Varun Beverages Q3 Results: Franchisees of PepsiCo Varun Beverages on Monday reported Q3 Results on February 06, 2023. The company reported a Net Profit jump of 150.2% and declared a final dividend of Re 1/Equity Share for CY22. The stock of Varun Beverages Ltd. jumped 5.78% on NSE on Monday.
The company reported Debt to Equity ratio stood at 0.65x and Debt to EBITDA ratio stood at 1.23x as on Dec 31, 2022.
“We achieved growth in realization per unit through strategic measures such as selective price hikes, rationalized discounts and incentives, and improved product mix. This allowed us to deliver revenue growth of 49% and PAT growth of 108% YoY on a consolidated basis in CY 2022,” said Chairman of Varun Beverages Ravi Jaipuria.
Highlights of Varun Beverages Q3 Results:
| Segments | Q4CY22 | Q4CY21 |
| Consolidated Net Revenue | Rs 2214.2 crores | Rs 1734.3 crores |
| Net Profit | Rs 81.5 crores | Rs 32.5 crores |
| EBITDA for the Quarter | Rs 307.5 crores | Rs 207.5 crores |
| EBITDA margin | 13.90% | 11.98% |
Consolidated Net Revenue (Varun Beverages Q3 Results)
Varun Beverages Ltd. Reported a Consolidated Net Revenue of Rs.2214.2 crores in the December quarter of CY22 up 27.7% YoY. It was Rs.1734.3 crores in the same quarter of the previous year.
“The strong recovery in demand post the pandemic and our continued efforts towards expanding the distribution network across markets resulted in a 41% growth in consolidated sales volume,” said Chairman of Varun Beverages Ravi Jaipuria.
Net Profit for the Quarter (Varun Beverages Q3 Results)
Franchisees of PepsiCo Varun Beverages on Monday reported a 150.2% YoY increase in its consolidated Net Profit after tax at Rs 81.5 crores for the quarter that ended December 31, 2022. The company had reported a net profit of Rs 32.5 crores in the same quarter of the previous year.
EBITDA for the Quarter (Varun Beverages Q3 Results)
Varun Beverages Ltd. reported EBITDA of Rs.307.5 crores in the December quarter of CY22 up 48.1% YoY. It was Rs. 207.5 crores in the same quarter of the previous year.
EBITDA margin (Varun Beverages Q3 Results)
Varun Beverages Ltd. reported an EBITDA margin of 13.90% in Q4 CY22 up 192 bps YoY. It was 11.98% in the same quarter of the previous year.
Declared Dividend
Varun Beverages Ltd. declared a final dividend of Re. 1 per Equity Share. With this, the total dividend declared for the year ended 31st December 2022 stands at Rs. 3.50/ equity share.
Management Outlook
“The strong recovery in demand post the pandemic and our continued efforts towards expanding the distribution network across markets resulted in a 41% growth in consolidated sales volume. Our recent launches in the value-added Dairy segment have also been well-received by consumers, and we are confident that these products will continue to drive growth in the future,” said Chairman of Varun Beverages Ravi Jaipuria.
“We achieved growth in realization per unit through strategic measures such as selective price hikes, rationalized discounts and incentives, and improved product mix. This allowed us to deliver revenue growth of 49% and PAT growth of 108% YoY on a consolidated basis in CY 2022,” said Chairman of Varun Beverages Ravi Jaipuria.
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