Varun Beverages Ltd. share price target

Varun Beverages (Varun) is the one of the largest franchisees for PepsiCo globally (ex-US) in production and distribution of carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) sold under trademarks owned by PepsiCo. The company has been associated with PepsiCo since 1990 and has expanded its presence to 17 states and two union territories in India, Nepal, Sri Lanka, Morocco, Mozambique and Zambia with an estimated annual production capacity of 3,43.8 crore litre in India and 99.2 crore litre in international production facilities....

accounts 44% of PepsiCo India's revenues (2) In 2015, VBL acquired PepsiCo Post Eq. Paid up Capital: `182.0cr India's business in few states which in our opinion has better profitability (3) The...

Demonstrated ability to grow Sales Volumes: The Company has been associated with PepsiCo since the 1990s and has over two and half decades consolidated its business association with PepsiCo, increasing the number of licensed territories and sub-territories covered by it, producing and distributing a wider range of PepsiCo beverages, introducing various SKUs in its portfolio, and expanding its distribution network. Its demonstrated ability to grow PepsiCo product sales has led to PepsiCo India / PepsiCo Inc. and / or the PepsiCo International Entities licensing additional territories to the company, including those that were earlier directly operated by PepsiCo or by third-party bottlers....