Varun Beverages (VBL) Stock Overview
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. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 2/6 |
| Past Performance | 4/6 |
| Financial Health | 6/6 |
| Dividends | 2/6 |
Rewards
Risk Analysis
No risks detected for VBL from our risk checks.
VBL Community Fair Values
Create NarrativeSee what 110 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Varun Beverages Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹531.55 |
| 52 Week High | ₹555.80 |
| 52 Week Low | ₹381.00 |
| Beta | 0.25 |
| 1 Month Change | 3.25% |
| 3 Month Change | 32.41% |
| 1 Year Change | 18.48% |
| 3 Year Change | 65.38% |
| 5 Year Change | 452.62% |
| Change since IPO | 1,852.10% |
Recent News & Updates
Narrative Update • Jun 08
VBL: Upcoming Board Meeting And Interim Dividend Decision Will Support Bullish Outlook
Analysts have kept the price target for Varun Beverages broadly unchanged at about ₹587 per share, reflecting only minor tweaks to assumptions around the discount rate, long term profit margin and forward P/E multiple. What's in the News Varun Beverages has scheduled a board meeting for April 27, 2026.Narrative Update • May 02
VBL: Upcoming Board Meeting And Interim Dividend Decision Will Support Bullish Outlook
Analysts have lifted their price target on Varun Beverages from ₹536.50 to about ₹587.23, citing updated assumptions that pair slightly higher projected revenue growth with a broadly similar profit margin profile and future P/E multiple. What's in the News Board meeting scheduled on Apr 27, 2026 to review Unaudited Financial Results on a Standalone and Consolidated basis for the quarter ended Mar 31, 2026 (company filing).Analysis Article • Apr 30
Varun Beverages Limited Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
A week ago, Varun Beverages Limited ( NSE:VBL ) came out with a strong set of quarterly numbers that could potentially...Recent updates
Narrative Update • Jun 08
VBL: Upcoming Board Meeting And Interim Dividend Decision Will Support Bullish Outlook
Analysts have kept the price target for Varun Beverages broadly unchanged at about ₹587 per share, reflecting only minor tweaks to assumptions around the discount rate, long term profit margin and forward P/E multiple. What's in the News Varun Beverages has scheduled a board meeting for April 27, 2026.Narrative Update • May 02
VBL: Upcoming Board Meeting And Interim Dividend Decision Will Support Bullish Outlook
Analysts have lifted their price target on Varun Beverages from ₹536.50 to about ₹587.23, citing updated assumptions that pair slightly higher projected revenue growth with a broadly similar profit margin profile and future P/E multiple. What's in the News Board meeting scheduled on Apr 27, 2026 to review Unaudited Financial Results on a Standalone and Consolidated basis for the quarter ended Mar 31, 2026 (company filing).Analysis Article • Apr 30
Varun Beverages Limited Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
A week ago, Varun Beverages Limited ( NSE:VBL ) came out with a strong set of quarterly numbers that could potentially...Narrative Update • Apr 17
VBL: Upcoming Results And Dividend Decision Will Support Bullish Outlook
Analysts now see fair value for Varun Beverages at ₹536.50 versus ₹548.74 earlier, reflecting tweaks to revenue growth, profit margin and future P/E assumptions, while keeping the discount rate unchanged. What's in the News A board meeting is scheduled for Feb 03, 2026, to review audited financial results for the quarter and financial year ended Dec 31, 2025, on both a standalone and consolidated basis (company filing).Narrative Update • Apr 02
VBL: Upcoming Board Meeting And Dividend Decision Will Drive Bullish Outlook
Analysts have trimmed their price target on Varun Beverages slightly, with fair value moving from about ₹559.37 to around ₹548.74. This reflects updated assumptions on revenue growth, profit margins and future P/E levels.Narrative Update • Mar 19
VBL: Twizza Acquisition Will Shape Future Upside In Bullish Narrative
Analysts now see only a slight adjustment to Varun Beverages' fair value estimate, trimming the target by about ₹2 per share as they fine tune assumptions around future P/E and margins. What's in the News Board meeting scheduled on Dec 21, 2025 to consider approval for acquiring 100% share capital of Twizza Proprietary Limited at an enterprise value of ZAR 2,095m through South African subsidiary The Beverages Company Proprietary Limited, subject to regulatory and other approvals including Competition Commissions of South Africa, Botswana and Eswatini (company filing).Narrative Update • Mar 05
VBL: African Acquisition Will Shape Future Upside In Bullish Narrative
Analysts have slightly reduced their price target on Varun Beverages, lowering their fair value estimate from ₹567.05 to ₹561.77 as they update their assumptions around revenue growth, profit margin and forward P/E estimates. What's in the News Board meeting scheduled on Feb 3, 2026, to consider audited financial results on both standalone and consolidated basis for the quarter and financial year ended Dec 31, 2025 (company filing).Narrative Update • Feb 19
VBL: African Acquisition And Alcohol Foray Will Shape Future Upside
Analysts have trimmed their price target on Varun Beverages from ₹596.65 to ₹567.05, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News A board meeting is scheduled on Feb 3, 2026 to review audited standalone and consolidated financial results for the quarter and financial year ended Dec 31, 2025, and to consider a proposal for a final dividend for that year, subject to shareholder approval at the AGM (Key Developments).Analysis Article • Feb 06
₹568: That's What Analysts Think Varun Beverages Limited (NSE:VBL) Is Worth After Its Latest Results
Shareholders might have noticed that Varun Beverages Limited ( NSE:VBL ) filed its yearly result this time last week...Narrative Update • Feb 04
VBL: African Expansion And Alcohol Foray Will Shape Future Upside
Analysts have slightly reduced their price target on Varun Beverages to ₹596.65 from ₹597.81, reflecting updated views that combine a more moderate revenue growth outlook with a somewhat higher expected profit margin and a marginally lower future P/E assumption. What's in the News A board meeting is scheduled for February 3, 2026 to review audited standalone and consolidated financial results for the quarter and financial year ended December 31, 2025, and to consider a proposal for a final dividend for that year, subject to shareholder approval at the AGM (company filing).Analysis Article • Jan 22
Some Confidence Is Lacking In Varun Beverages Limited's (NSE:VBL) P/E
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 23x, you may consider Varun...Narrative Update • Jan 21
VBL: African Acquisitions And Alcohol Foray Will Shape Future Upside
Analysts have made a small trim to their price target for Varun Beverages to ₹597.81 from ₹599.12, reflecting slightly adjusted expectations for fair value, revenue growth, profit margins and future P/E assumptions. What's in the News Board meeting scheduled for Dec 21, 2025 to consider acquiring 100% of Twizza Proprietary Limited at an enterprise value of ZAR 2,095m through the South African subsidiary, The Beverages Company Proprietary Limited, subject to regulatory approvals in South Africa, Botswana and Eswatini (company filing).Narrative Update • Jan 05
VBL: African Beverage Expansion And Alcohol Entry Will Drive Future Upside
Analysts have nudged their price target on Varun Beverages slightly higher to ₹599.12 from ₹597.52, reflecting modest upgrades to long term profit margin assumptions, even though growth and valuation expectations remain largely unchanged. What's in the News The board is set to consider the acquisition of 100 percent of Twizza Proprietary Limited in South Africa for an enterprise value of ZAR 2,095 million via subsidiary The Beverages Company Proprietary Limited, subject to regional competition approvals (company filing).Analysis Article • Jan 04
Why The 21% Return On Capital At Varun Beverages (NSE:VBL) Should Have Your Attention
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Narrative Update • Dec 18
VBL: African And Alcohol Beverage Expansion Will Drive Future Upside
Analysts have modestly revised their price target for Varun Beverages to Rs 597.52, reflecting largely unchanged views on long term revenue growth, margins, and valuation multiples, while still seeing upside supported by the company’s consistent execution. What's in the News Incorporated a wholly owned subsidiary, VBL Industries (Kenya) Ltd, to manufacture, distribute and sell beverages in Kenya, marking a key step in Africa focused expansion (company filing).Narrative Update • Dec 04
VBL: African Expansion Will Drive Future Upside
Analysts have modestly adjusted their price target on Varun Beverages to ₹597.52, reflecting largely unchanged assumptions on discount rate, revenue growth, profit margin, and future valuation multiples. The revision signals continued confidence in the company’s earnings trajectory.Narrative Update • Nov 20
VBL: Expanding Internationally And Entering Alcohol Segment Will Drive Future Upside
Analysts have slightly lowered their price target for Varun Beverages from ₹599.52 to ₹597.52. This reflects minimal adjustments to growth and margin expectations in their latest review.Analysis Article • Nov 17
Here's Why Varun Beverages (NSE:VBL) Can Manage Its Debt Responsibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Narrative Update • Nov 05
VBL: International Expansion And New Business Segments Will Drive Long-Term Upside
Analysts have slightly raised their price target for Varun Beverages from ₹597.75 to ₹599.52. This change is attributed to improved outlooks for revenue growth and profit margins reflected in recent projections.Analysis Article • Nov 01
Results: Varun Beverages Limited Beat Earnings Expectations And Analysts Now Have New Forecasts
As you might know, Varun Beverages Limited ( NSE:VBL ) recently reported its third-quarter numbers. The result was...Narrative Update • Oct 22
Analysts Lower Varun Beverages Price Target Slightly Amid Softer Growth and Margin Outlook
Analysts have slightly reduced their price target for Varun Beverages from ₹603.17 to ₹597.75. This adjustment reflects marginally softer growth and profit margin expectations for the coming period.Analysis Article • Oct 18
Does Varun Beverages (NSE:VBL) Deserve A Spot On Your Watchlist?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Narrative Update • Oct 08
Greenfield Plants In India Will Capture Shifting Beverage Demand
Narrative Update on Varun Beverages: Analyst Price Target Revision Analysts have slightly lowered their fair value estimate for Varun Beverages from ₹606.42 to ₹603.17, citing revised forecasts of revenue growth and updated profit margin expectations. What's in the News Varun Beverages Limited has scheduled a Board Meeting on July 29, 2025, at 11:00 Indian Standard Time.Analysis Article • Sep 18
Returns on Capital Paint A Bright Future For Varun Beverages (NSE:VBL)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...Analysis Article • Aug 18
Varun Beverages (NSE:VBL) Seems To Use Debt Quite Sensibly
NSEI:VBL 1 Year Share Price vs Fair Value Explore Varun Beverages's Fair Values from the Community and select yours The...Analysis Article • Jul 31
Varun Beverages Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year
Investors in Varun Beverages Limited ( NSE:VBL ) had a good week, as its shares rose 7.0% to close at ₹522 following...Analysis Article • Jul 25
Getting In Cheap On Varun Beverages Limited (NSE:VBL) Is Unlikely
With a price-to-earnings (or "P/E") ratio of 59x Varun Beverages Limited ( NSE:VBL ) may be sending very bearish...Analysis Article • Jul 07
Here's Why We Think Varun Beverages (NSE:VBL) Is Well Worth Watching
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
New Narrative • Nov 07
Tactical Growth In Emerging Markets Set To Boost Revenue And Margins
Expansion in India and Africa, especially through new facilities, aims to drive revenue by targeting high-growth markets and improving efficiencies.Shareholder Returns
| VBL | IN Beverage | IN Market | |
|---|---|---|---|
| 7D | 2.2% | 3.3% | 3.8% |
| 1Y | 18.5% | 3.4% | 0.5% |
Return vs Industry: VBL exceeded the Indian Beverage industry which returned 3.4% over the past year.
Return vs Market: VBL exceeded the Indian Market which returned 0.5% over the past year.
Price Volatility
| VBL volatility | |
|---|---|
| VBL Average Weekly Movement | 4.8% |
| Beverage Industry Average Movement | 6.6% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in IN Market | 10.2% |
| 10% least volatile stocks in IN Market | 4.7% |
Stable Share Price: VBL has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: VBL's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1995 | 10,654 | n/a | www.varunbeverages.com |
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.
Varun Beverages Limited Fundamentals Summary
| VBL fundamental statistics | |
|---|---|
| Market cap | ₹1.84t |
| Earnings (TTM) | ₹31.82b |
| Revenue (TTM) | ₹226.93b |
56.5x
P/E Ratio7.9x
P/S RatioIs VBL overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| VBL income statement (TTM) | |
|---|---|
| Revenue | ₹226.93b |
| Cost of Revenue | ₹101.32b |
| Gross Profit | ₹125.61b |
| Other Expenses | ₹93.78b |
| Earnings | ₹31.82b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 9.41 |
| Gross Margin | 55.35% |
| Net Profit Margin | 14.02% |
| Debt/Equity Ratio | 12.7% |
How did VBL perform over the long term?
See historical performance and comparisonDividends
0.3%
Current Dividend Yield11%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/18 22:18 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Varun Beverages Limited is covered by 34 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Parin Tanna | 360 ONE Capital Market Private Limited |
| Ronak Soni | Ambit Capital |
| null null | Antique Stockbroking Ltd. |