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Varun Beverages Ltd reports Q1CY21 consolidated PAT of Rs. 129.25 crore

Posted On: 2021-05-03 06:55:01 (Time Zone: UTC)


Varun Beverages Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q1 CY2021) - QoQ Comparison

The company has reported total income of Rs.2275.60 crores during the period ended March 31, 2021 (Q1 CY2021) as compared to Rs.1356.90 crores during the period ended December 31, 2020 (Q4 CY2020).

The company has posted net profit of Rs.129.25 crores for the period ended March 31, 2021 as against Rs.(19.73) crores for the period ended December 31, 2020.

The company has reported EPS of Rs.4.48 for the period ended March 31, 2021 as compared to Rs.(0.68) for the period ended December 31, 2020.

FinancialsQ1 CY2021Q4 CY2020% Change
Total Income₹ 2275.60 crs₹ 1356.90 crsUp Tick 67.71%
Net Profit₹ 129.25 crs₹ (19.73) crsUp Tick -755.09%
EPS₹ 4.48₹ (0.68)Up Tick -758.82%

Financial Results (Q1 CY2021) - YoY Comparison

The company has reported total income of Rs.2275.60 crores during the period ended March 31, 2021 (Q1 CY2021) as compared to Rs.1724.51 crores during the period ended March 31, 2019 (Q1 CY2020).

The company has posted net profit of Rs.129.25 crores for the period ended March 31, 2021 as against Rs.54.91 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.4.48 for the period ended March 31, 2021 as compared to Rs.1.90 for the period ended March 31, 2019.

FinancialsQ1 CY2021Q1 CY2020% Change
Total Income₹ 2275.60 crs₹ 1724.51 crsUp Tick 31.96%
Net Profit₹ 129.25 crs₹ 54.91 crsUp Tick 135.39%
EPS₹ 4.48₹ 1.90Up Tick 135.79%

Commenting on the performance for Q1 2021 Mr. Ravi Jaipuria, Chairman, Varun Beverages Limited said, "We have started the year 2021 on a healthy note delivering progressive performance across parameters in Q1. The Company registered a strong volume growth of ~33% YoY. The macro-environment in the quarter was largely supportive as consumption was almost nearing a sense of normalcy. This resulted in a healthy volume growth of ~34% YoY for our India business. The growth momentum continued in our international territories registering a ~26% YoY volume growth during the quarter.

On the earnings front, a higher operating leverage, cost-optimization measures and increased profitability from our international operations have enabled us to report improved profits in Q1, with PAT registering a growth of 128% YoY. In addition, repayment of debt as well as lower average cost of borrowing resulted in reduction in finance cost during the quarter.

From a demand standpoint, while we saw a notable recovery in the domestic markets in Q1, the environment has evolved now with the onset of the second wave of Covid infections in the country. We are now witnessing more localized, micro lockdowns and restrictions being imposed rather than a nation-wide lockdown witnessed last year. The situation is being addressed by wider vaccination drives being carried out across the nation, which we expect will restore normalcy sooner than later.

Notwithstanding short-term non-linearity in business, we remain confident of the medium to longer-term outlook of the business. Keeping that in view, the Board of Directors has recommended a bonus issue of One equity share for every Two equity shares held indicating our belief in the continued growth trajectory for our Company.

In the face of adversity last year, our business model showed a strong sense of resilience and we were able to deliver steady operational and financial performance. We expect that once things stabilize during the current year, we should be able to swiftly bounce back. In conclusion, we are on a strong footing and will continue to diligently work towards strengthening our position as a key player in the beverage industry."

Shares of Varun Beverages Ltd was last trading in BSE at Rs.951.3 as compared to the previous close of Rs. 937.65. The total number of shares traded during the day was 26654 in over 2052 trades.

The stock hit an intraday high of Rs. 969.8 and intraday low of 933.3. The net turnover during the day was Rs. 25541254.


Source: Equity Bulls

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