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Varun Beverages Q4 Profit Jumps on Volume Growth as Margin Narrows, Stock Slides

New capacity with Africa expansion supported volume-led growth.

Overview

  • Consolidated net profit for the quarter ended December 31, 2025 rose about 33% year on year to roughly Rs 260 crore as revenue grew 13.5% to Rs 4,334.7 crore.
  • EBITDA increased to Rs 639 crore, though the EBITDA margin eased to 14.7% from 15.2% a year earlier.
  • Sales volumes grew 10.2% to 237.1 million cases, with India up 10.5% and international markets up 10%.
  • The company commissioned four greenfield plants in Prayagraj, Damtal, Buxar and Mendipathar, and outlined a proposed Twizza acquisition in South Africa plus an exclusive Carlsberg beer distribution tie-up in select African markets, both subject to approvals.
  • The board recommended a final dividend of Rs 0.50 per share, and the stock fell from the day’s high by about 9% before closing lower.