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Varun Beverages Ltd

Updated on October 14, 2020

Stock/Share Code - VBL

Varun Beverages is engaged in manufacturing, selling, bottling and distribution of beverages of PepsiCos brand in geographically pre-defined territories as per franchisee agreement with PepsiCo India Holdings Private Limited (PepsiCo India).

Below is the details of VBL Varun Beverages Ltd

Market Cap₹21,247 Cr.
Current Price ₹677.1 as on 20 Oct 20
52 Week High / Low Price₹870 / ₹482.2
Face Value₹10
Stock P/E78.83
Book Value₹140.58
Dividend Yield0.68 %
ROCE14.95 %
ROE13.79 %
Sales Growth (3yrs)23.52 %
SectorFMCG
IndustryFood - Processing - Indian
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company is expected to give good quarter Company has delivered good profit growth of 65.83% CAGR over last 5 years
Cons: Stock is trading at 5.24 times its book value Company has low interest coverage ratio. Promoter holding has decreased by -1.64% over last quarter Company has a low return on equity of 12.90% for last 3 years.

Varun Beverages Ltd Price Chart

Varun Beverages Ltd Price Chart

Varun Beverages Ltd Peer Comparison in FMCG

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Varun Beverages 78.83 ₹21,247.49 Cr. 0.68 ₹121.95 Cr. -68.08 -42.56 1410.59 14.95
2. Hatsun AgroProd. ₹827 102.84 ₹12,052.35 Cr. 0.54 ₹56.11 Cr. 9.61 -10.11 1279.28 13.50
3. Zydus Wellness ₹1,780.95 59.04 ₹9,326.02 Cr. 0.31 ₹89.2 Cr. -16.71 -13.36 537.37 6.04
4. KRBL ₹256.35 11.26 ₹6,166.04 Cr. 1.07 ₹125.74 Cr. -7.63 -37.26 764.02 20.92
5. Tasty Bite Eat. ₹10,320.1 89.57 ₹3,098.16 Cr. 0.02 ₹1.42 Cr. -81.53 -40.78 53.81 28.33
6. L T Foods ₹63.2 8.02 ₹1,792.73 Cr. 0.89 ₹78.84 Cr. 84.59 23.99 1215.44 13.26
7. Heritage Foods ₹302.35 ₹1,677.52 Cr. 0.70 ₹96.41 Cr. 381.81 -11.42 638.91 -13.89
8. Hindustan Foods ₹906 66.14 ₹1,517.99 Cr. 0.00 ₹4.28 Cr. -1.38 39.62 201.89 19.69

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Varun Beverages Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020
Sales -6693308981,7398094179862,4561,3398361,3141,411
YOY Sales Growth %9.03%29.42%28.61%27.27%21.03%26.30%9.81%41.25%65.42%100.45%33.29%-42.56%
Expenses -5183237331,2276374087951,7551,0657971,0931,094
Material Cost %44.38%36.70%45.12%48.36%45.01%39.45%47.38%48.99%44.09%42.10%44.65%47.97%
Employee Cost %12.37%23.67%11.42%6.36%12.60%23.11%11.40%6.39%13.67%21.37%13.96%11.62%
Operating Profit1517164511172919070127339221316
OPM %23%2%18%29%21%2%19%29%20%5%17%22%
Other Income320917284315131259-3611
Interest475355464251547782677369
Depreciation6970737875707410010410910798
Profit before tax66-1164540483-697753799-795159
Tax %24%40%26%28%23%22%28%29%34%31%-1,419%24%
Net Profit50-693428964-545538265-5477122
EPS in Rs1.83-2.521.2210.562.32-1.971.359.302.35-1.882.664.23
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Dec 2006Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019TTM
Sales -3207489661,1471,4611,7452,0192,8642,9803,0633,8625,6164,899
Sales Growth %9.11%29.04%18.82%27.37%19.40%15.72%41.87%4.04%2.79%26.11%45.40%
Expenses -2746468441,0081,2721,5161,6962,2892,2772,3382,9964,4114,050
Material Cost %54.97%61.93%61.61%61.46%58.82%59.29%57.96%51.94%45.84%45.85%45.94%46.51%
Manufacturing Cost %8.24%6.91%7.66%7.08%8.37%8.37%8.28%7.64%8.25%8.36%7.62%7.35%
Employee Cost %6.38%6.25%6.23%6.38%6.87%7.17%7.29%8.59%9.41%10.43%10.66%11.25%
Other Cost %15.81%11.26%11.91%12.96%12.98%12.08%10.49%11.76%12.90%11.69%13.36%13.43%
Operating Profit471021221391892283225757037258661,205849
OPM %15%14%13%12%13%13%16%20%24%24%22%21%17%
Other Income116130473342465046889845
Interest1339497298149158140389192196282291
Depreciation2635485697134152263249274296387419
Profit before tax1934371241-2255219114304463634184
Tax %26%34%33%25%-10%26%35%31%22%23%28%29%
Net Profit142225945-163515290236332449210
EPS in Rs11.770.000.006.2937.870.001.777.563.278.6012.1315.547.36
Dividend Payout %0%0%0%78%0%0%0%0%0%19%14%16%

Compounded Sales Growth

  • 10 Years:: 22.33%
  • 5 Years:: 22.70%
  • 3 Years:: 23.52%
  • TTM:: 4.95%

Compounded Profit Growth

  • 10 Years:: 33.95%
  • 5 Years:: 65.83%
  • 3 Years:: 70.43%
  • TTM:: -39.74%

Return on Equity

  • 3 Years:: 27.61%
  • 1 Year:: 13.90%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Dec 2006Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Jun 2020
Share Capital -858585827134334584182183183289289
Preference Capital7777770002004500000
Equity Capital88888134134134182183183289289
Reserves88109102106172891202771,9542,1142,4063,5783,770
Borrowings1333925558891,6301,9292,0311,7541,4602,0872,5353,2012,165
Other Liabilities -1892612592503563465871,9771,0039159621,3062,296
Trade Payables168370334777939914484178318339
Advance from Customers00048212157926864104
Other liability items1731791892133012474721,8217677637198841,956
Total Liabilities4187719241,2532,1662,4972,8724,1424,6005,2996,0868,3748,519
Fixed Assets -2934975867391,2221,7191,7332,9162,9923,2783,3225,4025,396
Gross Block4366637981,0021,6072,2131,9113,8134,0874,5544,7437,176
Accumulated Depreciation1431662112633854951788971,0961,2761,4211,774
CWIP4193610914810173269123395954
Investments270001011685233045016277749081,170
Other Assets -942553024056945995998891,0391,3811,6512,0051,898
Inventories2895122172186182214351360316418673726
Trade receivables31648387584035504795134131225
Cash Equivalents1512184814320153123272
Loans n Advances218478116172129116217297490531694449
Other asset items-20026271235231252320450565475426
Total Assets4187719241,2532,1662,4972,8724,1424,6005,2996,0868,3748,519

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Dec 2006Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Cash from Operating Activity -4834231222252378510752500742
Profit from operations591111341402282423495917277478951,212
Receivables-5-5-10-439155-17-2-59-508
Inventory1-39-27-48-14-32-137-944-103-147
Payables752-7-1-2-70471410000
Loans Advances000-50-336214-310000
Other WC items0000000086-18458102
Working capital changes38-45-10441134-4475-199-94-37
Interest paid-12-37-4400000-51-49-590
Direct taxes-2-10-15-5-10-2-4-37000-110
Other operating items0-38-27000000000
Cash from Investing Activity --26-181-158-226-412-445-500-360-1,108-809-704
Fixed assets purchased-30-190-161-226-302-246-180-245-659-351-566-652
Fixed assets sold4821486125276722
Investments purchased0000-90-224-302-586-35-350-73
Investments sold00000005223535073
Interest received0100-3-1103875344
Dividends received0000002103701822
Invest in subsidiaries00000000000-15
Loans to subsidiaries0000-290-55-102-217-273-156-21
Shares acq cancelled000000000000
Acquisition of companies00000000-281-211-112-1,625
Other investing items000091800-0-51136
Cash from Financing Activity --11155163180195195116-134353326-67
Proceeds from shares000000200070141900
Proceeds from debentures000000032018030000
Redemption of debentures00000000-5000-3000
Proceeds from borrowings00049363769547333280441261,930
Repayment of borrowings-1100-159-349-399-363-915000-1,270
Interest paid fin000-69-93-142-154-122-180-139-167-271
Dividends paid000-100000-46-46-68
Share application money0000040-4000000
Application money refund00000000-21000
Other financing items0155163-8400025092162319-26
Net Cash Flow1087-1541-616-416-29

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Ratios

Dec 2006Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
ROCE %10%13%10%10%6%9%14%16%12%14%15%
Debtor Days3631322815866611138
Inventory Turnover6.735.875.095.186.096.385.664.194.545.275.19

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.