External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>VBL is expected to maintain its strong growth momentum driven by several key factors: 1) The successful strategic acquisition of the Beverage Company, which consolidates its presence in South Africa and DRC;</li><li>2) Expansion of its snacks portfolio outside India, particularly in Zimbabwe and Zambia;</li><li>3) Continued focus on increasing distribution reach, especially in rural areas;</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VBL is expected to maintain its strong growth momentum driven by several key factors: 1) The successful strategic acquisition of the Beverage Company, which consolidates its presence in South Africa and DRC;2) Expansion of its snacks portfolio outside India, particularly in Zimbabwe and Zambia;3) Continued focus on increasing distribution reach, especially in rural areas;Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Varun Beverages Ltd - Higher Opex Played the Spoilsport, Outlook Remain Strong

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Varun Beverages (VBL) has inched closer to its goal of becoming a full-scale F&amp;B player with the recent agreement with PepsiCo to manufacture, distribute, and sell snack food items in Zimbabwe and Zambia.</li><li>We believe this agreement will serve as a building block for VBL’s snack food business.</li><li>This is an exclusive snacks franchising agreement with PepsiCo to manufacture, distribute, and sell snack foods under the brand name “Simba Munchiez” in Zimbabwe and Zambia.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Varun Beverages (VBL) has inched closer to its goal of becoming a full-scale F&amp;B player with the recent agreement with PepsiCo to manufacture, distribute, and sell snack food items in Zimbabwe and Zambia.We believe this agreement will serve as a building block for VBL’s snack food business.This is an exclusive snacks franchising agreement with PepsiCo to manufacture, distribute, and sell snack foods under the brand name “Simba Munchiez” in Zimbabwe and Zambia.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Varun Beverages - Hungry For More: Scaling up Snack Food Business

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage</li>
<li>Varun is now focusing on interesting geographies and products which will aid its next level of growth</li>
<li>There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history</li>
</ul>


VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage
Varun is now focusing on interesting geographies and products which will aid its next level of growth
There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history


What Next for Varun Beverages: The Next Leg of Growth Drivers

<ul><li>The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.</li><li>The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).</li><li>The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Varun Beverages Ltd - STRONG VOLUME-LED GROWTH CONTINUES

<ul><li>The company achieved a strong all-round performance despite weak and challenging demand environment witnessing a volume growth of 13.9% YoY in CY23.</li><li>This growth was primarily fueled by robust double-digit volume expansion in both Indian and international markets.</li><li>Additionally, the realization per case increased by 7% to Rs 176, attributed to a more favourable product mix emphasizing 250 ML smaller SKUs (with higher realization per unit), greater prominence of the Sting portfolio, and enhanced realization in international markets.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company achieved a strong all-round performance despite weak and challenging demand environment witnessing a volume growth of 13.9% YoY in CY23.This growth was primarily fueled by robust double-digit volume expansion in both Indian and international markets.Additionally, the realization per case increased by 7% to Rs 176, attributed to a more favourable product mix emphasizing 250 ML smaller SKUs (with higher realization per unit), greater prominence of the Sting portfolio, and enhanced realization in international markets.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Varun Beverages Ltd - Robust All-Round Performance

India

Varun Beverages Limited produces and distributes beverages. The Company offers carbonated soft drinks and non-alcoholic beverages, as well as provides packaged drinking water. Varun Beverages serves customers worldwide.

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Varun Beverages (VBL IN)

Varun Beverages Ltd - Higher Opex Played the Spoilsport, Outlook Remain Strong

VBL is expected to maintain its strong growth momentum driven by several key factors: 1) The successful strategic acquisition of the Beverage Company,

Axis Direct

Varun Beverages - Hungry For More: Scaling up Snack Food Business

This is an exclusive snacks franchising agreement with PepsiCo to manufacture, distribute, and sell snack foods under the brand name “Simba...

Motilal Oswal

What Next for Varun Beverages: The Next Leg of Growth Drivers

Varun Beverage's Next Leg of Growth Drivers can re-write multiple success stories similar to Sting. Here is what will derive Varun Beverage in the...

Sudarshan Bhandari

Varun Beverages Ltd - STRONG VOLUME-LED GROWTH CONTINUES

The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi...

Axis Direct

Varun Beverages Ltd - Robust All-Round Performance

The company achieved a strong all-round performance despite weak and challenging demand environment witnessing a volume growth of 13.9% YoY in CY23.

Axis Direct

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