Varun Beverages Q1 results: Pepsico’s bottling partner Varun Beverages, on Monday, April 27 announced their results for the quarter ended March 2026, wherein the company reported a consolidated net profit of ₹872.3 crore, which is up by 20% YoY. Meanwhile, the revenue from operations rose by 18.3% YoY.
The company’s revenue from operations stood at ₹6,721 crore, up from ₹5,680 crore reported in the corresponding quarter of the previous financial year.
The firm has also announced an interim dividend of ₹0.50 per share, fixing Friday, May 1 as the record date for determining the shareholder eligibility.
For the quarter ended March, revenue (ex-excise) rose 18% year-on-year to ₹6,574 crore. EBITDA increased 21% to ₹1,528.7 crore compared to ₹1,264 crore in the year-ago period, indicating strong operating leverage.
Margins also expanded, with EBITDA margin improving to 22.8% from 21.6% last year. On an ex-excise basis, margins stood at 23.2%, up from 22.7%.
Ravi Jaipuria, Chairman of Varun Beverages, said the company delivered a strong performance in Q1 CY2026, supported by healthy demand and disciplined execution across markets. Consolidated sales volumes grew 16.3%, driven by a 14.4% increase in India and 21.4% growth in international markets. Revenue rose 18.1% year-on-year to ₹6,574 crore, while climbed 21% to ₹1,529 crore.
In India, demand remained robust, aided by an extensive distribution network, improved execution, and ongoing investments in capacity and chilling infrastructure. The company also focused on product innovation and market expansion through pack upsizing, selective pricing strategies, and new launches in energy and juice-based beverages.
Internationally, Varun Beverages strengthened its presence in Africa by completing the acquisition of Twizza in South Africa through BevCo, enhancing its manufacturing and distribution capabilities. It has also signed an agreement to acquire Crickley Dairy, further expanding its footprint, subject to approvals.
“Looking ahead, we remain confident in the long-term opportunity across our markets, supported by favourable demographics, rising incomes, growing urbanization, and increasing beverage consumption. With adequate capacities, a diversified portfolio, and a strong distribution network, we are well-positioned to deliver sustained growth and create long-term value for all our stakeholders,” said Jaipuria.
Varun Beverages share price today
Varun Beverages share price today opened at ₹491.50 apiece on the , the stock touched an intraday high of ₹504.90 per share, and an intraday low of ₹480.10 apiece.
According to Anshul Jain, Head of Research at Lakshmishree, Varun Beverages has failed to sustain above a 53-week rectangle breakout at 428, indicating lack of follow-through and a potential bull trap at higher levels. The subsequent move appears driven by short covering rather than fresh accumulation, which raises caution on trend sustainability. Price is now advancing toward the weekly swing high zone of 525–565, a significant overhead supply region where prior selling pressure has emerged.
“This zone will be critical in determining whether the rally can transition into a genuine breakout or face renewed rejection. Failure to absorb supply here could lead to consolidation or reversal, while a strong close above 565 would shift the bias bullish,” said Jain.
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