Varun Beverages Limited — Investor Meet, 04-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Varun Beverages reported Q3 CY2025 revenue up 1.9% to Rs. 4,896.65 Cr, PAT surged 18.5% to Rs. 745.19 Cr, and EBITDA was stable at Rs. 1,147.38 Cr. Consolidated sales volumes rose 2.4%, driven by 9% international growth, though India saw flat volumes due to rains. Gross margins improved. Management expressed confidence in long-term domestic potential and international expansion via a Kenya subsidiary and test marketing Carlsberg beer in Southern Africa. Nimbooz and value-added dairy delivered strong growth. The debt-free company is prepared for competition, including the Rs. 10 price point, and has ample capacity for future double-digit growth.