The Board of Directors at their meeting held today inter-alia considered and approved appointment of Mr. Pankaj Madan as a Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company w.e.f. July 30, 2025 as per details enclosed
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Varun Beverages announced several decisions from its July 29, 2025 board meeting. The board approved unaudited financial results for Q2 and H1 FY25 (quarter and half-year ended June 30, 2025) along with a limited review report from joint statutory auditors. A 2nd interim dividend of ₹0.50 per equity share for FY2025 was declared, with August 2, 2025 fixed as the record date and payment from August 5, 2025. Mr. Pankaj Madan, a Chartered Accountant with 35 years of experience (formerly Group CFO of InterGlobe Enterprises and CFO of IndiGo), was appointed as CFO and KMP effective July 30, 2025, while existing finance head Mr. Rajesh Chawla continues in a defined role within the finance function. The board also approved setting up White Peak Refrigeration Private Limited, a 50:50 joint venture with Everest International Holdings Limited, to manufacture visi-coolers and refrigeration equipment, with each partner investing ₹21.25 crore (total ₹42.5 crore paid-up capital).
The small ₹0.50 dividend is modest relative to earnings and unlikely to move the stock, but signals steady cash generation. Appointment of a senior external CFO with deep FMCG/aviation finance experience is a positive governance and capability upgrade. The visi-cooler JV supports backward integration for PepsiCo-aligned cold chain, which could improve margins over time.