnouncementDate
Subsidiary completes acquisition of dairy beverages and packaged water business
VBL Industries' Kenyan subsidiary (VBL Kenya) has successfully completed its acquisition of value-added dairy beverages, juices, and packaged drinking water business from Devyani Food Indust
2026-08-01
2nd interim dividend of Rs. 0.50 per equity share approved
The company's Board of Directors approved a second interim dividend of Rs. 0.50 per share for the financial year 2026. With approximately 338.25 crore shares outstanding, this means total di
2026-07-28
Subsidiary acquires dairy beverages and packaged drinking water business
VBL Industries' Kenyan subsidiary has agreed to acquire the dairy beverages, juices, and packaged drinking water business from Devyani Food Industries (Kenya) Limited. KEY POINTS: - This is
2026-07-06
Acquired 29.99% equity stake in FPEL HR2 Energy Private Limited
Varun Beverages Limited has acquired 29.99% of Equity Share Capital of FPEL HR2 Energy Private Limited.
2026-04-15
Subsidiary acquires 100% stake in Twizza Proprietary Limited
The Beverage Company Proprietary Limited, a South African subsidiary of the parent company, has completed the acquisition of 100% of the shares in Twizza Proprietary Limited. This means the
2026-03-18

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Data updated 2026-09-18.