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Varun Beverages Ltd.

NSE: VBL
BSE: 540180
Industry Group: Beverages
Industry: Other Beverages
405.70-1.0 (-0.25%)
8 Sep, 12:00 AM

Stock Scores

Quality Score

95.5 / 100

Value Score

22.8 / 100

Price Momentum Score

38.6 / 100

QVM Score

50.7 / 100

Key Metrics

Market Cap
1,37,227 Cr
P/E (TTM)
40.53
P/B
6.30
P/S (TTM)
5.69
EV/EBITDA
24.12
CAPE (5Y)
56.73
ROE (TTM)
16.87
ROCE (TTM)
18.47
ROA (TTM)
12.33
Avg 3Y ROE
24.32
Earnings 3Y CAGR
20.08
Sales 3Y CAGR
17.44
Sales 5Y CAGR
25.26
Debt/Equity
0.16
Consensus TP
557.00
Strong Buy %
54.17
Promoter Holding
59.43
Pledged %
0.00

Share Price

Track Varun Beverages Ltd.'s current share price, historical price chart, 52-week high/low, and performance across different time periods.

405.70-1.0 (-0.25%)
-14.42% in past 1 year
1 Week returns: -0.04 %
Low
400.5
High
417.0
1 Month returns: -8.21 %
Low
400.5
High
450.5
1 Year returns: -14.42 %
Low
381.0
High
555.8
3 Year CAGR: 3.39 %
Low
331.3
High
681.1
5 Year CAGR: 26.81 %
Low
107.8
High
681.1
Note: Prices may be delayed by a few minutes. For historical calculations, prices are adjusted for splits, bonus and rights issue. Percentage change shown is absolute irrespective of the period.

Stock Analysis

Fundamental analysis overview of Varun Beverages Ltd. covering key investment insights, growth drivers, risk factors, and potential red flags.

Views
Red Flags
Positive
High and stable operating margin

The company reported strong operating margin of 17.64% for 12-month ended 30 Jun 2026 and operating margin declined marginally by -85 bps from 1 year ago

What is Operating profit margin?

Moderate revenue growth and above median growth of industry

The company delivered moderate revenue growth of 14.46% for 12-month ended 30 Jun 2026 and the growth was 3.48 percentage points higher than median growth of industry

What is Sales growth (1Y)?

Median: 10.98
Value 14.46
-1.1614.46
Low Debt to Equity, not much change from last year

The company has low Debt to Equity of 0.16 as on 30 Jun 2026 and Debt to Equity increased marginally by 0.04 in the last 1 year

What is Debt to Equity?

Consistently pays dividend

The company has not missed dividend payments once in the last 9 financial years

What is Dividend streak?

Company is net cash

The company is net cash i.e., cash and cash equivalents exceed total debt indicating a healthy balance sheet

What is Net Debt ?

Negative
Expensive and at a premium to industry median P/E

PE TTM of 40.63 indicates that the stock is expensive on a standalone basis and is at a 48.12% premium to industry median P/E

What is P/E Ratio?

Median: 27.43
Value 40.63
8.6993.03
Analysts have been downgrading forward EPS estimates

Analyst EPS estimate (consensus) for forward EPS has decreased by -3.22% in the last 3 months, indicating weak earnings momentum

What is Earnings upgrade (3M)?

11.02Apr 2611.13May 2611.28Jun 2611.09Jul 2611.21Aug 2611.24Sep 26
Low dividend yield

The company has a low dividend yield of 0.37%

What is Dividend yield?

Neutral
High ROE but declining trend

The company reported strong ROE of 16.87% for 12-month ended 30 Jun 2026 but ROE declined by -426 bps from 1 year ago

What is ROE (FY)?

Moderate EPS growth and in line with median growth of industry

The company delivered moderate EPS growth of 17.7% for 12-month ended 30 Jun 2026 and the growth was 0.0 percentage points lower than median growth of industry

What is EPS growth (1Y)?

Company's earnings are of moderate quality

Earnings quality score of 63.8 indicates that the company's earnings are of moderate quality. Earnings quality is measured using combination of earnings persistence, probability of manipulation and earnings to cash conversion

What is Earnings quality score?

63.8 / 100

No red flags found!
No significant red flags found in the stock.

Financial Snapshot

See detailed analysis

Multi-year trends for Varun Beverages Ltd. covering revenue, net profit, ROE, and EBITDA for a quick view of financial health over time.

Net Revenue FY
010k20k30k13.2 K CrDec 202216.0 K CrDec 202320.0 K CrDec 202421.7 K CrDec 2025
Profit After Tax FY
01k2k3k4k1.5 K CrDec 20222.1 K CrDec 20232.6 K CrDec 20243.0 K CrDec 2025
ROE FY
0%10%20%30%40%32.6%Dec 202234.2%Dec 202322.0%Dec 202416.8%Dec 2025
EBITDA FY
02k4k6k2.9 K CrDec 20223.8 K CrDec 20234.9 K CrDec 20245.0 K CrDec 2025

Varun Beverages Ltd. Shareholding Pattern

Quarterly breakdown of Varun Beverages Ltd. ownership including promoter, FII, DII, mutual fund, and public holdings as disclosed to NSE/BSE.

Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Total Promoter
68.04
66.40
66.40
66.40
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
60.23
59.82
59.44
59.44
59.44
59.43
Indian Promoter
68.04
66.40
66.40
66.40
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
60.23
59.82
59.44
59.44
59.44
59.43
Foreign Promoter
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Institutions
26.12
26.95
26.71
26.32
26.18
26.56
28.49
28.29
28.24
29.24
29.46
29.89
29.68
29.87
30.91
30.16
29.93
29.86
29.17
32.27
32.18
32.37
33.72
33.87
33.91
34.24
Mutual Funds / UTI
5.80
5.89
5.57
5.46
5.46
5.51
5.86
5.96
5.89
4.38
3.50
2.93
2.71
2.37
2.22
2.31
2.26
2.42
2.63
4.08
5.77
6.46
7.12
8.36
8.30
9.06
FI/Bank/Insurance
0.12
0.13
0.04
0.04
0.08
0.05
0.62
0.73
0.83
0.60
0.66
0.34
0.74
0.56
0.89
0.95
1.52
1.62
1.73
1.85
2.10
2.75
3.66
4.06
4.68
4.70
Govt
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
FII
19.82
20.53
20.75
20.46
20.28
20.73
21.72
21.23
21.03
23.93
25.01
26.45
26.00
26.71
27.55
26.58
25.79
25.32
24.19
25.27
22.98
21.86
21.93
20.31
19.51
19.03
Other Institutions
0.39
0.39
0.36
0.36
0.36
0.27
0.30
0.36
0.49
0.33
0.29
0.15
0.22
0.23
0.25
0.32
0.38
0.50
0.61
1.07
1.32
1.31
1.00
1.14
1.41
1.45
Non-Institution
5.84
6.65
6.89
7.28
7.42
7.62
6.62
6.82
6.87
6.86
6.64
6.22
6.42
6.51
6.00
6.75
7.16
7.47
8.18
7.52
7.59
7.80
6.84
6.70
6.66
6.33
Bodies Corporate
1.03
1.66
2.06
2.35
2.32
2.22
1.78
1.72
1.52
1.34
1.20
1.13
1.45
1.28
1.04
1.30
1.40
1.54
1.52
1.24
1.01
0.79
0.76
0.85
0.79
0.75
Others (incl. Retail)
No. of shareholders
4.81
45,606
4.99
50,752
4.83
50,401
4.93
47,744
5.10
55,491
5.40
1,08,116
4.84
1,14,671
5.10
1,37,079
5.35
1,36,011
5.52
1,72,608
5.44
2,34,254
5.09
2,43,339
4.97
2,59,408
5.23
3,51,665
4.96
3,73,377
5.45
4,37,637
5.76
4,87,080
5.93
5,06,439
6.66
6,95,383
6.28
7,39,066
6.58
8,70,340
7.01
9,64,710
6.08
8,99,715
5.85
8,69,859
5.87
8,74,541
5.58
8,10,162

Holdings and Presence

Indices and prominent investors with a stake in this stock.

Index Presence
#IndexWeightRank
1Nifty FMCG5.98%6 / 15
2Nifty Next 502.39%16 / 50
3Nifty100 Quality 302.18%25 / 30
4Nifty Consumption1.74%24 / 30
5Nifty 100 Equal Weight0.86%97 / 100
6Nifty 1000.44%64 / 100
7Nifty 5000.3%70 / 499
8Nifty Total Market0.29%70 / 749
9NIFTY Large Midcap 2500.22%155 / 250

Bulk, Block and Insider Trades

Recent bulk deals, block deals, and insider trading activity in Varun Beverages Ltd. shares as reported to NSE and BSE.

NameMonthTransactionHolding % pre transactionAverage priceQty.Transaction value
Ravindra Dhariwal Trustee of Varun Beverages Limited – Bonus Issue Fractional Shares Trust
Directors Immediate Relative
August-2021
Market Sale (Disposal)
6th Aug 2021
0.00 %₹ 780.5416.86 k₹ 1.32 cr
VARUN JAIPURIA
Promoter & Director
May-2021
Market Sale (Disposal)
21st May 2021
17.19 %₹ 995.056.38 lac₹ 63.51 cr
VARUN JAIPURIA
Promoter & Director
May-2021
Market Sale (Disposal)
21st May 2021
17.55 %₹ 995.0010.50 lac₹ 104.47 cr
RAVI KANT JAIPURIA
Promoter
February-2021
Inter-se Transfer (Acquisition)
26th Feb 2021
0.00 %₹ 1,042.955.39 cr₹ 5619.60 cr
RAVI KANT JAIPURIA AND SONS HUF
Promoter
February-2021
Inter-se Transfer (Disposal)
26th Feb 2021
18.66 %₹ 1,042.955.39 cr₹ 5619.60 cr

Corporate Actions

History of Varun Beverages Ltd. dividends, bonus issues, stock splits, rights issues, and other corporate events.

  1. Dividend₹ 0.50/share
    Record date: 1st Aug 2026Ex-date: 31st Jul 2026
    Announced on: 28th Jul 2026
  2. Dividend₹ 0.50/share
    Record date: 1st May 2026Ex-date: 30th Apr 2026
    Announced on: 27th Apr 2026
  3. Dividend₹ 0.50/share
    Record date: 8th Apr 2026Ex-date: 8th Apr 2026
    Announced on: 3rd Feb 2026
  4. Dividend₹ 0.50/share
    Record date: 2nd Aug 2025Ex-date: 1st Aug 2025
    Announced on: 29th Jul 2025
  5. Dividend₹ 0.50/share
    Record date: 7th May 2025Ex-date: 7th May 2025
    Announced on: 30th Apr 2025

Company Profile

Overview of Varun Beverages Ltd. covering business description, industry classification, key management, financial ratios, and listed exchange details.

Varun Beverages Limited is an India-based company, which is a franchisee of PepsiCo. It produces and distributes a range of carbonated soft drinks (CSDs), as well as non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. PepsiCo CSD brands produced...
Key personnel
Mr. Pankaj Madan
Chief Financial Officer
Mr. Ravi Batra
Chief Risk Officer, Group Company Secretary, Compliance Officer
Mr. Ravi Kant JaipuriaD
Non-Executive Chairman of the Board, Promoter
Mr. Varun JaipuriaD
Executive Vice Chairman of the Board, Whole-Time Director, Promoter
Mr. Rajinder Jeet Singh BaggaD
Whole-Time Director
Mr. Raj Pal GandhiD
Whole-Time Director
Dr. Naresh Kumar TrehanD
Non-Executive Non-Independent Director
Mrs. Rashmi DhariwalD
Non-Executive Independent Director
View all
Incorporated on
16 Jun 1995
Last Annual
31 Dec 2025
Last Interim
30 Jun 2026
No. of Employees
10,654
IPO date
08 Nov 2016
Free Float
1,33,31,33,123
Phone no.
+911141706720
Address
Plot No. 31, Institutional Area, Sector - 44, GURGAON, 122002, India

Frequently Asked Questions

What is the current share price of Varun Beverages Ltd.?
The current share price of Varun Beverages Ltd. is ₹ 405.70 as of 8 Sep 2026.
What is the market capitalisation of Varun Beverages Ltd.?
The market capitalisation of Varun Beverages Ltd. stands at ₹ 1,37,227.00 Cr.
What is the PE ratio of Varun Beverages Ltd.?
The Price-to-Earnings (PE) ratio of Varun Beverages Ltd. is 40.53 as of the latest trailing twelve months data.
What is the ROE and ROCE of Varun Beverages Ltd.?
Varun Beverages Ltd. has a Return on Equity (ROE) of 16.87% and a Return on Capital Employed (ROCE) of 18.47% as per the latest financial reports.
What is the 52-week high and low of Varun Beverages Ltd.?
The 52-week high of Varun Beverages Ltd. is - and the 52-week low is -.
What is the dividend yield of Varun Beverages Ltd.?
The dividend yield of Varun Beverages Ltd. is 0.37% based on the current market price.
What is the FII and DII holding in Varun Beverages Ltd.?
Foreign Institutional Investors (FII) hold 19.03%, Domestic Institutional Investors (DII) hold 13.76% and retail/public investors hold 5.58% of Varun Beverages Ltd. shares.
What sector does Varun Beverages Ltd. belong to?
Varun Beverages Ltd. operates in the Fast Moving Consumer Goods sector. 87.5% of analysts have a Buy or Strong Buy rating on Varun Beverages Ltd. with a consensus target price of ₹ 557.00, implying 37.29% upside from current levels.
What is the beta of Varun Beverages Ltd.?
The beta of Varun Beverages Ltd. is 1.06, indicating its price volatility relative to the broader market. Over the past 1 year, Varun Beverages Ltd. has delivered an absolute return of -18.73%.
What is the RSI of Varun Beverages Ltd.?
The 14-day Relative Strength Index (RSI) of Varun Beverages Ltd. is 33.98, placing it approaching oversold territory. An RSI above 70 is considered overbought and below 30 is considered oversold.