Varun Beverages results preview: PepsiCo-bottler Varun Beverages Ltd (VBL) is set to announce its results for the quarter ended on March 31, 2026 on Monday, April 27. The company board of the beverage player will also announce an interim dividend for the equity shareholders of the company for the financial year 2026.

"We wish to inform you that the company will host a conference call with investors and analysts on Monday, April 27, 2026 at 2:30 pm," said Varun Beverages in a separate exchange filing.  To recall, the company follows the January-December period as its financial years and thus the results shall be seen at Q1CY26.
 

Varun Beverages share price

Shares of Varun Beverages rose nearly 1.5 per cent on Monday to Rs 498, commanding a market capitalization close to Rs 1.68 lakh crore. The stock has soared 30 per cent in April 2026 so far, from its close at Rs 384.10 on March 30. Thanks to this rally, the stock is down just 8 per cent from its 52-week high at Rs 543.50, hit in May 2025.
 

Varun Beverage Q4 results preview

Elara Capital expects VBL to report a revenue of Rs 6,030 crore in March 2026 quarter, up 43.4 per cent YoY and 8.3 per cent QoQ. Ebitda is seen at Rs 1,265.1 crore, up 97.9 per cent QoQ but flat sequentially. Net profit may nearly triple on a yearly comparison to Rs 739.8 crore, rising only 2 per cent QoQ.

According to YES Securities,  Varun Beverages may report a revenue of 5,950.2 crore, up 6.9 per cent YoY. Ebitda may come in at Rs 1,309 crore, up 3.6 per cent YoY and net profit may come in at Rs 754.9 crore, up 3.1 per cent YoY.

"We expect VBL volumes to grow by 3.3 per cent YoY, driving revenue growth. Gross margins are expected to contract by 57 bps YoY to 54 per cent, with Ebitda margins expected to contract by 70 bps YoY to 22 per cent," YES Securities adds.

B&K Securities is expecting Varun Beverages revenue to come in at Rs 5,945.9 crore, up 6.8 per cent YoY and 41.4 per cent QoQ, in March 2026 quarter. Ebitda margins may contract YoY to 20.3 per cent, while adjusted net profit is penciled at Rs 683.1 crore, up 162.7 per cent QoQ but down 6.6 per cent on a yearly comparison. B&K has a 'buy' rating on the stock.

"We expect net sales to grow 7 per cent YoY in Q1CY26. We expect Ebutda margin to contract by 20bps YoY to 22.5 per cent in Q1CY26. Gross Margins are expected to expand by 50bps in Q4CY26. International volumes are expected to increase by high double digits in Q1CY26," said Motilal Oswal Financial Services.
 

Varun Beverages target price

Antique Stock Broking has a 'buy' rating on Varun Beverages with a target price of Rs 510, while JM Financial also has the same rating with a target price of Rs 474. Motilal Oswal also has a 'buy' on it with a target price of Rs 55. However, Elara Capital has a target price of Rs 535, but has an 'accumulate' rating on the stock. Geojit Investments gave it a 'hold' with a target price of Rs 422.