India · Delayed Price · Currency is INR Varun Beverages Earnings Call Transcripts
Fiscal Year 2026
-
Q1 CY 2026 saw robust 16.3% volume growth and 18.1% revenue increase, driven by strong demand, new launches, and expanded distribution. Margin improvements and disciplined capital allocation supported profitability, while recent acquisitions and capacity additions position the business for sustained growth.
Fiscal Year 2025
-
Volumes and revenue grew robustly in 2025 despite weather challenges, with strong Q4 recovery and resilient margins. Expansion in Africa, new product launches, and minimal debt position the business for sustained growth, with double-digit volume growth targeted for 2026.
-
Q3 2025 saw 2.4% volume growth, led by 9% international gains, while India was flat due to weather. Gross margin improved to 56.7%, PAT rose 18.5%, and the company remains debt-free. Expansion includes new African ventures, snacks, and energy drinks.
-
Q2 2025 saw resilient performance with revenue down 2.5% due to unseasonal rains in India, but strong international growth and margin expansion. New plant capacity, product launches, and cost controls supported profitability, with a positive outlook contingent on weather recovery.
-
Q1 CY 2025 saw 30% sales volume growth and 29% revenue growth, led by strong India performance and South Africa integration. Margins remain robust despite competitive pressures, with new plants and product launches supporting future growth.
Fiscal Year 2024
-
Strong double-digit growth in 2024 was driven by expansion into new African markets and robust India performance, with revenue up 24.7% and EBITDA up 30.5%. The company became net debt-free, expanded capacity by 45% over 2022, and expects continued double-digit growth and margin improvement.
-
Q3 2024 saw 24.1% revenue growth and 30.5% EBITDA growth, driven by expanded distribution and international ramp-up, despite weather challenges in India. Major CapEx and QIP will fund further expansion, debt reduction, and new snack plants in Africa.
-
Q2 2024 saw 28.1% sales volume growth and 28.3% revenue growth, driven by strong India performance and new African investments. Margins improved, CapEx and debt rose, and management expects double-digit growth for the year.