Profit before tax stood at Rs 187.98 crore in the December 2023 quarter, steeply higher than Rs 89.60 crore posted in the same quarter last year.

During Q4 CY23, total sales volumes grew by 13.9% to 912.9 million cases from 801.8 million cases in Q3 CY22, led by double-digit growth in both Indian & International markets.

In Q4 CY23, EBITDA stood at Rs 418.3 crore, recording a growth of 36% on YoY.

On current year 2023-2022 basis, the company’s consolidated net profit jumped 35.6% to Rs 2,101.81 crore on 21.8% increase in revenue from operations to Rs 16,042.58 crore in CY23 over CY22.

Net realization per case increased by 7.0% in CY2023 to Rs. 175.7 driven by continued improvement in mix of smaller SKUs (250ml) in Indian Markets and improved realization per case in International markets.

Consolidated sales volume grew by 13.9% to 912.9 million cases in CY2023 from 801.8 million cases in CY2022 led by double-digit growth in both Indian (12.9% growth) & International (18.0% growth) markets.

Ravi Jaipuria, chairman of Varun Beverages said, “We have successfully commissioned multiple greenfield and brownfield facilities across key geographies during the year. This expansion not only strengthened our manufacturing capabilities but also extended our market reach. Our distribution network and chilling infrastructure have also seen a substantial growth, further solidifying our presence in the market.

Marking a key milestone in our growth journey, we are delighted to announce the acquisition of The Beverage company (BevCo) subject to regulatory and other approvals. BevCo holds franchise rights for PepsiCo beverage products in South Africa, Lesotho, and Eswatini, along with distribution rights in Namibia and Botswana. This acquisition, which aligns perfectly with our strategic goals, offers an excellent opportunity to significantly enhance our presence in the African market—a region known for high demand for soft drinks and favorable demographics. The integration of BevCo into VBL's operations is expected to yield substantial synergistic benefits in the future.

We will continue to focus on strengthening our market position, both in India and internationally, and place emphasis on product categories that are aligned with evolving consumer preferences. Our journey through CY2023 has set a solid foundation for continued success, and we remain confident in our ability to deliver sustainable growth and value for all our stakeholders in the years to come.”

Meanwhile, the company’s board has declared final dividend of Rs 1.25 per share for financial year ended 31 December 2023. The record date for the dividend to be fixed by the board of directors of the company.

Further, the company’s board has re-appointed Varun Jaipuria and Raj Gandhi as a whole-time director for a period of upto 5 years of the company with effect from 1 November 2024. While, the firm also re-appointed Rajinder Jeet Singh Bagga as a whole-time director for a period of upto 5 years of the company with effect from 2 May 2024.

Furthermore, the company has incorporate subsidiary company in n Mozambique to carry on the business of distribution of Beverages. It will help the company to expand its business operations in Mozambique.

Varun Beverages is a key player in beverage industry and one of the largest franchisees of PepsiCo in the world (outside USA). The company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. As on date, VBL has been granted franchises for various PepsiCo products across 27 States and 7 Union Territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe.