The Board of Directors at their meeting held today inter-alia considered and approved to incorporate a joint venture company in India inter-alia to carry on the business of manufacturing of visi-coolers and other refrigeration equipments etc.
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Varun Beverages' board approved the unaudited financial results for the quarter ended June 30, 2025, alongside a 2nd interim dividend of ₹0.50 per equity share for FY2025, with August 2, 2025 set as the record date and August 5, 2025 as the payment date. Mr. Pankaj Madan was appointed as the new CFO and Key Managerial Personnel effective July 30, 2025, replacing Rajesh Chawla who will continue in a defined finance role; Madan brings 35 years of experience across aviation, retail, telecom and manufacturing, most recently from Interglobe Enterprises. The board also approved incorporating a 50:50 joint venture, White Peak Refrigeration Private Limited, with Everest International Holdings Limited to manufacture visi-coolers and refrigeration equipment, with a combined paid-up capital of ₹42.5 crore (VBL contributing ₹21.25 crore).
The small interim dividend and routine results are unlikely to move the stock, but the JV marks a strategic backward integration move into cooling equipment manufacturing, which could improve supply chain control and margins for VBL's beverage distribution business over the medium term.