Varun Beverages reported a steady set of Q2CY24 earnings. The company’s revenue grew by 28.3% year-on-year to Rs 7,196.8 crore, up from Rs 5,611.4 crore in Q2CY23. Gross margins improved by 220 basis points, reaching 54.7% compared to 52.5% in the same quarter last year. EBITDA saw a 31.8% increase, climbing to Rs 1,991.1 crore from Rs 1,510.9 crore, with EBITDA margins improving by 70 basis points to 27.7%. The company’s profit after tax (PAT) grew by 25.5%, amounting to Rs 1,261.8 crore, up from Rs 1,005.4 crore in Q2CY23.
Key internal metrics showed a Q2 volume growth of 28.1% year-on-year, with India volumes up by 22.9%. Carbonated soft drinks volume grew by an impressive 31.8%. In addition to the strong financial performance, Varun Beverages announced a stock split, reducing the face value from Rs 5 to Rs 2.
