Varun Beverages Limited
Varun Beverages Limited operates in Other Beverages, part of the Fast Moving Consumer Goods sector. It booked ₹8,651 cr of revenue in its latest quarter (Q1 FY27) and kept 17.6% of sales as profit. It is the 4th largest of 9 Fast Moving Consumer Goods companies we track, by market value.
“The Company is primarily the balance sheet based on current/non-current engaged in manufacturing, selling, bottling and classification.”
Healthier than 75% of companies in Fast Moving Consumer Goods, on the 4 of 6 measures we could read for it. Each measure is ranked against the 122–149 companies that reported it.
Measures financial condition, not whether to buy. Learn what this score means · How this is calculated
- RSI (14)
- 45
At close. Not part of the score.
How much profit it earns on the money it employs
How much it owes, and whether earnings cover the interest
What today's price implies, against our models or its peers
How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure
Not measurable for this company: cash quality, growth & consistency. Those pillars are left out of the score rather than counted as zero.
What if I invest in VBL?
Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.
The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.
P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.
An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.
| Revenue from Operations | ₹8,651 cr |
| Other Income | ₹104 cr |
| Total Income | ₹8,755 cr |
| Cost of Materials | ₹3,653 cr |
| Purchases of Stock-in-Trade | ₹183 cr |
| Inventory Change (±) | ₹-30 cr |
| Employee Benefit Expense | ₹683 cr |
| Finance Costs | ₹57 cr |
| Depreciation & Amortisation | ₹409 cr |
| Other Expenses | ₹1,818 cr |
| Total Expenses | ₹6,773 cr |
| Profit before Tax | ₹1,981 cr |
| Tax Expense | ₹452 cr |
| Share of JV / Associates | ₹-4 cr |
| Net Profit | ₹1,525 cr |
| Net margin on total income | 17.4% |
| Metric | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 4,335 cr | 6,722 cr | 8,651 cr |
| Total income | 4,434 cr | 6,765 cr | 8,755 cr |
| Expenses | 4,072 cr | 5,598 cr | 6,773 cr |
| Profit before tax | 361 cr | 1,167 cr | 1,981 cr |
| Tax | 99 cr | 284 cr | 452 cr |
| Net profit (owners' share) | 252 cr | 872 cr | 1,521 cr |
| Net margin (owners' share, on revenue) | 5.8% | 13.0% | 17.6% |
| EPS (₹) | 0.74 | 2.58 | 4.50 |
| Company | Price | Market cap | P/E | ROE | Net margin | 1-yr return |
|---|---|---|---|---|---|---|
| Hindustan Unilever Limited | ₹1,942 | ₹4.56 L cr | 42.7 | 21.9% | 15.4% | — |
| ITC Limited | ₹266 | ₹3.34 L cr | 19.0 | 24.2% | 14.9% | — |
| Nestle India Limited | ₹1,371 | ₹2.64 L cr | 68.9 | 74.4% | 15.0% | — |
| Varun Beverages Limitedthis company | ₹415 | ₹1.41 L cr | 23.1 | 27.9% | 17.6% | — |
| Britannia Industries Limited | ₹4,982 | ₹1.20 L cr | 50.7 | 46.3% | 11.8% | — |
| Marico Limited | ₹817 | ₹1.06 L cr | 42.0 | 59.9% | 15.9% | — |
| United Spirits Limited | ₹1,390 | ₹1.01 L cr | 104.0 | 20.7% | 7.6% | — |
| TATA CONSUMER PRODUCTS LIMITED | ₹1,014 | ₹1.00 L cr | 58.8 | 7.8% | 8.0% | — |
| Godrej Consumer Products Limited | ₹873 | ₹89,325 cr | 44.3 | 15.9% | 11.9% | — |
| Action | Detail | Ex-date |
|---|---|---|
| Dividend | ₹0.5 / share | 31 Jul 2026 |
| Dividend | ₹0.5 / share | 30 Apr 2026 |
| Dividend | ₹0.5 / share | 8 Apr 2026 |
| Dividend | ₹0.5 / share | 1 Aug 2025 |
| Dividend | ₹0.5 / share | 7 May 2025 |
| Dividend | ₹0.5 / share | 4 Apr 2025 |
A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.
Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.
Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.
Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.
When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.
As of Mar 2025, the company says it has spent 100% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.
Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing