Annual Results Results Snapshot
Figures in Cr
Consolidate Annual Results
Dec'25
Dec'24
Dec'23
Dec'22
Dec'21
Dec'20
Dec'19
Net Sales
21,685.38
20,007.65
16,042.58
13,173.14
8,823.23
6,450.14
7,129.58
Other Operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total Operating income
21,685.38
20,007.65
16,042.58
13,173.14
8,823.23
6,450.14
7,129.58
Raw Material Cost
9,337.06
8,293.74
7,026.46
6,417.09
3,968.91
2,688.51
2,939.56
Purchase of Finished goods
369.45
685.92
462.70
188.57
165.47
92.59
423.73
(Increase) / Decrease In Stocks
8.91
-74.94
-84.27
-344.51
-99.72
-17.16
-143.86
Employee Cost
2,200.74
1,885.03
1,446.59
1,216.64
1,007.70
889.74
810.82
Power Cost
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Manufacturing Expenses
0.01
0.00
0.00
0.01
0.00
0.00
0.00
Selling and Distribution Expenses
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other Expenses
4,719.84
4,506.83
3,581.61
2,907.24
2,126.23
1,594.60
1,651.67
Total Expenditure (Excl Depreciation)
16,636.01
15,296.58
12,433.09
10,385.04
7,168.59
5,248.28
5,681.92
Operating Profit (PBDIT) excl Other Income
5,049.37
4,711.07
3,609.49
2,788.10
1,654.64
1,201.86
1,447.66
Other Income
352.35
121.27
79.36
38.85
67.93
36.97
42.53
Operating Profit (PBDIT)
5,401.72
4,832.34
3,688.85
2,826.95
1,722.57
1,238.83
1,490.19
Interest
169.58
450.39
268.10
186.12
184.70
281.10
309.64
Exceptional Items
0.00
0.00
0.00
0.00
0.00
-66.53
0.00
Gross Profit (PBDT)
5,232.14
4,381.95
3,420.75
2,640.83
1,537.87
891.20
1,180.55
Depreciation
1,216.46
947.39
680.91
617.19
531.26
528.70
488.63
Profit Before Tax
4,015.68
3,434.57
2,739.84
2,023.65
1,006.61
362.51
691.91
Tax
947.61
798.80
637.55
473.52
260.56
5.23
224.07
Provisions and contingencies
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Profit After Tax
3,068.07
2,635.77
2,102.29
1,550.12
746.05
357.27
467.85
Extraordinary Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Prior Period Expenses
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other Adjustments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Net Profit
3,068.07
2,635.77
2,102.29
1,550.12
746.05
357.27
467.85
Share in Profit of Associates
-6.03
-1.48
-0.48
-0.01
0.00
0.00
4.36
Minority Interest
-25.55
-39.65
-45.89
-52.68
-52.00
-28.28
-3.23
Other related items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Consolidated Net Profit
3,036.49
2,594.63
2,055.92
1,497.43
694.05
329.00
468.98
Equity Capital
676.40
676.30
649.61
649.55
433.03
288.69
288.69
Face Value
2.0
2.0
5.0
10.0
10.0
10.0
10.0
Reserves
18,902.31
15,933.53
6,286.89
4,452.83
3,646.88
3,235.31
3,039.73
Earnings per share (EPS)
8.98
7.67
6.33
4.61
2.14
1.01
1.44
Diluted Earnings per share
8.98
7.94
6.33
4.61
2.14
0.68
1.5
Operating Profit Margin (Excl OI)
23.28%
23.55%
22.5%
21.17%
18.75%
18.63%
20.3%
Gross Profit Margin
24.13%
21.9%
21.32%
20.05%
17.43%
13.82%
16.56%
PAT Margin
14.12%
13.17%
13.1%
11.77%
8.46%
5.54%
6.62%
Public Share Holdings (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Pledged Promotor Holding (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Annual Analysis Highlights
Net Sales
YoY Growth in year ended Dec 2025 is 8.39% vs 24.72% in Dec 2024
Consolidate Net Profit
YoY Growth in year ended Dec 2025 is 17.03% vs 26.20% in Dec 2024
Operating Profit (PBDIT) excl Other Income
YoY Growth in year ended Dec 2025 is 7.18% vs 30.52% in Dec 2024
Interest
YoY Growth in year ended Dec 2025 is -62.35% vs 67.99% in Dec 2024
Operating Profit Margin (Excl OI)
YoY Growth in year ended Dec 2025 has fallen from Dec 2024
Compare Annual Results Of Varun Beverages With
Figures in Cr
Consolidate Annual Results
Change(INR)
Change(%)
Net Sales
21,685.38
12,069.00
9,616.38
79.68%
Other Operating Income
0.00
0.00
0.00
Total Operating income
21,685.38
12,069.00
9,616.38
79.68%
Raw Material Cost
9,337.06
5,443.00
3,894.06
71.54%
Purchase of Finished goods
369.45
864.00
-494.55
-57.24%
(Increase) / Decrease In Stocks
8.91
90.00
-81.09
-90.10%
Employee Cost
2,200.74
609.00
1,591.74
261.37%
Power Cost
0.00
0.00
0.00
Manufacturing Expenses
0.01
0.00
0.01
Selling and Distribution Expenses
0.00
1,130.00
-1,130.00
-100.00%
Other Expenses
4,719.84
1,690.00
3,029.84
179.28%
Total Expenditure (Excl Depreciation)
16,636.01
9,826.00
6,810.01
69.31%
Operating Profit (PBDIT) excl Other Income
5,049.37
2,243.00
2,806.37
125.12%
Other Income
352.35
336.00
16.35
4.87%
Operating Profit (PBDIT)
5,401.72
2,579.00
2,822.72
109.45%
Interest
169.58
89.00
80.58
90.54%
Exceptional Items
0.00
-65.00
65.00
100.00%
Gross Profit (PBDT)
5,232.14
2,425.00
2,807.14
115.76%
Depreciation
1,216.46
283.00
933.46
329.84%
Profit Before Tax
4,015.68
2,142.00
1,873.68
87.47%
Tax
947.61
553.00
394.61
71.36%
Provisions and contingencies
0.00
0.00
0.00
Profit After Tax
3,068.07
1,589.00
1,479.07
93.08%
Extraordinary Items
0.00
0.00
0.00
Prior Period Expenses
0.00
0.00
0.00
Other Adjustments
0.00
0.00
0.00
Net Profit
3,068.07
1,589.00
1,479.07
93.08%
Share in Profit of Associates
-6.03
-7.00
0.97
13.86%
Minority Interest
-25.55
0.00
-25.55
Other related items
0.00
0.00
0.00
Consolidated Net Profit
3,036.49
1,582.00
1,454.49
91.94%
Equity Capital
676.40
145.00
531.40
366.48%
Face Value
2.00
2.00
0.00
Reserves
18,902.31
7,959.00
10,943.31
137.50%
Earnings per share (EPS)
8.98
21.82
-12.84
-58.85%
Diluted Earnings per share
8.98
22.28
-13.30
-59.69%
Operating Profit Margin (Excl OI)
23.28%
18.58%
0.00
4.70%
Gross Profit Margin
24.13%
20.09%
0.00
4.04%
PAT Margin
14.12%
13.11%
0.00
1.01%
Public Share Holdings (%)
0.00%
0.00%
0.00
0.00%
Pledged Promotor Holding (%)
0.00%
0.00%
0.00
0.00%
Annual - Net Sales
Net Sales 21,685.38 Cr
in Dec 2025Figures in Cr
YoY Growth in year ended Dec 2025 is 8.39% vs 24.72% in Dec 2024
Annual - Consolidate Net Profit
Consolidate Net Profit 3,036.49 Cr
in Dec 2025Figures in Cr
YoY Growth in year ended Dec 2025 is 17.03% vs 26.20% in Dec 2024
Annual - Operating Profit (PBDIT)
Operating Profit (PBDIT) 5,049.37 Cr
in Dec 2025Figures in Cr
YoY Growth in year ended Dec 2025 is 7.18% vs 30.52% in Dec 2024
Annual - Interest
Interest 169.58 Cr
in Dec 2025Figures in Cr
YoY Growth in year ended Dec 2025 is -62.35% vs 67.99% in Dec 2024
Annual - Operating Profit Margin (Excl OI)
Operating Profit Margin (Excl OI) 23.28%
in Dec 2025Figures in %
YoY Growth in year ended Dec 2025 has fallen from Dec 2024
