Varun Beverages Ltd

- No specific mention of current or future fundraising through debt or equity was made in the transcript. - The company has been focusing on a robust capex plan with INR 25,000 million planned for Greenfield expansions primarily funded by internal accruals. - INR 16,000 million of this capex was already spent in CY 2023, indicating strong internal funding capability. - Management highlighted no revision to capex plans and minimal capex for the remainder of CY 2023. - There were no explicit comments about raising fresh debt or equity for funding operations or expansions during the call. - Overall, the firm seems confident in its current financial position and funding of expansion primarily through internal resources and joint ventures.

- INR 25,000 million capex planned for Greenfield expansion in CY2024. - INR 16,000 million of this capex already spent in CY2023, mainly for facilities in Gorakhpur (UP), Supa Partner (Maharashtra), Khorda (Odisha), and DRC (Africa). - Additional brownfield expansions ongoing in India and international markets. - Combined capex for 2023 and 2024 will increase peak month capacity in India by ~45% over 2022. - New greenfield plants at Bundi (Rajasthan) and Jabalpur (MP) already partially capitalized (~INR 8,500 million). - Congo greenfield plant with 35-40 million case capacity coming up, operational post-April-May 2024. - Plans for manufacturing recycled PET underway via JV with Indorama, production expected by 2025. - Focus on preparing capacity ahead of changing seasonality to capture growth in South and West India.

- The company expects continued double-digit volume growth driven by expanded reach and deeper rural penetration supported by improved power supply and increased vis-i cooler presence. - Capacity expansion in India will increase peak month capacity by ~45% over 2022 by next year, supporting volume growth. - New greenfield plants in India (Gorakhpur, Supa Partner, Khorda) and in DRC (Africa) will augment production capacity starting CY2024. - Energy drinks are expected to be a major growth area, with plans to launch additional energy drink products next year. - Value-added dairy segment growth will accelerate once new plants are commissioned starting January, addressing current capacity constraints. - The company aims to improve its average selling price gradually, focusing on profitable growth amid competitive pricing tactics. - International markets are seeing realization improvement through better product mix and go-to-market strategies, supporting top-line growth. - Unseasonal rains impacted recent growth but the company hopes for a normal season to fully utilize expanded capacity.

- The company anticipates continued double-digit volume growth supported by expansion in distribution and product innovation. - Gross margins are expected to maintain around 21%, with slight fluctuations due to PET chip and sugar prices, but no material decline is forecast. - Margin improvement is driven by lower PET prices, increased share of profitable products like Sting energy drink, and better discount management. - Capital expenditure of ~INR 25,000 million in CY2024 for greenfield expansion will increase peak month capacity in India by ~45% over 2022. - New plants are targeted for production commencement before the next season to capture market demand growth. - Value-added dairy and no-sugar product segments are expected to contribute to margin stability and portfolio profitability. - Energy drinks remain a key growth area, with plans to launch additional products in the next year. - Overall, robust volume growth, margin stability, and capacity expansion should support strong growth in earnings and EPS going forward.

The transcript from page 16 of the Varun Beverages investors call does not provide specific details on the current or expected order book or pending orders. The discussion mainly covers: - Capex plans and spending (INR 25,000 million planned, with INR 16,000 million already spent in CY 2023, and the rest expected in Q4 CY 2023 and CY 2024). - Expansion of manufacturing capacity by ~45% over 2022 levels. - Launches and market competition, particularly around energy drinks. - Use of sustainable recycled PET and related margin impact. - No explicit mention of order book status or pending orders. Thus, there is no disclosed information on order books or pending orders in this document.