Varun Beverages Ltd
Varun Beverages Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
Consolidated sales volume grew 23.2% in CY2024; organic volume growth in India was 11.4%, international organic growth 6.3%. Varun Beverages expects sustained double-digit volume growth in India and international markets, driven by expanded distribution and new territories.
From Varun Beverages Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Consolidated sales volume grew 23.2% in CY2024; organic volume growth in India was 11.4%, international organic growth 6.3%.
- Expectation to sustain double digit growth in India and internationally, driven by deeper market penetration and capacity expansion.
- South Africa operations grew 12.5% in the first year; focused on shifting from modern trade to general trade with better margins and distribution.
- New Greenfield plants in India and DRC coming up to support manufacturing and distribution capacity.
- Expanding reach from current 4 million outlets toward 8-10 million outlets in India, adding 8%-10% more outlets annually.
- Continued investment in new product launches like Sting Gold and exploration of new beverage flavors to expand energy drink market.
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Profitability & Margins
See what Varun Beverages Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Net CAPEX stood at Rs. 45,000 million at end of CY2024; Rs. 24,000 million spent in 2023.
- Rs. 32,000 million allocated to four Greenfield facilities in Supa, Gorakhpur, Khorda, and DRC.
- Additional Rs. 8,000 million invested in international Brownfield expansion (Nepal, Morocco, Zimbabwe) including backward integration in Morocco, Zambia, Zimbabwe.
- CAPEX for CY2025 projected at Rs. 31,000 million.
- As of December 31, 2024, Rs. 16,500 million spent on CWIP and capital advances toward Greenfield sites in Prayagraj, Damtal (HP), Buxar, Meghalaya.
- Remaining CY2025 CAPEX includes snack manufacturing, Brownfield expansion in India (Sricity), rPET facilities in India, and further expansion in DRC.
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Top-ranked in Beverages
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Varun Beverages Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹6.6K Cr, net profit ₹879 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Varun Beverages's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Varun Beverages Ltd Q3 FY25 results?
Consolidated sales volume grew 23.2% in CY2024; organic volume growth in India was 11.4%, international organic growth 6.3%. Varun Beverages expects sustained double-digit volume growth in India and international markets, driven by expanded distribution and new territories.
What is Varun Beverages Ltd share price analysis?
Varun Beverages Ltd currently shows a neutral. The stock trades at a P/E of 43.5 with a market cap of ₹147,137 Cr. Investors should review the full earnings analysis for detailed insights.
Is Varun Beverages Ltd planning capital expenditure?
Net CAPEX stood at Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.