Varun Beverages Ltd Share Price – NSE  /  BSE

FMCG, Mid Cap

Both the entities are special purpose vehicle engaged in supplying solar power to consumers in the states of Maharashtra and Uttar Pradesh.

Transactions involving Huoban Energy 11 and Aspirative Creative Ventures are anticipated to close on or before 9 October 2024, and 9 December 2024, respectively.

The primary goal of these investments are to secure solar power generation and supply for VBL's facilities located in Supa Parner, Sakri, district Dhule, Maharashtra and Gorakhpur, Uttar Pradesh. Solar power is environment friendly and will also reduce the power cost at the said facilities, the company stated.

On completion of the proposed transactions, VBL shall hold upto 14% of equity share capital in the both the firms.

The company added that both the companies are yet to begin their operations.

Varun Beverages is a key player in beverage industry and one of the largest franchisees of PepsiCo in the world (outside USA). The company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. As on date, VBL has been granted franchises for various PepsiCo products across 27 States and 7 Union Territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe.

The company’s consolidated net profit jumped 76.34% to Rs 143.76 crore on 20.99% increase in revenue from operations to Rs 2,731 crore in Q4 CY23 over Q4 CY22.

The scrip shed 0.78% to settle at Rs 1,423.65 on Wednesday, 10 April 2024.

The domestic market is closed today, on account of Ramadan Eid.

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Varun Beverages has approved the investment of up to 14% of equity share capital of Huoban Energy 11, a special purpose vehicle inter-alia engaged to supply solar power to consumers in the state ofMaharashtra. The company intends to obtain solar power (generation andsupply) from the Company for its facility located in Supa Parner, Sakri, District Dhule, Maharashtra.

The company will also approved to invest up to 14% equity share capital of Aspirative Creative Ventures, a special purpose vehicle inter-alia engaged to supply solar power to consumers in the state of Uttar Pradesh. The company intends to obtain solar power (generation andsupply) from the Company for its facility located in Gorakhpur, Uttar Pradesh.

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Varun Beverages Ltd rose for a third straight session today. The stock is quoting at Rs 1533.65, up 3.91% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.2% on the day, quoting at 22478.6. The Sensex is at 74083.65, up 0.28%. Varun Beverages Ltd has gained around 11.17% in last one month.

Meanwhile, Nifty FMCG index of which Varun Beverages Ltd is a constituent, has gained around 0.44% in last one month and is currently quoting at 53866.7, up 0.04% on the day. The volume in the stock stood at 21 lakh shares today, compared to the daily average of 21.01 lakh shares in last one month.

The PE of the stock is 99.16 based on TTM earnings ending December 23.

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Varun Beverages has fixed 04 April 2024 as record date for final dividend of Rs 1.25 per equity share for FY ended 31 December 2023. The dividend will be paid on and from 05 April 2024.

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