Varun Beverages: Expanding Its Footing in the African Market
We maintain our BUY rating on the stock with the revised TP of Rs 1,450/share (47x CY25EPS) vs. the earlier TP of Rs 1,200/share (45x CY25 EPS)
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Varun Beverages Ltd - Strong Volume Led Growth; Maintain BUY
VBL delivered robust all-around performance, which was led by volume growth of 15.4% YoY and an increase in realization growth, up 5.6% YoY.
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Varun Beverages Ltd - Soaring Temperature to Aid Volume Growth
VBL is the second largest franchisee of PepsiCo in the world (outside the USA). Products manufactured by VBL include Carbonated Soft Drinks -...
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Varun Beverages Ltd - Robust Performance; Maintain BUY
VBL delivered robust all-round performance, led by strong volume, and realization growth across regions and markets as the company continued its...
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Varun Beverages Ltd - Robust Performance; Beat in Expectations on All Fronts
The strong performance was led by a healthy revenue growth of ~32% YoY (~22% on a 3-Year CAGR), volume growth of 24% to 190 Mn cases, and...
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