Varun Beverages Q2 Revenue Up 20.4% to ₹84,512.3 Mn

Varun Beverages Limited (VBL) announced its Q2 and H1 CY2026 financial results, reporting a 20.4% year-on-year revenue growth to ₹84,512.3 million for Q2 2026. Consolidated sales volume increased by 19.8% to 466.7 million cases, driven by strong performance in India and international territories, including 11.8 million cases from the Twizza acquisition. Gross margins improved by 44 bps to 55.0%. EBITDA rose 17.2% to ₹23,430.4 million, though EBITDA margins declined slightly due to the Twizza acquisition. Profit After Tax (PAT) grew 15.1% to ₹15,253.6 million. For H1 2026, revenue increased by 19.4% to ₹150,254.2 million, with EBITDA up 18.7% and PAT up 16.9%. The company also highlighted strategic moves like extending its PepsiCo bottling agreement and entering a partnership with Asahi Group for the CALPIS brand.