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Informist, Tuesday, Feb. 3, 2026

 

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--Varun Beverages Oct-Dec consol net profit INR 2.52 bln 
--Analysts saw Varun Beverages Oct-Dec consol net profit at INR 2.63 bln 
--Varun Beverages Oct-Dec consol revenue INR 43.35 bln 
--Analysts saw Varun Beverages Oct-Dec consol revenue at INR 39.91 bln 
--Varun Beverages Oct-Dec consol PAT INR 2.52 bln vs INR 1.85 bln year ago 
--Varun Beverages Oct-Dec consol revenue INR 43.35 bln vs INR 38.18 bln 
--Varun Beverages 2025 consol PAT INR 30.36 bln vs INR 25.95 bln year ago 
--Varun Beverages 2025 consol revenue INR 222.26 bln vs INR 204.81 bln 
--Varun Beverages to pay INR 0.50 per share final dividend 
--Varun Beverages shares at INR 485.95, up INR 19.65 or 4.2% vs 2.1?rlier 
--Varun Beverages Oct-Dec consol EBITDA INR 6.39 bln vs INR 5.80 bln 
--Varun Beverages Q4 consol sales volume 237 mln cases vs 215 mln cases yr ago 
--Varun Beverages Oct-Dec consol net realisation INR 177.3 per case, up 3.4% 
--Varun Beverages: India Oct-Dec sales volume up 10.5% on year 
--Varun Beverages: Oct-Dec international sales volume up 10% on year

 

By Akshat Saksena and Shumaila Firoz

 

MUMBAI – Varun Beverages Ltd. Tuesday reported a significant rise in its net profit for the December quarter, with the year on year growth at its highest level in four quarters. Sequentially, however, the bottom line fell sharply and could not match up to Street's expectations. The company's revenue rose at its fastest level on a yearly basis in three quarters and also beat analysts' estimates.

 

The company's consolidated net profit surged 36% on year to INR 2.52 billion for the three months ended December. However, the bottom line fell a staggering 66% sequentially. Analysts' expectations for the metric were INR 2.63 billion. The consolidated revenue for the quarter rose nearly 14% on year to INR 43.35 billion but fell over 14% sequentially. On this front, the company was able to beat analysts' estimate of INR 39.91 billion.

 

The company's total expenses for the quarter rose nearly 13% on year to INR 40.72 billion but fell over 4% on quarter. The on-year rise in total expenses was because of a near 13% rise in cost of materials to INR 19.22 billion along with an over 9% rise in other expenses to INR 11.03 billion. The cost of materials and other expenses accounted for over 74% of the company's total expenses for the reporting quarter. The company--one of the largest global franchisees of PepsiCo--reported earnings before interest, tax, depreciation, and amortisation of INR 6.39 billion, up 10% on year.

 

The company's consolidated sales volume grew by over 10% on year to 237.10 million cases. The sales volumes in India grew 10.5% and that in international markets grew by 10%. The sales volumes improved meaningfully during the December quarter, after being impacted during the year because of unprecedented heavy rainfall, Varun Beverages Chairman Ravi Jaipuria said. The company's net realisation per case rose 3.4% to INR 177.30 for the reporting quarter. Carbonated soft drinks accounted 72% of the company's sales volumes for the quarter. Water and non-carbonated soft drinks accounted for 24% and 4%, respectively.

 

The growth in the company's international volumes was led by a healthy growth in South Africa aided by the expansion in general trade reach, addition of visi-coolers and continued progress on backward integration and capacity enhancement, strengthening supply chain efficiency and cost competitiveness, Jaipuria said. 

 

In an investor presentation, Varun Beverages said the net capitalised capital expenditure in 2025 amounted to INR 45 billion, of which the company spent INR 16.50 billion in 2024. Of the total capital expenditure, it spent INR 17 billion to set up four greenfield facilities in Prayagraj in Uttar Pradesh, Buxar in Bihar, Damtal in Himachal Pradesh, and Mendipathar in Meghalaya. The company spent INR 3 billion on brownfield expansion in Sricity in Andhra Pradesh and Gorakhpur in Uttar Pradesh.

 

The company spent INR 13 billion on international operations, including on a polyethylene terephthalate line for carbonated soft drinks and on backward integration, a snacks manufacturing plant in Morocco and Zimbabwe, and a canning line in South Africa. The remaining capital expenditure was towards visi-coolers, glass bottles, pallets, vehicles, write-offs and foreign exchange-related adjustments, the company said.

 

For the financial year 2025, the company's consolidated net profit was INR 30.36 billion, up from INR 25.95 billion a year ago. Revenue from operations for the year was INR 222.26 billion, up from INR 204.81 billion. The company's depreciation cost for 2025 increased by 28.4% on account of new plants in India, as well as brownfield expansion in the international markets.

 

The company announced its results during market hours. On Tuesday, shares of the company ended more than 3% lower at INR 451.10.  End 

 

Edited by Ashish Shirke

 

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