Varun Beverages Ltd (VARB)

Currency in INR
442.30
-9.05(-2.01%)
Closed·
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Fair Value
Day's Range
439.85451.00
52 wk Range
381.00555.80
Key Statistics
Bid/Ask
439.80 / 440.00
Prev. Close
451.35
Open
451
Day's Range
439.85-451
52 wk Range
381-555.8
Volume
7.99M
Average Volume (3m)
6.47M
1-Year Change
-13.5964%
Fair Value
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Fair Value Upside
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VARB Scorecardpro icon
Company’s Health
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Fair Value
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Fair Price
Upside
Price Target
550.78
Upside
+24.53%
Members' Sentiments
Bearish
Bullish
ProTips
Impressive gross profit margins

Varun Beverages Ltd News & Analysis

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Technical Analysis

Summary
Strong Sell
Sell
Neutral
Buy
Strong Buy
Strong Sell
Technical Indicators
Strong Sell
Moving Averages
Strong Sell

Analyst Ratings

22 Buy
4 Hold
0 Sell
Ratings:
26 analysts
Overall Consensus
Strong Buy

Analysts 12-Month Price Target:

Average 550.78
(+24.53% Upside)
Firm
ArticlePositionPrice TargetUpside / DownsideFrom Price TargetActionDate
ICICI Securities
Hold450.00+1.74%500.00MaintainJul 30, 2026
JPMorgan
Buy530.00+19.83%565.00MaintainJul 29, 2026
CLSA
Buy629.00+42.21%654.00MaintainJul 29, 2026
Kotak
Buy540.00+22.09%505.00MaintainApr 28, 2026
Goldman Sachs
Buy600.00+35.65%535.00MaintainApr 28, 2026

Varun Beverages Ltd Earnings Call Summary for Q2/2026

  • Varun Beverages Q2 revenue rose 20.4% YoY to INR 84.5B with volume up 19.8%, but shares fell 7.76% to $428.45 amid investor concerns.
  • EBITDA grew 17.2% to INR 23.4B with 27.7% margin (down 76bps); PAT increased 15.1% despite higher finance costs and Twizza acquisition dilution.
  • PepsiCo bottling agreement extended to April 2049; low/no-sugar products now 73% of volume as company shifts portfolio mix strategically.
  • Management expects sustained 20%+ growth with July trends strong; prioritizing profitable INR 20 packs over unprofitable INR 10 segment.
  • International volume surged 38.4% led by Africa expansion; value-added dairy and hydration growing 30-40%, outpacing core carbonated beverages.
Last Updated: 2026-07-28, 05:58 a/m
Read Full Transcript

Earnings

Latest Release
Jul 28, 2026
EPS / Forecast
4.50 / 4.35
Revenue / Forecast
84.51B / 86.3B
EPS Revisions
Last 90 days

Dividends

Payout Ratio
Payout ratio (TTM)
Earnings retained
EPS 10.01%
Dividend Yield
0.33%
Industry Median 0.61%
Annualized payout
1.50
Paid unevenly
5-Years Growth
+46.51%
Growth Streak

VARB Income Statement

Compare VARB to Peers and Sector

Metrics to compare
VARB
Peers
Sector
Relationship
P/E Ratio
44.2x25.6x11.5x
PEG Ratio
2.570.470.03
Price/Book
6.9x6.0x1.5x
Price / LTM Sales
6.2x3.7x0.9x
Upside (Analyst Target)
25.7%22.3%23.8%
Fair Value Upside
Unlock7.3%14.0%Unlock

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.

Industry
Beverages
Employees
10654
Market
India

Ownership

Ownership Overview

Type
Common Stock Held% of Shares OutstandingMarket Value
Mutual Funds & ETFs
695.34M20.56%307.55B
Other Institutional Investors
1.04B30.78%460.42B
Public Companies & Retail Investors
1.65B48.67%728.09B
Total
3.38B100.00%1.5T

Top Holders

Holder
% of holding
Shares Held
Date Reported
Value (In 1,000s)
Jaipuria Group25.28%855,041,916378,185,039
Norges Bank Investment Management1.93%65,226,89828,849,857

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FAQ

What Is the Varun Beverages (VARB) Stock Price Today?

The Varun Beverages stock price today is 442.30 INR.

What Stock Exchange Does Varun Beverages Trade On?

Varun Beverages is listed and trades on the India National Stock Exchange.

What Is the Stock Symbol for Varun Beverages?

The stock symbol for Varun Beverages is "VARB."

Does Varun Beverages Pay Dividends? What’s The Current Dividend Yield?

The Varun Beverages dividend yield is 0.33%.

What Is the Varun Beverages Market Cap?

As of today, Varun Beverages market cap is 1.50T INR.

What Is Varun Beverages's Earnings Per Share (TTM)?

The Varun Beverages EPS (TTM) is 10.01.

When Is the Next Varun Beverages Earnings Date?

Varun Beverages will release its next earnings report on Nov 14, 2026.

From a Technical Analysis Perspective, Is VARB a Buy or Sell?

Based on moving averages and other technical indicators, the daily buy/sell signal is Strong Sell.

How Many Times Has Varun Beverages Stock Split?

Varun Beverages has split 5 times.

How Many Employees Does Varun Beverages Have?

Varun Beverages has 10654 employees.

What is the current trading status of Varun Beverages (VARB)?

As of Aug 01, 2026, Varun Beverages (VARB) is trading at a price of 442.30 INR, with a previous close of 451.35 INR. The stock has fluctuated within a day range of 439.85 INR to 451.00 INR, while its 52-week range spans from 381.00 INR to 555.80 INR.

What Is Varun Beverages (VARB) Price Target According to Analysts?

The average 12-month price target for Varun Beverages is 550.78 INR, with a high estimate of 657 INR and a low estimate of 422 INR. 22 analysts recommend buying the stock, while 0 suggest selling, leading to an overall rating of Strong Buy. The stock has an +24.53% Upside potential.
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