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Varun Beverages Ltd Q2CY21 consolidated PAT zooms to Rs. 308.16 crores

Posted On: 2021-08-02 07:33:14 (Time Zone: UTC)


Varun Beverages Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q2 CY2021) - QoQ Comparison

The company has reported total income of Rs.2507.45 crores during the period ended June 30, 2021 as compared to Rs.2275.60 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.308.16 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.129.25 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.7.12 for the period ended June 30, 2021 as compared to Rs.2.98 for the period ended March 31, 2021.

FinancialsQ2 CY2021Q1 CY2021% Change
Total Income₹ 2507.45 crs₹ 2275.60 crsUp Tick 10.19%
Net Profit₹ 308.16 crs₹ 129.25 crsUp Tick 138.42%
EPS₹ 7.12₹ 2.98Up Tick 138.93%

Financial Results (Q2 CY2021) - YoY Comparison

The company has reported total income of Rs.2507.45 crores during the period ended June 30, 2021 as compared to Rs.1668.35 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.308.16 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.140.77 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.7.12 for the period ended June 30, 2021 as compared to Rs.3.25 for the period ended June 30, 2020.

FinancialsQ2 CY2021Q2 CY2020% Change
Total Income₹ 2507.45 crs₹ 1668.35 crsUp Tick 50.3%
Net Profit₹ 308.16 crs₹ 140.77 crsUp Tick 118.91%
EPS₹ 7.12₹ 3.25Up Tick 119.08%

Financial Results (6 months ended CY 2021) - YoY Comparison

The company has reported total income of Rs.4783.05 crores during the 6 months period ended June 30, 2021 as compared to Rs.3392.86 crores during the 6 months period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.437.42 crores for the 6 months period ended June 30, 2021 as against net profit / (loss) of Rs.195.69 crores for the 6 months period ended June 30, 2020.

The company has reported EPS of Rs.10.10 for the 6 months period ended June 30, 2021 as compared to Rs.4.52 for the 6 months period ended June 30, 2020.

Financials6 Months Ended CY20216 Months Ended CY2020% Change
Total Income₹ 4783.05 crs₹ 3392.86 crsUp Tick 40.97%
Net Profit₹ 437.42 crs₹ 195.69 crsUp Tick 123.53%
EPS₹ 10.10₹4.52Up Tick 123.45%

Commenting on the performance for Q2 2021 Mr. Ravi Jaipuria, Chairman, Varun Beverages Limited said, "We have delivered an encouraging set of results during the quarter, despite a soft operating environment due to pandemic-induced lockdowns and restrictions. While we registered strong sales in the month of April, May witnessed moderate sales on account of the disruptions. I am happy to share that our team efficiently outlined and executed a set of SOPs and workflows to secure our business model and ensure continuity across operations during this time. With last year's learnings, we had all the necessary protocols in place to handle and mitigate the business impact to a certain extent. Further, as lockdowns and curbs started easing from June onwards, we saw faster recovery in demand, which assisted growth in the quarter.

Overall, we have delivered a healthy performance, with a topline growth of 49.4% YoY. The higher growth rate is on account of robust volume growth over a lower base of previous year as well as marginal increase in realizations. On the profitability front, we were able to maintain most of the cost-optimization measures that we had undertaken last year, allowing us to report stable EBITDA margin at 23.3%. PAT increased by 123.0%, primarily driven by lower finance cost on account of lowering of average cost of borrowing and reduction in total debt. We are also pleased to share that in-line with our dividend policy the Board of Director's have recommended an interim dividend of Rs. 2.5 per share.

As we look ahead, momentum in demand and consumption should further strengthen with higher vaccination drives, improving economic indicators and supportive macros such as good monsoons. We remain confident of reporting robust performance in the quarters ahead."

Shares of Varun Beverages Limited was last trading in BSE at Rs. 758.4 as compared to the previous close of Rs. 753.55. The total number of shares traded during the day was 19888 in over 2386 trades.

The stock hit an intraday high of Rs. 767.35 and intraday low of 750. The net turnover during the day was Rs. 15146239.


Source: Equity Bulls

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