Mumbai: Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers outside the US, on Tuesday reported a strong set of numbers for the fourth quarter ended December 31, 2025, with profit after tax rising 32.9% year-on-year to ₹2,600 crore, aided by healthy volume growth across India and international markets. Revenue from operations during the quarter increased 14% to ₹42,044.2 million, compared with ₹36,887.9 million in the year-ago period.
EBITDA for the quarter rose 10.2% to ₹6,392.6 million, while consolidated sales volumes grew 10.2% to 237.1 million cases, led by 10.5% growth in India and 10% growth in international markets. The company said performance improved meaningfully in the December quarter after weather-related disruptions during parts of the year impacted domestic volumes.
For the full calendar year 2025, Varun Beverages reported an 8.4% increase in revenue to ₹216,853.8 million, while EBITDA grew 7.2% to ₹50,493.7 million. Profit after tax for the year rose 16.2% to ₹30,620.4 million, driven by volume growth, lower finance costs and higher other income, including interest on deposits and favourable currency movement in overseas markets.
Consolidated sales volumes for CY2025 increased 7.9% to 1,213.1 million cases. However, EBITDA margins dipped marginally by 26 basis points to 23.3% for the year, reflecting cost pressures and the impact of capacity additions that are still stabilising, the company said.
The board of directors has recommended a final dividend of ₹0.50 per equity share, subject to shareholder approval at the ensuing annual general meeting. During the year, the company expanded its manufacturing footprint with four new greenfield plants in India and announced the proposed acquisition of South Africa-based Twizza, as part of its push to scale operations in Africa.
VBL said its balance sheet remains strong, supported by healthy cash flows, providing headroom for organic expansion, investments in cold-chain and distribution infrastructure, and pursuit of value-accretive strategic opportunities.