Varun Beverages Balance Sheet

Financials in millions INR. Fiscal year is January - December.

Millions INR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	17,842	22,663	2,422	1,543	1,508
Short-Term Investments	2,142	1,836	2,150	1,309	-
Cash & Short-Term Investments	19,983	24,499	4,572	2,852	1,508
Cash Growth	-18.43%	435.81%	60.33%	89.18%	44.18%
Accounts Receivable	12,490	8,458	3,594	2,993	2,212
Other Receivables	11,391	8,086	7,109	3,776	2,277
Receivables	23,882	16,545	10,703	6,770	4,489
Inventory	29,518	27,912	21,505	19,939	14,481
Prepaid Expenses	-	-	-	-	235.82
Other Current Assets	5,578	9,684	5,576	4,480	4,748
Total Current Assets	78,960	78,640	42,356	34,040	25,461
Property, Plant & Equipment	154,727	131,480	97,601	69,637	62,246
Long-Term Investments	1,753	604.63	221.32	9.32	0.01
Goodwill	3,542	3,009	242.3	242.3	242.3
Other Intangible Assets	12,028	11,195	5,471	5,509	5,586
Long-Term Deferred Tax Assets	244.4	196.31	-	-	24.07
Other Long-Term Assets	4,135	6,095	5,980	6,744	2,260
Total Assets	255,652	231,439	151,872	116,182	95,819
Accounts Payable	14,013	15,604	7,582	8,243	7,118
Accrued Expenses	4,560	4,130	4,082	4,004	3,401
Short-Term Debt	12,723	12,866	10,032	6,277	6,285
Current Portion of Long-Term Debt	2,114	2,370	10,022	13,401	9,001
Current Portion of Leases	842.68	1,049	390.38	235.77	136.02
Current Income Taxes Payable	122.79	656.23	390.02	755.68	139.41
Current Unearned Revenue	120.01	117.37	39.91	2.27	14.06
Other Current Liabilities	6,244	8,452	8,993	6,770	4,109
Total Current Liabilities	40,739	45,244	41,532	39,688	30,202
Long-Term Debt	5,404	8,407	31,889	17,270	18,133
Long-Term Leases	3,998	3,571	1,979	1,654	312.63
Long-Term Unearned Revenue	3.58	47.31	68.4	5.94	6.73
Pension & Post-Retirement Benefits	1,142	1,166	1,471	1,432	1,526
Long-Term Deferred Tax Liabilities	6,192	4,879	3,430	3,368	3,111
Other Long-Term Liabilities	763.07	728.04	655.61	609.2	559.92
Total Liabilities	58,242	64,043	81,025	64,028	53,852
Common Stock	6,764	6,763	6,496	6,496	4,330
Additional Paid-In Capital	97,064	96,939	22,637	22,570	24,735
Retained Earnings	94,517	69,026	46,108	27,843	14,412
Comprehensive Income & Other	-2,558	-6,630	-5,875	-5,884	-2,678
Total Common Equity	195,787	166,098	69,365	51,024	40,799
Minority Interest	1,623	1,298	1,482	1,131	1,168
Shareholders' Equity	197,410	167,396	70,847	52,155	41,967
Total Liabilities & Equity	255,652	231,439	151,872	116,182	95,819
Total Debt	25,082	28,263	54,313	38,838	33,868
Net Cash (Debt)	-5,099	-3,763	-49,741	-35,986	-32,360
Net Cash Per Share	-1.51	-1.15	-15.31	-11.08	-9.96
Filing Date Shares Outstanding	3,382	3,382	3,248	3,248	3,248
Total Common Shares Outstanding	3,382	3,382	3,248	3,248	3,248
Working Capital	38,221	33,395	824.18	-5,647	-4,741
Book Value Per Share	57.89	49.12	21.36	15.71	12.56
Tangible Book Value	180,217	151,894	63,652	45,272	34,971
Tangible Book Value Per Share	53.29	44.92	19.60	13.94	10.77
Land	9,435	8,490	8,432	7,798	7,203
Buildings	40,227	30,061	19,210	15,541	14,415
Machinery	140,278	108,648	72,459	58,759	54,762
Construction In Progress	2,663	11,623	19,222	6,066	4,966

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.