NSE: VBL | BSE: 540180

Expensive Performer

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489.85 5.40 (1.11%)

26.18% Fall from 52W High

5.2M NSE+BSE Volume

NSE 31 Dec, 2025 3:31 PM (IST)

165,666.7

Market Cap

Market Leader

Beta 1Year

Average volatility

Varun Beverages Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for VBL, BSE:540180 Varun Beverages Ltd.

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Varun Beverages Ltd.

22 Dec 2025

489.85

1.11%

Twizza acquisition – Synergies to further build momentum in SA

Buy: Varun Beverages Ltd.

Target

Emkay

VBL has acquired 100% stake in Twizza (Pty), which manufactures and distributes own branded NARTD beverages in South Africa. With this acquisition, VBL’s volume market share is set to increase to ~20% in the geography by CY27E (vs ~10% now).

Number of FII/FPI investors decreased from 1069 to 990 in Sep 2025 qtr

Varun Beverages Ltd.

27 Nov 2025

489.85

1.11%

Valuation Rationale

Accumulate: Varun Beverages Ltd.

NDA Securities

We expect valuation multiples to remain firm in the near term, supported by VBL’s market leadership, strong profitability profile, and visibility on double-digit earnings growth.

Varun Beverages Ltd. is trading above all available SMAs

Varun Beverages Ltd.

30 Oct 2025, 12:00AM

489.85

1.11%

Indian volumes stood impacted by prolonged rainfall; medium-term outlook remains constructive

Buy: Varun Beverages Ltd.

Target

Deven Choksey

Management remains optimistic about sustaining growth momentum, supported by robust international performance and a recovery in domestic demand as weather conditions normalize.

Emkay decreased Buy price target of Varun Beverages Ltd. to 615.0 on 22 Dec, 2025.

Varun Beverages Ltd.

30 Oct 2025, 12:00AM

489.85

1.11%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

With a 14% upside potential from the CMP, we maintain our BUY rating on the stock.

Emkay decreased Buy price target of Varun Beverages Ltd. to 615.0 on 22 Dec, 2025.

Varun Beverages Ltd.

29 Oct 2025

489.85

1.11%

Muted performance led by prolonged monsoon season

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

3QCY25 was a muted quarter for Varun Beverages (VBL) as its revenue grew only ~2% YoY due to prolonged monsoon across India.

Varun Beverages Ltd. has an average target of 588.42 from 11 brokers.

Varun Beverages Ltd.

18 Aug 2025

489.85

1.11%

VARUN BEVERAGES LIMITED

Hold: Varun Beverages Ltd.

Target

Geojit BNP Paribas

International markets grew 15.1% YoY, led by 16.1% YoY growth in South Africa, on strong currency movement and commissioning of new can line in Durban. EBITDA grew 0.4% YoY to Rs. 1,999cr and margin expanded 75bps YoY to 27.9%, on newer, high-efficiency lines and strong currency in international operations. The company delivered a resilient performance driven by robust execution, *over or under performance to benchmark index expanded distribution and operational ramp-up of new plants. The management is focused on strategic international expansion, backward integration, snack...

Number of FII/FPI investors decreased from 1069 to 990 in Sep 2025 qtr

Varun Beverages Ltd.

13 Aug 2025

489.85

1.11%

Q2-CY25 Result Update

Buy: Varun Beverages Ltd.

Anand Rathi

Revenue from operations net of excise and GST stood at the level of Rs. 70,174 million in Q2 CY2025, down 2.5% YoY. For H1 CY25, revenue grew by 9.3% to Rs. 125,843 million.

Varun Beverages Ltd. has an average target of 588.42 from 11 brokers.

Varun Beverages Ltd.

05 Aug 2025

489.85

1.11%

Indian volumes stood impacted by erratic rain patters; medium-term outlook remains constructive

Buy: Varun Beverages Ltd.

Deven Choksey

In Q2CY25, consolidated revenue stood at INR 70,174 Mn., down 2.5% YoY (+26.1% QoQ), sharply below our estimates, as the overall volumes were impacted by early onset of monsoons and erratic rain patterns in India.

Varun Beverages Ltd. has an average target of 588.42 from 11 brokers.

Varun Beverages Ltd.

30 Jul 2025, 12:00AM

489.85

1.11%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

With a 15% upside potential from the CMP, we maintain our BUY rating on the stock.

Emkay decreased Buy price target of Varun Beverages Ltd. to 615.0 on 22 Dec, 2025.

Varun Beverages Ltd.

30 Jul 2025, 12:00AM

489.85

1.11%

Unseasonal rain impacted volume; Profitability improved on efficiencies

Hold: Varun Beverages Ltd.

Target

ICICI Securities Limited

Despite rising competitive intensity and lower volumes, Varun Beverages (VBL) delivered better-than-expected Q2CY25 profitability due to better control on overheads and favourable currency movement in the Africa market.

Number of FII/FPI investors decreased from 1069 to 990 in Sep 2025 qtr

Is Varun Beverages Ltd. worth buying?

1663 Votes:

Buy 77.81%

Sell 10.64%

Hold 11.55%

RESEARCH REPORTS

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