Varun Beverages, PepsiCo’s largest franchise bottler, has a fixed record date for dividend payout. With a market cap of Rs. 60,171.03 crore, Varun Beverages Ltd. is a large cap company engaged in the FMCG sector of India. One of the largest PepsiCo franchisees outside the USA and a major participant in the beverage industry is Varun Beverages Limited. The company manufactures and sells a wide variety of carbonated soft drinks (CSDs) and a wide range of non-carbonated beverages (NCBs), including packaged drinking water marketed under PepsiCo trademarks. As of right now, VBL has been given franchise rights for a number of PepsiCo products in 27 Indian States and 7 Union Territories. VBL has 31 manufacturing facilities in India and 6 abroad, including 2 in Nepal and 1 each in Zambia, Zimbabwe, Sri Lanka, Morocco, and Zambia.
“The payment of an interim dividend of Rs. 2.50 (Two Rupees and Fifty Paisa only) per Equity Share for the Financial Year 2022 on the total issued, subscribed, and paid-up 64,95,49,620 Equity Shares of the nominal value of Rs. 10/- each. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, fixed Friday, August 12, 2022, as the “RECORD DATE” for ascertaining the eligibility of the Equity Shareholders for payment of interim dividend. The interim dividend will be paid on and from Tuesday, August 16, 2022, to those shareholders whose name appears in the Register of Members of the Company or in the list of beneficial owners maintained by the Depositories as on Friday, August 12, 2022.”
Financials
Varun Beverages reported a two-fold rise in consolidated profit after tax at Rs 802.01 crore for June quarter on growth in revenue from operations and improvement in margins.
The company, which follows January-December financial year, had posted a PAT of Rs 318.80 crore in April-June 2021.
Varun Beverages Ltd’s (VBL) revenue from operations in the quarter stood at Rs 5,017.57 crore, up two-fold as compared to Rs 2,483.04 crore in the year-ago period, when sales channels were disrupted.
Revenue from operations grew “on account of robust volume growth over last year and higher realization on a consolidated basis,” said VBL in its earning statement.
“Total sales volumes were up 96.9 per cent year-on-year at 300 million cases in Q2/2022 as compared to 152 million cases in Q2/2021, on account of the strong demand during the peak season and return to normalcy,” it said.
However, its gross margins declined by 302 basis points YoY to 50.5 per cent during Q2/2022 due to an increase in preform prices by 30 per cent over Q2/2021.
EBITDA margins improved to 25.2 per cent in Q2/2022, led by the higher realization and operating leverage from increased sales volume, it said.
Stock Price History
The stock closed today at Rs 926.95 apiece, up by 5.01 per cent from the previous close. In the last 1 year, the stock has gained 76.20 per cent and on a YTD basis, the stock has gained 58.04 per cent so far in 2022. The stock has gained 47.82 per cent over the past six months and 17.92 per cent over the past month. The stock price has climbed by 6.42 per cent during the previous 5 days.
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