Fast Moving Consumer Goods · NSE: VBL
Intrynsic's multi-model valuation estimates Varun Beverages Limited's fair value at ₹199 per share (range ₹150–₹259) against a market price of ₹430 - a gap of -53.7% (updated 29 September 2026). This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹430
close of 29 Sept 2026
Est. fair value
₹199
₹150–₹259
Gap
-53.7%
price vs estimate
Trading ~54% above our estimated fair-value range. Assumptions and per-model workings are below.
Varun Beverages is PepsiCo's bottler for India and several African markets, making and distributing Pepsi, 7Up, Sting and other drinks. Summer demand, new territories and distribution reach drive its growth.
Fast Moving Consumer Goods · Beverages
Over the last 3 years, revenue grew 18.1%/yr and profit grew 25.5%/yr.
Every ₹100 of shareholder money earned ₹15.6 in profit last year, vs a sector median of 8.7%.
Debt is only 0.13x shareholder equity — a light load.
The market price is above our estimated fair-value range (based on stated assumptions).
About ₹0 of every ₹100 of reported profit turned into free cash (median, last 5 years); operating cash flow was positive in 5 of 5 years.
Intrynsic values Varun Beverages Limited with 3 independent models and blends them into one estimated fair-value range. Every number below is an estimate based on the stated assumptions - change the assumptions and the estimate changes.
| Model | Estimated value | vs price | Weight |
|---|---|---|---|
| Forward DCF | ₹150 | -65% | - |
| EV/EBITDAIndustry Comparison Method | ₹199 | -54% | - |
| P/E MultipleEarnings Multiple Method | ₹259 | -40% | - |
| Revenue | ₹21,685 Cr | |
| Net profit | ₹3,062 Cr | |
| EPS | ₹8.98 | |
| Free cash flow | ₹3,509 Cr | |
| ROE (latest) | 15.6% | |
| Revenue growth (CAGR) | 21.1% | |
| Profit growth (CAGR) | 58.7% |
Intrynsic's multi-model valuation estimates Varun Beverages Limited's fair value at ₹199 per share (range ₹150–₹259), last updated 29 September 2026. This is an estimate based on stated assumptions, not investment advice.
Varun Beverages Limited trades at ₹430 against Intrynsic's estimated fair value of ₹199 - the market price is 54% above the estimate, i.e. above our estimated fair-value range. Different assumptions produce different estimates; see the model breakdown above.
Varun Beverages Limited trades at about 47.9 times its latest annual earnings per share.
Varun Beverages is PepsiCo's bottler for India and several African markets, making and distributing Pepsi, 7Up, Sting and other drinks. Summer demand, new territories and distribution reach drive its growth.
Intrynsic runs 3 valuation models for Varun Beverages Limited (Forward DCF, EV/EBITDA, P/E Multiple) and blends them into one estimated fair-value range. Every assumption - growth, discount rate, terminal value - is shown openly on this page.
Disclaimer: Intrynsic provides educational and informational analysis only. Fair-value figures are estimates based on stated assumptions - they are not investment advice, research recommendations, or an offer to transact in any security. Intrynsic is not a SEBI-registered investment adviser or research analyst. Markets carry risk; please do your own research or consult a registered adviser before making investment decisions. Prices shown may be delayed end-of-day values. Terms · Privacy