Varun Beverages Q2 Results: Varun Beverages (VBL), one of PepsiCo’s largest franchise bottlers, reported a strong set of earnings for the quarter ended June 2026 (Q2 CY2026) on Tuesday, July 28. The company, which follows the January-December financial year, posted double-digit growth in revenue, profit and EBITDA, supported by robust volume growth across its India and international businesses.
Net profit rose 15.1% year-on-year to ₹1,525.36 crore in Q2 CY2026 from ₹1,325.49 crore a year earlier, driven by strong volume growth in both domestic and overseas markets.
Revenue from operations (net of excise duty and GST) increased 20.4% to ₹8,451.23 crore during the quarter, compared with ₹7,017.37 crore in the corresponding period last year.
Gross margin improved by 44 basis points to 55.0%, aided by a higher contribution from the international business. EBITDA climbed 17.2% year-on-year to ₹2,343.04 crore from ₹1,998.77 crore in Q2 CY2025. However, the EBITDA margin narrowed by 76 basis points to 27.7%, primarily due to the consolidation of the Twizza business, which currently operates at relatively lower margins.
