Varun Beverages

Varun Beverages delivered a strong Q1 CY2026 with consolidated revenue up 18.1% YoYCurrent 18.1% vs previous available quarter 18.1%. to INR 6,574 crore and EBITDA up 21% YoYCurrent reported value: 21% YoY. No comparable prior figure is available in the source record. to INR 1,529 crore, driven by volume growth of 16.3%Current reported value: 16.3%. No comparable prior figure is available in the source record. (India +14.4%Current 14.4%. Reported change: +14.4% YoY., international +21.4%Current 21.4%. Reported change: +21.4% YoY.). EBITDA margin expanded 55bps to 23.3%Current reported value: 23.3%. No comparable prior figure is available in the source record. aided by operational efficiencies and early raw material stocking. Management highlighted robust demand, premiumization (dairy +60-70%, Nimbooz +50-60%), and aggressive distribution expansion targeting 500,000 new outlets. Guidance points to sustained double-digit growth, with adequate capacity and raw material coverage for Q2. Key risk: potential margin pressure from sustained crude-driven input cost inflation if volumes soften.