Varun Beverages Ltd

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

Varun Beverages Ltd

₹ 621 0.02%
04 Dec 1:50 p.m.
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, 8UP, Sting, Kurkure, Aquafina, Lipton, Doritos, Mirinda, Fritolay etc.
Own Brands - Jive, Cooe, Reboost, Creambell, Aquaclear, Refreshh etc.

Website BSE NSE
  • Market Cap ₹ 2,10,023 Cr.
  • Current Price ₹ 621
  • High / Low ₹ 683 / 422
  • Stock P/E 94.2
  • Book Value ₹ 26.3
  • Dividend Yield 0.16 %
  • ROCE 25.5 %
  • ROE 29.1 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 40.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 19.4%
  • Company's median sales growth is 19.2% of last 10 years

Cons

  • Stock is trading at 23.3 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 500 BSE 100 LargeCap TMC Index BSE 100 Nifty India Consumption Nifty100 ESG

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,711 1,101 2,184 4,366 2,502 1,544 3,222 4,672 2,892 1,846 3,446 5,802 3,087
1,381 1,036 1,785 3,263 2,001 1,368 2,550 3,364 2,185 1,552 2,625 4,063 2,286
Operating Profit 329 65 399 1,103 501 176 672 1,308 707 294 821 1,739 801
OPM % 19% 6% 18% 25% 20% 11% 21% 28% 24% 16% 24% 30% 26%
8 34 20 24 26 74 19 46 31 51 33 67 100
Interest 33 34 43 35 32 43 57 62 56 67 84 103 99
Depreciation 100 98 101 125 111 147 136 129 128 125 139 167 157
Profit before tax 205 -33 275 967 383 59 498 1,162 555 154 630 1,536 645
Tax % 29% -40% 29% 25% 25% 1% 25% 25% 25% 23% 26% 25% 24%
146 -20 195 728 288 59 373 868 416 119 469 1,150 492
EPS in Rs 0.45 -0.06 0.60 2.24 0.89 0.18 1.15 2.67 1.28 0.37 1.44 3.54 1.52
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 TTM
1,461 1,745 2,019 2,864 2,980 3,063 3,862 5,616 4,876 6,596 10,596 12,633 14,181
1,273 1,517 1,696 2,284 2,277 2,338 2,996 4,411 4,016 5,394 8,371 9,572 10,526
Operating Profit 189 228 322 580 703 725 866 1,205 860 1,202 2,224 3,061 3,655
OPM % 13% 13% 16% 20% 24% 24% 22% 21% 18% 18% 21% 24% 26%
47 33 42 41 50 46 88 98 5 36 99 70 251
Interest 98 149 158 140 389 192 196 282 250 156 156 244 352
Depreciation 97 134 152 263 249 274 296 387 413 400 483 518 589
Profit before tax 41 -22 55 219 114 304 463 634 203 682 1,684 2,368 2,965
Tax % -10% -26% 35% 31% 22% 23% 28% 29% -12% 28% 25% 25%
45 -16 35 152 90 236 332 449 226 489 1,270 1,775 2,230
EPS in Rs 3.37 -0.07 0.16 0.67 0.29 0.76 1.08 1.38 0.70 1.51 3.91 5.47 6.87
Dividend Payout % 0% 0% 0% 0% 0% 19% 14% 16% 32% 22% 18% 18%
Compounded Sales Growth
10 Years: 22%
5 Years: 27%
3 Years: 37%
TTM: 15%
Compounded Profit Growth
10 Years: 60%
5 Years: 40%
3 Years: 86%
TTM: 30%
Stock Price CAGR
10 Years: %
5 Years: 58%
3 Years: 74%
1 Year: 46%
Return on Equity
10 Years: 18%
5 Years: 19%
3 Years: 24%
Last Year: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Jun 2024
Equity Capital 8 134 134 134 182 183 183 289 289 433 650 650 650
Reserves 172 129 120 277 1,954 2,114 2,406 3,578 3,723 3,966 4,868 6,426 7,900
1,630 1,929 2,231 2,204 1,460 2,087 2,535 3,201 3,052 3,186 3,595 4,882 5,185
356 306 387 1,527 1,003 915 962 1,306 1,233 1,481 1,957 2,052 2,767
Total Liabilities 2,166 2,497 2,872 4,142 4,600 5,299 6,086 8,374 8,297 9,066 11,069 14,009 16,501
1,222 1,719 1,733 2,916 2,992 3,278 3,322 5,402 5,263 5,012 5,752 6,938 9,053
CWIP 148 10 17 32 69 12 339 59 39 478 540 1,576 336
Investments 101 168 523 304 501 627 774 908 1,352 1,352 1,354 1,450 1,878
694 599 599 889 1,039 1,381 1,651 2,005 1,642 2,224 3,423 4,045 5,234
Total Assets 2,166 2,497 2,872 4,142 4,600 5,299 6,086 8,374 8,297 9,066 11,069 14,009 16,501

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023
222 252 378 510 752 500 742 1,067 720 868 1,559 1,953
-412 -445 -500 -360 -1,108 -809 -704 -2,229 -228 -725 -1,509 -2,770
195 195 116 -134 353 326 -67 1,193 -488 -155 -26 819
Net Cash Flow 4 1 -6 16 -4 16 -29 31 4 -12 23 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023
Debtor Days 15 8 6 6 6 11 13 8 13 7 5 6
Inventory Days 79 64 67 86 96 82 86 94 112 124 99 94
Days Payable 20 27 29 24 39 22 37 44 45 54 40 30
Cash Conversion Cycle 74 45 44 68 63 72 62 58 80 78 64 70
Working Capital Days -2 -20 -24 -46 -57 -33 -13 -6 -3 42 33 39
ROCE % 10% 6% 9% 14% 16% 12% 14% 15% 7% 12% 23% 26%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Nov 2024
64.89% 63.90% 63.90% 63.90% 63.90% 63.61% 63.09% 63.09% 62.91% 62.67% 62.67% 60.21%
21.03% 23.93% 25.01% 26.45% 26.00% 26.71% 27.55% 26.58% 25.79% 25.32% 24.18% 25.25%
7.21% 5.31% 4.45% 3.42% 3.67% 3.16% 3.36% 3.58% 4.16% 4.54% 4.97% 6.50%
6.87% 6.86% 6.62% 6.20% 6.41% 6.52% 6.01% 6.74% 7.16% 7.46% 8.19% 8.05%
No. of Shareholders 1,37,2081,73,9352,35,8042,44,9752,61,2863,53,7423,75,5344,40,2784,89,8875,09,6076,98,7597,72,415

* 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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