NSE: VBL | BSE: 540180

Mid-range Performer

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464.70 6.55 (1.43%)

31.77% Fall from 52W High

5.6M NSE+BSE Volume

NSE 09 Jul, 2025 10:33 AM (IST)

157,157.7

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.

04 Mar 2022

464.70

1.43%

Underpenetrated market paving the way for growth

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

VBL has a diversified growth strategy, with multiple levers in place to drive its long-term growth. We expect volume growth momentum to continue, with: a) a gradual gain in market share on increasing penetration in underpenetrated markets, b) higher acceptance of recently launched products, and c) ramp-up of...

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

Varun Beverages Ltd.

03 Mar 2022

464.70

1.43%

Entry in foods business: A DCF accretive move

Accumulate: Varun Beverages Ltd.

Target

ICICI Securities Limited

Varun will start contract manufacturing for Pepsi’s snack brand Kurkure Puffcorn and we believe it is a step in right direction. Depending on the Varun’s progress in Kurkure Puffcorn business, we expect Pepsi to offer more products and regions to Varun. As of now Varun will set up a plant in Uttar Pradesh for Rs200-250mn and will produce Kurkure Puffcorn.

Varun Beverages Ltd. has lost -23.44% in the last 6 Months

Varun Beverages Ltd.

05 Feb 2022

464.70

1.43%

Varun Beverages

Hold: Varun Beverages Ltd.

Target

ICICI Securities Limited

About the stock: Varun Beverages is one of the largest franchisee of PepsiCo in the The company has operations in India (except Andhra Pradesh, J&K & Ladakh), Sri-Lanka, Nepal, Morocco, Zambia & Zimbabwe...

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

04 Feb 2022

464.70

1.43%

Result Update:Varun Beverages

Varun Beverages Ltd.

Axis Direct

We factor these in our estimates for CY22/23E leading to a revised TP of Rs. 1,080 (Rs. 1,050 earlier) valuing it at 19x EV/EBITDA. Maintain BUY.

Varun Beverages Ltd. has an average target of 622.33 from 9 brokers.

Varun Beverages Ltd.

04 Jan 2022

464.70

1.43%

Likely limited impact of lockdown (if any)

Accumulate: Varun Beverages Ltd.

Recommendation Target

ICICI Securities Limited

Based on our channel checks, we believe Varun Beverages is likely to maintain strong double-digit volume growth, in line with earlier quarters. It has not yet raised prices of its products in spite of inflation in key raw materials such as sugar and PET (packaging material). It plans to focus on Eastern states and is on track to set up a new plant in Bihar. We also believe lockdown (if any) would likely have a negligible impact on the company’s sales as the lockdown is likely to be in Q1CY22 (non-season).

Varun Beverages Ltd. has lost -27.27% in the last 1 Year

Varun Beverages Ltd.

30 Nov 2021

464.70

1.43%

Margin stable despite rising input cost

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

VBL posted robust volume growth, supported by growing out-of-home' consumption. The company reported a stable operating performance, despite rising input cost, due to an improvement in realization, benefitting from operating leverage and passing-on of RM prices. We maintain our earnings estimate for CY22E/CY23E, as the growth trajectory is expected to continue with the opening of business operations and traveling activities, coupled with strong support from newly launched products. We maintain our Buy rating with a TP of INR1,210 per share....

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

Varun Beverages Ltd.

02 Nov 2021

464.70

1.43%

Result Update:Varun Beverages

Varun Beverages Ltd.

Axis Direct

Maintain BUY, with an upward revision in TP to Rs. 1,050 (earlier Rs. 1,020) and continue to value the stock at 18x EV/EBITDA CY23E.

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

Varun Beverages Ltd.

30 Oct 2021

464.70

1.43%

Varun Beverages

Buy: Varun Beverages Ltd.

Target

ICICI Securities Limited

globally. The company produces & distributes carbonated drinks, juices & packaged drinking water in six countries including India. Some of the PepsiCo brands produced by VBL include Pepsi, Diet Pepsi, Seven-Up, Mirinda, Mountain Dew, Nimbooz, String, Slice, Tropicana, Aquafina among others. The company has operations in India (except Andhra Pradesh, J&K; and Ladakh), Sri Lanka, Nepal, Morocco, Zambia and Zimbabwe...

Varun Beverages Ltd. has lost -27.27% in the last 1 Year

Varun Beverages Ltd.

28 Sep 2021

464.70

1.43%

To sizzle on greater penetration, launches

Buy: Varun Beverages Ltd.

Target

Motilal Oswal

In May'19, VBL acquired the franchisee rights to seven states Gujarat, parts of Maharashtra, parts of Karnataka, parts of Telangana, parts of Andhra Pradesh, Kerala, and Tamil Nadu in South and West India from PepsiCo. Prior to the acquisition, PepsiCo's market share had dropped over CY16-19 and penetration levels in the region were low. The management aims to improve distribution and penetration levels in the region. However, its expansion plans were hampered due to the onset of the COVID-19 outbreak....

Varun Beverages Ltd. is trading below all available SMAs

Is Varun Beverages Ltd. worth buying?

1547 Votes:

Buy 78.15%

Sell 10.54%

Hold 11.31%

RESEARCH REPORTS

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Buy SEE REPORTS >

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