Varun Beverages Ltd (VBL)
₹392.00
Mkt cap
₹1.33L Cr
P/E ratio
38.40
P/B
6.77
Div yield
0.38%
ROE
16.20%
ROCE
19.70%
EPS (TTM)
₹10.21
Book value
₹58
52W range
381–556
Sector
Fast Moving Consumer Goods
Price history
Previous close
Varun Beverages Ltd has been associated with PepsiCo since the 1990s and is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world. The company produces and distributes a wide range of carbonated soft drinks, non-carbonated drinks and packaged water sold under trademarks owned by PepsiCo. PepsiCo brands produced and sold by the company include Pepsi, Seven-up, Mirinda Orange, Mountain Dew, Tropicana Juices and many more. [1]
NSE VBLBSE 540180
Health check
Constructive
ValuationCheap
ProfitabilityStrong
GrowthHigh
TechnicalsBearish
52-week range
−29.47% from high₹392
₹381+2.89% from low₹556
Current
₹392.00
Prev close
₹414.80
Day
−5.50%
Price performance
1D
−5.50%
1W
−0.78%
1M
−8.84%
3M
−13.15%
6M
−25.06%
1Y
−15.80%
YTD
−20.62%
Financials
Revenue, profit & margin
P/E ratio
38.4×
VBL is 47% below the sector median of 72.9×
VBL38.4×
Sector median72.9×
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,871 | 2,668 | 4,317 | 7,197 | 4,805 | 3,689 | 5,567 | 7,017 | 4,961 | 4,204 | 6,574 | 8,545 | 6,608 | |
| Expenses | 2,989 | 2,249 | 3,329 | 5,206 | 3,654 | 3,110 | 4,304 | 5,020 | 3,822 | 3,568 | 5,049 | 6,217 | 5,183 | |
| Operating Profit | 882 | 418 | 989 | 1,991 | 1,151 | 579 | 1,263 | 1,998 | 1,139 | 637 | 1,525 | 2,328 | 1,424 | |
| OPM % | 23% | 16% | 23% | 28% | 24% | 16% | 23% | 28% | 23% | 15% | 23% | 27% | 22% | |
| Other Income | 19 | 9 | 8 | 44 | 24 | 45 | 28 | 77 | 148 | 99 | 44 | 105 | 120 | |
| Interest | 62 | 74 | 94 | 129 | 119 | 109 | 41 | 37 | 47 | 47 | 49 | 59 | 72 | |
| Depreciation | 171 | 166 | 188 | 242 | 257 | 261 | 273 | 306 | 312 | 330 | 357 | 413 | 420 | |
| Profit before tax | 667 | 188 | 716 | 1,663 | 800 | 254 | 978 | 1,732 | 927 | 359 | 1,163 | 1,961 | 1,053 | |
| Tax % | 23% | 24% | 23% | 24% | 21% | 23% | 25% | 23% | 21% | 28% | 24% | 23% | 21% | |
| Net Profit | 514 | 144 | 548 | 1,262 | 629 | 196 | 731 | 1,325 | 732 | 260 | 879 | 1,510 | 831 | |
| EPS in Rs | 1.54 | 0.41 | 1.65 | 3.86 | 1.91 | 0.55 | 2.15 | 3.89 | 2.15 | 0.74 | 2.58 | 4.45 | 2.45 | |
| Raw PDF |
Earnings
Results dates & reactionsNo upcoming results date on calendar.
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move +2.05% · closed higher next day 5 of last 6
| Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 | |
|---|---|---|---|---|---|---|---|
| Broadcast | 30 Apr '25◦ | 29 Jul '25◦ | 29 Oct '25 | 3 Feb '26◦ | 27 Apr '26 | 28 Jul '26◦ | 30 Oct '26 |
| Earnings day | +0.40% | +1.94% | +9.09% | −1.37% | +5.79% | +4.00% | −5.50% |
| +1 day | +3.14% | +2.04% | +6.85% | −3.10% | +5.73% | +4.97% | — |
| +5 days | −5.00% | −2.53% | +3.90% | +1.29% | +4.33% | +1.63% | — |
| +15 days | −6.43% | +1.00% | −0.58% | +1.05% | +4.96% | +0.43% | — |
| +30 days | −10.04% | −8.27% | +5.36% | −10.30% | +7.30% | −5.35% | — |
| Filing | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL |
Corporate actions
Last 6 months| Kind | Value | Ex-date | Record |
|---|---|---|---|
| dividend Interim Dividend - Re 0.50 Per Share | — | 5 Nov '26 | 5 Nov '26 |
| dividend Interim Dividend - Re 0.50 Per Share | — | 30 Apr '26 | 1 May '26 |
Shareholding
as of Sep 202659.43%Promoter
Promoters59.43%
FIIs17.53%1.50
DIIs16.29%1.13
Public6.71%0.38
Government0.05%
Ownership trend
Peers
5 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| Varun Beverages | ₹392.00 | 38.44 | 1,32,898 | 0.38% | 831 | +13.81% | 6,608 | +33.20% | 19.71% |
| Valencia Nutrit. | ₹59.00 | 107.39 | 117 | 0.00% | 0 | −81.22% | 4 | −39.54% | 2.56% |
| Orient Beverages | ₹154.00 | 7.83 | 33 | 0.00% | 2 | +24.12% | 53 | +14.12% | 12.12% |
| ANS Industries | ₹29.33 | 18.59 | 27 | 0.00% | −1 | −461.11% | 0 | — | −11.42% |
| Transglobe Foods | ₹456.95 | — | 7 | 0.00% | 0 | −20.00% | 0 | — | 5.88% |
| Median: 2 Co. | ₹225.50 | 72.91 | 66,508 | 0.19% | 416 | −33.70% | 3,306 | −3.17% | 11.13% |
Filings
Annual reports13
Concall transcripts94
PPTOct 2026RECOct 2026TranscriptAug 2026PPTAug 2026RECAug 2026TranscriptMay 2026PPTMay 2026RECMay 2026TranscriptFeb 2026PPTFeb 2026RECFeb 2026TranscriptNov 2025PPTNov 2025RECNov 2025TranscriptAug 2025PPTAug 2025RECAug 2025TranscriptMay 2025PPTMay 2025RECMay 2025TranscriptFeb 2025PPTFeb 2025RECFeb 2025TranscriptOct 2024
Credit ratings6
Announcements5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 30 Oct - Audio recording of investors' call held October 30, 2026 after Q3 and 9M FY2026 results.Corporate Action-Board approves Dividend 30 Oct - Board approved Q2 and nine-month FY2026 results, plus 3rd interim dividend of ₹0.50 per share; record date November 5, 2026.Corporate Action - Record Date 30 OctAnnouncement under Regulation 30 (LODR)-Press Release / Media Release 30 Oct - Q3 CY2026 revenue rose 33.2% to Rs. 66,075.6 mn; interim dividend of Rs. 0.50 declared.Announcement under Regulation 30 (LODR)-Investor Presentation 30 Oct - Presentation on Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Nine Months ended 30 September 2026