Varun Beverages stock remains expensive, growth spurs bullish analyst views
The stock remains expensive in terms of valuations but the strong growth expectations have led to bullish analyst recommendations31-07-2024
31-07-2024
Varun Beverages Ltd - 540180 - Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of Postal Ballot Notice is attached.31-07-2024
Varun Beverages Ltd - 540180 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, link of audio recording of Investors & Analysts Conference Call held on July 30, 2024 (post declaration of Unaudited Financial Results of the Company for the Quarter and Half Year ended June 30, 2024) is as follows: Link: https://varunbeverages.com/wp-content/uploads/2024/07/VBL-Q2-CY2024.mp330-07-2024
Varun Beverages Results Earnings Call for Q2CY24
Conference Call with Varun Beverages Management and Analysts on Q2CY24 Performance and Outlook. Listen to the full earnings transcript.30-07-2024
Q2CY24 Quarterly & H1CY24 Half Yearly Result Announced for Varun Beverages Ltd.
Non-Alcoholic Beverages company Varun Beverages announced Q2FY24 & H1FY24 results: Q2FY24 Financial Highlights: Revenue grew 28.3% YoY to Rs 71,968.6 million EBITDA higher by 31.8% YoY to Rs 19,912.2 million PAT higher by 25.5% YoY to Rs 12,618.3 million H1FY24 Financial Highlights: Revenue grew 21.1% YoY to Rs 1,15,141.8 million EBITDA higher by 29.1% YoY to Rs 29,799.8 million PAT increased by 25.3% to Rs 18,098.2 million Commenting on the performance for Q2CY24 Ravi Jaipuria, Chairman, Varun Beverages said, “We are pleased to report robust performance for the second quarter of CY2024, achieving a consolidated sales volume growth of 28.1%, which includes volumes from BevCo. The impressive volume growth of 22.9% in India primarily contributed to this outstanding performance, supported by our expanded capacities, enhanced distribution network, and a strong summer season. Meanwhile, our international markets remained relatively flat, moreover it was a seasonally weak quarter for African market. We are excited to announce further expansion in our partnership with PepsiCo, having entered into an Exclusive Snacks Franchising Appointment to manufacture, distribute, and sell "Simba Munchiez" in Zimbabwe by October 2025 and in Zambia by April 2026. This follows our recent announcement to manufacture and package Cheetos in Morocco by May 2025. These agreements complement our existing distribution of PepsiCo’s portfolio, marking another significant step forward in our strong, symbiotic partnership. Additionally, we are pleased to share that we have commenced commercial production of carbonated soft drinks and packaged drinking water at our Greenfield facility in DRC. With the region representing an untapped market for PepsiCo, this expansion offers a huge growth opportunity for us. In line with our dividend policy, the Board of Directors has approved an interim dividend of 25% of the face value, i.e., Rs 1.25 per share. Additionally, the Board has considered and recommended the subdivision/split of existing equity shares of the Company from 1 equity share with a face value of Rs 5 each fully paid-up into such number of equity shares having face value of Rs 2 each fully paid-up. This is subject to the approval of equity shareholders of the Company. This is intended for wider retail participation. With strong performance in a key quarter, we are on track to deliver healthy double-digit growth in this calendar year. India remains a high-demand market with massive growth potential, driven by a growing consuming class and a young population. To capitalize on this demand, we are focused on further strengthening our infrastructure, distribution network, and product portfolio. With a focus on strategic growth and leveraging new opportunities in both India and international markets, we are confident in our ability to deliver sustainable value to all stakeholders.” Result PDF30-07-2024
Varun Beverages Ltd - 540180 - Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
The Board of Directors at their meeting held on July 30, 2024 approved alteration of Capital Clause of Memorandum of Association of the Company on account of sub-division/split subject to approval of Shareholders through Postal Ballot.30-07-2024
Varun Beverages Ltd - 540180 - Corporate Action-Outcome of Sub division / Stock Split
The Board of Directors at their meeting held on July 30, 2024 approved sub-division/split of existing Equity Shares of Rs. 5 each, fully paid-up, be sub-divided/split into such number of Equity Shares having face value of Rs. 2 each, fully paid-up subject to approval of Equity Shareholders through Postal Ballot.30-07-2024
Varun Beverages Ltd - 540180 - Record Date For Interim Dividend
The Board of Directors at their meeting held on July 30, 2024 approved Interim Dividend of Rs. 1.25 per Equity Share for FY 2024 and fixed August 9, 2024 as the Record Date.30-07-2024
Varun Beverages Ltd - 540180 - Corporate Action-Board approves Dividend
The Board of Directors at their meeting held on July 30, 2024 approved payment of Interim Dividend of Rs. 1.25 per Equity Share for FY 2024 and fixed August 9, 2024 as the Record Date.30-07-2024
Varun Beverages Ltd - 540180 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release30-07-2024