Outcome of Board meeting
VBL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.5 pts more than Nifty 100 and 5.9 pts more than its Beverages peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Varun Beverages (VBL) reported its Q2 and H1 (January–June 2025) unaudited financial results. Consolidated revenue from operations for Q2 stood at ₹71,630 million (down ~2.3% YoY from ₹73,337 million), while H1 revenue grew ~9.5% to ₹1,28,430 million. Consolidated net profit for Q2 rose ~5% YoY to ₹13,255 million, and H1 PAT grew ~13.6% to ₹20,568 million. Consolidated H1 EBITDA margin expanded modestly to ~26.2% from ~25.8% last year. Joint statutory auditors issued an unmodified (clean) limited review opinion. The Board declared a 2nd interim dividend of ₹0.50 per share (record date Aug 2, 2025; payment from Aug 5, 2025). Additionally, Mr. Pankaj Madan was appointed as new CFO effective July 30, 2025, and the Board approved a 50:50 joint venture — White Peak Refrigeration Private Limited — with Everest International Holdings to manufacture visi-coolers and refrigeration equipment in India.
Mixed quarter for shareholders: H1 growth in revenue and profit is steady but not exceptional, and Q2 revenue dipped slightly on a YoY basis, partly reflecting the seasonal nature of the beverage business. The new CFO brings strong cross-sector finance experience, and the visi-cooler JV is a strategic backward-integration move to secure cooling equipment supply. Interim dividend continues shareholder returns.