VBL
Varun Beverages Limited (VBL) Stock Analysis
Varun Beverages Limited is the largest PepsiCo franchisee bottling beverages in India and several overseas markets. It manufactures and distributes Pepsi, Mountain Dew, Tropicana, and water brands across a vast cold-drink network. VBL invests in capacity, distribution, and sports marketing. It is listed on the NSE and BSE.
Consumer Defensive › Beverages - Non-Alcoholic
₹425.00
+2.34% 1W | -9.10% 52W
Market Cap
143.8k CR
P/E Ratio
42.5
52W High
₹555.8
52W Low
₹381
Div. Yield
0.47%
Beta
0.3
50 DMA
₹434.6
200 DMA
₹465.9
Profit Margin
14%
Inst. Own.
24.5%
🚀 BREAKOUT
🚀 BREAKOUT
Fundamentals
Profit & Loss
| Metric | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,611 | 3,871 | 2,668 | 4,317 | 7,197 | 4,805 | 3,689 | 5,567 | 7,017 | 4,897 | 4,204 | 6,574 | 8,451 |
| Expenses | 4,101 | 2,989 | 2,249 | 3,329 | 5,206 | 3,654 | 3,110 | 4,304 | 5,020 | 3,751 | 3,568 | 5,049 | 6,112 |
| Operating Profit | 1,511 | 882 | 418 | 989 | 1,991 | 1,151 | 579 | 1,263 | 1,998 | 1,146 | 637 | 1,525 | 2,339 |
| OPM % | 27% | 23% | 16% | 23% | 28% | 24% | 16% | 23% | 28% | 23% | 15% | 23% | 28% |
| Other Income | 42 | 19 | 9 | 8 | 44 | 24 | 45 | 28 | 77 | 148 | 99 | 44 | 104 |
| Interest | 69 | 62 | 74 | 94 | 129 | 119 | 109 | 41 | 37 | 45 | 47 | 49 | 57 |
| Depreciation | 172 | 171 | 166 | 188 | 242 | 257 | 261 | 273 | 306 | 308 | 330 | 357 | 409 |
| Profit before tax | 1,311 | 667 | 188 | 716 | 1,663 | 800 | 254 | 978 | 1,732 | 941 | 359 | 1,163 | 1,977 |
| Tax % | 23% | 23% | 24% | 23% | 24% | 21% | 23% | 25% | 23% | 21% | 28% | 24% | 23% |
| Net Profit | 1,005 | 514 | 144 | 548 | 1,262 | 629 | 196 | 731 | 1,325 | 745 | 260 | 879 | 1,525 |
| EPS in Rs | 3.06 | 1.54 | 0.41 | 1.65 | 3.86 | 1.91 | 0.55 | 2.15 | 3.89 | 2.19 | 0.74 | 2.58 | 4.50 |
| Metric | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,502 | 3,394 | 3,861 | 4,004 | 5,105 | 7,130 | 6,450 | 8,823 | 13,173 | 16,043 | 20,008 | 21,685 | 24,126 |
| Expenses | 2,116 | 2,752 | 3,052 | 3,165 | 4,069 | 5,667 | 5,235 | 7,129 | 10,310 | 12,326 | 15,189 | 16,616 | 18,480 |
| Operating Profit | 387 | 642 | 810 | 838 | 1,036 | 1,462 | 1,215 | 1,694 | 2,863 | 3,717 | 4,818 | 5,070 | 5,646 |
| OPM % | 15% | 19% | 21% | 21% | 20% | 21% | 19% | 19% | 22% | 23% | 24% | 23% | 23% |
| Other Income | 14 | 36 | 27 | 14 | 6 | 47 | -30 | 51 | -18 | -5 | 45 | 352 | 395 |
| Interest | 187 | 170 | 435 | 215 | 223 | 324 | 294 | 207 | 204 | 292 | 483 | 196 | 197 |
| Depreciation | 210 | 317 | 322 | 347 | 385 | 489 | 529 | 531 | 617 | 681 | 947 | 1,216 | 1,404 |
| Profit before tax | 4 | 191 | 79 | 291 | 434 | 696 | 363 | 1,007 | 2,024 | 2,739 | 3,433 | 4,010 | 4,440 |
| Tax % | 658% | 41% | 39% | 26% | 31% | 32% | 1% | 26% | 23% | 23% | 23% | 24% | |
| Net Profit | -20 | 113 | 48 | 214 | 300 | 472 | 357 | 746 | 1,550 | 2,102 | 2,634 | 3,062 | 3,409 |
| EPS in Rs | -0.09 | 0.50 | 0.14 | 0.68 | 0.95 | 1.44 | 1.01 | 2.14 | 4.61 | 6.33 | 7.67 | 8.98 | 10.01 |
| Dividend Payout % | 0% | 0% | 0% | 22% | 16% | 15% | 22% | 16% | 15% | 16% | 13% | 17% |
Growth — CAGR
| Metric | 3Y | 5Y | 10Y |
|---|---|---|---|
| Revenue CAGR | 18.0% | 27.0% | 20.0% |
| Profit CAGR | 24.0% | 50.0% | 40.0% |
Shareholding Pattern
Promoters59.82%
FIIs21.86%
DIIs10.52%
Public7.80%
Promoters59.44%
FIIs21.93%
DIIs11.78%
Public6.84%
Promoters59.44%
FIIs20.31%
DIIs13.56%
Public6.69%
Promoters59.43%
FIIs19.51%
DIIs14.35%
Public6.66%
Promoters59.43%
FIIs19.03%
DIIs15.16%
Public6.33%
Promoters63.90%
FIIs26.00%
DIIs3.67%
Public6.41%
Promoters62.91%
FIIs25.79%
DIIs4.16%
Public7.16%
Promoters60.23%
FIIs22.98%
DIIs9.19%
Public7.59%
Promoters59.43%
FIIs19.51%
DIIs14.35%
Public6.66%
Promoters59.43%
FIIs19.03%
DIIs15.16%
Public6.33%
VBL
Holdings Analysis
Key strengths & risk signals
70
Overall
84
Fundamental
57
Technical
Risks (4)
NEGLIGIBLE DIVIDEND! 0.47% yield - little to no income.
WEAK POSITION! Current price (425.0) is below both moving averages.
WEAK YEAR! Stock declined 9.1% in the last year.
LOWER HALF! Trading at 25.2% of 52W range - weakness visible.
Strengths (4)
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
BREAKOUT! Stock has broken above resistance levels with momentum.
LOW VOLATILITY! Beta of 0.30 - stable stock, less market risk.
NEUTRAL! RSI at 52.0 - balanced momentum.
Fundamental & Technical Analysis
70Overall
84Fundamental
57Technical
Fundamental Breakdown
Growth Quality
28/30
Revenue CAGR: 17.3% (VERY GOOD, 13/15). Profit CAGR: 26.6% (EXCELLENT, 15/15).
Profit Margin
5/10
DECENT EFFICIENCY! 14.0% profit margin - acceptable profitability.
PEG Valuation
8/10
FAIRLY VALUED! PEG of 1.60 indicates reasonable valuation.
Dividend Yield
3/10
NEGLIGIBLE DIVIDEND! 0.47% yield - little to no income.
Debt to Equity
10/10
VERY LOW DEBT! D/E of 0.00 - excellent financial health.
Public Holding
20/20
VERY LESS PUBLIC HOLDING! 6.52% public ownership - strong promoter/institutional control.
Stability Index
10/10
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
Technical Breakdown
Moving Averages
5/10
BEARISH TREND! 50-day average (434.6) is below 200-day average (465.9) - negative signal.
Price Position
2/10
WEAK POSITION! Current price (425.0) is below both moving averages.
Trend Pattern
20/20
BREAKOUT! Stock has broken above resistance levels with momentum.
52W Performance
3/10
WEAK YEAR! Stock declined 9.1% in the last year.
Volume Sentiment
15/30
BEARISH SENTIMENT! In last 30 days: 15 up days, 14 down days. Avg volume on up days: 5,973,631 vs down days: 6,590,210. Ratio: 0.91x
RSI
3/5
NEUTRAL! RSI at 52.0 - balanced momentum.
52W Range
2/5
LOWER HALF! Trading at 25.2% of 52W range - weakness visible.
Momentum
2/5
WEAK MOMENTUM! Limited price growth - 2.3% (1 week), -1.8% (1 month), -15.5% (3 months).
Beta
5/5
LOW VOLATILITY! Beta of 0.30 - stable stock, less market risk.
VBL
Concall / Investor Presentation
Earnings call transcripts & AI summaries
| Quarter | Concall | Summary |
|---|---|---|
| Q1FY272026-08-04 | Concall PDF | |
| Q4FY262026-05-04 | Concall PDF | |
| Q3FY262026-02-10 | Concall PDF | |
| Q2FY262025-11-04 | Concall PDF |
Peer Comparison
Consumer Defensive · Beverages - Non-Alcoholic · 8 stocks
| Stock | Price | P/E | Profit Margin | Revenue CAGR 5Y | Profit CAGR 5Y | 52W Change | Stock Strength | Trendline | YoY Profit | QoQ Profit | YoY Revenue | QoQ Revenue |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VBL | ₹425.00 | 42.5 | 14.0% | 17.3% | 26.6% | -9.1% | 70 | BREAKOUT | +15.5% | +74.3% | +20.4% | +28.6% |
| VINCOFE | ₹176.30 | 31.7 | 12.9% | 106.4% | 165.4% | +18.7% | 78 | CONSOLIDATION | +46.5% | -1.0% | +58.5% | -2.6% |
| RAMANEWS | ₹32.00 | – | -206.7% | -11.2% | – | -5.4% | 51 | BREAKDOWN | +1.9% | -72.3% | +5.4% | +22.8% |
| BRITANNIA | ₹5,021.00 | 46.5 | 13.4% | 5.7% | 3.0% | -17.5% | 58 | APPROACHING SUPPORT | +13.6% | -12.8% | +9.5% | +5.9% |
| MARICO | ₹828.00 | 56.9 | 13.2% | 11.8% | 10.6% | +12.1% | 66 | APPROACHING SUPPORT | +25.0% | +61.1% | +22.9% | +18.7% |
| UNITDSPR | ₹1,397.00 | 58.5 | 14.9% | 5.6% | 17.4% | +2.3% | 65 | BREAKDOWN | +11.0% | -14.1% | +6.2% | -11.3% |
| TATACONSUM | ₹1,000.60 | 60.5 | 7.8% | 13.9% | 8.6% | -11.9% | 55 | APPROACHING SUPPORT | +27.8% | +1.9% | +11.9% | -1.6% |
| GODREJCP | ₹867.00 | 46.3 | 12.1% | 4.6% | 3.0% | -28.6% | 49 | BOUNCE FROM SUPPORT | +11.5% | +11.7% | +18.6% | +8.4% |
Data from TradeAlone · Updated daily
