Varun Pepsi

Gurugram, India Listed
PepsiCo beverages are bottled, sold, and distributed by Varun Beverages.
Request Access
Report Incorrect Data
Page last updated

About Varun Pepsi

Varun Pepsi is a publicly listed company based in Gurugram (India). PepsiCo beverages are bottled, sold, and distributed by Varun Beverages. It operates on a B2B model. The company has 8,184 employees. Its Indian entity Varun Beverages Limited reported revenue of ₹22,038 Cr.

Company details

Varun Beverages is part of the RKJ Group which is a conglomerate in the Food amp; Beverage industry with 10 bottling plants delegated to Pepsico, 6 in Indian and 1 each in Sri Lanka, Mozambique, Morocco, Zambia and Nepal. Also, manages the sale and distribution of Pepsicos beverages in 13 states in India. Standard Chartered PE had invested 48M in 2011 followed by a 32M round in 2012. In October 2015, Aion Partners (special situation fund of Apollo Global) committed INR 600 crore (92M) of funding of which INR 300 crore will be through non-convertible debentures. Went public in Oct16 after raising INR 327 Crore from anchor investors

Key Metrics
  • Market Cap
    ₹1,47,139 Cr

    VBL · NSE

  • Share Price
    ₹432.80

    -0.51% today

  • Revenue
    ₹21,685 Cr

    Dec 2025 · +8.4% YoY

  • EBITDA
    ₹5,070 Cr

    Margin 23.4%

  • Net Profit
    ₹2,933 Cr

    Dec 2025 · +10.6% YoY

  • P/E (TTM)
    42.6x

    P/B 7.5x

  • ROE
    16.9%

    ROCE 20.1%

  • Debt / Equity
    0.15

    Interest cover 5.1x

  • Employee Count
    8,184

Board of directors of Varun Beverages Limited (Varun Pepsi)

Varun Beverages Limited is the primary company behind Varun Pepsi. The board of Varun Beverages Limited currently have 10 directors; the longest-serving is Ravi Kant Jaipuria, appointed in 1995. 22 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Ravi Kant Jaipuria
DIN 00003668
Director16 Jun 199531 yrs 4 moVarun Beverages Limited
Raj Pal Gandhi
DIN 00003649
Whole-time director21 Oct 200422 yrsVarun Beverages Limited
Varun Jaipuria
DIN 02465412
Whole-time director01 Jan 200917 yrs 10 moVarun Beverages Limited
Sita Khosla
DIN 01001803
Director16 Feb 20188 yrs 8 moVarun Beverages Limited
Rashmi Dhariwal
DIN 00337814
Director19 Mar 20188 yrs 7 moVarun Beverages Limited
Ravi Gupta
DIN 00023487
Director19 Mar 20188 yrs 7 moVarun Beverages Limited
Rajinder Jeet Singh Bagga
DIN 08440479
Whole-time director02 May 20197 yrs 6 moVarun Beverages Limited
Anil Kumar Sondhi
DIN 00696535
Director02 May 20233 yrs 6 moVarun Beverages Limited
Abhiram Seth
DIN 00176144
Director02 May 20233 yrs 6 moVarun Beverages Limited
Naresh Trehan
DIN 00012148
Director21 Apr 20242 yrs 6 moVarun Beverages Limited

IPO & Listings of Varun Pepsi

Varun Pepsi is a publicly listed company on the NSE with ticker symbol VBL in India, operating in the FMCG sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: VBL
  • Listed entityVarun Beverages Limited
  • Exchange sectorFMCG

Financials of Varun Pepsi

Exchange-reported figures of Varun Beverages Limited, the listed company behind Varun Pepsi (NSE: VBL).

Financial Highlights

Dec 2025 · Consolidated
Revenue
₹21,685 Cr
+8.4% YoY
EBITDA
₹5,070 Cr
+6.9% YoY
Profit After Tax
₹2,933 Cr
+10.6% YoY
Net Worth
-
Total Assets
-
Total Debt
-

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income statement
Revenue21,68520,00816,04313,1738,8237,5558,512
Revenue growth+8.4%+24.7%+21.8%+49.3%+16.8%-11.3%-
EBITDA5,0704,7423,6322,8061,6771,1481,462
EBITDA margin+23.4%+23.7%+22.6%+21.3%+19.0%+15.2%+17.2%
Profit before tax4,0103,4332,7392,0241,007362696
Net profit2,9332,6512,1201,541707388468
Net profit margin+13.5%+13.3%+13.2%+11.7%+8.0%+5.1%+5.5%
EPS (₹)8.987.6715.8223.0516.0311.4016.24
Balance sheet
Cash flow
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue6,6088,5456,5744,2044,9617,0175,5673,689
Revenue growth (YoY)+33.2%+21.8%+18.1%+14.0%+3.3%-2.5%--
Other income12010543.5399.1114877.1628.0644.64
EBITDA1,4242,3281,5256371,1391,9981,263579
EBITDA margin+21.6%+27.2%+23.2%+15.1%+23.0%+28.5%+22.7%+15.7%
Depreciation420413357330312306273261
Interest71.6958.6548.5346.6946.7136.5541.12109
Profit before tax1,0531,9611,1633599271,732978254
Tax22245228498.8819640724658.50
Net profit8311,5108792607321,325731196
EPS (₹)2.454.452.580.742.153.892.150.56
MetricsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income statement
Revenue14,55714,34912,63310,5966,5964,8765,616
Revenue growth+1.5%+13.6%+19.2%+60.7%+35.3%-13.2%-
EBITDA3,7653,6882,9852,1801,1807931,205
EBITDA margin+25.9%+25.7%+23.6%+20.6%+17.9%+16.3%+21.5%
Profit before tax3,5433,0702,3681,685682203634
Net profit2,5732,3761,8321,303505284445
Net profit margin+17.7%+16.6%+14.5%+12.3%+7.7%+5.8%+7.9%
EPS (₹)7.916.8613.6619.5611.307.8415.54
Balance sheet
Cash flow
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue3,8225,9964,5012,1353,0645,3054,0532,014
Revenue growth (YoY)+24.8%+13.0%+11.1%+6.0%-0.7%-8.6%--
Other income14410474.3221415090.0159.80154
Total expenses2,9044,1183,3281,8102,2773,6643,0421,691
EBITDA9181,8781,1723257871,6411,010323
EBITDA margin+24.0%+31.3%+26.0%+15.2%+25.7%+30.9%+24.9%+16.0%
Depreciation202224199185172180165154
Interest7.933.944.2612.827.943.697.8063.89
Profit before tax8521,7551,0433427571,548897259
Tax19343125680.6917938821950.19

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 13 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue6,6088,5456,5744,2044,9617,0175,5673,689
Revenue growth (YoY)+33.2%+21.8%+18.1%+14.0%+3.3%-2.5%--
Other income12010543.5399.1114877.1628.0644.64
EBITDA1,4242,3281,5256371,1391,9981,263579
EBITDA margin+21.6%+27.2%+23.2%+15.1%+23.0%+28.5%+22.7%+15.7%
Depreciation420413357330312306273261
Interest71.6958.6548.5346.6946.7136.5541.12109
Profit before tax1,0531,9611,1633599271,732978254
Tax22245228498.8819640724658.50
Net profit8311,5108792607321,325731196
EPS (₹)2.454.452.580.742.153.892.150.56
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Revenue21,68520,00816,04313,1738,8237,5558,512
Revenue growth+8.4%+24.7%+21.8%+49.3%+16.8%-11.3%-
Other income35212179.3638.8567.9336.9746.89
Total expenses16,61615,26612,41010,3677,1466,4077,050
Employee cost2,2011,8851,4471,2171,008890811
EBITDA5,0704,7423,6322,8061,6771,1481,462
EBITDA margin+23.4%+23.7%+22.6%+21.3%+19.0%+15.2%+17.2%
Depreciation1,216947681617531529489
Interest196483292204207294324
Profit before tax4,0103,4332,7392,0241,007362696
Tax9487996384742615.23224
Net profit2,9332,6512,1201,541707388468
Net profit margin+13.5%+13.3%+13.2%+11.7%+8.0%+5.1%+5.5%
EPS (₹)8.987.6715.8223.0516.0311.4016.24
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Growth
Sales growth+8.4%+24.7%+21.8%+49.3%+16.8%-11.3%-
EBITDA growth+6.9%+30.6%+29.5%+67.3%+46.1%-21.5%-
PBT growth+16.8%+25.3%+35.4%+101.0%+177.7%-47.9%+60.5%
Net income growth+10.6%+25.1%+37.6%+118.0%+82.2%-17.0%-
Revenue CAGR (3Y)+18.1%+31.4%+28.5%+15.7%+13.4%+23.6%+30.2%
EBITDA CAGR (3Y)+21.8%+41.4%+46.8%+24.3%+18.2%+11.1%+22.4%
Profitability & leverage
Net income margin+14.1%+13.2%+13.1%+11.8%+8.5%+4.7%+5.6%
Return on capital employed+20.1%+24.3%+27.8%+26.4%+16.6%+10.4%+17.3%
Return on net worth+16.9%+22.4%+34.9%+33.8%+19.6%+12.2%+17.7%
Debt / equity0.150.350.770.790.870.971.17
Long-term debt / equity0.060.190.440.410.500.630.81
Interest cover5.0912.729.889.3218.0747.4333.31
Efficiency & per share
Fixed asset turnover1.051.311.431.350.970.861.16
Inventory turnover7.748.297.887.787.548.4611.82
Debtors turnover21.2233.9949.5551.4438.6936.9757.43
EPS (₹)8.987.6715.8223.0516.0311.4016.24
Dividend per share (₹)1.501.002.503.502.502.502.50
Book value per share (₹)57.8949.1253.3978.5594.22122.07115.29
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue3,8225,9964,5012,1353,0645,3054,0532,014
Revenue growth (YoY)+24.8%+13.0%+11.1%+6.0%-0.7%-8.6%--
Other income14410474.3221415090.0159.80154
Total expenses2,9044,1183,3281,8102,2773,6643,0421,691
EBITDA9181,8781,1723257871,6411,010323
EBITDA margin+24.0%+31.3%+26.0%+15.2%+25.7%+30.9%+24.9%+16.0%
Depreciation202224199185172180165154
Interest7.933.944.2612.827.943.697.8063.89
Profit before tax8521,7551,0433427571,548897259
Tax19343125680.6917938821950.19
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Revenue14,55714,34912,63310,5966,5964,8765,616
Revenue growth+1.5%+13.6%+19.2%+60.7%+35.3%-13.2%-
Other income51435414614457.3071.9998.01
Total expenses10,79210,6619,6488,4165,4154,0834,411
Employee cost1,2601,1781,037920741695631
EBITDA3,7653,6882,9852,1801,1807931,205
EBITDA margin+25.9%+25.7%+23.6%+20.6%+17.9%+16.3%+21.5%
Depreciation702618518483400413387
Interest33.22354244156156250282
Profit before tax3,5433,0702,3681,685682203634
Tax867750593414192(23.75)186
Net profit2,5732,3761,8321,303505284445
Net profit margin+17.7%+16.6%+14.5%+12.3%+7.7%+5.8%+7.9%
EPS (₹)7.916.8613.6619.5611.307.8415.54
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Growth
Sales growth+1.5%+13.6%+19.2%+60.7%+35.3%-13.2%-
EBITDA growth+2.1%+23.5%+36.9%+84.7%+48.8%-34.2%-
PBT growth+15.4%+29.6%+40.6%+147.2%+236.3%-68.1%+37.0%
Net income growth+8.3%+29.7%+40.6%+158.3%+77.9%-36.3%-
Revenue CAGR (3Y)+11.2%+29.6%+37.3%+23.6%+19.5%+16.8%+23.5%
EBITDA CAGR (3Y)+20.0%+46.2%+55.5%+21.9%+11.0%+3.2%+19.7%
Profitability & leverage
Net income margin+18.4%+16.2%+14.1%+12.0%+7.4%+4.6%+8.0%
Return on capital employed+19.4%+23.0%+24.3%+21.5%+11.1%+7.2%+14.7%
Return on net worth+15.2%+19.6%+28.2%+25.6%+11.6%+7.2%+13.9%
Debt / equity0.040.240.670.680.740.790.89
Long-term debt / equity0.010.140.390.350.440.540.64
Interest cover1.0811.529.919.2020.0365.6734.43
Efficiency & per share
Fixed asset turnover1.031.251.351.330.900.670.94
Inventory turnover8.708.908.538.507.567.2110.29
Debtors turnover62.4869.5469.5775.0743.5932.4042.38
EPS (₹)7.916.8613.6619.5611.307.8415.54
Dividend per share (₹)1.501.002.503.502.502.502.50
Book value per share (₹)55.4848.9754.4684.94101.58138.97133.95
Upgrade to premium

Unlock complete access to The Company Check

Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.

Upgrade to Premium No viewing limits. Your plan controls exports and screening usage.
Included in your Premium account
  • ✓
    Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
  • ✓
    Full access to every database India & global coverage, advanced filters and rich profile details
  • ✓
    Always-on access from your team account Single premium plan for everything you see on the portal

Related news about Varun Pepsi

VBL: Q2 CONS NET PROFIT 8.3B RUPEES VS 7.4B (YOY); EST 7.9B
Exchange Update • 14 days ago
VBL: Q2 EBITDA 14.3B RUPEES VS 11.4B (YOY); Q2 EBITDA MARGIN 20.9% VS 22.7% (YOY)
Exchange Update • 14 days ago
VBL: Q2 REVENUE 68B RUPEES VS 51B (YOY)
Exchange Update • 14 days ago
Varun Beverages: Reports 28.7% Volume Growth In Q2, Surpassing FY27 Goals For Double-Digit Increases
Exchange Update • 14 days ago
Varun Beverages: Plans To Expand Capacity In Zimbabwe By 2028 And Is Seeking Global Partnerships For Its Alcoholic Beverage Segment.
Exchange Update • 14 days ago
VBL: Co Expects Aggressive Distribution Plans For 2027
Exchange Update • 14 days ago
VBL: Rs. 29.40 Crores BSE Block Trade; for ~ 666,000 Shares, at Rs. 441.50
Exchange Update • 1 month ago
Varun Beverages: Approves ₹4.10 Crore Investment For 26% Stake In Jager Renewables Private Limited To Secure Solar Power In Uttar Pradesh.
Exchange Update • 1 month ago
HDFC Bank, Tech Mahindra, Varun Beverages: Top largecap stocks to buy; check price targets & more - BusinessToday
Business Today • 1 month ago
Varun Beverages' Kiva Spirits in advanced talks to acquire Alcobrew Distilleries India
foodbusinessmea.com • 1 month ago
Premium access

Complete news archive for Varun Pepsi

Full article history, source details, and older brand coverage require an active premium plan.

  • Full article archive
  • Source and publication date
  • Older coverage
  • Brand-specific news history

Verified entity values are shown only after access is granted.

Articles about Varun Pepsi on our blog

Frequently Asked Questions about Varun Pepsi

Varun Pepsi is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.

Varun Pepsi has 8,184 employees.

The primary company behind Varun Pepsi, Varun Beverages Limited, reported revenue of ₹22,038 Cr for FY 2025, up 8% year on year.

Varun Beverages is part of the RKJ Group which is a conglomerate in the Food amp; Beverage industry with 10 bottling plants delegated to Pepsico, 6 in Indian and 1 each in Sri Lanka, Mozambique, Morocco, Zambia and Nepal. Also, manages the sale and distribution of Pepsicos beverages in 13 states in India. Standard Chartered PE had invested 48M in 2011 followed by a 32M round in 2012. In October 2015, Aion Partners (special situation fund of Apollo Global) committed INR 600 crore (92M) of funding of which INR 300 crore will be through non-convertible debentures. Went public in Oct16 after raising INR 327 Crore from anchor investors.

Yes, Varun Pepsi is publicly traded on NSE under the ticker symbol VBL.

Varun Pepsi operates through Varun Beverages Limited.

The legal entities of Varun Pepsi currently have 12 directors, including Naresh Trehan, Sita Khosla, Rashmi Dhariwal and others.

Explore millions of companies — effortlessly

Access structured, verified intelligence on 7M+ companies across industries, sectors, and global markets. From early-stage startups to large enterprises, discover ownership, leadership, funding, financials, acquisitions, and market signals — all in one powerful platform.

Free account with essential features Instant access to company reports Enterprise solutions available