Varun Beverages Revenue History — Quarter by Quarter

Varun Beverages's revenue moved from ₹5,611 Cr in Q1 FY24 to ₹7,017 Cr in Q1 FY26, a 25.1% change over 10 quarters. The table keeps each quarter linked back to the underlying earnings page.

Revenue by Quarter

Quarter	Revenue (₹ Cr)	YoY Change
Q1 FY26	₹7,017 Cr	+18.1%
Q4 FY26	₹6,574 Cr	+18.1%
Q4 FY25	₹5,567 Cr	+8.4%
Q3 FY25	₹3,689 Cr	+1.9%
Q2 FY25	₹4,805 Cr	-2.5%
Q1 FY25	₹7,197 Cr	+28.9%
Q4 FY24	₹4,317 Cr	+24.7%
Q3 FY24	₹2,668 Cr	+24.1%
Q2 FY24	₹3,871 Cr	+28.3%
Q1 FY24	₹5,611 Cr	+10.9%

What management said about revenue

Q1 FY26 · Double-digit volume growth expected for next 5-10 years

Management expects the Indian market to continue growing at double digits for the next 5-10 years, supported by favorable demographics and rising consumption.

Q4 FY26 · Capex below ₹600 crore in CY2026

Management guided capex of less than ₹500-600 crore for the year, as existing capacity is sufficient to support 50% volume growth.

Q4 FY26 · Double-digit volume growth expected for 5-10 years

Management expressed confidence in sustained double-digit volume growth in India over the next 5-10 years, driven by favorable demographics and market expansion.

Q4 FY25 · Double-digit volume growth in India for CY2026

Management expects double-digit volume growth in India for CY2026, assuming normal weather, after a weather-impacted CY2025.

Q3 FY25 · Double-digit growth expected in India going forward

Management expects double-digit growth in India as weather normalizes, citing October double-digit recovery.

Q3 FY25 · International business to return to early-to-mid teens growth

Management expects international revenue growth to return to 13-15% from next quarter, driven by recovery in Zimbabwe and DRC.

Q2 FY25 · Capacity utilization at ~70% provides headroom for 2 years

Current capacity utilization is around 70%, giving enough room for growth without significant new capacity additions in India for the next two years.

Q1 FY25 · Double-digit volume growth for CY2025

Management expects to continue double-digit volume growth for the full year, supported by capacity expansion and market penetration.

Q4 FY24 · Double-digit volume growth in India

Management expects to sustain double-digit volume growth in India, supported by outlet expansion and market penetration.

Q4 FY24 · Snack foods revenue of $25-30M in Morocco

Snack business in Morocco expected to generate $25-30 million in CY25, with plant commissioning in June.

Q3 FY24 · Three snack plants in Africa to commence operations next year

Snack plants in Zimbabwe, Zambia, and Morocco are expected to start commercial production in 2025, with potential revenue of ~$100M at full capacity.

Q2 FY24 · Double-digit volume growth in H2 CY2024

Management expects continued double-digit volume growth in India and consolidated for the second half of the calendar year.