Varun Beverages shares up 1.29% as Nifty drops

NEW DELHI: Shares of Varun Beverages Ltd. traded 1.29 per cent up in Friday's trade at 10:31AM (IST). Around 41,865 shares changed hands on the counter.

The stock opened at Rs 1585.4 and touched an intraday high and low of Rs 1627.3 and Rs 1585.4, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 1747.15 and a 52-week low of Rs 716.65.

Total market cap of the Varun Beverages Ltd. stood at Rs 104562.6 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 3903.11 crore for the quarter ended 31-Mar-2023, up 75.54 per cent from previous quarter's Rs 2223.48 crore and up 37.63 per cent from the year-ago quarter's Rs 2835.98 crore.

The net profit for latest quarter stood at Rs 429.07 crore, up 68.79 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2023, DIIs held 2.71 per cent stake in the firm, while foreign institutional investors held 26.0 per cent and the promoters 63.9 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 62.53 and a price-to-book ratio of 16.84. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Varun Beverages Ltd. belongs to the FMCG Food & Beverages industry.