Varun Beverages Limited
Varun Beverages Limited, together with its subsidiaries, manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana. The company offers carbonated soft drinks under the Pepsi, Pepsi Zero, Mountain Dew, Mirinda, and Seven-Up brands, as well as the Refreshhh, Coo-ee, and Jive brands; fruit pulp and juice-based drinks under the Slice, Tropicana, Tropicana Delight, and Seven-Up Nimbooz brands; club sodas under the Evervess and Duke's brands; and energy drinks under the Sting, Adrenaline Rush, and Rockstar brands. It also provides sports drinks under the Gatorade brand; carbonated juice-based drinks under the Seven-Up Nimbooz Masala Soda brand; ice-tea under the Lipton brand; packaged drinking water under the Aquafina and Aquavess brands, as well as the Refreshhh and Aquaclear brands; and snacks under the FritoLay, Cheetos, Doritos, Simba, and Kurkure brands. In addition, the company offers energy drinks under the Reboost Energy brand; and value-added dairy-based beverages under the Cream Bell brand. Varun Beverages Limited was incorporated in 1995 and is based in Gurugram, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockStrengths1
- Large-cap with βΉ1.7L Cr market capitalisation
Concerns0
Rule-based from financial data. Not advice.
Monthly Returns
Year-to-Date ROI
Historical Volatility
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | β | β | β | β | β | β | β | β |
| Mar 2024 | βΉ14.35 K Cr | β | βΉ2.32 K Cr | β | β | β | 13.6% | 30.7% |
| Mar 2023 | βΉ12.63 K Cr | β | βΉ1.77 K Cr | β | β | β | 19.2% | 39.8% |
| Mar 2022 | βΉ10.60 K Cr | β | βΉ1.27 K Cr | β | β | β | 60.6% | 159.7% |
| Mar 2021 | βΉ6.60 K Cr | β | βΉ489.00 Cr | β | β | β | 35.3% | 116.4% |
| Mar 2020 | βΉ4.88 K Cr | β | βΉ226.00 Cr | β | β | β | -13.2% | -49.7% |
| Mar 2019 | βΉ5.62 K Cr | β | βΉ449.00 Cr | β | β | β | 45.4% | 35.2% |
| Mar 2018 | βΉ3.86 K Cr | β | βΉ332.00 Cr | β | β | β | 26.1% | 40.7% |
| Mar 2017 | βΉ3.06 K Cr | β | βΉ236.00 Cr | β | β | β | 2.8% | 162.2% |
| Mar 2016 | βΉ2.98 K Cr | β | βΉ90.00 Cr | β | β | β | 4.1% | -40.8% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Dec 2025 |
|---|---|
| Revenue / Net Sales | 14,557 |
| Total Expenses | 10,793 |
| EBIT / Operating Profit | 3,764 |
| OPM % | 26 |
| Other Income | 514 |
| Finance Costs | 32 |
| Depreciation & Amortisation | 702 |
| Profit Before Tax | 3,543 |
| Tax % | 24 |
| Net Profit / PAT | 2,677 |
| EPS (βΉ) | 7.91 |
| Dividend Payout % | 6 |
Peer Comparison
Consumer Staples sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Varun Beverages Limitedthis co. | βΉ1.69 L Cr | βΉ14.56 K Cr | 64.60 | 9.38 | 0.00 | 1.4% |
| Hindustan Unilever Ltd. | βΉ5.61 L Cr | βΉ61.47 K Cr | 53.40 | 11.49 | 37.10 | 1.7% |
| ITC Ltd | βΉ4.19 L Cr | βΉ69.32 K Cr | 21.10 | 6.11 | 15.06 | 10.7% |
| Nestle India Ltd. | βΉ2.55 L Cr | βΉ20.20 K Cr | 85.10 | 55.65 | β | -17.2% |
| Britannia Industries Ltd. | βΉ1.43 L Cr | βΉ17.30 K Cr | 62.00 | 43.51 | 43.95 | 6.9% |
| Godrej Consumer Products Ltd. | βΉ1.27 L Cr | βΉ8.91 K Cr | 97.10 | 15.72 | 83.11 | 5.9% |
| TATA CONSUMER PRODUCTS LIMITED | βΉ1.18 L Cr | βΉ12.80 K Cr | 66.00 | 6.83 | 73.17 | 19.5% |
| Industry Average | β | βΉ9.28 K Cr | 82.79 | 12.12 | 49.12 | 9.9% |