Varun BeveragesNSE: VBLBSE: 540180Fast Moving Consumer Goods · Other BeveragesVarun Beverages Quarterly Results
In Mar 2026, Varun Beverages reported revenue of ₹6,722 crore (up 55.1% on the prior quarter) and net profit of ₹872 crore (up 246.5%). 32 reported quarters are tabulated below.
- Latest quarter revenue
- ₹6,722 Cr
- EBITDA
- ₹1,529 Cr
- Operating margin
- 22.75%
- Profit after tax
- ₹872 Cr
- Net margin
- 12.98%
- EPS
- ₹2.58
- Latest quarter
- Mar 2026
- Quarters reported
- 32
Varun Beverages quarterly results
Reported quarterly performance for Varun Beverages, oldest to newest. Figures in ₹ crore unless a row states otherwise.
| Line item | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 5,700 | 3,938 | 2,731 | 4,398 | 7,334 | 4,932 | 3,818 | 5,680 | 7,163 | 5,048 | 4,335 | 6,722 |
| Sales Growth YoY % | 13.6% | 21.22% | 20.99% | 11.27% | 28.67% | 25.25% | 39.79% | 29.15% | -2.33% | 2.35% | 13.55% | 18.34% |
| Other Income | 42 | 19 | 9 | 8 | 44 | 24 | 45 | 28 | 77 | 148 | 99 | 44 |
| Total Income | 5,741 | 3,956 | 2,740 | 4,406 | 7,378 | 4,956 | 3,862 | 5,708 | 7,240 | 5,196 | 4,434 | 6,765 |
| Cost of Goods Sold (COGS) | 2,667 | 1,730 | 1,157 | 1,888 | 3,261 | 2,136 | 1,620 | 2,529 | 3,191 | 2,119 | 1,876 | 2,946 |
| Cost of Materials Consumed | 2,219 | 1,635 | 1,209 | 1,931 | 2,872 | 1,785 | 1,705 | 2,671 | 2,845 | 1,899 | 1,922 | 3,152 |
| Purchases of Stock-in-Trade | 129 | 110 | 102 | 235 | 160 | 146 | 144 | 71 | 99 | 89 | 110 | 65 |
| Changes in Inventories | 319 | -15 | -154 | -279 | 228 | 205 | -230 | -213 | 247 | 132 | -156 | -272 |
| Gross Profit | 3,033 | 2,208 | 1,574 | 2,510 | 4,073 | 2,796 | 2,197 | 3,151 | 3,972 | 2,929 | 2,459 | 3,776 |
| Gross Margin % | 53.22% | 56.07% | 57.64% | 57.08% | 55.54% | 56.68% | 57.56% | 55.47% | 55.45% | 58.02% | 56.72% | 56.18% |
| Total Operating Expenses | 1,522 | 1,326 | 1,156 | 1,522 | 2,082 | 1,645 | 1,617 | 1,887 | 1,973 | 1,781 | 1,819 | 2,247 |
| Employee Benefit Expense | 365 | 372 | 371 | 394 | 499 | 513 | 479 | 512 | 550 | 553 | 586 | 619 |
| Other Expenses | 1,158 | 954 | 784 | 1,128 | 1,583 | 1,132 | 1,138 | 1,375 | 1,423 | 1,228 | 1,233 | 1,628 |
| EBITDA | 1,511 | 882 | 418 | 989 | 1,991 | 1,151 | 580 | 1,264 | 1,999 | 1,147 | 639 | 1,529 |
| OPM % | 26.51% | 22.4% | 15.32% | 22.48% | 27.15% | 23.34% | 15.19% | 22.25% | 27.9% | 22.73% | 14.75% | 22.75% |
| Total Non-Operating Expenses | 241 | 233 | 240 | 281 | 372 | 375 | 370 | 314 | 343 | 353 | 377 | 405 |
| Depreciation & Amortisation | 172 | 171 | 166 | 188 | 242 | 257 | 261 | 273 | 306 | 308 | 330 | 357 |
| Finance Costs | 69 | 63 | 74 | 94 | 129 | 119 | 109 | 41 | 37 | 45 | 47 | 49 |
| Exceptional Items (Before Tax) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax (PBT) | 1,311 | 667 | 188 | 716 | 1,664 | 800 | 255 | 978 | 1,733 | 943 | 361 | 1,167 |
| Tax Expense | 306 | 153 | 44 | 168 | 401 | 171 | 58 | 246 | 407 | 196 | 99 | 284 |
| Current Tax | 288 | 142 | 47 | 148 | 397 | 174 | 33 | 229 | 366 | 179 | 66 | 270 |
| Deferred Tax | 18 | 11 | -3 | 20 | 5 | -2 | 26 | 17 | 40 | 16 | 33 | 14 |
| Effective Tax % | 23.31% | 22.91% | 23.55% | 23.43% | 24.12% | 21.41% | 22.95% | 25.19% | 23.46% | 20.76% | 27.36% | 24.37% |
| Total Profit for Period | 1,005 | 514 | 144 | 548 | 1,262 | 629 | 196 | 731 | 1,325 | 745 | 260 | 879 |
| Less: Non-controlling Interests | 12 | 13 | 12 | 11 | 9 | 9 | 10 | 5 | 8 | 4 | 8 | 6 |
| Net Profit (Owner's PAT) | 994 | 501 | 132 | 537 | 1,253 | 620 | 185 | 726 | 1,317 | 741 | 252 | 872 |
| Net Profit Margin % | 17.44% | 12.72% | 4.83% | 12.22% | 17.08% | 12.56% | 4.85% | 12.79% | 18.39% | 14.68% | 5.81% | 12.98% |
| PAT Growth YoY % | 26.21% | 31.5% | 76.55% | 25.22% | 26.04% | 23.66% | 40.29% | 35.22% | 5.14% | 19.62% | 35.99% | 20.08% |
| Earnings Per Share (EPS) | ₹3.06 | ₹1.54 | ₹0.41 | ₹1.65 | ₹3.86 | ₹1.91 | ₹0.55 | ₹2.15 | ₹3.89 | ₹2.19 | ₹0.74 | ₹2.58 |
| Diluted Shares Outstanding (Cr.) | 325 | 325 | 325 | 325 | 325 | 325 | 338 | 338 | 338 | 338 | 338 | 338 |
| Profit/Loss from Associates | -0 | -0 | 0 | -0 | -1 | -0 | -1 | -1 | -1 | -2 | -3 | -4 |
| Other Comprehensive Income (Net of Tax) | 5 | -10 | -22 | 20 | -20 | -20 | 77 | 18 | 22 | 134 | 260 | 91 |
| Expenses | 4,430 | 3,289 | 2,552 | 3,690 | 5,714 | 4,156 | 3,607 | 4,730 | 5,507 | 4,253 | 4,072 | 5,598 |
| Material Cost % | 38.93% | 41.51% | 44.26% | 43.9% | 39.17% | 36.19% | 44.67% | 47.03% | 39.72% | 37.61% | 44.34% | 46.9% |
| Employee Cost % | 6.4% | 9.44% | 13.6% | 8.95% | 6.81% | 10.4% | 12.55% | 9.01% | 7.67% | 10.96% | 13.52% | 9.21% |
| Other Cost % | 20.31% | 24.24% | 28.73% | 25.65% | 21.58% | 22.94% | 29.82% | 24.22% | 19.87% | 24.32% | 28.45% | 24.22% |
| Interest Coverage (x) | 19.3 | 11.38 | 3.43 | 8.55 | 13.54 | 7.55 | 2.93 | 24.11 | 46.31 | 18.57 | 6.62 | 24.16 |
Showing the most recent 12 of 32 reported periods.
Varun Beverages revenue and profit trend
Reported quarterly revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.
How this is calculated
Figures are as reported to NSE/BSE by the company. Consolidated is shown where the company reports it, standalone otherwise; the basis is labelled on the table. Growth is computed against the same quarter of the previous year (YoY) and the immediately preceding quarter (QoQ).
Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.
Varun Beverages: frequently asked questions
What was Varun Beverages's revenue in Mar 2026?
Varun Beverages reported revenue of ₹6,722 crore in Mar 2026, up 55.1% on the previous quarter.
What was Varun Beverages's profit in Mar 2026?
Varun Beverages reported a net profit of ₹872 crore in Mar 2026, up 246.5% on the previous quarter.
What is Varun Beverages's EPS?
Varun Beverages reported earnings per share of ₹2.58 for Mar 2026.
What is Varun Beverages's operating margin?
Varun Beverages's operating margin for Mar 2026 was 22.75%.
When did Varun Beverages last report results?
The most recent reported quarter shown here is Mar 2026. 32 quarters of history are tabulated on this page.
Are these figures consolidated or standalone?
Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.
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The data, ratios and commentary about Varun Beverages Ltd (VBL) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.