₹463.35
▼ -3.22 -0.69%
18 Jul 2026
NSE Listed · FMCG
Varun Beverages Limited (VBL)
Volume: 27,97,591Avg Vol 1W: 27,98,446Avg Vol 1M: 33,06,08852W Range:₹381₹555.8
Key Ratios
Checked just nowMarket Cap₹1,56,727 Cr
Current Price₹463.35
Previous Close₹466.57
High / Low (52w)₹555.8 / ₹381
Volume27,97,591
Avg Vol (1W)27,98,446
Avg Vol (1M)33,06,088
Stock P/E179.59
Book Value₹57.88
Dividend Yield32%
ROE15.51%
ROA12.55%
Revenue (TTM)—
Revenue Growth8.39%
Profit Margin13.68%
Total Debt₹540 Cr
Shares Outstanding338 Cr
Face Value₹2
EPS (TTM)₹9.41
P/B8.01
Debt / Equity0.15
50 DMA₹501.67
200 DMA₹477.59
Day change-0.69%
Price Chart
₹463.35▲ 3.87% · 1Y
2025-11-242026-07-17
20-day avg volume: 34.0L shares
Pros
- Healthy return on equity of 15.5%.
- Pays a dividend yield of 32.0%.
- Company is almost debt-free.
- Net profit is growing year over year.
Cons
- Stock trades at a high P/E of 180.
Quarterly Results
| Metric | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹7,197 Cr | ₹4,805 Cr | ₹3,689 Cr | ₹5,567 Cr | ₹7,017 Cr | ₹4,897 Cr | ₹4,204 Cr | ₹6,574 Cr |
| EBITDA | ₹1,793 Cr | ₹919 Cr | ₹364 Cr | ₹1,020 Cr | ₹1,770 Cr | ₹988 Cr | ₹408 Cr | ₹1,216 Cr |
| Net Profit | ₹1,253 Cr | ₹620 Cr | ₹185 Cr | ₹726 Cr | ₹1,317 Cr | ₹741 Cr | ₹252 Cr | ₹872 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹5,127 Cr | ₹7,172 Cr | ₹6,487 Cr | ₹8,891 Cr | ₹13,212 Cr | ₹16,122 Cr | ₹20,129 Cr | ₹22,038 Cr |
| EBITDA | ₹643 Cr | ₹1,002 Cr | ₹710 Cr | ₹1,191 Cr | ₹2,210 Cr | ₹3,008 Cr | ₹3,885 Cr | ₹4,185 Cr |
| Net Profit | ₹293 Cr | ₹469 Cr | ₹329 Cr | ₹694 Cr | ₹1,497 Cr | ₹2,056 Cr | ₹2,595 Cr | ₹3,036 Cr |
| EPS | 10.69 | 16.83 | 11.4 | 10.69 | 11.52 | 15.82 | 7.94 | 8.98 |
Balance Sheet
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹6,031 Cr | ₹8,388 Cr | ₹8,458 Cr | ₹9,582 Cr | ₹11,618 Cr | ₹15,187 Cr | ₹23,144 Cr | ₹25,565 Cr |
| Total Liabilities | ₹4,025 Cr | ₹5,029 Cr | ₹4,870 Cr | ₹5,385 Cr | ₹6,403 Cr | ₹8,103 Cr | ₹6,404 Cr | ₹5,824 Cr |
| Equity | ₹2,006 Cr | ₹3,359 Cr | ₹3,589 Cr | ₹4,197 Cr | ₹5,215 Cr | ₹7,085 Cr | ₹16,740 Cr | ₹19,741 Cr |
| Total Debt | — | — | — | — | — | — | — | — |
Cash Flow
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating | ₹1,073 Cr | ₹1,428 Cr | ₹1,090 Cr | ₹1,356 Cr | ₹2,163 Cr | ₹3,059 Cr | ₹4,109 Cr | ₹4,397 Cr |
| Investing | ₹-873 Cr | ₹-2,319 Cr | ₹-471 Cr | ₹-1,011 Cr | ₹-1,705 Cr | ₹-3,290 Cr | ₹-4,317 Cr | ₹-2,735 Cr |
| Financing | ₹-84 Cr | ₹1,107 Cr | ₹-574 Cr | ₹-178 Cr | ₹-18 Cr | ₹985 Cr | ₹2,954 Cr | ₹-1,266 Cr |
| Free Cash Flow | ₹1,073 Cr | ₹1,428 Cr | ₹1,090 Cr | ₹1,356 Cr | ₹2,163 Cr | ₹3,059 Cr | ₹4,109 Cr | ₹4,397 Cr |
Shareholding
Promoter 59.43% Institutions 34.24% Public 6.33%
Efficiency & Working Capital
ROCE18.9%
Interest Coverage21.5
Dividend Payout—
Debtor Days21 d
Inventory Days48 d
Payable Days23 d
Cash Conversion Cycle46 d
Working Capital Days69 d
Shareholding Details
As of 2026-06-30
Promoter59.4%
FII19%
DII15.2%
Institutions34.2%
Public6.3%
Promoter Pledge0%
No. of Shareholders8,13,548
Shareholding Pattern
Quarterly — figures in %. Latest 12 quarters.
| Period | Mar 2024 | Jun 2024 | Sept 2024 | Nov 2024 | Nov 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 62.9% | 62.7% | 62.7% | 60.2% | 60.2% | 60.2% | 60.2% | 59.8% | 59.4% | 59.4% | 59.4% | 59.4% |
| FIIs | 25.8% | 25.3% | 24.2% | 25.2% | 25.2% | 25.3% | 23% | 21.9% | 21.9% | 20.3% | 19.5% | 19% |
| DIIs | 4.2% | 4.5% | 5% | 6.5% | 6.5% | 7% | 9.2% | 10.5% | 11.8% | 13.6% | 14.4% | 15.2% |
| Public | 7.2% | 7.5% | 8.2% | 8.1% | 8.1% | 7.5% | 7.6% | 7.8% | 6.8% | 6.7% | 6.7% | 6.3% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 4,89,887 | 5,09,607 | 6,98,759 | 7,72,415 | 7,72,415 | 7,42,488 | 8,73,915 | 9,68,419 | 9,02,881 | 8,72,933 | 8,77,604 | 8,13,548 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202512 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Rj Corp Limited | Shareholding of Promoter and Promoter Group | 25.3% | 85.50 Cr |
| Ravi Kant Jaipuria | Shareholding of Promoter and Promoter Group | 16.7% | 56.51 Cr |
| Varun Jaipuria | Shareholding of Promoter and Promoter Group | 15.4% | 52.19 Cr |
| Lici New Pension Plus Growth Fund | Public Shareholding | 2.3% | 7.82 Cr |
| Devyani Jaipuria | Shareholding of Promoter and Promoter Group | 1.9% | 6.58 Cr |
| Government Pension Fund Global | Public Shareholding | 1.8% | 6.18 Cr |
| Nippon Life India Trustee Ltd.-a/c Nippon India Ac | Public Shareholding | 1.6% | 5.26 Cr |
| Sbi Arbitrage Opportunities Fund | Public Shareholding | 1.4% | 4.73 Cr |
| Nps Trust - A/c Sbi Pension Fund Scheme - Nps Tier | Public Shareholding | 1.2% | 3.91 Cr |
| Vivek Gupta | Shareholding of Promoter and Promoter Group | 0.1% | 23,26,500 |
| Dhara Jaipuria | Shareholding of Promoter and Promoter Group | 0% | 33,995 |
| Vivek Gupta (huf) | Shareholding of Promoter and Promoter Group | 0% | 33,750 |
| Madhav Hansraj Mariwala (huf) | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Madhav H Mariwala | Shareholding of Promoter and Promoter Group | 0% | 11,710 |
| Nandini Madhav Mariwala | Shareholding of Promoter and Promoter Group | 0% | 1,250 |
| Bela Jyotikumar Saha | Shareholding of Promoter and Promoter Group | 0% | 2,500 |
| Madhu Rajendra Jindal | Shareholding of Promoter and Promoter Group | 0% | 132 |
| Aishwarya M Mariwala | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Kimaya Jaipuria | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Sft Technologies Private Limited | Shareholding of Promoter and Promoter Group | 0% | 18,609 |
| Lotus Holdings | Shareholding of Promoter and Promoter Group | 0% | 18,850 |
| Marison Finvest Private Limited | Shareholding of Promoter and Promoter Group | 0% | 2,185 |
| Devyani Jaipuria Sports Academy Private Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Cryoviva Life Sciences Private Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Sft Syscon Private Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Ravi Kant Jaipuria | 0 | 0% | 2026-06-30 |
| Varun Jaipuria | 0 | 0% | 2026-06-30 |
| Devyani Jaipuria | 0 | 0% | 2026-06-30 |
| Vivek Gupta | 0 | 0% | 2026-06-30 |
| Dhara Jaipuria | 0 | 0% | 2026-06-30 |
| Vivek Gupta (huf) | 0 | 0% | 2026-06-30 |
| Madhav Hansraj Mariwala (huf) | 0 | 0% | 2026-06-30 |
| Madhav H Mariwala | 310 | 2.7% | 2026-06-30 |
| Nandini Madhav Mariwala | 0 | 0% | 2026-06-30 |
| Bela Jyotikumar Saha | 0 | 0% | 2026-06-30 |
| Madhu Rajendra Jindal | 0 | 0% | 2026-06-30 |
| Aishwarya M Mariwala | 0 | 0% | 2026-06-30 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| RAVI KANT JAIPURIA | Chairman & Non Executive Dir. | 2025 |
| Varun Jaipuria | Vice Chairman & Executive Dire | 2025 |
| RAJ PAL GANDHI | E D & Wholetime Director | 2025 |
| Rajinder Jeet Singh Bagga | E D & Wholetime Director | 2025 |
| Naresh Kumar Trehan | Non-Exec & Non-Independent Dir | 2025 |
| RAVI GUPTA | Independent Non Exe. Director | 2025 |
| Rashmi Dhariwal | Independent Non Exe. Director | 2025 |
| Sita Khosla | Independent Non Exe. Director | 2025 |
| Abhiram Seth | Independent Non Exe. Director | 2025 |
| Anil Kumar Sondhi | Independent Non Exe. Director | 2025 |
| Ravi Batra | Company Secretary / Chief Risk Officer | 2025 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Manufacturing and sale of beverages | ₹0 Cr | — |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2025 | ₹2 | 1,000 | 676 | 676 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| dividend | 2026-04-30 | ₹0.5 (25%) | Interim |
| dividend | 2026-04-08 | ₹0.5 (25%) | Final |
| dividend | 2025-08-01 | ₹0.5 (25%) | Interim 2 |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 4,067 | 0 | 100 | 192 | 138 | 4,652 |
| 2025 | 3,369 | 0 | 90 | 1 | 62 | 3,521 |
| 2025 | 495 | 0 | 10 | 165 | 39 | 864 |
Insider / Designated-Person Trades
1 recent disclosure(s)
Ravindra Dhariwal Trustee of Varun Beverages Limited û Bonus Issue Fractional Shares TrustDisposal · 16,857
Company Information
Incorporated1995
ChairmanRAVI KANT JAIPURIA
AuditorJ C Bhalla & Co/O P Bagla & Co LLP
Investor Email[email protected]
📍 F-2/7 Okhla Industrial Area, Phase-I, New Delhi, New Delhi, 110020
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