NSE: VBL | BSE: 540180

Mid-range Performer

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490.40 10.30 (2.15%)

28.00% Fall from 52W High

11.2M NSE+BSE Volume

NSE 17 Jul, 2025 12:21 PM (IST)

165,849.2

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.

06 Nov 2023

490.40

2.15%

Volume growth and higher realization drive sales

Buy: Varun Beverages Ltd.

Motilal Oswal

Promoters released all pledges in Jun 2025 qtr.

Varun Beverages Ltd.

07 Aug 2023

490.40

2.15%

Strong growth trajectory, led by softening in Raw material prices

Buy: Varun Beverages Ltd.

Bonanza

Varun Beverages maintains its growth trajectory and shows strong signs of sustained profitability. VBL delivered a robust performance with growth in Revenue by 13.3% and EBITDA by 23.2% YoY. The softening in key raw material prices further catalysed the Gross margin expansion by 196bps to 52.5% (primarily due to softening of PET chips prices) and EBITDA margins expansion by 210bps to 26.9% (driven by higher gross margins and operational efficiencies) in Q2CY23.

Number of FII/FPI investors decreased from 1086 to 1069 in Jun 2025 qtr

Varun Beverages Ltd.

04 Aug 2023

490.40

2.15%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Axis Direct

With a 13% upside potential from the CMP, we maintain our BUY rating on the stock

Varun Beverages Ltd. is trading below its 100 day SMA of 494.4

Varun Beverages Ltd.

03 Aug 2023

490.40

2.15%

Varun Beverages Limited

Buy: Varun Beverages Ltd.

Keynote Capitals Ltd

Quarterly Update Q2 CY23

Varun Beverages Ltd. is trading below its 100 day SMA of 494.4

Varun Beverages Ltd.

03 Aug 2023

490.40

2.15%

Possibility of entry in South Africa; key event to watch for in next 12-18 months

Hold: Varun Beverages Ltd.

ICICI Securities Limited

While unseasonal rains in North India impacted the off-take in Q2CY23, we note three highlights as (1) the company has reported 5% volume growth, (2) EBITDA margin expanded due to correction in input prices and we believe there is further scope for margin expansion with operating leverage and (3) the company has floated a new subsidiary to evaluate growth opportunities in South Africa.

Varun Beverages Ltd. has an average target of 620.25 from 8 brokers.

Varun Beverages Ltd.

04 May 2023

490.40

2.15%

“Robust growth led by strong demand and improved product mix”

Buy: Varun Beverages Ltd.

Bonanza

Varun Beverages has given an outstanding performance yet again, led by robust Volume and Revenue growth of 24.7% / 37.7% respectively driven by improved product mix (Higher contribution by Sting and Milk based beverages) and strong demand across regions despite the weather disruptions in March, supporting overall revenue growth.

Varun Beverages Ltd. is trading below its 100 day SMA of 494.4

Varun Beverages Ltd.

03 May 2023

490.40

2.15%

Varun Beverages

Hold: Varun Beverages Ltd.

Target

ICICI Direct

Number of FII/FPI investors decreased from 1086 to 1069 in Jun 2025 qtr

Varun Beverages Ltd.

03 May 2023

490.40

2.15%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

We incorporate CY25 estimates and based on the above thesis, we expect the company to post Revenue/EBITDA/PAT growth of 18%/21%/25% CAGR over CY22-25E. We maintain our BUY rating on the stock with the revised TP of Rs 1,600/share (vs. TP of Rs 1,500/share) earlier.

Promoters released all pledges in Jun 2025 qtr.

Varun Beverages Ltd.

03 May 2023

490.40

2.15%

Ninth straight quarter of 25%+ revenue growth; likely market share gain

Hold: Varun Beverages Ltd.

Target

ICICI Securities Limited

Considering the market growth, we believe Varun has likely gained market shares across segments in Q1CY23. The company has added multiple growth engines such as (1) launch of Sting (~10% of net sales), (2) launch of dairy products (higher realizations and similar margins).