Nagpur Investment：Varun Beverages Q2 Results： Topline rises 28%; board approves stock split

Varun Beverages Ltd. (VBL), one of PepsiCo❼largest franchise bottlers worldwide, reported revenue of ₹7,197 crore during the April to June quarter, which on a year-on-year basis, was a growth of 28%. The company follows a January-December calendar year format.

The company❼net profit for the period rose 26% to ₹1,252.6 crore, compared to ₹994 crore in the same period last year.

Earnings Before Interest, Tax, Depreciation and Amortisation surged by 31.8% to ₹1,991 crore, while EBITDA margin expanded by 70 basis points to 27.7% from 27% last year, led by higher gross margins.

India business volumes grew by 22.9% while International volumes (before BevCo volumes) was almost flat, primarily on account of volumes in Zimbabwe getting affected due to portfolio transition to zero sugar without affecting profits.

Along with the earnings announcement, the board of has also approved a stock split, with equity shares having a face value of ₹5 to be split into shares with a face value of ₹2.

The stock split is, however, subject to the approval of equity shareholders of the company, the filing added.

Record dare for the said corporate action is yet to be determined.

"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 seasonNagpur Investment. Meanwhile, our international markets remained relatively flat, moreover it was a seasonally weak quarter for African market," saidAgra Wealth Management

Jaipur Wealth Management