NSE: VBL | BSE: 540180

Mid-range Performer

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461.20 8.95 (1.98%)

32.29% Fall from 52W High

9.7M NSE+BSE Volume

NSE 14 Jul, 2025 3:31 PM (IST)

155,974

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 Aug 2022

461.20

1.98%

Operating leverage drives earnings

Buy: Varun Beverages Ltd.

Motilal Oswal

Varun Beverages Ltd. has lost -27.23% in the last 1 Year

Varun Beverages Ltd.

29 Jun 2022

461.20

1.98%

Robust growth amid consolidation of territories: A bet on India’s emerging beverage market

Buy: Varun Beverages Ltd.

Bonanza

Varun Beverages Ltd. (VBL) a near monopoly of PepsiCo, is a solid play on the emerging beverage market in India. VBL’s focus towards PAN India expansion [reached 85% of Indian PepsiCo volume (26% in CY11) after acquiring South and West region], CAPEX for its backward integrated facilities (Pathankot and Jammu & Kashmir), improving product mix, huge scope to capture Indian soft drinks market (44 bottles per capita consumption in India v/s 1,496 bottles in USA) and debt reduction will promote further growth.

Varun Beverages Ltd. has lost -27.23% in the last 1 Year

Varun Beverages Ltd.

14 Jun 2022, 12:00AM

461.20

1.98%

Varun Beverages Ltd

Buy: Varun Beverages Ltd.

Hem Securities

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

Varun Beverages Ltd.

29 Apr 2022

461.20

1.98%

Result Update:Varun Beverages

Buy: Varun Beverages Ltd.

Target

Axis Direct

Maintain BUY with an upward revision in TP to Rs 1,200 (earlier Rs 1,080) as we value the stock at 36x Mar-24E EPS.

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

04 Mar 2022

461.20

1.98%

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...

Promoters released all pledges in Jun 2025 qtr.

Varun Beverages Ltd.

03 Mar 2022

461.20

1.98%

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. is trading below all available SMAs

Varun Beverages Ltd.

05 Feb 2022

461.20

1.98%

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...

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

Varun Beverages Ltd.

04 Feb 2022

461.20

1.98%

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 620.25 from 8 brokers.

Varun Beverages Ltd.

04 Jan 2022

461.20

1.98%

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 -27.23% in the last 1 Year

Varun Beverages Ltd.

30 Nov 2021

461.20

1.98%

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....

Promoters released all pledges in Jun 2025 qtr.

Is Varun Beverages Ltd. worth buying?

1550 Votes:

Buy 78.13%

Sell 10.52%

Hold 11.35%

RESEARCH REPORTS

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