Varun Beverages Q1 CY26 Revenue Up 18.1% to ₹6,574 Cr; Acquires Twizza in South Africa
Varun Beverages Limited reported Q1 CY2026 consolidated sales volume growth of 16.3% to 363.4 million cases. Net revenue rose 18.1% YoY to ₹6,574 crore, and EBITDA grew 21.0% to ₹1,529 crore. PAT increased 20.1% to ₹879 crore. VBL acquired Twizza in South Africa for ZAR 2,053 million and agreed to acquire Crickley Dairy for ZAR 238 million.
The significant revenue growth, coupled with strategic international acquisitions (Twizza and Crickley Dairy), will have a substantial impact on the company's future financial performance and market position.
The company reported strong year-on-year growth in sales volumes, revenue, EBITDA, and PAT. Strategic acquisitions in South Africa are also positive developments.
Varun Beverages Limited (VBL) announced its unaudited financial results for the quarter ended March 31, 2026. The company reported a consolidated sales volume growth of 16.3% to 363.4 million cases, driven by a 14.4% increase in India and a 21.4% rise in international territories.
Net revenue from operations grew by 18.1% year-on-year to ₹65,741.9 million (₹6,574.19 crore). EBITDA improved by 21.0% to ₹15,289.3 million (₹1,528.93 crore), with EBITDA margins increasing by 55 basis points to 23.3%. Profit After Tax (PAT) saw a 20.1% increase, reaching ₹8,787.1 million (₹878.71 crore).
Key developments include the consummation of the acquisition of Twizza (Pty) Limited in South Africa for an enterprise value of ZAR 2,053 million, which is expected to strengthen VBL's presence in the African market. Additionally, an agreement has been signed to acquire Crickley Dairy Proprietary Limited in South Africa for an enterprise value of approximately ZAR 238 million, subject to approvals.
The company's Chairman, Mr. Ravi Jaipuria, expressed confidence in the long-term opportunity, citing favorable demographics, rising incomes, and growing urbanization. VBL also announced an interim dividend of 25% of face value, amounting to ₹0.50 per share, with a total cash outflow of approximately ₹1,691 million.
In India, demand remained encouraging, supported by distribution reach and investments in manufacturing capacity. The company undertook initiatives like pack upsizing and selective price-point launches to drive volumes. Internationally, the acquisition of Twizza and the planned acquisition of Crickley Dairy are key strategic moves to expand the company's footprint and capabilities in Africa.
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