Varun Beverages Funding: rounds, investors and valuation
VBL's CY2025 profit rose 16.2% to ₹3,062 crore 2. Its India business was net debt free at the end of 2025 15.
Founded1995, Delhi
StatusListed
Listed onNSE, BSE: VBL
Results (consolidated)
| Period | Revenue | EBITDA | Profit after tax |
|---|---|---|---|
| CY2023 | ₹16,042.6 crore | ₹3,609.5 crore | ₹2,101.8 crore 11 |
| CY2024 | ₹20,007.7 crore | ₹4,711.1 crore | ₹2,634.3 crore 11 |
| CY2025 | ₹21,685.4 crore | ₹5,049.4 crore | ₹3,062.0 crore 2 |
| January-March 2026 | ₹6,574.2 crore | ₹1,528.9 crore | ₹878.7 crore 24 |
| April-June 2026 | ₹8,451.2 crore | ₹2,343.0 crore | ₹1,525.4 crore 14 |
| July-September 2026 | ₹6,607.6 crore (net) | Not confirmed | ₹830.6 crore 2813 |
The filing gives July-September 2026 revenue of ₹6,815.6 crore, while the presentation gives net revenue of ₹6,607.6 crore 28.
Debt and ratings
Management said the India business was net debt free with about ₹1,225 crore of free cash at the end of 2025, and consolidated net debt was about ₹25.6 crore 15. CRISIL upgraded its bank loan rating to AAA/Stable 2.
Dividends and market value
VBL paid a final dividend of ₹0.50 for CY2025 and interim dividends of ₹0.50 after each of the first three quarters of 2026 21413. Its market value was about ₹1.37 lakh crore in September 2026 29.
Frequently asked questions
₹21,685 crore, up 8.4%, with profit of ₹3,062 crore.
Consolidated net debt was about ₹25.6 crore at the end of 2025, and the India business was net debt free.
Sources✓ Verified 5 Nov 2026
1 Forbes, Ravi Jaipuria (Real-Time Billionaires), 5 Nov 2026, Ravi Jaipuria
2 Varun Beverages, Q4 and CY2025 financial results, 3 Feb 2026, CY2025 results
3 Varun Beverages / BSE, Q3 and 9M CY2026 financial results, 30 Oct 2026, Q3 CY2026 results
4 Wikipedia, Ravi Jaipuria, 6 Nov 2026, background
5 Trendlyne, Varun Beverages shareholding, 30 Sep 2026, shareholding
6 Voguestock, Varun Beverages shareholding pattern, 30 Sep 2026, promoter split
7 Varun Beverages, About us, 6 Nov 2026, history, brands
8 Business Standard, Varun Beverages rises on territory acquisition, 21 Feb 2019, South and West territories
9 Chittorgarh, Varun Beverages IPO, 1 Nov 2016, IPO
10 Business Today, Multibagger stock with bonus issues and splits, 1 Apr 2026, bonus issues, splits
11 Varun Beverages, Q4 and CY2024 press release, 10 Feb 2025, CY2024 results, BevCo
12 Business Standard, Varun Beverages to enter alcoholic drinks segment, 29 Oct 2025, alcoholic drinks
13 Free Press Journal, Varun Beverages Q3 CY2026 profit rises 14% to ₹831 crore, 30 Oct 2026, Q3 CY2026
14 DSIJ, Varun Beverages reports 20% revenue growth, extends PepsiCo pact, 28 Jul 2026, Q2 CY2026, PepsiCo licence
15 AlphaStreet, Varun Beverages earnings call transcript, 4 Feb 2026, earnings call
16 MarketScreener, Varun Beverages approves resignation of Kapil Agarwal, 1 Nov 2022, Kapil Agarwal
17 NewsBytes, Varun Beverages stock climbs on CFO appointment, 30 Jul 2025, CFO
18 IIFL, Varun Beverages management discussion, 1 Jan 1970, CY2025 MD&A
19 Kotak Neo, Varun Beverages shares in focus after Q3 CY26 results, 30 Oct 2026, Q3 CY2026, new franchises
20 FoodBusinessMEA, Hindustan Coca-Cola Beverages reports 73% profit decline in FY25, 1 Jan 1970, HCCB results
21 Mint, Varun Beverages ramping up capacity amid a pricing war, 21 Mar 2025, Campa pricing
22 ICICI Direct, Cola war is back: impact on Varun Beverages, 17 Mar 2023, Campa impact
23 ThePrint (Reuters), Varun Beverages to enter South Africa with $159 million deal, 19 Dec 2023, BevCo
24 Varun Beverages / NSE, Press release, 27 April 2026, 27 Apr 2026, Q1 CY2026, Twizza
25 Arthneeti (company filing), Varun Beverages disclosure under Regulation 30, 30 Sep 2026, Crickley Dairy
26 Business Standard, Varun Beverages launches QIP to raise up to Rs 7,500 crore, 14 Nov 2024, QIP
27 Upstox, Varun Beverages Q3 net profit jumps 14%, 30 Oct 2026, Q3 CY2026
28 InvestyWise, Varun Beverages Q3 and 9M CY2026 results presentation, 30 Oct 2026, Q3 presentation
29 StockAnalysis, Varun Beverages statistics, 2 Sep 2026, market value
30 The Himalayan Times, DRI seeks Rs 1.95bn from Varun Beverages, 20 Dec 2019, Nepal tax case
31 Business Today, Sin tax effect: Varun Beverages shares lose fizz, 4 Sep 2025, GST
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