NSE: VBL | BSE: 540180

Mid-range Performer

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457.90 -3.70 (-0.80%)

32.77% Fall from 52W High

4.3M NSE+BSE Volume

NSE 30 Jun, 2025 1:51 PM (IST)

154,858

Market Cap

Market Leader

0.8

Beta 1Year

Low 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.

Varun Beverages Ltd.

01 Apr 2021

457.90

-0.80%

Equity Investment Strategy: Axis Top Picks (April - 2021)

Buy: Varun Beverages Ltd.

Target

Axis Direct

Based on the above themes we recommend the following stocks: ICICI Bank, SBI, Equitas SFB, Federal Bank, Bharti Airtel, HCL Tech, Tech Mahindra, Varun Beverages, Relaxo Footwears, Amber Enterprises, Camlin Fine Science, Minda Industries, Steel Strip Wheels. Lupin & ACC

Varun Beverages Ltd. has lost -26.65% in the last 6 Months

Varun Beverages Ltd.

17 Feb 2021

457.90

-0.80%

Varun Beverages

Hold: Varun Beverages Ltd.

Target

ICICI Securities Limited

Aggressive volumes push in summer to drive recovery, growth VBL suffered 13.7% volume decline in CY20 due to pandemic induced lockdown at the peak summer season. With the considerable increase in out of home activity & fully operational HORECA channel, VBL looks to push volumes aggressively in CY21 summer season. It has launched convenient SKUs & new products in last two quarters to propel demand for CSD. The company launched lemon fruit juice based drink under Mountain Dew' brand in February 2021. We expect 14.4% CAGR revenue growth during...

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

17 Feb 2021

457.90

-0.80%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

At CMP, stock trades at 12.6x EV/EBITDA which is attractive in our view and we value stock at 15x to arrive at our target price. Retain BUY and TP of Rs. 1085/share.

Number of FII/FPI investors decreased from 1150 to 1086 in Mar 2025 qtr

Varun Beverages Ltd.

16 Feb 2021

457.90

-0.80%

Uptick in consumption to lead to all-round growth

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

Varun Beverages (VBL) reported 9% revenue growth, driven by revival in Carbonated Soft Drink (CSD) volumes and an uptick in international volumes leading to 6% YoY volume growth. Blended realizations improved 2.8% YoY to INR153/unit case, led by a favorable product mix and improved realizations in the international market. 4QCY20 revenue/EBITDA was better than our estimates. We raise our earnings estimate for CY21 by 21% primarily owing to an increase in EBITDA (on the back of higher margins) and a lower tax rate and maintain...

Varun Beverages Ltd. has lost -26.65% in the last 6 Months

Varun Beverages Ltd.

03 Jan 2021

457.90

-0.80%

Varun Beverages (VBL) is engaged in the manufacture, sale, bottling, and distribution of PepsiCo 's b

Buy: Varun Beverages Ltd.

Motilal Oswal

Near monopoly in PepsiCos India business ............................................................ 7 Improving mix in line with long-term strategy ...................................................... 12 More room for growth in soft-drink segment ....................................................... 15 Newly acquired territories to drive growth .......................................................... 19 Beverage Industry ................................................................................................ 21 SWOT analysis ..................................................................................................... 25 Expect EBITDA CAGR of 15% to ~INR22b over CY19-22E ....................................... 25 Valuation and view .............................................................................................. 29...

Varun Beverages Ltd. has lost -29.75% in the last 1 Year

Varun Beverages Ltd.

14 Dec 2020

457.90

-0.80%

Pick of the Week:14 DEC 2020

Buy: Varun Beverages Ltd.

Target

Axis Direct

Varun Beverages Ltd (VBL) is the 2nd largest franchisee for PepsiCo in the world (outside USA). It manufactures Carbonated Soft Drinks - Pepsi, Mountain Dew, Seven Up, Mirinda; Non Carbonated Beverages - Tropicana Slice, Tropicana Frutz; and Bottled water Aquafina.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

12 Nov 2020

457.90

-0.80%

Varun Beverages Ltd: Consumer Staples - Beverages

Hold: Varun Beverages Ltd.

Recommendation

Karvy

Realization and Cost Savings Helped Drive Growth: Volumes continue to be robust in rural and semi urban India, which helped sustain overall volume dip to only 4percent despite significantly lower on the go consumption.

Varun Beverages Ltd. has lost -26.65% in the last 6 Months

Varun Beverages Ltd.

04 Nov 2020

457.90

-0.80%

Varun Beverages

Hold: Varun Beverages Ltd.

Recommendation Target

ICICI Securities Limited

With a sharp fall in PET resin prices & stable sugar price, we expect gross margin expansion of 72 bps in CY21. Moreover, cost rationalisation measure would lead to operating margin expansion of 124 bps in CY21. VBL expects these cost cutting measure to remain permanent. The management has guided 21% operating margin for CY21. Further, we believe juices & CSD contribution would increase, going forward, as the company would be able to generate more margin considering its new Juice plant has already been commissioned. VBL would be re-launching milk based beverages in CY21...

Number of FII/FPI investors decreased from 1150 to 1086 in Mar 2025 qtr

Varun Beverages Ltd.

04 Nov 2020

457.90

-0.80%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Axis Direct

With encouraging revival on MoM basis and healthy growth in International business with season on the anvil, and sustenance of cost optimization benefits we raise our EPS estimates by 4-14% over CY20-22E. At CMP, stock trades at 9.3x EV/EBITDA which is attractive in our view

Varun Beverages Ltd. has lost -29.75% in the last 1 Year

Varun Beverages Ltd.

07 Aug 2020

457.90

-0.80%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

Although Varun Beverages Limited (VBL) performance in Q2CY20 was below our estimates on topline/bottomline the commentary on demand recovery and market share gains was positive. Sales volumes in June '20 was +75% YoY with July much better than June.

Number of FII/FPI investors decreased from 1150 to 1086 in Mar 2025 qtr

Is Varun Beverages Ltd. worth buying?

1534 Votes:

Buy 77.97%

Sell 10.63%

Hold 11.41%

RESEARCH REPORTS

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