NSE: VBL | BSE: 540180

Mid-range Performer

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416.50 6.00 (1.46%)

25.06% Fall from 52W High

10.5M NSE+BSE Volume

NSE 11 Sep, 2026 3:31 PM (IST)

140,879.7

Market Cap

Market Leader

Beta 1Year

High Volatility

Acquisition Talks

Varun Beverages' unit is reportedly in talks to buy Alcobrew for ~Rs 2,500 cr to speed alcohol push See details

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.

29 Jul 2026

416.50

1.46%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

With a 23% upside potential from the CMP, we maintain our BUY rating on the stock.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

29 Jul 2026

416.50

1.46%

Volume Flywheel Intact; Africa Optionality Adds a New Growth Vector

Buy: Varun Beverages Ltd.

Recommendation

Deven Choksey

We remain constructive on VBL's long-term growth trajectory, underpinned by India's structurally under-penetrated beverage market, continued capacity expansion, and a resilient franchise with PepsiCo extending through 2049.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

29 Jul 2026

416.50

1.46%

Medium-term fizz may fade

Hold: Varun Beverages Ltd.

Target

ICICI Securities Limited

VBL reported healthy Q2CY26 volume (India volume grew ~14%) and revenue growth, supported by demand momentum.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

28 Jul 2026

416.50

1.46%

Varun Beverages Result Update Q2CY26

Buy: Varun Beverages Ltd.

Aditya Birla Money Limited

Varun Beverages (VBL IN) delivered a healthy Q2, with strong reported volume growth across India and international markets, partly offset by Twizza led EBITDA margin dilution. India volumes grew 14.4% YoY, with demand improving from March onwards and momentum sustaining into July. However, a modest two-year volume CAGR and slight correction in India realization point to rising competitive intensity. International volumes grew 38.4% YoY, led by midtwenties organic growth and Twizza contribution, reinforcing its role as a key growth driver. Gross margin expanded but EBITDA margin declined 76bps YoY to 27.7% due to lower margin Twizza consolidation. Calpis launch in India...

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

28 Jul 2026

416.50

1.46%

Healthy volume growth drives performance

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

Varun Beverages (VBL) posted a healthy quarter with ~20% YoY volume growth, led by ~14% in India and ~38% in international geography. Further, net realization per case improved 1.2% at the consolidated level, fueled by realization growth in international territories.

Varun Beverages Ltd. has an average target of 533.07 from 8 brokers.

Varun Beverages Ltd.

09 May 2026

416.50

1.46%

Pick of the Week:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

We recommend a BUY with a target price of Rs 560/share, implying an upside of 10% from the CMP.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

29 Apr 2026

416.50

1.46%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

With a 22% upside potential from the CMP, we maintain our BUY rating on the stock.

Varun Beverages Ltd. has an average target of 533.07 from 8 brokers.

Varun Beverages Ltd.

28 Apr 2026

416.50

1.46%

Topline outperformance and resilient bottom-line vs peers

Buy: Varun Beverages Ltd.

Target

Emkay

We maintain BUY on VBL, while hoisting our TP by ~15% to Rs620 (from Rs540) on 5-6% EPS increase led by PAT beat of 11% and addition of Twizza.

Number of FII/FPI investors increased from 953 to 1003 in Jun 2026 qtr.

Varun Beverages Ltd.

28 Apr 2026

416.50

1.46%

Scale-driven growth; pricing yet to catch up

Hold: Varun Beverages Ltd.

ICICI Securities Limited

VBL reported a strong Q1CY26 result with broad-based, volume-led growth (16.3% YoY), supported by healthy traction across India and international markets. India realisation declined (-1.5%), reflecting limited pricing power and continued reliance on penetration-led initiatives.

Number of FII/FPI investors increased from 953 to 1003 in Jun 2026 qtr.

Varun Beverages Ltd.

28 Apr 2026

416.50

1.46%

Result Update – Q4FY26

Hold: Varun Beverages Ltd.

Recommendation Target

Deven Choksey

The demand outlook for VBL remains constructive. India’s per capita soft drink consumption is among the lowest globally, and VBL’s dual strategy of deepening retail
penetration (via visi-coolers and distribution expansion) and broadening the consumer funnel (via affordable price-point launches) should sustain double-digit volume growth through CY2026. The international portfolio now spanning 10 franchise countries with distribution in 4 more provides diversification and a structural growth vector, particularly in underpenetrated African markets.

Number of FII/FPI investors increased from 953 to 1003 in Jun 2026 qtr.

Is Varun Beverages Ltd. worth buying?

1716 Votes:

Buy 78.09%

Sell 10.49%

Hold 11.42%

RESEARCH REPORTS

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Buy SEE REPORTS >

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