Varun Beverages Ltd

Varun Beverages Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Varun Beverages Ltd

₹ 478 1.97%
21 Feb - close price
varunbeverages.com BSE: 540180 NSE: VBL
About

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]

Key Points

Brands[1]
PepsiCo. franchised Brands - Pepsi, Tropicana, Slice, 7UP, Sting, Kurkure, Aquafina, Lipton, Doritos, Mirinda, Fritolay etc.
Own Brands - Jive, Cooe, Reboost, Creambell, Aquaclear, Refreshh etc.

Website BSE NSE
  • Market Cap ₹ 1,61,530 Cr.
  • Current Price ₹ 478
  • High / Low ₹ 683 / 454
  • Stock P/E 62.3
  • Book Value ₹ 49.1
  • Dividend Yield 0.21 %
  • ROCE 24.2 %
  • ROE 22.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 40.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
  • Company's median sales growth is 24.7% of last 10 years

Cons

  • Stock is trading at 9.72 times its book value
  • Promoter holding has decreased over last quarter: -2.46%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

Part of BSE 100 LargeCap TMC Index BSE India Manufacturing Index Nifty Alpha 50 BSE Allcap BSE Fast Moving Consumer Goods

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
1,734 2,827 4,955 3,177 2,214 3,893 5,611 3,871 2,668 4,317 7,197 4,805 3,689
1,527 2,296 3,704 2,478 1,907 3,095 4,101 2,989 2,249 3,329 5,206 3,654 3,110
Operating Profit 208 531 1,251 699 307 798 1,511 882 418 989 1,991 1,151 579
OPM % 12% 19% 25% 22% 14% 20% 27% 23% 16% 23% 28% 24% 16%
1 9 10 11 9 10 42 19 9 8 44 24 45
Interest 37 47 46 45 47 63 69 62 74 94 129 119 109
Depreciation 129 131 153 153 180 172 172 171 166 188 242 257 261
Profit before tax 42 361 1,062 511 90 573 1,311 667 188 716 1,663 800 254
Tax % 22% 25% 24% 23% 9% 24% 23% 23% 24% 23% 24% 21% 23%
33 271 802 395 82 439 1,005 514 144 548 1,262 629 196
EPS in Rs 0.05 0.78 2.42 1.17 0.23 1.32 3.06 1.54 0.41 1.65 3.86 1.91 0.55
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
2,115 2,502 3,394 3,861 4,004 5,105 7,130 6,450 8,823 13,173 16,043 20,008
1,824 2,116 2,752 3,052 3,165 4,069 5,667 5,235 7,129 10,310 12,326 15,298
Operating Profit 291 387 642 810 838 1,036 1,462 1,215 1,694 2,863 3,717 4,710
OPM % 14% 15% 19% 21% 21% 20% 21% 19% 19% 22% 23% 24%
19 14 36 27 14 6 47 -30 51 -18 -5 121
Interest 171 187 170 435 215 223 324 294 207 204 292 450
Depreciation 184 210 317 322 347 385 489 529 531 617 681 947
Profit before tax -46 4 191 79 291 434 696 363 1,007 2,024 2,739 3,433
Tax % -11% 658% 41% 39% 26% 31% 32% 1% 26% 23% 23% 23%
-40 -20 113 48 214 300 472 357 746 1,550 2,102 2,634
EPS in Rs -0.18 -0.09 0.50 0.14 0.68 0.95 1.44 1.01 2.14 4.61 6.33 7.67
Dividend Payout % -0% -0% -0% -0% 22% 16% 15% 22% 16% 15% 16% 7%
Compounded Sales Growth
10 Years: 23%
5 Years: 23%
3 Years: 31%
TTM: 25%
Compounded Profit Growth
10 Years: 63%
5 Years: 41%
3 Years: 54%
TTM: 22%
Stock Price CAGR
10 Years: %
5 Years: 46%
3 Years: 57%
1 Year: -21%
Return on Equity
10 Years: 23%
5 Years: 25%
3 Years: 28%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
Equity Capital 134 134 134 182 183 183 289 289 433 650 650 676
Reserves 82 9 91 1,511 1,587 1,816 3,040 3,235 3,647 4,453 6,287 15,934
2,332 2,615 2,527 2,215 2,654 2,808 3,417 3,216 3,387 3,884 5,431 2,826
439 533 1,680 915 852 1,192 1,630 1,707 2,113 2,632 2,819 3,708
Total Liabilities 2,986 3,292 4,431 4,824 5,276 5,998 8,376 8,447 9,579 11,618 15,187 23,144
2,375 2,355 3,496 3,716 3,981 4,387 6,479 6,409 6,311 6,932 8,409 13,406
CWIP 27 25 38 96 145 352 64 67 497 607 1,922 1,162
Investments 1 304 3 7 8 11 -0 -0 -0 0 21 60
583 608 894 1,006 1,141 1,247 1,833 1,972 2,772 4,079 4,835 8,516
Total Assets 2,986 3,292 4,431 4,824 5,276 5,998 8,376 8,447 9,579 11,618 15,187 23,144

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
297 431 555 826 620 1,000 1,308 1,012 1,231 1,790 2,391 3,381
-574 -500 -300 -1,048 -746 -937 -2,320 -472 -1,008 -1,769 -3,288 -4,317
274 58 -236 230 159 -84 1,107 -574 -178 -18 985 2,954
Net Cash Flow -2 -11 19 8 32 -22 95 -33 46 4 88 2,018

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
Debtor Days 11 14 11 12 14 9 9 14 9 8 8 15
Inventory Days 75 77 90 103 88 94 100 123 131 116 106 114
Days Payable 42 48 39 58 38 52 54 68 64 48 37 64
Cash Conversion Cycle 44 43 62 58 64 52 55 69 76 76 77 66
Working Capital Days 28 -24 -46 -50 -33 -23 -13 -6 30 32 38 46
ROCE % 5% 7% 12% 16% 12% 15% 18% 11% 17% 27% 29% 24%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
64.89% 63.90% 63.90% 63.90% 63.90% 63.61% 63.09% 63.09% 62.91% 62.67% 62.67% 60.20%
21.03% 23.93% 25.01% 26.45% 26.00% 26.71% 27.55% 26.58% 25.79% 25.32% 24.18% 25.27%
7.21% 5.31% 4.45% 3.42% 3.67% 3.16% 3.36% 3.58% 4.16% 4.54% 4.97% 7.00%
6.87% 6.86% 6.62% 6.20% 6.41% 6.52% 6.01% 6.74% 7.16% 7.46% 8.19% 7.52%
No. of Shareholders 1,37,2081,73,9352,35,8042,44,9752,61,2863,53,7423,75,5344,40,2784,89,8875,09,6076,98,7597,42,488

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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