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Indian (NIFTY) Beverage Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies27
  • 7D-3.1%
  • 3M-15.3%
  • 1Y-17.1%
  • YTD-16.1%

Over the last 7 days, the Beverage industry has dropped 3.1%, driven by United Spirits declining 6.9%. However, the industry is down 17% over the past year. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

Has the Indian Beverage Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026₹3.4t₹662.8b₹66.9b35.9x50.3x5.1x
Sun, 01 Mar 2026₹3.7t₹662.8b₹66.9b40.5x55.4x5.6x
Tue, 27 Jan 2026₹3.7t₹654.1b₹67.7b35.3x55.2x5.7x
Thu, 25 Dec 2025₹4.0t₹644.5b₹65.6b42.2x60.7x6.2x
Sat, 22 Nov 2025₹3.9t₹649.2b₹65.3b43.6x60x6x
Mon, 20 Oct 2025₹3.9t₹637.2b₹63.0b36.6x61.7x6.1x
Wed, 17 Sep 2025₹3.9t₹635.9b₹62.9b41.5x61.4x6.1x
Fri, 15 Aug 2025₹4.0t₹636.1b₹63.1b36.6x62.9x6.2x
Sun, 13 Jul 2025₹3.8t₹623.7b₹61.4b36x61.5x6.1x
Tue, 10 Jun 2025₹4.0t₹661.1b₹60.5b33.3x66x6x
Thu, 08 May 2025₹4.0t₹607.0b₹56.9b29.4x71.2x6.7x
Sat, 05 Apr 2025₹3.9t₹591.2b₹54.8b31.4x71.8x6.7x
Mon, 03 Mar 2025₹3.4t₹591.2b₹54.8b28.9x62.6x5.8x
Wed, 29 Jan 2025₹3.9t₹577.6b₹54.3b38.5x72.6x6.8x
Fri, 27 Dec 2024₹4.4t₹571.7b₹54.3b43.7x81.8x7.8x
Sun, 24 Nov 2024₹4.2t₹571.6b₹54.3b38.9x78.1x7.4x
Tue, 22 Oct 2024₹4.1t₹599.2b₹52.4b41.5x77.3x6.8x
Thu, 19 Sep 2024₹4.4t₹599.2b₹52.4b52.6x83.3x7.3x
Sat, 17 Aug 2024₹3.9t₹599.2b₹52.4b42.9x73.8x6.5x
Mon, 15 Jul 2024₹4.0t₹530.4b₹49.0b45.2x82.2x7.6x
Wed, 12 Jun 2024₹3.9t₹499.1b₹48.9b43.2x80.4x7.9x
Fri, 10 May 2024₹3.6t₹592.1b₹47.1b37.3x77x6.1x
Sun, 07 Apr 2024₹3.6t₹482.6b₹45.9b39.7x79.2x7.5x
Tue, 05 Mar 2024₹3.5t₹482.6b₹45.9b39.3x77.1x7.3x
Thu, 01 Feb 2024₹3.3t₹470.8b₹44.6b25.8x74.9x7.1x
Sat, 30 Dec 2023₹3.3t₹466.9b₹43.1b31.7x76.2x7x
Mon, 27 Nov 2023₹2.9t₹466.9b₹43.1b30x67.9x6.3x
Wed, 25 Oct 2023₹2.7t₹458.2b₹43.9b26.7x61.1x5.8x
Fri, 22 Sep 2023₹2.7t₹455.2b₹44.1b25.8x60.4x5.8x
Sun, 20 Aug 2023₹2.6t₹627.1b₹44.1b22x59.5x4.2x
Tue, 18 Jul 2023₹2.5t₹615.8b₹39.8b25.4x63.5x4.1x
Thu, 15 Jun 2023₹1.9t₹615.5b₹39.8b24.3x47.1x3x
Sat, 13 May 2023₹2.2t₹441.7b₹40.4b21.4x55.2x5.1x
Mon, 10 Apr 2023₹2.1t₹438.6b₹40.1b29.6x52.1x4.8x
Price to Earnings Ratio

52.1x


Total Market Cap: ₹2.1tTotal Earnings: ₹40.1bTotal Revenue: ₹438.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Beverage Industry Price to Earnings3Y Average 68x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Beverage industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 50.3x which is lower than its 3-year average PE of 68.0x.
  • The 3-year average PS ratio of 6.2x is higher than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Beverage industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 15% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Consumer Staples industry?

IN Market-2.08%
Consumer Staples-0.92%
Beverage-3.10%
Soft Drinks0.58%
Distillers and Wine Makers-4.97%
Brewers-7.36%
Industry PE
  • Investors are most optimistic about the Brewers industry even though it's trading below its 3-year average PE ratio of 109x.
    • Analysts are expecting annual earnings growth of 34.3%, which is higher than its past year's earnings decline of 0.3% per year.
  • Investors are most pessimistic about the Soft Drinks industry, which is trading below its 3-year average of 69.5x.
Forecasted Growth
  • Analysts are most optimistic on the Brewers industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings decline of 0.3% per year.
  • In contrast, the Soft Drinks industry is expected to see its earnings grow by 13% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VBL Varun Beverages₹403.700.6%
+₹7.6b		-25.9%PE45x
ABDL Allied Blenders and Distillers₹423.853.8%
+₹4.3b		34.6%PE44.6x
SULA Sula Vineyards₹156.492.4%
+₹315.8m		-44.8%PE43.9x
507155 Jagatjit Industries₹130.905.6%
+₹307.8m		-31.9%PE29.1x
532320 Vaarad Ventures₹9.2513.2%
+₹269.9m		-25.2%PB10.4x

Latest News

532478
₹1,485.90
United Breweries
7D
-7.5%
1Y
-25.1%

532478: Fair Outlook Will Depend On New Launch And Margin Resilience

Analysts have kept the price target for United Breweries unchanged at ₹1,500, reflecting slightly adjusted assumptions for revenue growth, profit margins and future P/E that are still viewed as consistent with the prior valuation view. What's in the News A board meeting is scheduled on February 10, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and year to date ended December 31, 2025 (company filing).
UNITDSPR
₹1,221.20
United Spirits
7D
-6.9%
1Y
-14.6%

UNITDSPR: Planned Franchise Sale Will Support Higher Future Profitability

Analysts have left their fair value target for United Spirits unchanged at ₹1,730. They explained that slightly softer revenue growth assumptions, alongside a modestly higher profit margin outlook and a small adjustment in future P/E expectations, still support the same overall price target.
507205
₹424.40
Tilaknagar Industries
7D
-5.2%
1Y
71.4%

507205: Leadership And ESOP Changes Will Support Future Upside Potential

Analysts have trimmed Tilaknagar Industries' price target slightly from ₹560.50 to ₹557.00, reflecting updated assumptions on revenue growth, profit margins and future P/E that remain broadly in line with prior expectations. What's in the News A board meeting is scheduled on February 13, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
GLOBUSSPR
₹865.50
Globus Spirits
7D
-0.7%
1Y
-21.4%
SULA
₹156.49
Sula Vineyards
7D
2.4%
1Y
-44.8%

SULA: Stable Assumptions And Upcoming Results Meeting Will Support Bullish Outlook

Analysts have kept their price target for Sula Vineyards steady at ₹230.50. This reflects unchanged views on fair value, discount rate, assumed revenue growth of 11.16%, profit margin of 15.38% and a future P/E of about 23.58x.
RADICO
₹2,623.20
Radico Khaitan
7D
-4.5%
1Y
10.8%

RADICO: Scotland Subsidiary Plan Will Support Future Upside Potential

Analysts have inched their price target for Radico Khaitan slightly lower from ₹3,563 to about ₹3,553. This reflects updated fair value work that now embeds a marginally lower future P/E assumption while keeping revenue growth, profit margin and discount rate estimates essentially unchanged.
531216
₹6.81
Comfort Intech
7D
-13.7%
1Y
-34.7%
ABDL
₹423.85
Allied Blenders and Distillers
7D
3.8%
1Y
34.6%

ABDL: Uttar Pradesh Distillery Purchase Will Support Expansion And Finance Leadership Transition

Analysts have kept their fair value estimate for Allied Blenders and Distillers steady at ₹696.30 per share, citing unchanged assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Board meeting scheduled on January 29, 2026 at 15:00 IST to review unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025; consider capital contribution or financial assistance; review modification of previously approved capex; approve changes in key managerial and senior management personnel, including the CFO role; and address other business (Key Developments).
VBL
₹403.70
Varun Beverages
7D
0.6%
1Y
-25.9%

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).
530881
₹6.55
Arunjyothi Bio Ventures
7D
4.8%
1Y
-45.8%
526471
₹21.59
Winsome Breweries
7D
2.0%
1Y
-40.2%
541741
₹73.91
Fratelli Vineyards
7D
3.8%
1Y
-62.4%
507155
₹130.90
Jagatjit Industries
7D
5.6%
1Y
-31.9%
SDBL
₹69.52
Som Distilleries & Breweries
7D
-2.6%
1Y
-46.4%
532320
₹9.25
Vaarad Ventures
7D
13.2%
1Y
-25.2%
530305
₹538.50
Piccadily Agro Industries
7D
-0.5%
1Y
-8.2%