Varun Beverages Ltd

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.

Varun Beverages Other Announcement

Varun Beverages Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026, in compliance with SEBI regulatory requirements.

Varun Beverages Acquisition Worth ₹4.1 Cr

Varun Beverages approved a Rs. 4.10 Crore investment for 26% equity in Jager Renewables. The solar SPV will supply captive power to VBL's Uttar Pradesh facilities.

Value

₹4.10 Cr

Execution

On or before October 6, 2027

Varun Beverages Capacity Expansion: ₹4.1 Cr Investment

Varun Beverages approved investing up to Rs. 4.10 Crore for a 26% stake in Jager Renewables SPV. The solar power will serve its UP facilities for captive consumption.

Value

₹4.10 Cr

Varun Beverages Legal & Regulatory

Varun Beverages has disclosed a dispute regarding the termination of its South African subsidiary's acquisition agreement due to non-fulfillment of conditions precedent.

Varun Beverages Legal & Regulatory

Varun Beverages updated that the ZAR 238 million (₹131.47 Crore) acquisition of Crickley Dairy is under arbitration at AFSA due to unmet conditions.

Value

₹131.5 Cr

Varun Beverages Merger & Restructuring Worth ₹131.5 Cr

Varun Beverages referred the termination of its proposed Crickley Dairy acquisition to arbitration after conditions were not met by the long-stop date.

Value

₹131.5 Cr

Varun Beverages Management Change

Varun Beverages Limited announced the resignation of Mr. Manmohan Rupal Paul from his position as Chief Operating Officer, effective September 24, 2026.

Varun Beverages Capacity Expansion

VBL's Zimbabwe subsidiary signed an exclusive Mondelez confectionery distribution deal effective October 2026. No new capex is planned, leveraging the existing distribution network.

Varun Beverages Business Update

Varun Beverages' Kenyan subsidiary launched two new brands, BOLT UP (energy drink) and XTREME FIZZ (soft drink), to expand its market presence in Africa.

Varun Beverages Employee Stock Options

Varun Beverages allotted 29,750 equity shares to employees upon exercise of vested ESOP 2016 options. Paid-up capital increased to 338,24,94,644 shares.

Varun Beverages Merger & Restructuring

Varun Beverages Limited has incorporated a new wholly-owned subsidiary in India named KIVA Spirits and Company Limited. This follows the board's prior approval on August 25, 2026.

Varun Beverages Merger & Restructuring Worth ₹29.3 Cr

Varun Beverages will incorporate a joint venture in Tunisia to produce and distribute beverages. The company will hold a 75% stake for a cash consideration.

Value

₹29.30 Cr

Varun Beverages Merger & Restructuring Worth ₹9 Cr

Varun Beverages approved incorporating a wholly-owned subsidiary in India and a joint venture in Tunisia. The India subsidiary's proposed paid-up capital is ₹9 Crore.

Value

₹9.00 Cr

Varun Beverages Merger & Restructuring

Varun Beverages has completed the merger of its step-down subsidiary, Twizza Proprietary Limited, into its subsidiary, The Beverage Company Proprietary Limited. Consequently, Twizza has ceased to be a step-down subsidiary.

Varun Beverages Other Announcement

Varun Beverages Limited received an ESG rating of 63 for FY 2026 from NSE Sustainability Ratings & Analytics Limited, up from 62 in FY 2025.

Varun Beverages Merger & Restructuring Worth ₹0.01 Cr

Varun Beverages is incorporating a new subsidiary, Varun Beverages Holding (Zimbabwe) (Private) Limited, to act as an investment holding entity in Zimbabwe.

Value

₹0.01 Cr

Varun Beverages Merger & Restructuring

Varun Beverages' subsidiary incorporated a joint venture, Varun Beverages Holding (Zimbabwe) (Private) Limited, in Zimbabwe. The company holds a 70% stake in the new entity.

Varun Beverages Merger & Restructuring Worth ₹304 Cr

Varun Beverages' subsidiary, VBL Industries (Kenya), has completed the acquisition of Devyani Food Industries (Kenya)'s dairy, juice, and water business for USD 32 Million.

Value

₹304.0 Cr

Varun Beverages Earnings Call Transcript: Key Takeaways

Varun Beverages reported strong Q2 CY26 results with 20.4% revenue growth, driven by volume surges in India and South Africa despite unseasonal April rains.

Varun Beverages Results Update

Varun Beverages reported a 15.1% YoY increase in Q2 CY2026 PAT to Rs. 1,525.4 Crore. The company also announced the acquisition of DFIKL (Kenya) for Rs. 305 Crore.

Value

₹305.0 Cr

Varun Beverages Investor Presentation: Key Takeaways

VBL reported strong Q2 CY2026 performance with 20.4% net revenue growth and 17.2% EBITDA growth. Key developments include extending the PepsiCo India agreement to 2049 and acquiring DFIKL in Kenya.

Varun Beverages Q1 FY27 Results: Net Profit ₹1,525 Cr, Up 15.1% YoY

Varun Beverages Ltd reported revenue from operations of ₹8,651 Cr (+20.8% YoY) and net profit of ₹1,525 Cr (+15.1% YoY) for Q1 FY27.

Key figure

Net profit ₹1,525 Cr · +15.1% YoY

Varun Beverages Board Meeting Date

Varun Beverages has scheduled a board meeting for July 28, 2026, to consider quarterly financial results and the declaration of a second interim dividend.

Varun Beverages Management Change

Varun Beverages appointed Mr. Sarabeet Singh Gujral as Chief Human Resources Officer and Mr. Srinivasan Sourirajan as Chief Manufacturing Officer. Both appointments are effective July 20, 2026.