Varun Beverages Ltd (VARB)

Currency in INR
440.70
+1.40(+0.32%)
Closed·
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Fair Value
Day's Range
435.00444.05
52 wk Range
381.00555.80
Key Statistics
Bid/Ask
440.70 / 440.75
Prev. Close
439.3
Open
438
Day's Range
435-444.05
52 wk Range
381-555.8
Volume
3.59M
Average Volume (3m)
6.53M
1-Year Change
0.1591%
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
548.78
Upside
+24.52%
Members' Sentiments
Bearish
Bullish
ProTips
Impressive gross profit margins

Varun Beverages Ltd News & Analysis

Show more

Technical Analysis

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

Analyst Ratings

23 Buy
4 Hold
0 Sell
Ratings:
27 analysts
Overall Consensus
Strong Buy

Analysts 12-Month Price Target:

Average 548.78
(+24.52% Upside)
Firm
ArticlePositionPrice TargetUpside / DownsideFrom Price TargetActionDate
BofA Securities
Buy555.00+25.94%-Maintain26/08/2026
ICICI Securities
Hold450.00+2.11%500.00Maintain30/07/2026
JPMorgan
Buy530.00+20.26%565.00Maintain29/07/2026
CLSA
Buy629.00+42.73%654.00Maintain29/07/2026
Kotak
Buy540.00+22.53%505.00Maintain28/04/2026

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: 28/07/2026, 10:58
Read Full Transcript

Earnings

Latest Release
28/07/2026
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
0.34%
Industry Median 0.58%
Annualised payout
1.50
Paid unevenly
5-Years Growth
+46.51%
Growth Streak

Compare VARB to Peers and Sector

Metrics to compare
VARB
Peers
Sector
Relationship
P/E Ratio
43.9x25.1x10.9x
PEG Ratio
2.540.420.03
Price/Book
6.8x4.4x1.5x
Price / LTM Sales
6.2x2.1x0.9x
Upside (Analyst Target)
25.1%34.4%27.1%
Fair Value Upside
Unlock15.9%13.5%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
687.89M20.34%302.40B
Other Institutional Investors
1.01B29.81%443.21B
Public Companies & Retail Investors
1.69B49.86%741.33B
Total
3.38B100.00%1.49T

Top Holders

Holder
% of holding
Shares Held
Date Reported
Value (In 1,000s)
Jaipuria Group25.28%855,041,916375,876,426
Norges Bank Investment Management1.93%65,226,89828,673,744

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FAQ

What Is the Varun Beverages (NSE: VARB) Share Price Today?

The Varun Beverages stock price today is 440.70 INR.

What Stock Exchange Does Varun Beverages (VARB) Trade On?

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

What Is the Ticker (Stock Symbol) for Varun Beverages?

The stock symbol (also called a 'ticker') for Varun Beverages is "VARB."

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

Yes, VARB Pays Dividends to its Shareholders. The current Varun Beverages dividend yield is 0.34%.

What Is the Current Varun Beverages Market Capitalisation?

As of today, Varun Beverages (NSE: VARB) market cap is 1.49T INR.

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

The Varun Beverages EPS is currently 10.01 (Trailing Twelve Months).

When Is the Next Varun Beverages Earnings Date?

Varun Beverages's next earnings report will be released on 14/11/2026.

Is VARB a Buy or Sell From a Technical Analyst Perspective?

Based on today's Varun Beverages moving averages and other technical indicators, the daily buy/sell signal for VARB stock is Strong Buy.

How Many Times Has Varun Beverages Stock Split?

Varun Beverages has split 5 times. (See the VARB stock split history page for full effective split date and price information.)

How Many Employees Does Varun Beverages Have?

Varun Beverages has 10654 employees, based on their latest Companies House report.

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

As of 07/10/2026, Varun Beverages (VARB) is trading at a share price of 440.70 INR, with a previous close of 439.30 INR. The stock has fluctuated within a day range of 435.00 INR to 444.05 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 548.78 INR, with a high estimate of 657 INR and a low estimate of 422 INR. 23 analysts recommend buying the stock, while 0 suggest selling, leading to an overall rating of Strong Buy. The stock has an +24.52% Upside potential.
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