Varun Beverages Ltd

540180

Summary

Fair Value Assessment
Overvalued (35% Premium)
Fair ValueQ330.84UncertaintyHigh
Close Price448.15Feb 27, 2025
451.25
Price Up by 3.10 | 0.69 %
Previous Close
448.15
Day Range
440.50 – 456.55
Year Range
439.95 – 682.84
Bid / Ask
450.90 × 451.15
Market Cap
1.5 Tril
Volume / Average
95.6 k / 200.4 k
Beta (5-Year)
1.22
Shares Outstanding
3,381.76 Mil
Primary Exchange
Bombay Stock Exchange

Business Description
Varun Beverages Ltd is engaged in manufacturing, selling, bottling, and distribution of beverages of Pepsi brand in geographically pre-defined territories of India, Sri Lanka, Nepal, Zambia, Morocco, and Zimbabwe. Its brands include Seven-Up, Mountain Dew, Mirinda, Nimbooz, Tropicana Slice, and other related products. The firm generates a majority of its revenue within India.
Contact
Plot No. 31, Institutional Area Sector - 44, RJ Corp House, Gurugram, HR 122 002
T +91 1244643100
www.varunpepsi.com opens in a new tab
Sector
Consumer Defensive
Industry
Beverages - Non-Alcoholic
Most Recent Earnings
Dec 31, 2024
Fiscal Year End
Dec 31, 2024
Employees
13,775

Key Metrics

Income Statement (in Bil, except ratios)
12/31/2024
12/2023
12/2022
12/2021
12/2020
12/2019
Revenue
200.08 156.22 129.21 86.42 64.50 71.30
Revenue Growth %
24.72% 20.90% 49.51% 35.88% -9.53% 39.65%
Gross Profit
111.03 80.71 65.25 45.16 36.11 38.29
Gross Profit Margin %
55.49% 51.66% 50.50% 52.25% 55.99% 53.71%
Operating Income
37.64 31.26 23.09 11.77 7.19 10.72
Operating Margin %
18.81% 20.01% 17.87% 13.62% 11.15% 15.03%
EBIT
38.83 29.82 21.85 11.75 6.25 9.91
EBIT Margin %
19.41% 19.09% 16.91% 13.60% 9.68% 13.90%
EBITDA
48.31 36.63 28.02 17.07 11.53 14.80
EBITDA Margin %
24.15% 23.45% 21.68% 19.75% 17.88% 20.75%
Net Income
25.95 20.56 14.97 6.94 3.29 4.69
Net Profit Margin %
13.17% 13.45% 12.00% 8.63% 5.54% 6.62%
Basic EPS
7.95 6.33 4.61 2.14 1.01 1.50
Diluted EPS
7.94 6.33 4.61 2.14 1.01 1.50
Normalized EPS
16.49 16.32 11.44 3.41 3.68 6.22
Total Dividends per Share
1.00 0.70 0.50 0.33 0.22 0.22
Balance Sheet (in Bil, except ratios)
06/30/2024
12/2023
12/2022
12/2021
12/2020
12/2019
Total Assets
193.80 151.87 116.18 95.82 84.58 83.88
Total Liabilities
106.34 81.03 64.03 53.85 48.70 50.29
Total Debt
67.61 54.31 38.84 33.87 32.41 34.17
Total Equity
87.46 70.85 52.15 41.97 35.89 33.59
Cash And Cash Equivalents
2.12 2.42 1.54 1.51 1.05 1.38
Working Capital
-4.18 0.82 -5.65 -4.74 -6.35 -5.48
Shares Outstanding (Bil)
3.25
Book Value Per Share
49.12 21.33 15.70 12.56 10.85 10.25
Total Debt To Equity
0.77 0.77 0.74 0.81 0.90 1.02
Cash Flow Statement (in Bil, except ratios)
12/31/2024
12/2023
12/2022
12/2021
12/2020
12/2019
Cash From Operating Activities
33.81 23.91 17.90 12.31 10.12 13.05
Cash From Investing Activities
-43.17 -32.90 -17.05 -10.11 -4.71 -23.19
Cash From Financing Activities
29.54 9.85 -0.18 -1.78 -5.74 11.10
Capital Expenditures
37.79 32.64 18.01 9.42 5.60 7.54
Free Cash Flow
-1.93 -4.69 4.03 3.79 2.86 3.36
Change in Cash
20.18 0.86 0.67 0.43 -0.33 0.96

Profile

There is no Key Executive Team data available.
Transaction History

Shares in Thousands
0 5 10 15 20 25 30 35 40
>
No Data Available
There is no available information for this investment.
Sep
2023
    • Buy
    • Acquisition
    • Option Exercise
    • Disposition
    • Sell
Transaction Detail
No Data Available
There is no available information for this investment.

Ownership

Name
% Total
Shares Held
% Total
Assets
Trend
Prev. 8 Qtrs
Change Amount
Change %
Date
Capital Group New Geography Equity Comp 1.28 0.52 43,296,188
2,999,508
7.44%
Dec 31, 2024
American Funds New World A 1.28 0.52 43,296,188
2,999,508
7.44%
Dec 31, 2024
Vanguard Total Intl Stock Index Inv 0.48 0.02 16,375,941
Jan 31, 2025
Vanguard Emerging Mkts Stock Idx Inv 0.44 0.08 14,930,549
Jan 31, 2025
Nippon India Growth Gr 0.35 1.94 11,947,809
-52,191
0.43%
Jan 31, 2025
Total (for Top 5) 3.84 129,846,675
5,946,825

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