VBL

What Varun Beverages promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q1 FY27

what the last two calls moved 10 tracked 1 delivered 2 missed 7 open
  • Consolidated EBITDA Margin delivered said Q1 FY26 Promised: 21%+ Q1 FY27: Q2 CY26 EBITDA margin was 27.7%, well above the 21%+ floor. Management expressed confidence in maintaining margins.
  • CY2025 CAPEX missed said Q3 FY25 Promised: Rs 31,000 million Q1 FY27: CY2025 period is over; promise remains missed.
  • India Volume Growth on track said Q3 FY25 Promised: Double digit annually Q1 FY27: India volume grew 14.4% in Q2 CY26. Management guided for '20% plus' growth post-June, reinforcing the double-digit growth trajectory.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 10 tracked commitments for Varun Beverages — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens