ALFA Finder| Revenue growth | 20.4% YoY for Q2 CY2026. |
|---|---|
| Margins | Gross margins improved 44 bps to 55.0%; EBITDA margins slightly compressed. |
| Demand visibility | Strong, except for a flat April in India due to seasonality. |
| Management confidence | High, citing demographic tailwinds and expanded manufacturing footprint. |
Growth
Q2 revenue reached Rs. 84,512.3 mn (+20.4% YoY); PAT grew 15.1% to Rs. 15,253.6 mn.
Outlook
Interim dividend of Rs. 0.50 approved; Rs. 9,500 mn capitalized capex in H1; entering fermented dairy with CALPIS.
Risks
EBITDA margins declined 76 bps to 27.7% due to Twizza consolidation; high inflationary raw material environment remains.
Last quarter's promises, checked
Delivered
- Guided double-digit growth → delivered 19.8% volume growth (= BEAT)
- Guided Rs. 500-600 cr India Capex → delivered Rs. 950 cr H1 Capex (= BEAT)
- Guided Sting Classic launch response → delivered strong contribution to 19.8% volume (= BEAT)
Partly delivered
- Guided Twizza margin correction → delivered consolidation but margin compression (= PARTIAL)
Missed
- Guided margin sustainability → delivered 76 bps EBITDA margin decline (= MISS)
Investor Presentation filed with NSE, NSE: VBL. Summary written with AI assistance from the document.
Varun Beverages Ltd: key numbers
- Share price
- ₹436.00
- Market cap
- ₹1,47,477 Cr
- Revenue (annual)
- ₹21,685 Cr
- Net profit (annual)
- ₹3,036 Cr
- P/E (TTM)
- 42.5×Sector 29.0×
- Promoter holding
- 59.43%+0.00% QoQ
- FII holding
- 17.53%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Varun Beverages Ltd
All →Varun Beverages Earnings Call Transcript: Key Takeaways
VBL delivered strong 33.2% revenue growth, but high packaging costs pressured gross margins.
Varun Beverages Dividend
Varun Beverages declared a ₹0.50 per share 3rd interim dividend for FY2026. Record date is November 5, 2026, with payment from November 7, 2026.
Varun Beverages Results Update
Varun Beverages reported Q3 CY2026 revenue of ₹6,607.6 Cr (up 33.2% YoY) and PAT of ₹830.6 Cr. Board approved an interim dividend of ₹0.50 per share.
Varun Beverages Investor Presentation: Key Takeaways
Q3 CY26 (Jul-Sep 2026): net revenue Rs 66,076mn (+33.2%), EBITDA Rs 14,267mn (+25.1%, 21.6% margin), PAT Rs 8,306mn (+13.5%). Volumes +28.7%. Growth-led quarter with gross margin pressure.
Varun Beverages Q2 FY27 Results: Net Profit ₹830.6 Cr, Up 13.5% YoY
Varun Beverages Ltd reported revenue from operations of ₹6,816 Cr (+33.3% YoY) and net profit of ₹830.6 Cr (+13.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹830.6 Cr · +13.5% YoY
Varun Beverages Board Meeting Date
Varun Beverages meets on 30 October 2026 to consider quarterly results and a third interim dividend. Trading window stays closed till 1 November 2026.