Varun Beverages Limited — PPTs, 29-10-2025: Investor Presentation

Varun Beverages recorded Q3 consolidated sales volumes up 2.4% YoY to 273.8 million cases. International markets, particularly South Africa, drove growth with a 9% volume increase, while India volumes were flat due to prolonged rainfall.

The company is strategically expanding into new territories with a wholly-owned subsidiary in Kenya and diversifying its portfolio by test marketing Carlsberg beer in some African markets through an exclusive distribution agreement. Backward integration continues to enhance efficiency.

Recent developments include the commissioning of a new snacks facility in Morocco, with a Zimbabwe plant progressing. A new joint venture, White Peak Refrigeration, has also been formed to manufacture visi-coolers in India.

For Q3, Net Revenue grew 1.9% to ₹4,896.65 Cr. EBITDA remained stable at ₹1,147.38 Cr (-0.3%), while Net Profit jumped 18.5% to ₹745.19 Cr, boosted by lower finance costs.

Management sees significant long-term potential in India's beverage industry due to low per capita consumption and rising rural penetration, with ongoing investments strengthening execution for future demand.