Varun Beverages Q3 CY2026 consolidated revenue Rs 6,815.59 cr, PAT Rs 830.59 cr

What the numbers show

• Net margin was 12.19% of revenue, down 212 bps from 14.31%.
• Total expenses rose 35.8% while revenue rose 33.3%.
• Cost of materials accounted for Rs 972.20 cr of the Rs 1,549.45 cr rise in total expenses (62%).
• Cost of materials took 42.7% of revenue, against 37.9% a year earlier.

• Revenue from operations (consolidated, three months ended 30 September 2026): Rs 6,815.59 cr, up from Rs 5,112.44 cr in the three months ended 30 September 2025 (statement of consolidated financial results).

• Total income: Rs 6,935.45 cr, compared with Rs 5,260.00 cr in the corresponding prior-year quarter.

• Total expenses: Rs 5,880.55 cr, versus Rs 4,331.10 cr a year earlier.

• Cost of materials consumed: Rs 2,909.62 cr, up from Rs 1,937.42 cr.

• Purchases of stock-in-trade: Rs 100.64 cr, compared with Rs 88.91 cr.

• Changes in inventories of finished goods, intermediate goods, stock-in-trade and work-in-progress: Rs 89.11 cr, versus Rs 134.95 cr.

• Employee benefits expense: Rs 602.56 cr, up from Rs 564.21 cr.

• Finance costs: Rs 71.69 cr, compared with Rs 46.71 cr.

• Depreciation and amortisation expense: Rs 419.98 cr, versus Rs 312.36 cr.

• Other expenses: Rs 1,478.92 cr, up from Rs 1,094.80 cr.

• Profit before tax: Rs 1,052.62 cr, compared with Rs 927.23 cr in the three months ended 30 September 2025.

• Net profit after tax (PAT): Rs 830.59 cr, versus Rs 731.51 cr a year earlier.

• Earnings per share (basic): Rs 2.45, up from Rs 2.15 in the corresponding prior-year quarter.

• Earnings per share (diluted): Rs 2.45, compared with Rs 2.15 a year earlier.

For the nine months ended 30 September 2026, consolidated revenue from operations was Rs 22,371.24 cr against Rs 18,101.12 cr in the nine months ended 30 September 2025, as per the statement of consolidated financial results. Total income for the nine-month period stood at Rs 22,640.31 cr versus Rs 18,354.15 cr, while total expenses were Rs 18,469.18 cr compared with Rs 14,729.86 cr.

Nine-month profit before tax was Rs 4,160.62 cr, up from Rs 3,620.84 cr in the corresponding period of the previous year. Net profit after tax for the nine months ended 30 September 2026 was Rs 3,202.30 cr, compared with Rs 2,772.12 cr for the nine months ended 30 September 2025. Basic earnings per share for the nine-month period were reported at Rs 9.43, versus Rs 8.15 a year earlier, and diluted earnings per share were Rs 9.43, compared with Rs 8.14 in the prior-year nine months.

According to the statement of consolidated financial results, depreciation and amortisation expense and finance costs both increased year-on-year for the quarter and nine-month periods, alongside higher cost of materials consumed and other expenses. The company also reported total other comprehensive income of Rs 9.99 cr for the quarter, taking total comprehensive income for the three months ended 30 September 2026 to Rs 840.59 cr, versus Rs 864.66 cr in the same quarter of the previous year.