Varun Beverages Limited — Q1FY27 earnings call summary

Filed 04 August 2026 · Official transcript

Multiple analyst queries on India demand, pricing, and category growth; management confident of sustained double-digit growth
Long-term growth outlook positive with expanded capacities, diversified portfolio, and strong partnerships
Q2 CY2026 consolidated sales volume grew 19.8%, net revenue up 20.4%
India volume growth 14.4% in Q2; international volumes up 38.4% including Twizza
Low/no sugar products contributed ~73% of consolidated volume in H1 CY2026
Capex of ~Rs. 9,500 million in H1 including expansions and market infrastructure
EBITDA rose 17.2% to Rs. 23,430.4 million; margin at 27.7%, down 76 bps y-y due to Twizza consolidation
Net debt Rs. 3,730 million consolidated; India net debt-free with Rs. 14,941 million cash