VBL quarterly results and annual financials: sales, operating profit, OPM, net profit, EPS, balance sheet, cash flow and ratios like ROCE, with YoY and QoQ growth.
Varun Beverages Ltd reported sales of ₹6,608 Cr, operating profit of ₹1,424 Cr (OPM 22%) and net profit of ₹831 Cr for the quarter ended Sep 2026. Figures in ₹ crore, consolidated where available.
VBL quarterly results (₹ Cr)
Metric
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Sep 2026
Sales
3,689
5,567
7,017
4,961
4,204
6,574
8,545
6,608
Expenses
3,110
4,304
5,020
3,822
3,568
5,049
6,217
5,183
Operating Profit
579
1,263
1,998
1,139
637
1,525
2,328
1,424
OPM
16%
23%
28%
23%
15%
23%
27%
22%
Other Income
45
28
77
148
99
44
105
120
Interest
109
41
37
47
47
49
59
72
Depreciation
261
273
306
312
330
357
413
420
Profit before tax
254
978
1,732
927
359
1,163
1,961
1,053
Tax
23%
25%
23%
21%
28%
24%
23%
21%
Net Profit
196
731
1,325
732
260
879
1,510
831
EPS in Rs
0.55
2.15
3.89
2.15
0.74
2.58
4.45
2.45
VBL profit & loss, annual (₹ Cr)
Metric
Dec 2021
Dec 2022
Dec 2023
Dec 2024
Dec 2025
TTM
Sales
8,823
13,173
16,043
20,008
21,685
25,931
Expenses
7,129
10,310
12,326
15,189
16,616
20,017
Operating Profit
1,694
2,863
3,717
4,818
5,070
5,914
OPM
19%
22%
23%
24%
23%
23%
Other Income
51
-18
-5
45
352
367
Interest
207
204
292
483
196
226
Depreciation
531
617
681
947
1,216
1,520
Profit before tax
1,007
2,024
2,739
3,433
4,010
4,536
Tax
26%
23%
23%
23%
24%
-
Net Profit
746
1,550
2,102
2,634
3,062
3,479
EPS in Rs
2.14
4.61
6.33
7.67
8.98
10.22
Dividend Payout
16%
15%
16%
13%
17%
-
VBL balance sheet (₹ Cr)
Metric
Dec 2021
Dec 2022
Dec 2023
Dec 2024
Dec 2025
Equity Capital
433
650
650
676
676
Reserves
3,647
4,453
6,287
15,934
18,902
Borrowings
3,387
3,884
5,431
2,826
2,508
Other Liabilities
2,113
2,632
2,819
3,688
3,454
Total Liabilities
9,579
11,618
15,187
23,124
25,541
Fixed Assets
6,311
6,932
8,409
13,402
16,759
CWIP
497
607
1,922
1,167
271
Investments
0
0
21
60
174
Other Assets
2,772
4,079
4,835
8,496
8,337
Total Assets
9,579
11,618
15,187
23,124
25,541
VBL cash flows (₹ Cr)
Metric
Dec 2021
Dec 2022
Dec 2023
Dec 2024
Dec 2025
Cash from Operating Activity
1,231
1,790
2,391
3,381
3,509
Cash from Investing Activity
-1,008
-1,769
-3,288
-4,311
-2,725
Cash from Financing Activity
-178
-18
985
2,954
-1,266
Net Cash Flow
46
4
88
2,024
-482
Free Cash Flow
416
40
-803
-359
797
CFO/OP
80%
76%
82%
85%
87%
CFO/EBITDAShare of operating profit converting into cash: CFO (before tax) / Operating Profit