Varun Beverages Limited
Varun Beverages Limited, together with its subsidiaries, manufactures, bottles, sells, and distributes beverages and value-added products under the PepsiCo brands. It offers carbonated soft drinks under the Pepsi, Pepsi Zero, Mountain Dew, Mirinda, and 7UP brands, as well as Refreshhh, Coo-ee, and Jive brands; fruit pulp/juice-based drinks under the Tropicana, Tropicana Delight, Slice, and Nimboo… Read more
Varun Beverages Limited (VBL) - Net Assets
Latest net assets as of June 2025: ₹185.07 Billion INR
Based on the latest financial reports, Varun Beverages Limited (VBL) has net assets worth ₹185.07 Billion INR as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹247.16 Billion) and total liabilities (₹62.09 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹185.07 Billion |
| % of Total Assets | 74.88% |
| Annual Growth Rate | 46.48% |
| 5-Year Change | 366.44% |
| 10-Year Change | N/A |
| Growth Volatility | 70.13 |
Varun Beverages Limited - Net Assets Trend (2012–2024)
This chart illustrates how Varun Beverages Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Varun Beverages Limited (2012–2024)
The table below shows the annual net assets of Varun Beverages Limited from 2012 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₹167.40 Billion | +136.26% |
| 2023-12-31 | ₹70.85 Billion | +35.85% |
| 2022-12-31 | ₹52.15 Billion | +24.28% |
| 2021-12-31 | ₹41.97 Billion | +16.94% |
| 2020-12-31 | ₹35.89 Billion | +6.84% |
| 2019-12-31 | ₹33.59 Billion | +67.43% |
| 2018-12-31 | ₹20.06 Billion | +13.48% |
| 2017-12-31 | ₹17.68 Billion | -6.65% |
| 2016-12-31 | ₹18.94 Billion | +905.06% |
| 2015-12-31 | ₹-2.35 Billion | -168.57% |
| 2014-12-31 | ₹3.43 Billion | +59.30% |
| 2013-12-31 | ₹2.15 Billion | +25.49% |
| 2012-12-31 | ₹1.72 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Varun Beverages Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 12700.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹68.58 Billion | 41.29% |
| Common Stock | ₹6.76 Billion | 4.07% |
| Other Comprehensive Income | ₹-6.19 Billion | -3.72% |
| Other Components | ₹96.94 Billion | 58.36% |
| Total Equity | ₹166.10 Billion | 100.00% |
Varun Beverages Limited Competitors by Market Cap
The table below lists competitors of Varun Beverages Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kingfisher plc
OTCQX:KGFHF
|
$6.03 Billion |
|
The Hanover Insurance Group Inc
NYSE:THG
|
$6.04 Billion |
|
Jefferies Financial Group Inc
NYSE:JEF
|
$6.04 Billion |
|
IMI plc
PINK:IMIAF
|
$6.04 Billion |
|
Archrock Inc
NYSE:AROC
|
$6.03 Billion |
|
SIG Combibloc Group AG
PINK:SIGCY
|
$6.02 Billion |
|
Dassault Aviation SA
PINK:DUAVF
|
$6.02 Billion |
|
Far EasTone Telecommunications Co Ltd
TW:4904
|
$6.01 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Varun Beverages Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 69,364,980,000 to 166,098,290,000, a change of 96,733,310,000 (139.5%).
- Net income of 25,946,330,000 contributed positively to equity growth.
- Dividend payments of 3,248,200,000 reduced retained earnings.
- Share repurchases of 75,118,800,000 reduced equity.
- New share issuances of 75,118,800,000 increased equity.
- Other comprehensive income decreased equity by 754,880,001.
- Other factors increased equity by 74,790,060,001.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹25.95 Billion | +15.62% |
| Dividends Paid | ₹3.25 Billion | -1.96% |
| Share Repurchases | ₹75.12 Billion | -45.23% |
| Share Issuances | ₹75.12 Billion | +45.23% |
| Other Comprehensive Income | ₹-754.88 Million | -0.45% |
| Other Changes | ₹74.79 Billion | +45.03% |
| Total Change | ₹- | 139.46% |
Book Value vs Market Value Analysis
This analysis compares Varun Beverages Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.89x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 759.47x to 7.89x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | ₹0.53 | ₹401.30 | x |
| 2013-12-31 | ₹0.66 | ₹401.30 | x |
| 2014-12-31 | ₹1.06 | ₹401.30 | x |
| 2015-12-31 | ₹-0.95 | ₹401.30 | x |
| 2016-12-31 | ₹6.64 | ₹401.30 | x |
| 2017-12-31 | ₹5.45 | ₹401.30 | x |
| 2018-12-31 | ₹6.15 | ₹401.30 | x |
| 2019-12-31 | ₹10.25 | ₹401.30 | x |
| 2020-12-31 | ₹10.85 | ₹401.30 | x |
| 2021-12-31 | ₹12.56 | ₹401.30 | x |
| 2022-12-31 | ₹15.71 | ₹401.30 | x |
| 2023-12-31 | ₹21.35 | ₹401.30 | x |
| 2024-12-31 | ₹50.86 | ₹401.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Varun Beverages Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.62%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.97%
- • Asset Turnover: 0.86x
- • Equity Multiplier: 1.39x
- Recent ROE (15.62%) is above the historical average (10.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 14.63% | 1.39% | 0.70x | 14.89x | ₹79.47 Million |
| 2013 | -18.36% | -1.87% | 0.71x | 13.88x | ₹-610.66 Million |
| 2014 | -5.88% | -0.81% | 0.76x | 9.60x | ₹-544.64 Million |
| 2015 | 0.00% | 3.33% | 0.75x | 0.00x | ₹1.35 Billion |
| 2016 | 2.24% | 1.10% | 0.74x | 2.76x | ₹-1.47 Billion |
| 2017 | 11.88% | 5.24% | 0.76x | 2.99x | ₹332.11 Million |
| 2018 | 14.65% | 5.74% | 0.85x | 3.02x | ₹929.91 Million |
| 2019 | 14.09% | 6.58% | 0.85x | 2.52x | ₹1.36 Billion |
| 2020 | 9.34% | 5.10% | 0.76x | 2.40x | ₹-234.05 Million |
| 2021 | 17.01% | 7.87% | 0.92x | 2.35x | ₹2.86 Billion |
| 2022 | 29.35% | 11.37% | 1.13x | 2.28x | ₹9.87 Billion |
| 2023 | 29.64% | 12.82% | 1.06x | 2.19x | ₹13.62 Billion |
| 2024 | 15.62% | 12.97% | 0.86x | 1.39x | ₹9.34 Billion |
Industry Comparison
This section compares Varun Beverages Limited's net assets metrics with peer companies in the Beverages - Non-Alcoholic industry.
Industry Context
- Industry: Beverages - Non-Alcoholic
- Average net assets among peers: $2,230,287,500
- Average return on equity (ROE) among peers: 2.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Varun Beverages Limited (VBL) | ₹185.07 Billion | 14.63% | 0.34x | $6.03 Billion |
| Shree Rama Newsprint Limited (RAMANEWS) | $2.80 Billion | -2.00% | 1.55x | $12.94 Million |
| Vintage Coffee and Beverages Limited (VINCOFE) | $1.66 Billion | 7.21% | 0.73x | $13.36K |