Varun Beverages Q3 Revenue Up 33.2% to ₹66,075.6 Mn

Varun Beverages Limited (VBL) announced its financial results for Q3 and 9M CY2026. Q3 revenue surged 33.2% YoY to Rs. 66,075.6 million, driven by a 28.7% increase in consolidated sales volume to 354.4 million cases. India volumes grew 22.5% and international volumes 39.9%, including 15.3 million cases from the Twizza acquisition in South Africa. Consolidated beverage realization per case improved by 2.2%. Gross margin declined 334 bps to 53.1% due to higher packaging material costs and geopolitical disruptions. EBITDA increased 25.1% YoY to Rs. 14,267.1 million, while PAT rose 13.5% to Rs. 8,305.9 million. For 9M 2026, revenue grew 23.3% YoY to Rs. 218,145.5 million, EBITDA by 19.9% to Rs. 52,745.8 million, and PAT by 15.5% to Rs. 32,023.0 million. VBL also reported the acquisition of business from Devyani Food Industries (Kenya) Limited for USD 32 million.