Varun Beverages Limited

BSE: 540180 NSE: VBL
Varun Beverages Limited - food and beverages in New Delhi, Delhi, India. FY 2026 financials and compliance.
CIN L74899DL1995PLC069839 Incorporated 16 June 1995 ROC Delhi HQ New Delhi, Delhi, India
Active Listed - NSE: VBL · BSE: 540180 Public Limited Company food and beverages
Data last updated
Revenue · FY 2024
₹20,481 Cr
▲ 25.49% YoY
EBITDA · FY 2024
₹4,832.34 Cr
▲ 31% YoY
Net profit · FY 2024
₹2,634.29 Cr
▲ 25.33% YoY
Authorised capital
₹1,000 Cr
Registered with MCA
Paid-up capital
₹676.4 Cr
Issued & subscribed
Open charges
₹3,164.8 Cr
Satisfied ₹16,666 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
8,184
Latest available

About Varun Beverages Limited

Data last updated: 23 December 2025

Varun Beverages Limited is a public limited company based in New Delhi, Delhi, India. It specialises in non-alcoholic beverage manufacturing and distribution, a part of the broader food and beverages sector. Incorporated on 16 June 1995, the company has been in operation for over 31 years.

Registered with ROC Delhi under CIN L74899DL1995PLC069839. Listed on BSE: 540180 and NSE: VBL.

Capital: an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹676.4 Cr. It is led by directors including Rashmi Dhariwal and Rajinder Jeet Singh Bagga.

Last AGM: 03 April 2025. Financial statements filed for year ended 31 December 2024. Office: F – 2/7 Okhla Indl.Area Phase I, New Delhi, Delhi, India – 110020.

As per the financials filed for FY 2023, the company reported a revenue of ₹12,779 Cr, a growth of 18.99% compared to the previous year.

The company has a workforce of approximately 8,184 employees as per the latest available data. Its group structure includes 2 subsidiaries and 1 joint venture.

The company is associated with 2 brands - Varun Beverages, Varun Pepsi. As per MCA filings, the company has open charges of ₹3,164.8 Cr and satisfied charges of ₹16,666 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website varunpepsi.com.

Company Details of Varun Beverages Limited
CIN L74899DL1995PLC069839
Registration Number 069839
Incorporation Date 16 June 1995
ROC Delhi
Listing Status Listed (BSE: 540180, NSE: VBL)
Company Status Active
Date of Last AGM 03 April 2025
Date of Balance Sheet 31 December 2024
Compliance Status Active Compliant
Key People
Rajinder Jeet Singh Bagga Whole-Time Director Raj Pal Gandhi Whole-Time Director Varun Jaipuria Whole-Time Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    varunpepsi.com
  • Social Media
  • Registered Address
    F – 2/7 Okhla Indl.Area Phase I, New Delhi, Delhi, India – 110020
  • Industry
    Food and Beverages, Non-Alcoholic Beverage Manufacturing & Distribution
Company report
Varun Beverages Limited - full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Varun Beverages Limited in one report.

10-year financials Directors & ownership Charges & compliance

CIN History of Varun Beverages Limited

Varun Beverages Limited has one previous CIN (Corporate Identification Number): U74899DL1995PLC069839. The current CIN is L74899DL1995PLC069839, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
L74899DL1995PLC069839 Current
U74899DL1995PLC069839 Previous

Associated Brands with Varun Beverages Limited

Varun Beverages Limited operates two associated brands: Varun Beverages and Varun Pepsi. These brands represent Varun Beverages Limited's diversified market presence and brand portfolio.

Brand Description Website
Varun Beverages
Brand of beverage products varunbeverages.com
Varun Pepsi
PepsiCo beverages are bottled, sold, and distributed by Varun Beverages. varunpepsi.com

Business Activity of Varun Beverages Limited

Varun Beverages Limited operates primarily in the manufacturing sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
********* Manufacturing ********* Food, beverages and tobacco products *********

Auditor Details of Varun Beverages Limited

Varun Beverages Limited is audited by J. C. Bhalla & Co. for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.

Name Status Appointment Date Cessation Date
J. C. Bhalla & Co. blur-value blur-value blur-value

Board of Directors of Varun Beverages Limited

Varun Beverages Limited is currently managed by 12 directors, with 30 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Rashmi Dhariwal
Also directs: Devyani International Limited, Varun Beverages Limited, Sky Gate Hospitality Private Limited and 5 more
Director 19 Mar 2018 8 Years 3 Months Current
Rajinder Jeet Singh Bagga
Also directs: Varun Beverages Limited, Alisha Torrent Closures (India) Private Limited, Lunarmech Technologies Private Limited and 1 more
Whole-Time Director 02 May 2019 7 Years 2 Months Current
Ravi Gupta
Also directs: Devyani International Limited, Varun Beverages Limited, Global Health Limited and 5 more
Director 19 Mar 2018 8 Years 3 Months Current
Ravi Kant Jaipuria
Also directs: Devyani International Limited, Varun Beverages Limited, Alisha Torrent Closures (India) Private Limited and 3 more
Director 16 Jun 1995 31 Years 0 Months Current
Sita Khosla
Also directs: Varun Beverages Limited, Aurum Equity Partners Llp
Director 16 Feb 2018 8 Years 4 Months Current
Raj Pal Gandhi
Also directs: Devyani International Limited, Varun Beverages Limited, Sky Gate Hospitality Private Limited and 5 more
Whole-Time Director 21 Oct 2004 21 Years 8 Months Current
Showing 6 of 12 current directors. View all directors

Financials of Varun Beverages Limited FY 2024 filings available

Varun Beverages Limited reported revenue of ₹20,481 Cr (up 25.49% YoY) for FY 2024. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2024
₹20,481 Cr ▲ 25.49%
Profit · FY 2024
₹2,634.29 Cr ▲ 25.33%
EBITDA · FY 2024
₹4,832.34 Cr ▲ 31%
Revenue₹ Cr · Consolidated010,00020,00030,000FY 2020: ₹6,556 Cr6,556FY 2020FY 2021: ₹8,958 Cr · +36.6% YoY8,958+36.6%FY 2021FY 2022: ₹13,391 Cr · +49.5% YoY13,391+49.5%FY 2022FY 2023: ₹16,321 Cr · +21.9% YoY16,321+21.9%FY 2023FY 2024: ₹20,481 Cr · +25.5% YoY20,481+25.5%FY 2024
Net Profit₹ Cr · Consolidated01,0002,0003,000FY 2020: ₹357 Cr357FY 2020FY 2021: ₹746 Cr · +108.8% YoY746+108.8%FY 2021FY 2022: ₹1,550 Cr · +107.8% YoY1,550+107.8%FY 2022FY 2023: ₹2,102 Cr · +35.6% YoY2,102+35.6%FY 2023FY 2024: ₹2,634 Cr · +25.3% YoY2,634+25.3%FY 2024
Quarterly Revenue₹ Cr · vs same quarter last year02,5005,0007,500Q1'25: ₹7,334 Cr · +28.7% YoY7,334+28.7%Q1'25Q2'25: ₹4,932 Cr · +25.3% YoY4,932+25.3%Q2'25Q3'25: ₹3,818 Cr · +39.8% YoY3,818+39.8%Q3'25Q4'25: ₹5,680 Cr · +29.2% YoY5,680+29.2%Q4'25Q1'26: ₹7,163 Cr · -2.3% YoY7,163-2.3%Q1'26Q2'26: ₹5,048 Cr · +2.3% YoY5,048+2.3%Q2'26Q3'26: ₹4,335 Cr · +13.5% YoY4,335+13.5%Q3'26Q4'26: ₹6,722 Cr · +18.3% YoY6,722+18.3%Q4'26
Metrics FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹20,481 Cr ₹16,321 Cr ₹13,391 Cr ₹8,958.29 Cr ₹6,555.79 Cr
Other Income ₹121.27 Cr ₹79.36 Cr ₹38.85 Cr ₹67.93 Cr ₹36.97 Cr
Total Income ₹20,603 Cr ₹16,400 Cr ₹13,429 Cr ₹9,026.22 Cr ₹6,592.76 Cr
Cost of Materials Consumed ₹8,293.74 Cr ₹7,026.46 Cr ₹6,417.09 Cr ₹3,968.91 Cr ₹2,688.51 Cr
Purchases of Stock-in-Trade ₹685.92 Cr ₹462.7 Cr ₹188.57 Cr ₹165.47 Cr ₹92.59 Cr
Changes in Inventories -₹74.94 Cr -₹84.27 Cr -₹344.51 Cr -₹99.72 Cr -₹17.16 Cr
Employee Benefit Expense ₹1,885.03 Cr ₹1,446.59 Cr ₹1,216.64 Cr ₹1,007.7 Cr ₹889.74 Cr
Finance Costs ₹450.39 Cr ₹268.1 Cr ₹186.12 Cr ₹184.7 Cr ₹281.1 Cr
Depreciation & Amortisation ₹947.39 Cr ₹680.91 Cr ₹617.19 Cr ₹531.26 Cr ₹528.7 Cr
Other Expenses ₹4,980.51 Cr ₹3,860.1 Cr ₹3,124.66 Cr ₹2,261.29 Cr ₹1,700.25 Cr
Total Expenses ₹17,168 Cr ₹13,661 Cr ₹11,406 Cr ₹8,019.61 Cr ₹6,163.73 Cr
Profit Before Exceptional Items & Tax ₹3,434.57 Cr ₹2,739.84 Cr ₹2,023.64 Cr ₹1,006.61 Cr ₹429.03 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 -₹66.53 Cr
Profit Before Tax ₹3,434.57 Cr ₹2,739.84 Cr ₹2,023.64 Cr ₹1,006.61 Cr ₹362.51 Cr
Total Tax Expense ₹798.8 Cr ₹637.55 Cr ₹473.52 Cr ₹260.56 Cr ₹5.23 Cr
Net Profit ₹2,634.29 Cr ₹2,101.81 Cr ₹1,550.11 Cr ₹746.05 Cr ₹357.27 Cr
  attributable to Owners ₹2,594.63 Cr ₹2,055.92 Cr ₹1,497.43 Cr ₹694.05 Cr ₹329 Cr
  attributable to NCI ₹39.65 Cr ₹45.89 Cr ₹52.68 Cr ₹52 Cr ₹28.28 Cr
Other Comprehensive Income ₹57.72 Cr -₹8 Cr -₹371.84 Cr -₹29.89 Cr -₹62.45 Cr
Total Comprehensive Income ₹2,692 Cr ₹2,093.81 Cr ₹1,178.27 Cr ₹716.17 Cr ₹294.82 Cr
EBITDA (computed) ₹4,832.34 Cr ₹3,688.84 Cr ₹2,826.95 Cr ₹1,722.57 Cr ₹1,238.84 Cr
Basic EPS ₹7.95 ₹15.83 ₹23.05 ₹16.03 ₹11.40
Diluted EPS ₹7.94 ₹15.82 ₹23.05 ₹16.03 ₹11.40
Metrics FY 2024 FY 2023 FY 2022
Total Assets ₹23,144 Cr ₹15,187 Cr ₹11,618 Cr
Non-current Assets ₹15,280 Cr ₹10,952 Cr ₹8,214.21 Cr
Current Assets ₹7,863.97 Cr ₹4,235.63 Cr ₹3,404.03 Cr
Property, Plant & Equipment ₹11,986 Cr ₹7,837.84 Cr ₹6,357.08 Cr
Inventories ₹2,791.23 Cr ₹2,150.53 Cr ₹1,993.89 Cr
Trade Receivables ₹845.84 Cr ₹359.39 Cr ₹299.34 Cr
Cash & Equivalents ₹2,266.28 Cr ₹242.21 Cr ₹154.33 Cr
Equity (Net Worth) ₹16,740 Cr ₹7,084.65 Cr ₹5,215.49 Cr
Equity Share Capital ₹676.3 Cr ₹649.61 Cr ₹649.55 Cr
Borrowings (Non-current) ₹1,197.78 Cr ₹3,386.82 Cr ₹1,727.02 Cr
Borrowings (Current) ₹1,628.48 Cr ₹2,044.49 Cr ₹1,967.79 Cr
Total Debt (computed) ₹2,826.25 Cr ₹5,431.31 Cr ₹3,694.81 Cr
Current Liabilities ₹4,524.43 Cr ₹4,153.21 Cr ₹3,968.75 Cr
Total Liabilities ₹6,404.27 Cr ₹8,102.53 Cr ₹6,402.76 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2024 FY 2023 FY 2022 FY 2021
Operating Cash Flow ₹3,381.1 Cr ₹2,390.78 Cr ₹1,790.03 Cr ₹1,231.42 Cr
Investing Cash Flow -₹4,316.78 Cr -₹3,289.87 Cr -₹1,704.6 Cr -₹1,010.64 Cr
Financing Cash Flow ₹2,953.54 Cr ₹984.9 Cr -₹17.94 Cr -₹177.68 Cr
Capital Expenditure ₹3,779.01 Cr ₹3,264.05 Cr ₹1,800.99 Cr ₹834.8 Cr
Free Cash Flow (computed) -₹397.91 Cr -₹873.27 Cr -₹10.96 Cr ₹396.62 Cr
Dividends Paid ₹324.82 Cr ₹227.35 Cr ₹162.39 Cr ₹108.26 Cr
Net Change in Cash ₹2,024.07 Cr ₹87.88 Cr ₹3.58 Cr ₹46.19 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹6,721.54 Cr ₹4,334.8 Cr ₹5,047.74 Cr ₹7,163.02 Cr ₹5,680.03 Cr ₹3,817.62 Cr ₹4,932.06 Cr ₹7,333.67 Cr ₹4,397.98 Cr ₹2,730.98 Cr ₹3,937.76 Cr ₹5,699.73 Cr
Other Income ₹43.53 Cr ₹99.11 Cr ₹148.03 Cr ₹77.16 Cr ₹28.06 Cr ₹44.64 Cr ₹24.25 Cr ₹44.03 Cr ₹8.35 Cr ₹9.12 Cr ₹18.51 Cr ₹41.6 Cr
Total Income ₹6,765.07 Cr ₹4,433.9 Cr ₹5,195.77 Cr ₹7,240.18 Cr ₹5,708.08 Cr ₹3,862.25 Cr ₹4,956.31 Cr ₹7,377.7 Cr ₹4,406.33 Cr ₹2,740.1 Cr ₹3,956.26 Cr ₹5,741.34 Cr
Cost of Materials Consumed ₹3,152.2 Cr ₹1,922.07 Cr ₹1,898.52 Cr ₹2,845.4 Cr ₹2,671.07 Cr ₹1,705.49 Cr ₹1,785.01 Cr ₹2,872.33 Cr ₹1,930.92 Cr ₹1,208.69 Cr ₹1,634.74 Cr ₹2,218.73 Cr
Purchases of Stock-in-Trade ₹65.21 Cr ₹110.24 Cr ₹88.91 Cr ₹99.12 Cr ₹71.18 Cr ₹144.37 Cr ₹146.32 Cr ₹160.02 Cr ₹235.22 Cr ₹102.19 Cr ₹109.81 Cr ₹128.97 Cr
Changes in Inventories -₹271.77 Cr -₹156.25 Cr ₹131.78 Cr ₹246.58 Cr -₹213.19 Cr -₹229.66 Cr ₹205.07 Cr ₹228.24 Cr -₹278.59 Cr -₹153.98 Cr -₹14.84 Cr ₹318.88 Cr
Employee Benefit Expense ₹619.27 Cr ₹586.26 Cr ₹553.32 Cr ₹549.66 Cr ₹511.5 Cr ₹479.02 Cr ₹513.04 Cr ₹499.29 Cr ₹393.67 Cr ₹371.31 Cr ₹371.55 Cr ₹364.6 Cr
Finance Costs ₹48.53 Cr ₹46.69 Cr ₹45.21 Cr ₹36.55 Cr ₹41.12 Cr ₹109.01 Cr ₹118.54 Cr ₹129.16 Cr ₹93.69 Cr ₹73.66 Cr ₹62.5 Cr ₹69.37 Cr
Depreciation & Amortisation ₹356.79 Cr ₹330.2 Cr ₹307.6 Cr ₹306.15 Cr ₹272.51 Cr ₹260.78 Cr ₹256.61 Cr ₹242.48 Cr ₹187.52 Cr ₹165.97 Cr ₹170.81 Cr ₹171.93 Cr
Other Expenses ₹1,627.69 Cr ₹1,233.22 Cr ₹1,227.84 Cr ₹1,423.49 Cr ₹1,375.5 Cr ₹1,138.42 Cr ₹1,131.51 Cr ₹1,582.59 Cr ₹1,128 Cr ₹784.49 Cr ₹954.36 Cr ₹1,157.54 Cr
Total Expenses ₹5,597.93 Cr ₹4,072.43 Cr ₹4,253.18 Cr ₹5,506.95 Cr ₹4,729.7 Cr ₹3,607.43 Cr ₹4,156.09 Cr ₹5,714.09 Cr ₹3,690.42 Cr ₹2,552.33 Cr ₹3,288.92 Cr ₹4,430.01 Cr
Profit Before Exceptional Items & Tax ₹1,167.14 Cr ₹361.47 Cr ₹942.59 Cr ₹1,733.23 Cr ₹978.39 Cr ₹254.82 Cr ₹800.23 Cr ₹1,663.61 Cr ₹715.91 Cr ₹187.77 Cr ₹667.34 Cr ₹1,311.33 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹1,167.14 Cr ₹361.47 Cr ₹942.59 Cr ₹1,733.23 Cr ₹978.39 Cr ₹254.82 Cr ₹800.23 Cr ₹1,663.61 Cr ₹715.91 Cr ₹187.77 Cr ₹667.34 Cr ₹1,311.33 Cr
Total Tax Expense ₹284.48 Cr ₹98.88 Cr ₹195.72 Cr ₹406.56 Cr ₹246.45 Cr ₹58.49 Cr ₹171.31 Cr ₹401.24 Cr ₹167.77 Cr ₹44.22 Cr ₹152.86 Cr ₹305.67 Cr
Net Profit ₹878.71 Cr ₹260 Cr ₹745.19 Cr ₹1,325.49 Cr ₹731.36 Cr ₹195.64 Cr ₹628.83 Cr ₹1,261.83 Cr ₹547.98 Cr ₹143.76 Cr ₹514.06 Cr ₹1,005.42 Cr
  attributable to Owners ₹872.36 Cr ₹251.79 Cr ₹741.19 Cr ₹1,317.02 Cr ₹726.49 Cr ₹185.15 Cr ₹619.61 Cr ₹1,252.6 Cr ₹537.27 Cr ₹131.97 Cr ₹501.07 Cr ₹993.81 Cr
  attributable to NCI ₹6.36 Cr ₹8.22 Cr ₹4 Cr ₹8.46 Cr ₹4.87 Cr ₹10.5 Cr ₹9.21 Cr ₹9.23 Cr ₹10.71 Cr ₹11.79 Cr ₹12.99 Cr ₹11.61 Cr
Other Comprehensive Income ₹91.41 Cr ₹260.15 Cr ₹134.04 Cr ₹22.27 Cr ₹17.52 Cr ₹77.11 Cr -₹19.69 Cr -₹19.8 Cr ₹20.11 Cr -₹21.62 Cr -₹9.59 Cr ₹4.87 Cr
Total Comprehensive Income ₹970.12 Cr ₹520.15 Cr ₹879.24 Cr ₹1,347.75 Cr ₹748.88 Cr ₹272.75 Cr ₹609.13 Cr ₹1,242.03 Cr ₹568.09 Cr ₹122.15 Cr ₹504.47 Cr ₹1,010.29 Cr
EBITDA (computed) ₹1,572.46 Cr ₹738.36 Cr ₹1,295.4 Cr ₹2,075.93 Cr ₹1,292.02 Cr ₹624.61 Cr ₹1,175.37 Cr ₹2,035.24 Cr ₹997.11 Cr ₹427.4 Cr ₹900.65 Cr ₹1,552.62 Cr
Basic EPS ₹2.58 ₹0.74 ₹2.19 ₹3.89 ₹2.15 ₹0.56 ₹1.91 ₹9.64 ₹4.14 ₹1.02 ₹3.86 ₹7.65
Diluted EPS ₹2.58 ₹0.74 ₹2.19 ₹3.89 ₹2.15 ₹0.56 ₹1.91 ₹9.63 ₹4.13 ₹1.02 ₹3.85 ₹7.65
Latest 12 quarters shown of 25 on record.
Metrics FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹14,349 Cr ₹12,633 Cr ₹10,596 Cr ₹6,595.74 Cr ₹4,876.45 Cr
Other Income ₹353.94 Cr ₹146.14 Cr ₹143.76 Cr ₹57.3 Cr ₹71.99 Cr
Total Income ₹14,703 Cr ₹12,779 Cr ₹10,740 Cr ₹6,653.04 Cr ₹4,948.44 Cr
Cost of Materials Consumed ₹6,362.23 Cr ₹5,902.78 Cr ₹5,459.3 Cr ₹3,085.81 Cr ₹2,131.33 Cr
Purchases of Stock-in-Trade ₹202.91 Cr ₹149.43 Cr ₹120.18 Cr ₹119.43 Cr ₹87.48 Cr
Changes in Inventories ₹38.84 Cr -₹61.82 Cr -₹302.35 Cr -₹76.07 Cr -₹3.14 Cr
Employee Benefit Expense ₹1,177.55 Cr ₹1,036.8 Cr ₹920.47 Cr ₹741.12 Cr ₹695.06 Cr
Finance Costs ₹349.66 Cr ₹241.1 Cr ₹154.26 Cr ₹155.14 Cr ₹249.02 Cr
Depreciation & Amortisation ₹617.91 Cr ₹518.33 Cr ₹483.13 Cr ₹399.83 Cr ₹412.82 Cr
Other Expenses ₹2,883.5 Cr ₹2,624.19 Cr ₹2,220.08 Cr ₹1,546.25 Cr ₹1,106.66 Cr
Total Expenses ₹11,633 Cr ₹10,411 Cr ₹9,055.08 Cr ₹5,971.52 Cr ₹4,679.23 Cr
Profit Before Exceptional Items & Tax ₹3,069.94 Cr ₹2,368.16 Cr ₹1,684.5 Cr ₹681.52 Cr ₹269.21 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 -₹66.53 Cr
Profit Before Tax ₹3,069.94 Cr ₹2,368.16 Cr ₹1,684.5 Cr ₹681.52 Cr ₹202.68 Cr
Total Tax Expense ₹749.58 Cr ₹593.04 Cr ₹414.3 Cr ₹192.04 Cr -₹23.75 Cr
Net Profit ₹2,320.36 Cr ₹1,775.13 Cr ₹1,270.2 Cr ₹489.49 Cr ₹226.43 Cr
Other Comprehensive Income ₹20.81 Cr -₹2.08 Cr ₹8.06 Cr ₹5.63 Cr -₹8.79 Cr
Total Comprehensive Income ₹2,341.17 Cr ₹1,773.05 Cr ₹1,278.26 Cr ₹495.11 Cr ₹217.64 Cr
EBITDA (computed) ₹4,037.5 Cr ₹3,127.59 Cr ₹2,321.89 Cr ₹1,236.5 Cr ₹931.04 Cr
Basic EPS ₹7.11 ₹13.66 ₹19.56 ₹11.30 ₹7.84
Diluted EPS ₹7.11 ₹13.66 ₹19.55 ₹11.30 ₹7.84
Metrics FY 2024 FY 2023 FY 2022
Total Assets ₹19,484 Cr ₹14,009 Cr ₹11,069 Cr
Non-current Assets ₹14,146 Cr ₹11,074 Cr ₹8,617.05 Cr
Current Assets ₹5,338.05 Cr ₹2,935.13 Cr ₹2,451.9 Cr
Property, Plant & Equipment ₹8,633.15 Cr ₹6,391.19 Cr ₹5,202.07 Cr
Inventories ₹1,688.71 Cr ₹1,535.87 Cr ₹1,426.15 Cr
Trade Receivables ₹199.76 Cr ₹212.94 Cr ₹150.24 Cr
Cash & Equivalents ₹2,058.08 Cr ₹49.48 Cr ₹47.39 Cr
Equity (Net Worth) ₹16,559 Cr ₹7,075.8 Cr ₹5,517.4 Cr
Equity Share Capital ₹676.3 Cr ₹649.61 Cr ₹649.55 Cr
Borrowings (Non-current) ₹186.17 Cr ₹3,114.91 Cr ₹1,765 Cr
Borrowings (Current) ₹695.04 Cr ₹1,767.19 Cr ₹1,829.96 Cr
Total Debt (computed) ₹881.21 Cr ₹4,882.1 Cr ₹3,594.96 Cr
Current Liabilities ₹2,173.32 Cr ₹3,292.94 Cr ₹3,268.31 Cr
Total Liabilities ₹2,925.27 Cr ₹6,933.65 Cr ₹5,551.54 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2024 FY 2023 FY 2022 FY 2021
Operating Cash Flow ₹2,966.94 Cr ₹1,952.88 Cr ₹1,558.79 Cr ₹867.86 Cr
Investing Cash Flow -₹3,687.09 Cr -₹2,769.57 Cr -₹1,509.31 Cr -₹725.33 Cr
Financing Cash Flow ₹2,728.75 Cr ₹818.78 Cr -₹26.23 Cr -₹154.79 Cr
Capital Expenditure ₹2,383.31 Cr ₹2,646.45 Cr ₹1,348.49 Cr ₹630.45 Cr
Free Cash Flow (computed) ₹583.64 Cr -₹693.58 Cr ₹210.3 Cr ₹237.42 Cr
Dividends Paid ₹324.82 Cr ₹227.35 Cr ₹162.39 Cr ₹108.26 Cr
Net Change in Cash ₹2,008.6 Cr ₹2.09 Cr ₹23.24 Cr -₹12.26 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹4,500.55 Cr ₹2,135.29 Cr ₹3,063.98 Cr ₹5,305.02 Cr ₹4,052.53 Cr ₹2,014.03 Cr ₹3,086.84 Cr ₹5,801.59 Cr ₹3,446.15 Cr ₹1,846.3 Cr ₹2,892.38 Cr ₹4,672.29 Cr
Other Income ₹74.32 Cr ₹214.43 Cr ₹149.69 Cr ₹90.01 Cr ₹59.8 Cr ₹153.9 Cr ₹100.18 Cr ₹67.25 Cr ₹32.61 Cr ₹51.08 Cr ₹31.04 Cr ₹45.52 Cr
Total Income ₹4,574.88 Cr ₹2,349.72 Cr ₹3,213.68 Cr ₹5,395.04 Cr ₹4,112.33 Cr ₹2,167.93 Cr ₹3,187.02 Cr ₹5,868.84 Cr ₹3,478.76 Cr ₹1,897.38 Cr ₹2,923.42 Cr ₹4,717.81 Cr
Cost of Materials Consumed ₹2,308.76 Cr ₹1,100.78 Cr ₹1,262.2 Cr ₹2,171.68 Cr ₹2,067.23 Cr ₹1,023.93 Cr ₹1,259.34 Cr ₹2,405.13 Cr ₹1,673.83 Cr ₹959.34 Cr ₹1,298.34 Cr ₹1,942.37 Cr
Purchases of Stock-in-Trade ₹21.69 Cr ₹21.22 Cr ₹6.14 Cr ₹57.73 Cr ₹55.37 Cr ₹70.74 Cr ₹19.72 Cr ₹35.59 Cr ₹76.86 Cr ₹21.82 Cr ₹22.15 Cr ₹50.9 Cr
Changes in Inventories -₹239.6 Cr -₹167.46 Cr ₹127.81 Cr ₹265.19 Cr -₹212.58 Cr -₹202.1 Cr ₹132.15 Cr ₹274.57 Cr -₹165.78 Cr -₹135.53 Cr -₹33.4 Cr ₹274.97 Cr
Employee Benefit Expense ₹329.83 Cr ₹319.39 Cr ₹302.97 Cr ₹330.43 Cr ₹307.44 Cr ₹277.11 Cr ₹304.84 Cr ₹320.93 Cr ₹274.68 Cr ₹253.75 Cr ₹261.28 Cr ₹269.05 Cr
Finance Costs ₹4.26 Cr ₹12.82 Cr ₹7.94 Cr ₹3.69 Cr ₹7.8 Cr ₹63.89 Cr ₹98.64 Cr ₹103.17 Cr ₹83.96 Cr ₹66.55 Cr ₹55.69 Cr ₹62.3 Cr
Depreciation & Amortisation ₹198.98 Cr ₹185.28 Cr ₹172.03 Cr ₹180.11 Cr ₹165.01 Cr ₹154.33 Cr ₹157.31 Cr ₹166.81 Cr ₹139.46 Cr ₹125.24 Cr ₹127.98 Cr ₹129.49 Cr
Other Expenses ₹907.52 Cr ₹535.98 Cr ₹578.07 Cr ₹838.51 Cr ₹824.76 Cr ₹521.22 Cr ₹569.84 Cr ₹1,026.78 Cr ₹765.66 Cr ₹452.7 Cr ₹636.8 Cr ₹827.14 Cr
Total Expenses ₹3,531.44 Cr ₹2,008.01 Cr ₹2,457.15 Cr ₹3,847.34 Cr ₹3,215.01 Cr ₹1,909.13 Cr ₹2,541.83 Cr ₹4,332.98 Cr ₹2,848.67 Cr ₹1,743.87 Cr ₹2,368.82 Cr ₹3,556.22 Cr
Profit Before Exceptional Items & Tax ₹1,043.44 Cr ₹341.71 Cr ₹756.53 Cr ₹1,547.7 Cr ₹897.31 Cr ₹258.8 Cr ₹645.19 Cr ₹1,535.86 Cr ₹630.09 Cr ₹153.51 Cr ₹554.61 Cr ₹1,161.58 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹1,043.44 Cr ₹341.71 Cr ₹756.53 Cr ₹1,547.7 Cr ₹897.31 Cr ₹258.8 Cr ₹645.19 Cr ₹1,535.86 Cr ₹630.09 Cr ₹153.51 Cr ₹554.61 Cr ₹1,161.58 Cr
Total Tax Expense ₹255.53 Cr ₹80.69 Cr ₹179.12 Cr ₹387.54 Cr ₹219.25 Cr ₹50.18 Cr ₹152.85 Cr ₹385.73 Cr ₹160.82 Cr ₹34.88 Cr ₹139 Cr ₹293.61 Cr
Net Profit ₹787.91 Cr ₹261.02 Cr ₹577.4 Cr ₹1,160.16 Cr ₹678.06 Cr ₹208.62 Cr ₹492.34 Cr ₹1,150.14 Cr ₹469.27 Cr ₹118.63 Cr ₹415.61 Cr ₹867.97 Cr
Other Comprehensive Income ₹2.1 Cr ₹20.56 Cr ₹1.44 Cr -₹2.23 Cr ₹46.6 Lakh ₹15.78 Cr ₹2.02 Cr -₹1.59 Cr ₹4.6 Cr -₹3.04 Cr ₹15.9 Lakh -₹1.42 Cr
Total Comprehensive Income ₹790.01 Cr ₹281.58 Cr ₹578.84 Cr ₹1,157.93 Cr ₹678.53 Cr ₹224.39 Cr ₹494.36 Cr ₹1,148.54 Cr ₹473.88 Cr ₹115.59 Cr ₹415.76 Cr ₹866.55 Cr
EBITDA (computed) ₹1,246.68 Cr ₹539.81 Cr ₹936.49 Cr ₹1,731.49 Cr ₹1,070.12 Cr ₹477.02 Cr ₹901.13 Cr ₹1,805.84 Cr ₹853.51 Cr ₹345.3 Cr ₹738.27 Cr ₹1,353.38 Cr
Basic EPS ₹2.33 ₹0.77 ₹1.71 ₹3.43 ₹2.01 ₹0.63 ₹1.52 ₹8.85 ₹3.61 ₹0.91 ₹3.20 ₹6.68
Diluted EPS ₹2.33 ₹0.77 ₹1.71 ₹3.43 ₹2.00 ₹0.63 ₹1.51 ₹8.85 ₹3.61 ₹0.91 ₹3.20 ₹6.68
Latest 12 quarters shown of 25 on record.
Want more history and ratios?
You're viewing the latest exchange-filed financials for Varun Beverages Limited. The full report adds 10+ years of line-item history, 20+ ratios, peer benchmarks and a downloadable PDF.
10+ years of history 20+ ratios & benchmarks Downloadable PDF

Shareholding Pattern of Varun Beverages Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 59.44%, foreign institutional investors hold 19.51%, domestic institutional investors hold 14.40%, retail and other public shareholders hold 6.65% of Varun Beverages Limited. The company had 877,604 shareholders on record.

Promoters: 59.44%DII (Domestic Institutional): 14.40%FII (Foreign Institutional): 19.51%Retail & Others: 6.65%
Mar 2026
QUARTER
59.44% Promoters
14.40% DII (Domestic Institutional)
19.51% FII (Foreign Institutional)
6.65% Retail & Others
Promoter holding - history
Now 59.44% · Mar 2026High 80.36% · Oct 2016Low 59.44% · Sep 2025
58%64%70%76%82%Oct 2016Mar 2019Jun 2021Dec 2023Mar 2026Oct 2016: 80.36%Dec 2016: 73.59%Mar 2017: 73.66%Jun 2017: 73.62%Sep 2017: 73.59%Dec 2017: 73.59%Mar 2018: 73.57%Jun 2018: 73.57%Sep 2018: 73.57%Dec 2018: 73.56%Mar 2019: 73.56%Jun 2019: 73.56%Jul 2019: 73.56%Sep 2019: 69.81%Dec 2019: 68.43%Mar 2020: 68.04%Jun 2020: 66.40%Sep 2020: 66.40%Dec 2020: 66.40%Mar 2021: 66.40%Jun 2021: 65.82%Sep 2021: 64.89%Dec 2021: 64.89%Mar 2022: 64.89%Jun 2022: 63.90%Sep 2022: 63.90%Dec 2022: 63.90%Mar 2023: 63.90%Jun 2023: 63.62%Sep 2023: 63.10%Dec 2023: 63.09%Mar 2024: 62.91%Jun 2024: 62.66%Sep 2024: 62.66%Nov 2024: 60.20%Dec 2024: 60.20%Mar 2025: 60.23%Jun 2025: 59.82%Sep 2025: 59.44%Dec 2025: 59.44%Mar 2026: 59.44%80.36%59.44%59.44%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters59.44%59.44%59.44%59.82%60.23%60.20%
Public40.56%40.56%40.56%40.18%39.77%39.80%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
Promoters59.44%60.23%62.91%63.90%64.89%66.40%68.04%73.56%73.57%73.66%
Public40.56%39.77%37.09%36.10%35.11%33.60%31.96%26.44%26.43%26.34%
Promoter change (YoY, %pts)-0.79-2.68-0.99-0.99-1.51-1.64-5.52-0.01-0.09-

Board & Governance of Varun Beverages Limited

As per the corporate governance filing with NSE for the quarter ended 31-DEC-2025, the board of Varun Beverages Limited has 10 directors - 5 independent and 3 executive. The board is chaired by Ravi Kant Jaipuria.

DirectorPositionOn board sinceListed boards
Ravi Kant Jaipuria Non-Executive - Non Independent Director · Chairperson 1995-06-16 4
Varun Jaipuria Executive Director 2009-01-01 3
Raj Pal Gandhi Executive Director 2004-10-21 3
Rajinder Jeet Singh Bagga Executive Director 2019-05-02 1
Naresh Trehan Non-Executive - Non Independent Director 2024-04-21 2
Ravi Gupta Non-Executive - Independent Director 2018-03-19 4
Abhiram Seth Non-Executive - Independent Director 2023-05-02 2
Anil Kumar Sondhi Non-Executive - Independent Director 2023-05-02 1
Sita Khosla Non-Executive - Independent Director 2018-02-16 1
Rashmi Dhariwal Non-Executive - Independent Director 2018-03-19 4
Board Committees
CommitteeMembers
Audit Committee Ravi Gupta (Chairperson), Rashmi Dhariwal, Sita Khosla
Nomination and remuneration committee Rashmi Dhariwal (Chairperson), Ravi Kant Jaipuria, Ravi Gupta
Stakeholders Relationship Committee Sita Khosla (Chairperson), Raj Pal Gandhi, Rashmi Dhariwal
Risk Management Committee Ravi Gupta (Chairperson), Rashmi Dhariwal, Sita Khosla
Corporate Social Responsibility Committee Rashmi Dhariwal (Chairperson), Ravi Kant Jaipuria, Varun Jaipuria, Raj Pal Gandhi

Group Structure of Varun Beverages Limited

Varun Beverages Limited has 2 subsidiary companies, 1 joint venture, and 1 associated company. This group structure data is as of FY 2023. The corporate group structure reflects Varun Beverages Limited's business expansion strategy and organizational complexity.

2
Subsidiary companies
1
Joint ventures
1
Associated companies
Key Subsidiaries
Company Name CIN Shares Held
Clean Max Tav Private Limited U40300MH2022PTC389259 -
Lunarmech Technologies Private Limited U72900DL2009PTC190619 -

Showing major subsidiaries. Total: 2.

Charges & Borrowings of Varun Beverages Limited

Open charges
₹3,164.8 Cr
Satisfied charges
₹16,666 Cr
Breakdown by lending institutions
Others₹3,164.80 Cr
Latest charge details
DateLenderAmountStatus
28 Jul 2025 Others ₹150 Cr Open
27 Feb 2017 Others ₹250 Cr Open
18 Feb 2016 Others ₹2,764.8 Cr Open
12 Aug 2024 Hdfc Bank Limited ₹1,000 Cr Satisfied
12 Mar 2024 Hdfc Bank Limited ₹350 Cr Satisfied

Total charge records: 214 View all charges

Employees and EPFO Compliance at Varun Beverages Limited

Varun Beverages Limited has a workforce of 8,184 employees as of Apr 06, 2024.

Employee count
8,184
Active EPFO establishments
36
Employee growth
16.76%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Varun Beverages Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Varun Beverages Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Varun Beverages Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Varun Beverages Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Varun Beverages Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Varun Beverages Limited

MSME Payment Delays by Varun Beverages Limited

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Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Varun Beverages Limited

Subsidiaries & Group Companies of Varun Beverages Limited

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Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Varun Beverages Limited

MCA Filings & Documents of Varun Beverages Limited

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Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Varun Beverages Limited

Charges
27 Nov 2025
A charge with Others of Rs. 150.00 Cr registered on 28 Jul 2025 with Charge ID 101133845 was modified on 27 Nov 2025.
Directors
04 Aug 2025
Pankaj Madan was appointed as a Cfo on 04 Aug 2025 & has been associated with this company since 11 months 4 days.
Charges
28 Jul 2025
A charge with Others amounted to Rs. 150.00 Cr with Charge ID 101133845 was registered on 28 Jul 2025.
Charges
07 May 2025
A charge registered on 12 Aug 2024 via Charge ID 100968992 with Hdfc Bank Limited was fully satisfied on 07 May 2025.
Charges
28 Apr 2025
A charge registered on 25 May 2022 via Charge ID 100575898 with Others was fully satisfied on 28 Apr 2025.
Charges
25 Apr 2025
A charge registered on 17 Jun 2021 via Charge ID 100453674 with Others was fully satisfied on 25 Apr 2025.

Recent News on Varun Beverages Limited

Companies raise over ₹1.25 lakh crore from QIPs in FY25
24 Mar 2025 · Thehindubusinessline

Frequently Asked Questions about Varun Beverages Limited

Varun Beverages Limited is an active public limited company in the food and beverages sector based in New Delhi, Delhi, India. It was incorporated on 16 June 1995 (31+ years old) and is registered under CIN L74899DL1995PLC069839. Listed on BSE: 540180 and NSE: VBL. The company has 8,184 employees.

Varun Beverages Limited reported revenue of ₹12,779 Cr for FY 2023 (up 18.99% YoY).

The current directors of Varun Beverages Limited are:

The primary industry of Varun Beverages Limited is food and beverages. The company specifically operates in non-alcoholic beverage manufacturing and distribution. The company is currently active in this sector.

Yes. Varun Beverages Limited is listed on both BSE (code: 540180) and NSE (symbol: VBL).

Varun Beverages Limited can be reached at the registered office: F – 27 Okhla Indl.Area Phase I, New Delhi, Delhi, India – 110020, or through the website varunpepsi.com.

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Financials, directors, compliance, charges and shareholding - sourced from MCA, SEBI and RBI filings.

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