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Varun Beverages Ltd

NSE:VBLConsumer DefensiveNSE:CNX100NSE:CNX200

₹420.55−2.31%At closeAt close · Mon 19 Oct · ≈ AED 16.23 · Market cap $14.89B · Next earnings Sat 14 Nov

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	57.1%	54.3%	52.5%	53.8%	55.5%	39.4%	—	—
Operating margin	40.4%	40.5%	41.5%	42.9%	44.0%	17.7%	17.7%	+0.0 pts
Net margin	5.1%	7.9%	11.4%	12.8%	13.0%	14.0%	14.0%	+0.0 pts
EBITDA margin	18.8%	18.8%	21.5%	23.4%	24.1%	24.9%	—	—
Return on equity	9.3%	17.0%	29.3%	29.6%	15.6%	15.5%	15.4%	−0.1 pts
Return on assets	3.9%	7.2%	12.9%	13.5%	11.2%	11.9%	11.9%	+0.0 pts
Return on capital employed	43.2%	54.5%	71.5%	62.4%	47.3%	17.8%	—	—
Debt / equity	0.9×	0.8×	0.8×	0.8×	0.2×	0.1×	0.1×	−0.8%
Debt / assets	38.3%	35.3%	33.4%	35.8%	12.2%	9.8%	—	—
Interest coverage	8.9×	17.2×	26.9×	24.3×	18.3×	22.6×	—	—
Current ratio	0.7×	0.8×	0.9×	1.0×	1.7×	1.9×	1.9×	+0.0%
Quick ratio	0.4×	0.4×	0.4×	0.5×	1.1×	1.2×	—	—
Cash ratio	0.0×	0.0×	0.0×	0.1×	0.5×	0.5×	0.5×	+0.0%
Asset turnover	0.8×	0.9×	1.1×	1.1×	0.9×	0.8×	—	—
Inventory turnover	3.0×	2.8×	3.1×	3.4×	3.2×	4.4×	—	—
Receivables turnover	15.2×	18.9×	19.2×	44.6×	12.1×	17.4×	—	—
Dividend payout	21.9%	15.6%	10.8%	11.1%	12.5%	16.7%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.