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Notes / Company

Varun Beverages Ltd.

VBL BSE 540180 ISIN INE200M01039 Consumer Food

Fundamentals

Market cap
₹1.72 lakh cr
P/E
53.95×
ROE
15.51%
Debt / equity
0.10
Div yield
0.30%
52-week range
381.00 — 555.80
Research on Tijori Finance

Company snapshot

Varun Beverages Ltd.

FMCG
₹1.68 L cr
P/E 52.69×

Latest quarter · Mar 2026

Sales₹6,722 cr
Net profit₹883 cr
Op. margin+22.8%
EPS₹2.58

Strength & growth

Debt / equity0.10×
Current ratio1.94×
Sales CAGR+32.2%
EPS CAGR+37.1%
Financials via Tijori — a research aid, not investment advice.VBL on Tijori

The timeline — 7 notes on Varun Beverages Ltd.

July 2026

  1. 28 Jul 26 · 3:22 PM IST Brief
    Brief · Concalls · Mega cap

    VBL locks in PepsiCo until 2049, Q2 revenue up 20%

    Varun Beverages posted 20.4% revenue growth to ₹84,512 mn and secured a long-term PepsiCo bottling extension removing sole-bottler restrictions. Twizza boosted international volumes but compressed margins.

  2. 28 Jul 26 · 12:25 PM IST Brief
    Brief · Earnings · Mega cap

    VBL Q2 revenue climbs 20% to ₹8,451 cr, profit ₹1,525 cr

    Domestic volumes up 14.4% while international surges 38.4% on Twizza acquisition. Board declares ₹0.50 interim dividend.

  3. 28 Jul 26 · 12:23 PM IST Brief
    Brief · Earnings · Mega cap

    Varun Beverages locks in PepsiCo franchise until 2049, posts 20% revenue growth

    A **20.4%** revenue jump to **₹8,451 cr** and **19.8%** volume growth in Q2 CY2026, with the PepsiCo franchise extended to **2049** and the SPV restriction removed. International volumes surged **38.4%** on the Twizza acquisition.

  4. 28 Jul 26 · 12:12 PM IST Brief
    Brief · Earnings · Mega cap

    Varun Beverages rides summer boom to 24% revenue growth

    Strong season pushes revenue to ₹8,851 crore; net profit rises 15% to ₹1,525 crore. International volumes hit 35%, dividend held at ₹0.50 per share.

  5. 06 Jul 26 · 4:21 PM IST Brief
    Brief · M&A · Mega cap

    Varun Beverages enters Kenya with $32M promoter-group acquisition

    VBL's Kenyan arm buys a dairy, juice and water business from Devyani Food Industries, including a 52-acre factory. It also plans to launch its own CSD range in East Africa.

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