	2012 Dec 31	2013 Dec 31	2014 Dec 31	R 2015 Dec 31	R 2016 Dec 31	2017 Dec 31	2018 Dec 31	2019 Dec 31	2020 Dec 31	2021 Dec 31	2022 Dec 31	2023 Dec 31	2024 Dec 31	2025 Dec 31	TTM Mar 31

Period length: Source:	12M PR	12M PR	12M PR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M IR
Total Revenue	1,800	2,115	2,502	3,394	3,861	4,003	5,105	7,130	6,450	8,823	13,173	16,043	20,008	21,685	22,693
Cost of Operating Revenue	1,268	1,506	1,728	2,216	2,279	2,383	2,908	4,068	3,634	4,988	7,445	8,782	10,651	11,749	11,433
Gross Profit	532	609	775	1,178	1,582	1,620	2,197	3,061	2,816	3,835	5,728	7,260	9,357	9,937	11,260
Gross Margin	29.5	28.8	31.0	34.7	41.0	40.5	43.0	42.9	43.7	43.5	43.5	45.3	46.8	45.8	49.6
Total Operating Expenses	1,701	2,005	2,323	3,033	3,365	3,495	4,405	6,088	5,767	7,674	10,886	12,972	16,104	17,852	18,679
Operating Profit	99	110	180	361	496	509	701	1,041	684	1,149	2,287	3,070	3,903	3,833	4,014
Operating Margin	5.5	5.2	7.2	10.6	12.9	12.7	13.7	14.6	10.6	13.0	17.4	19.1	19.5	17.7	17.7
Financing Income/(Expense) - Net	-117	-170	-185	-162	-423	-218	-267	-386	-281	-131	-169	-301	-470	171	-177
Profit before Taxes	21	-46	4	191	79	291	434	696	363	1,007	2,024	2,739	3,433	4,010	4,195
Income Taxes	-4	-5	25	79	31	77	134	224	5	261	474	638	799	948	986
Profit after Tax	25	-40	-20	113	42	210	293	469	329	694	1,497	2,056	2,595	3,036	3,182
PAT Margin	1.4	-1.9	-0.8	3.3	1.1	5.2	5.7	6.6	5.1	7.9	11.4	12.8	13.0	14.0	14.0
EPS - Basic - ex Extraordinary Items	0.08	-0.13	-0.07	0.50	0.17	0.68	0.95	1.50	1.01	2.14	4.61	6.33	7.95	8.98	9.41
EPS - Diluted - ex Extraordinary Items	0.08	-0.13	-0.07	0.50	0.15	0.68	0.95	1.50	1.01	2.14	4.61	6.33	7.95	8.98	9.40
EBIT	99	110	180	361	496	509	701	1,041	684	1,149	2,287	3,070	3,903	3,833	4,014
EBITDA	235	295	391	678	826	855	1,086	1,530	1,212	1,681	2,857	3,751	4,851	5,050	5,314
EBITDA Margin	13.0	14.0	15.6	20.0	21.4	21.4	21.3	21.5	18.8	19.0	21.7	23.4	24.2	23.3	23.4

Balance Sheet

Abridged

Understanding Balance Sheet

Varun Beverages Ltd. balance sheet covering assets, liabilities, equity and borrowings across annual and quarterly periods.

Consolidated

Standalone

Annual

Interim

	2012 Dec 31	2013 Dec 31	2014 Dec 31	R 2015 Dec 31	R 2016 Dec 31	2017 Dec 31	2018 Dec 31	2019 Dec 31	2020 Dec 31	2021 Dec 31	2022 Dec 31	2023 Dec 31	2024 Dec 31	2025 Dec 31

Source:	PR	PR	PR	AR	AR	AR	AR	AR	AR	AR	AR	AR	AR	AR
Total Current Assets	594	559	880	933	984	1,080	1,269	1,844	1,800	2,546	3,404	4,236	7,864	7,896
Long-Term Investments	-	-	-	0	0	0	0	0	0	1	0	3	6	11
Property Plant & Equipment - Net	1,873	2,243	2,238	3,220	3,451	3,687	4,213	5,956	5,927	6,797	6,964	9,760	13,152	15,477
Total Non-Current Assets	1,970	2,446	2,436	3,740	3,979	4,353	4,891	6,717	6,692	7,609	8,214	10,952	15,280	17,669
Total Assets	2,555	2,989	3,295	4,529	4,831	5,284	6,031	8,388	8,458	9,582	11,618	15,187	23,144	25,565
Total Current Liabilities	899	966	1,204	1,685	1,728	1,593	1,741	2,220	2,435	3,020	3,969	4,153	4,524	4,074
Long Term Debt	1,363	1,695	1,630	3,022	1,218	1,687	1,980	2,355	2,004	1,845	1,892	3,387	1,198	940
Total Non-Current Liabilities	1,484	1,808	1,748	3,079	1,423	1,922	2,284	2,809	2,435	2,365	2,434	3,949	1,880	1,750
Total Liabilities	2,383	2,774	2,952	4,764	3,151	3,516	4,025	5,029	4,870	5,385	6,403	8,103	6,404	5,824
Total Shareholders' Equity	172	215	343	-217	1,694	1,769	1,999	3,328	3,524	4,080	5,102	6,936	16,610	19,579
Minority Interest	0	0	-	-19	-13	-1	8	31	65	117	113	148	130	162
Total Equity	172	215	343	-235	1,681	1,768	2,006	3,359	3,589	4,197	5,215	7,085	16,740	19,741
Total Liabilities & Equity	2,555	2,989	3,295	4,529	4,831	5,284	6,031	8,388	8,458	9,582	11,618	15,187	23,144	25,565

Cash Flow

Abridged

Understanding Cash Flow Statement

Varun Beverages Ltd. cash flow statement covering operating, investing and financing activities across annual and quarterly periods.

Consolidated

Standalone

Annual

Interim

	2012 Dec 31	2013 Dec 31	2014 Dec 31	C 2015 Dec 31	C 2016 Dec 31	C 2017 Dec 31	2018 Dec 31	C 2019 Dec 31	2020 Dec 31	2021 Dec 31	2022 Dec 31	2023 Dec 31	2024 Dec 31	2025 Dec 31

Period length: Source:	12M PR	12M PR	12M PR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR	12M AR
Operating CF bef Changes in Working Cap	154	153	214	462	552	666	867	1,094	854	1,334	2,227	2,817	3,614	3,968
Working Capital - Increase/(Decrease)	20	-12	44	-42	64	-197	-50	-85	-111	-269	-585	-673	-669	-571
Net CF from Operating Activities	174	141	259	421	616	469	817	1,009	743	1,066	1,642	2,143	2,944	3,397
Capital Expenditures - Net	421	421	212	265	780	516	809	733	536	815	1,750	3,194	3,740	2,712
Net CF from Investing Activities	-512	-578	-514	-306	-1,056	-751	-879	-2,324	-480	-1,024	-1,728	-3,312	-4,345	-2,781
Dividends Paid - Cash - Total	-	-	-	-	-	46	46	69	72	108	162	227	325	507
Stock - Issuance/(Retirement) - Net	-	-	200	250	701	4	1	900	-	-	-	4	7,512	9
Debt - LT & ST - Issuance/(Retirement) - Total	341	395	84	-345	-232	365	155	605	-224	110	316	1,477	-3,707	-609
Net Cash Flow from Financing Activities	341	435	244	-95	449	314	104	1,411	-296	1	154	1,254	3,418	-1,108
Free Cash Flow to Equity	94	115	131	-189	-397	318	163	881	-16	360	208	426	-4,504	75
Free Operating CF net dividend	-252	-295	39	151	-177	-109	-88	186	111	122	-322	-1,348	-1,160	150
Free Operating CF	-252	-295	39	151	-177	-64	-42	255	184	231	-159	-1,121	-835	658

Business Segment Analysis

FY End:

Dec 25

Varun Beverages Ltd. business segment breakdown covering revenue, operating income and assets across key divisions for the selected financial year.

Capex

Manufacturing and sale of beverages (100.0%)₹ 2,739.10 Cr

Revenue / Sales

Manufacturing and sale of beverages (100.0%)₹ 21,685.38 Cr

Assets

Manufacturing and sale of beverages (100.0%)₹ 25,565.16 Cr

Operating Income

Manufacturing and sale of beverages (100.0%)₹ 3,833.44 Cr

Regional Segment Analysis

FY End:

Dec 20

Varun Beverages Ltd. geographic revenue split showing domestic and international market performance across revenue and income for the selected financial year.

Revenue / Sales

Within India (73.7%)₹ 4,828.35 CrOutside India (26.3%)₹ 1,727.44 Cr

Historical Segment Analysis

Track how Varun Beverages Ltd. segment contributions have evolved over multiple financial years to see which divisions are growing, shrinking or gaining strategic importance.

Capex

Sales

Assets

Operating Income

Business

Regional

Business

	2021 Dec 31	2022 Dec 31	2023 Dec 31	2024 Dec 31	2025 Dec 31

Manufacturing and sale of beverages	835	1,801	3,264	3,779	2,739

Frequently Asked Questions

What is the revenue of Varun Beverages Ltd.?

The latest trailing twelve month revenue of Varun Beverages Ltd. is ₹ 22,692.60 Cr, reflecting a 1-year growth of 6.75% and a 3-year CAGR of 16.81%. Annual and quarterly revenue trends are available in the Income Statement section.

What is the net profit of Varun Beverages Ltd.?

The latest trailing twelve month net profit (PAT) of Varun Beverages Ltd. is ₹ 3,182.36 Cr, with a 3-year earnings CAGR of 22.25%. Detailed profit history across annual and quarterly periods is in the Income Statement section.

What is the EBITDA of Varun Beverages Ltd.?

The trailing twelve month EBITDA of Varun Beverages Ltd. is approximately ₹ 4,013.57 Cr (based on an operating margin of 17.69%). EBITDA reflects core operating profitability before interest, taxes, depreciation and amortisation.

What is the EPS of Varun Beverages Ltd.?

The trailing twelve month Earnings Per Share (EPS) of Varun Beverages Ltd. is 9.40. EPS trends across annual and quarterly periods are visible in the Income Statement section.

What is the debt level of Varun Beverages Ltd.?

The debt-to-equity ratio of Varun Beverages Ltd. stands at 0.13. The interest coverage ratio is 22.68x, reflecting the company's ability to service debt from operating earnings. The full breakdown of total borrowings is in the Balance Sheet section.

What is the book value per share of Varun Beverages Ltd.?

The estimated book value per share of Varun Beverages Ltd. is 59.04 (derived from a P/B ratio of 8.82 and market price of ₹ 520.85), reflecting the net asset value attributable to each share. See the Balance Sheet section for a full breakdown.

What is the cash flow from operations of Varun Beverages Ltd.?

The trailing twelve month operating cash flow of Varun Beverages Ltd. is ₹ 3,396.62 Cr. Annual and quarterly cash flow data is available in the Cash Flow section of the Statements tab.

Does Varun Beverages Ltd. report consolidated or standalone financials?

Varun Beverages Ltd. reports consolidated financials. You can toggle between consolidated and standalone views using the switch at the top of each statement section.