NSE: VBL | BSE: 540180

Mid-range Performer

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462.05 -2.00 (-0.43%)

32.16% Fall from 52W High

978.9K NSE+BSE Volume

NSE 08 Jul, 2025 10:16 AM (IST)

156,261.5

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.

02 Nov 2021

462.05

-0.43%

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

462.05

-0.43%

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 -28.44% in the last 1 Year

Varun Beverages Ltd.

28 Sep 2021

462.05

-0.43%

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

Varun Beverages Ltd.

02 Aug 2021

462.05

-0.43%

Sharp volume growth on strong recovery and lower base

Buy: Varun Beverages Ltd.

Motilal Oswal

Sharp volume growth on strong recovery and lower base Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...

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

Varun Beverages Ltd.

15 Jun 2021

462.05

-0.43%

Company Update:Varun Beverages

Buy: Varun Beverages Ltd.

Axis Direct

At CMP, the stock trades at 14.7x EV/EBITDA CY23E which is attractive in our view. Maintain a BUY rating with a revised TP of Rs 900/share. Key Risks to our call are a) Resurgence of covid-19 cases, b) Likelihood of the 3rd wave and consequent lockdowns, and c) Sudden spike in RM prices.

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

Varun Beverages Ltd.

08 Jun 2021, 12:00AM

462.05

-0.43%

VARUN BEVERAGES LTD.

Buy: Varun Beverages Ltd.

Ventura

Varun Beverage Limited (VBL) is the second largest franchisee in the world (outside US) of carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) sold under PepsiCo's trademarks.

Varun Beverages Ltd. has lost -25.26% in the last 6 Months

Varun Beverages Ltd.

04 May 2021

462.05

-0.43%

Varun Beverages

Buy: Varun Beverages Ltd.

Recommendation Target

ICICI Securities Limited

With the increase in crude prices, PET resin prices have also gone up sharply in the last three months. Further, we expect sugar prices to increase ~15% in next one year. We believe these commodity prices would remain firm for a prolonged period of time, which would require certain amount of price hikes. However, we believe it would not be easy to take prices hikes given aggressive competition. Hence, we believe operating margins would remain under pressure. We expect 19.8%, 20.1% operating margins for CY021E,...

Varun Beverages Ltd. has lost -25.26% in the last 6 Months

Varun Beverages Ltd.

04 May 2021

462.05

-0.43%

Strong volume growth on demand recovery

Buy: Varun Beverages Ltd.

Motilal Oswal

Varun Beverages (VBL) reported a strong operating performance on the back of higher volume growth across the Carbonated Soft Drinks (CSD) and NonCarbonated Beverages (NCB) segments. Volumes increased 32% YoY to 151m unit-cases. This was primarily led by an increase in out-of-home...

Varun Beverages Ltd. is trading below all available SMAs

Varun Beverages Ltd.

04 May 2021

462.05

-0.43%

Result Update:Varun Beverages

Results Update: Varun Beverages Ltd.

Axis Direct

While VBL is covered on key RMs (PET resin and manageable inflation in Sugar) we do tweak our estimates a shade to factor in lower margins in CY21/22 and revise our TP to Rs. 1,200/share (earlier Rs. 1,230) given near term growth challenges. Retain BUY.

Varun Beverages Ltd. has lost -25.26% in the last 6 Months

Is Varun Beverages Ltd. worth buying?

1546 Votes:

Buy 78.14%

Sell 10.54%

Hold 11.32%

RESEARCH REPORTS

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