VBL Varun Beverages Q2 FY26 results (Jul–Sep 2025) and concall
Varun Beverages delivered a muted Q3 with domestic volumes flat due to prolonged rainfall, but international operations grew 9% led by South Africa. The key strategic developments were the Carlsberg distribution agreement for southern Africa and MOA alteration to include alcoholic beverages. Nimbooz and value-added dairy showed strong momentum. Management remains confident of double-digit growth once weather normalizes, noting double-digit October growth.
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What they filed
Q2 FY26: revenue up 1.9%, net profit up 18.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 4,805 | 3,689 | 5,567 | 7,017 | 4,897 +2% |
| EBITDA | 1,151 | 579 | 1,263 | 1,998 | 1,146 −0% |
| Net profit | 629 | 196 | 731 | 1,325 | 745 +18% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
