Conference Call with Varun Beverages Management and Analysts on Q3CY25 Performance and Outlook. Listen to the full earnings transcript.
Food & Beverages company Varun Beverages announced Q3CY25 results Revenue from operations (net of excise / GST) increased by 1.9% YoY to Rs 48,966.5 million in Q3CY25 as compared to Rs 48,046.8 million in Q3CY24. EBITDA decreased by 0.3% in Q3CY25 to Rs 11,473.8 million from Rs 11,511.2 million in Q3CY24. PAT increased by 18.5% to Rs 7,451.9 million in Q3CY25 from Rs 6,288.3 million in Q3CY24 driven by lower finance cost and higher other income which includes interest on deposits in India and favorable currency movement in the international territories. Ravi Jaipuria, Chairman, Varun Beverages, said: “We have delivered a steady performance during the quarter, with consolidated sales volumes rising by 2.4%, supported by healthy traction in international markets. While domestic volumes remained subdued due to prolonged rainfall across India, international operations grew by 9%. Performance in International territories continued to be healthy, with South Africa delivering another quarter of strong growth. In South Africa, we see significant potential to further strengthen our market position, and we continue to put in place the building blocks to support sustained growth in the region. Our ongoing backward integration initiatives across key locations are driving higher efficiency and operational resilience. Further, in line with our growth strategy, we are incorporating a wholly-owned subsidiary in Kenya under Varun Beverages Limited to carry on the business of manufacturing, distribution and selling of beverages. We are also diversifying our product offerings and certain African subsidiaries of VBL shall test market beer in their territories through an exclusive Distribution Agreement with Carlsberg Breweries A/S for their Carlsberg brand. These developments collectively reflect our continued commitment to broadening our product base and strengthening our presence across key growth markets. Meanwhile, our snacks facility in Morocco has ramped up to full-scale operations, and the upcoming Zimbabwe plant is progressing towards commissioning, marking continued progress in diversifying our portfolio beyond beverages. While the extended monsoon season impacted consumption trends in India, we remain confident in the significant long-term potential of the domestic beverage industry. With low per capita consumption and rising penetration in semi-urban and rural markets, the opportunity for growth continues to be immense. Our ongoing investments in capacity expansion, distribution reach, and cold-chain infrastructure are further strengthening on-ground execution, ensuring we are well-prepared to capture demand recovery in the upcoming season and deliver sustainable growth for all stakeholders.” Result PDF