{"id":9892,"date":"2026-10-30T16:40:39","date_gmt":"2026-10-30T11:10:39","guid":{"rendered":"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-30\/"},"modified":"2026-10-30T16:40:42","modified_gmt":"2026-10-30T11:10:42","slug":"vbl-share-price-today-2026-10-30","status":"publish","type":"post","link":"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-30\/","title":{"rendered":"Varun Beverages Share Price Today: Why VBL Is Falling 5.50% | 30 October 2026"},"content":{"rendered":"<style id=\"wt-article-style-v4\">:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) { color:#30475c; font-size:16px; line-height:1.65; min-width:0; }\n:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) *, :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) *::before, :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) *::after { box-sizing:border-box; }\n:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-copy { font-size:16px !important; 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gap:10px; }\n}\n@media (max-width:650px) {\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-grid { grid-template-columns:1fr; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-grid-metrics { grid-template-columns:repeat(2,minmax(0,1fr)); }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-card { padding:14px; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-insider-row { grid-template-columns:repeat(2,minmax(0,1fr)); gap:10px 14px; padding:12px 0; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-insider-person, :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-insider-row > div:last-child { grid-column:1 \/ -1; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-cta { padding:17px 15px; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-cta-title { font-size:18px; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-price-strip > div { padding:9px !important; }\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-grid-funds .wt-card-title, :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-grid-funds .wt-card-body { font-size:15px; }\n}\n@media (max-width:420px) {\n :is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-price-strip { grid-template-columns:repeat(2,minmax(0,1fr)); }\n}<\/p>\n<p>:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-price-strip > div {border:1px solid #dde6ee;border-radius:8px;background:#f9fbfd;}\n:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) .wt-price-strip > div > div:last-child {font-weight:800;color:#17324d;}\n:is(.wt-article-v4,.single-post .entry-content .wt-article-v4) h2 {font-size:24px !important;line-height:1.35 !important;margin:28px 0 14px !important;color:#173b58;}\n<\/style>\n<div class=\"wt-article-v4\" data-witty-phase=\"live\" data-article-version=\"4\">\n<p class=\"wt-market-date\"><strong>NSE: VBL<\/strong> \u00b7 30 October 2026<\/p>\n<div class=\"wt-price-strip\">\n<div>\n<div>Price<\/div>\n<div>\u20b9392.00<\/div>\n<\/div>\n<div>\n<div>Change<\/div>\n<div>-5.50%<\/div>\n<\/div>\n<div>\n<div>High \/ Low<\/div>\n<div>\u20b9416.20 \/ \u20b9389.90<\/div>\n<\/div>\n<div>\n<div>Prev. Close<\/div>\n<div>\u20b9414.80<\/div>\n<\/div>\n<div>\n<div>Volume<\/div>\n<div>1.37 crore<\/div>\n<\/div>\n<div>\n<div>Price as of<\/div>\n<div>30 October 2026 \u00b7 03:25 PM IST<\/div>\n<\/div>\n<\/div>\n<div class=\"wt-takeaways\">\n<div class=\"wt-card\" data-card=\"research\" style=\"background:#f4f8fd;border:1px solid #cbd8ea;border-left:4px solid #466fa5;border-radius:10px\">\n<div class=\"wt-card-title\">Key Takeaways<\/div>\n<div class=\"wt-card-body\">\n<ul class=\"wt-list\">\n<li>Varun Beverages Limited shares declined 5.50% today, closing at \u20b9392.00 after trading within a day&#x27;s range of \u20b9389.90 to \u20b9416.20.<\/li>\n<li>Varun Beverages (Zimbabwe) (Private) Limited, a subsidiary of the company, entered into an exclusive distribution agreement with Mondelez South Africa Proprietary Limited. Effective October 1, 2026, the agreement covers the exclusive distribution of Mondelez chocolate, biscuit, candy, and gum products across the Republic of Zimbabwe.<\/li>\n<li>Trading volume was 2.89 times the 20-day average daily volume.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2>Why is Varun Beverages share price falling on 30 October 2026?<\/h2>\n<div class=\"wt-prose\">\n<p class=\"wt-copy\">Varun Beverages Limited shares declined 5.50% today, closing at \u20b9392.00 after trading within a day&#x27;s range of \u20b9389.90 to \u20b9416.20.<\/p>\n<p class=\"wt-copy\">The broader market showed positive momentum as the Nifty advanced 0.51%, whereas the Nifty FMCG sector benchmark slipped 0.62%. Varun Beverages underperformed both the broader benchmark and its sector peers, extending its recent retracement that reflects a 20-day return decline of 9.26%.<\/p>\n<p class=\"wt-copy\">Company disclosures released on October 30, 2026, highlighted financial results for the third quarter and nine months ended September 30, 2026, alongside an announcement for a third interim dividend of \u20b90.50 per equity share with a record date of November 5, 2026.<\/p>\n<p class=\"wt-copy\">1.37 crore shares traded by 30 October 2026 \u00b7 03:25 PM IST. This compares with a 20-day average daily volume of 47.28 lakh shares (2.89 times). The five-day average daily volume was 45.81 lakh shares. Separately, the NSE report for 29 October 2026 showed 10.70 lakh shares delivered, representing 40.76% of that day\u2019s traded volume. The same report recorded 37,689 trades.<\/p>\n<\/div>\n<div class=\"wt-likely-reason\">\n<div class=\"wt-card\" data-card=\"research\" style=\"background:#f4f8fd;border:1px solid #cbd8ea;border-left:4px solid #466fa5;border-radius:10px\">\n<div class=\"wt-card-title\">Likely Reason<\/div>\n<div class=\"wt-card-body\"><strong>sector underperformance and recent price weakness accompanied by heavy volume<\/strong><\/p>\n<p class=\"wt-copy\">The stock declined 5.50% on heavy volume nearly three times its 20-day average. While the company released quarterly earnings and announced an interim dividend on the same day, no direct causal link was established between the filing and the downward price move, aligning the pullback more closely with technical selling or profit-taking following recent downward pressure.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"wt-cta wt-cta-yellow\">\n<div class=\"wt-cta-title\">Research the Market \u2014 Not Just the Headline<\/div>\n<p class=\"wt-cta-copy\">Explore WittyTrades research across market segments.<\/p>\n<p><a class=\"wt-cta-button\" href=\"https:\/\/www.wittytrades.com\/Segments.html\">Explore WittyTrades Research \u2192<\/a><\/aside>\n<h2>Latest Company Developments<\/h2>\n<div class=\"wt-grid wt-grid-news\">\n<div class=\"wt-card\" data-card=\"news\" style=\"background:#fff;border:1px solid #dce5eb;border-left:4px solid #2e7db2;border-radius:10px\">\n<div class=\"wt-card-title\">Exclusive Distribution Agreement in Zimbabwe<\/div>\n<div class=\"wt-card-date\">24 September 2026<\/div>\n<div class=\"wt-card-body\">\n<p class=\"wt-copy\">Varun Beverages (Zimbabwe) (Private) Limited, a subsidiary of the company, entered into an exclusive distribution agreement with Mondelez South Africa Proprietary Limited. Effective October 1, 2026, the agreement covers the exclusive distribution of Mondelez chocolate, biscuit, candy, and gum products across the Republic of Zimbabwe.<\/p>\n<p class=\"wt-copy\">Expands the product portfolio and distribution footprint in international African markets.<\/p>\n<\/div>\n<\/div>\n<div class=\"wt-card\" data-card=\"news\" style=\"background:#fff;border:1px solid #dce5eb;border-left:4px solid #2e7db2;border-radius:10px\">\n<div class=\"wt-card-title\">Incorporation of KIVA Spirits and Company Limited<\/div>\n<div class=\"wt-card-date\">31 August 2026<\/div>\n<div class=\"wt-card-body\">\n<p class=\"wt-copy\">The company incorporated a wholly-owned subsidiary in India named KIVA Spirits and Company Limited to carry on the business of Ready-to-Drink (RTD) beverages, alcoholic beverages, and allied products. Prathmesh Mishra was appointed as CEO &amp; Managing Director to lead the new business unit.<\/p>\n<p class=\"wt-copy\">Marks the company&#x27;s strategic entry and diversification into adjacent categories such as alcoholic and ready-to-drink beverages.<\/p>\n<p><a class=\"wt-source\" href=\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_31082026092155_Update.pdf\" rel=\"noopener\">Original source \u2192<\/a><\/div>\n<\/div>\n<div class=\"wt-card\" data-card=\"news\" style=\"background:#fff;border:1px solid #dce5eb;border-left:4px solid #2e7db2;border-radius:10px\">\n<div class=\"wt-card-title\">Management \/ board update<\/div>\n<div class=\"wt-card-date\">7 October 2026<\/div>\n<div class=\"wt-card-body\">\n<p class=\"wt-copy\">Investment and Borrowing Committee of the Board of Directors at its meeting held today approved to invest upto 26% of Equity Share Capital of Jager Renewables Private Limited (a special purpose vehicle inter-alia engaged to generate &amp; supply solar power to consumers in the state of Uttar Pradesh) for a consideration of upto Rs. 4.10 Crore to obtain solar power for captive consumption as per details in enclosed intimation.<\/p>\n<p><a class=\"wt-source\" href=\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_07102026154901_OutcomeIBC.pdf\" rel=\"noopener\">Original source \u2192<\/a><\/div>\n<\/div>\n<\/div>\n<h2>Ownership &amp; Transaction Activity<\/h2>\n<div class=\"wt-grid wt-grid-ownership\">\n<div class=\"wt-card\" data-card=\"ownership\" style=\"background:#fff8e8;border:1px solid #ecd39e;border-left:4px solid #cc922c;border-radius:10px\">\n<div class=\"wt-card-title\">Shareholding<\/div>\n<div class=\"wt-card-date\">As of 30 September 2026<\/div>\n<div class=\"wt-card-body\">\n<div class=\"wt-grid wt-grid-metrics\">\n<div class=\"wt-metric\">\n<div class=\"wt-label\">Promoter holding<\/div>\n<div class=\"wt-value\">59.43%<\/div>\n<div class=\"wt-note\">59.43% on 30 June 2026<\/div>\n<\/div>\n<div class=\"wt-metric\">\n<div class=\"wt-label\">FII\/FPI<\/div>\n<div class=\"wt-value\">17.53%<\/div>\n<div class=\"wt-note\">19.03% on 30 June 2026<\/div>\n<\/div>\n<div class=\"wt-metric\">\n<div class=\"wt-label\">Institutional holding<\/div>\n<div class=\"wt-value\">33.87%<\/div>\n<div class=\"wt-note\">34.24% on 30 June 2026<\/div>\n<\/div>\n<\/div>\n<p><a class=\"wt-source\" href=\"https:\/\/nsearchives.nseindia.com\/corporate\/xbrl\/SHP_1734926_09102026041454_WEB.xml\" rel=\"noopener\">NSE shareholding filing \u2192<\/a><\/div>\n<\/div>\n<\/div>\n<h2>Mutual Fund Holdings<\/h2>\n<div class=\"wt-card\" data-card=\"funds\" style=\"background:#f7f9fc;border:1px solid #d5e0ea;border-left:4px solid #6a849c;border-radius:10px\">\n<div class=\"wt-card-title\">Mutual-fund ownership<\/div>\n<div class=\"wt-card-body\">\n<p class=\"wt-copy\">Mutual funds held 9.79% on 30 September 2026. This compares with 9.06% on 30 June 2026, a change of +0.73 percentage points.<\/p>\n<p class=\"wt-copy\">The filing reported 46 MF\/UTI holders.<\/p>\n<div class=\"wt-grid wt-grid-funds\">\n<div class=\"wt-card\" data-card=\"funds\" style=\"background:#f7f9fc;border:1px solid #d5e0ea;border-left:4px solid #6a849c;border-radius:10px\">\n<div class=\"wt-card-title\">NIPPON LIFE INDIA TRUSTEE LTD.-A\/C NIPPON INDIA BS<\/div>\n<div class=\"wt-card-date\">30 September 2026<\/div>\n<div class=\"wt-card-body\">6.62 crore shares \u00b7 1.96%<\/div>\n<\/div>\n<div class=\"wt-card\" data-card=\"funds\" style=\"background:#f7f9fc;border:1px solid #d5e0ea;border-left:4px solid #6a849c;border-radius:10px\">\n<div class=\"wt-card-title\">SBI AGGRESSIVE HYBRID FUND<\/div>\n<div class=\"wt-card-date\">30 September 2026<\/div>\n<div class=\"wt-card-body\">6.15 crore shares \u00b7 1.82%<\/div>\n<\/div>\n<\/div>\n<div class=\"wt-note wt-source-note\">These are quarterly holdings, rather than purchases or sales on the article date.<\/div>\n<p><a class=\"wt-source\" href=\"https:\/\/nsearchives.nseindia.com\/corporate\/xbrl\/SHP_1734926_09102026041454_WEB.xml\" rel=\"noopener\">NSE shareholding filing \u2192<\/a><\/div>\n<\/div>\n<h2>Research &amp; Brokerage Views<\/h2>\n<div class=\"wt-grid wt-grid-brokerage\">\n<div class=\"wt-card\" data-card=\"research\" style=\"background:#f4f8fd;border:1px solid #cbd8ea;border-left:4px solid #466fa5;border-radius:10px\">\n<div class=\"wt-card-title\">Motilal Oswal<\/div>\n<div class=\"wt-card-date\">18 March 2026<\/div>\n<div class=\"wt-card-body\">\n<div class=\"wt-broker-facts\"><span><span class=\"wt-label\">Rating<\/span><strong>Buy<\/strong><\/span><span><span class=\"wt-label\">Target price<\/span><strong>\u20b9550.00<\/strong><\/span><\/div>\n<p class=\"wt-copy\">Maintained a positive rating with a target price of \u20b9550 based on growth expectations and market expansion.<\/p>\n<div class=\"wt-note wt-source-note\">Attributed brokerage opinion; not a WittyTrades recommendation.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2>What to Watch Next<\/h2>\n<ul class=\"wt-list\">\n<li>Stock price stabilization near the 52-week low of \u20b9381.00<\/li>\n<li>Execution and volume trends following the recent Q3 CY2026 financial results<\/li>\n<li>Share price reaction around the interim dividend record date on November 5, 2026<\/li>\n<li>Progress on international expansion and new subsidiary operations in Africa and India<\/li>\n<\/ul>\n<h2>Other Dated Coverage<\/h2>\n<ul class=\"wt-list\">\n<li><a href=\"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-23\/\">Varun Beverages Share Price Today: Why VBL Is Falling 1.42% | 23 October 2026 \u2014 23 October 2026<\/a><\/li>\n<li><a href=\"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-22\/\">Varun Beverages Share Price Today: Why VBL Is Falling 1.86% | 22 October 2026 \u2014 22 October 2026<\/a><\/li>\n<li><a href=\"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-19\/\">Varun Beverages Share Price Today: Why VBL Is Falling 2.71% | 19 October 2026 \u2014 19 October 2026<\/a><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.wittytrades.com\/market-news\/tag\/vbl\/\">More Varun Beverages news and dated analysis \u2192<\/a><\/p>\n<aside class=\"wt-cta wt-cta-dark\">\n<div class=\"wt-cta-title\">Looking for Research-Backed Market Opportunities?<\/div>\n<p class=\"wt-cta-copy\">Explore WittyTrades research across market segments.<\/p>\n<p><a class=\"wt-cta-button\" href=\"https:\/\/www.wittytrades.com\/Segments.html\">Explore WittyTrades Research \u2192<\/a><\/aside>\n<h2>Frequently Asked Questions<\/h2>\n<div class=\"wt-faq\">\n<h3>What is the latest Varun Beverages company news?<\/h3>\n<p class=\"wt-copy\">Varun Beverages (Zimbabwe) (Private) Limited, a subsidiary of the company, entered into an exclusive distribution agreement with Mondelez South Africa Proprietary Limited. Effective October 1, 2026, the agreement covers the exclusive distribution of Mondelez chocolate, biscuit, candy, and gum products across the Republic of Zimbabwe.<\/p>\n<h3>How strong was Varun Beverages\u2019s trading volume?<\/h3>\n<p class=\"wt-copy\">1.37 crore shares traded, 2.89 times the 20-day average daily volume. The price and volume data are dated 30 October 2026 \u00b7 03:25 PM IST.<\/p>\n<h3>Do the mutual-fund figures show buying today?<\/h3>\n<p class=\"wt-copy\">They show holdings on 30 September 2026. Quarterly holdings do not identify purchases made on the article date.<\/p>\n<\/div>\n<p><strong>Research &amp; analysis:<\/strong> <a href=\"https:\/\/www.wittytrades.com\/About_Us.html\">WittyTrades Research Desk<\/a><br \/><strong>Reviewed by:<\/strong> <a href=\"https:\/\/www.wittytrades.com\/About_Us.html\">Mohanish Sanghavi \u2014 SEBI Registered Research Analyst<\/a><\/p>\n<p>Disclaimer: Investments in securities markets are subject to market risks. Registration with SEBI and NISM certification do not guarantee performance or returns. This article is for information and education, not personalised investment advice or a recommendation to buy, sell or hold.<\/p>\n<\/div>\n<p><script type=\"application\/ld+json\">{\"@context\": \"https:\/\/schema.org\", \"@graph\": [{\"@type\": \"WebSite\", \"@id\": \"https:\/\/www.wittytrades.com\/#website\", \"url\": \"https:\/\/www.wittytrades.com\/\", \"name\": \"WittyTrades\", \"publisher\": {\"@id\": \"https:\/\/www.wittytrades.com\/#organization\"}, \"inLanguage\": \"en-IN\"}, {\"@type\": \"Organization\", \"@id\": \"https:\/\/www.wittytrades.com\/#organization\", \"name\": \"WittyTrades\", \"alternateName\": \"Witty Networks\", \"url\": \"https:\/\/www.wittytrades.com\/\", \"telephone\": \"+91-22-48972020\", \"identifier\": [{\"@type\": \"PropertyValue\", \"propertyID\": \"SEBI Research Analyst Registration\", \"value\": \"INH000008172\"}, {\"@type\": \"PropertyValue\", \"propertyID\": \"BSE Research Analyst Code\", \"value\": \"5430\"}]}, {\"@type\": \"Organization\", \"@id\": \"https:\/\/www.wittytrades.com\/#research-desk\", \"name\": \"WittyTrades Research Desk\", \"url\": \"https:\/\/www.wittytrades.com\/About_Us.html\", \"parentOrganization\": {\"@id\": \"https:\/\/www.wittytrades.com\/#organization\"}}, {\"@type\": \"Person\", \"@id\": \"https:\/\/www.wittytrades.com\/About_Us.html#mohanish-sanghavi\", \"name\": \"Mohanish Sanghavi\", \"jobTitle\": \"SEBI Registered Research Analyst\", \"url\": \"https:\/\/www.wittytrades.com\/About_Us.html\", \"worksFor\": {\"@id\": \"https:\/\/www.wittytrades.com\/#organization\"}, \"identifier\": {\"@type\": \"PropertyValue\", \"propertyID\": \"SEBI Research Analyst Registration\", \"value\": \"INH000008172\"}}, {\"@type\": \"NewsArticle\", \"@id\": \"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-30\/#article\", \"mainEntityOfPage\": {\"@type\": \"WebPage\", \"@id\": \"https:\/\/www.wittytrades.com\/market-news\/vbl-share-price-today-2026-10-30\/\"}, \"headline\": \"Varun Beverages Share Price Today: Why VBL Is Falling 5.50% | 30 October 2026\", \"description\": \"Varun Beverages share price fell 5.50% to \u20b9392.00 today. See why VBL is falling, volume context, company developments and what to watch next.\", \"datePublished\": \"2026-10-30T16:40:29.555569+05:30\", \"dateModified\": \"2026-10-30T16:40:29.555569+05:30\", \"author\": {\"@id\": \"https:\/\/www.wittytrades.com\/#research-desk\"}, \"reviewedBy\": {\"@id\": \"https:\/\/www.wittytrades.com\/About_Us.html#mohanish-sanghavi\"}, \"publisher\": {\"@id\": \"https:\/\/www.wittytrades.com\/#organization\"}, \"isPartOf\": {\"@id\": \"https:\/\/www.wittytrades.com\/#website\"}, \"about\": {\"@type\": \"Thing\", \"name\": \"Varun Beverages\", \"identifier\": {\"@type\": \"PropertyValue\", \"propertyID\": \"NSE Symbol\", \"value\": \"VBL\"}}, \"inLanguage\": \"en-IN\", \"isAccessibleForFree\": true, \"image\": [\"https:\/\/www.wittytrades.com\/market-news\/wp-content\/uploads\/2026\/10\/vbl-company-news-2026-10-30.jpg\"]}]}<\/script><!-- wt-article-record:{\"news_events\":[{\"title\":\"Dividend\",\"summary\":\"Varun Beverages Limited has informed the Exchange that Board of Directors at its meeting held on October 30, 2026, declared 3rd Interim Dividend of Rs. 0.50 per equity share.\",\"source\":\"NSE\",\"published\":\"30-Oct-2026 12:10:32\",\"source_type\":\"official filing\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026120957_Outcome30102026.pdf\",\"disclosure_text\":\"\"},{\"title\":\"Record Date\",\"summary\":\"Varun Beverages Limited has informed the Exchange that Record date for the purpose of 3rd Interim Dividend  is 05-Nov-2026.\",\"source\":\"NSE\",\"published\":\"30-Oct-2026 12:07:36\",\"source_type\":\"official filing\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026120712_Outcome30102026.pdf\",\"disclosure_text\":\"\"},{\"title\":\"Press Release\",\"summary\":\"Press Release\",\"source\":\"NSE\",\"published\":\"30-Oct-2026 12:04:50\",\"source_type\":\"official filing\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026120438_PressRelease.pdf\",\"disclosure_text\":\"October 30, 2026 To, National Stock Exchange of India Ltd. Exchange Plaza, Block G, C\/1, Bandra Kurla Complex, Bandra (E), Mumbai \u2013 400 051 Email: cmlist@nse.co.in Symbol: VBL BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai \u2013 400 001 Email: corp.relations@bseindia.com Security Code: 540180 Sub: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Press Release Dear Sir\/Madam, Please find attached herewith a copy of the Proposed Press Release to be issued by the Company. The same is also being uploaded on website of the Company at www.varunbeverages.com. You are requested to take the above on record. Yours faithfully, For Varun Beverages Limited Ravi Batra Chief Risk Officer & Group Company Secretary Encl.: As above Varun Beverages\u2019 Q3 & 9M CY2026 Financial Results Gurgaon, October 30, 2026: Varun Beverages Limited (BSE: 540180, NSE: VBL), a key player in the beverage industry, announced its financial results for the third quarter and nine months ended September 30, 2026. Financial Performance Highlights* Performance Review for Q3 2026 vs. Q3 2025 \u2022 Revenue from operations (net of excise \/ GST) grew by 33.2% YoY to Rs. 66,075.6 million in Q3 2026 as compared to Rs. 49,606.9 million in Q3 CY2025 o Consolidated sales volume grew by 28.7% to 354.4 million cases in Q3 CY2026 from 275.3 million cases in Q3 CY2025, driven by robust volume growth of 22.5% in India and 39.9% in international territories o Consolidated beverage realization per case improved by 2.2% at the consolidated level supported by a 0.5% increase in India on account of growth in high value categories and further launch of premium categories (Ad Rush, Evervess mixers range), calibrated discounting and an efficient price pack architecture. o In International markets, realization per case improved on account of improved realization in South Africa and foreign exchange impact. o International volumes includes 15.3 million cases during the quarter from the acquisition of Twizza in South Africa. o CSD constituted 73.3%, JBD 4.8% and Packaged Drinking Water 21.9% in Q3 CY2026. \u2022 Gross margin declined by 334 bps to 53.1% in Q3 CY2026, primarily due to higher packaging material costs, including preforms, shrink films, closures, and cans, driven by geopolitical disruptions o Margins were also impacted by higher sale of non -beverage products like preforms, caps, etc. in India, which increased by 104% during the quarter and has a higher COGS, impacting gross margins by about 100bps in India. Q3 2026 Revenue grew 33.2% YoY to Rs. 66,075.6 mn EBITDA higher by 25.1% YoY to Rs. 14,267.1 mn PAT higher by 13.5% YoY to Rs. 8,305.9 mn 9M 2026 Revenue grew 23.3% YoY to Rs. 218,145.5 mn EBITDA higher by 19.9% YoY to Rs. 52,745.8 mn PAT increased by 15.5% to Rs. 32,023.0 mn o The increase in sugar prices by about 16% were largely offset by an increase in mix of low sugar \/ no sugar products growing from 44% in Q3 CY2025 to 88% in Q3 CY2026 in India. This is after considering the sharing of sugar reduction benefits with PepsiCo as part of concentrate cost for transition to low sugar portfolio. o In 3M CY2026, mix of Low sugar \/ No sugar products has increased to ~ 86% of our consolidated sales volumes. \u2022 EBITDA increased by 25.1% to Rs. 14,267.1 million in Q3 2026 from Rs. 11,404.1 million in Q3 2025. o EBITDA margin moderated by 140 bps YoY to 21.6% in Q3 CY2026, primarily due to gross margin contraction, partially offset by operating leverage from robust volume growth in India and international territories o Despite significant supply chain disruptions arising from geopolitical developments, EBITDA margins in India remained broadly stable YoY during 9M CY2026 \u2022 PAT increased by 13.5% to Rs. 8,305.9 million in Q3 CY2026 from Rs. 7,315.1 million in Q3 CY2025 driven by strong volume growth in India and International territories o Depreciation and finance costs increased by 34.5% and 53.5% YoY, respectively, primarily on account of the acquisition of Twizza in South Africa and the associated debt funding o Other income decreased by 18.8% YoY, reflecting relatively stable currency movements during the quarter Performance Review for 9M 2026 vs. 9M 2025 \u2022 Revenue from operations grew 23.3% YoY to Rs. 218,145.5 million in 9M 2026 as compared to Rs. 176,891.2 million 9M 2025 \u2022 EBITDA increased by 19.9% to Rs. 52,745.8 million in 9M 2026 from Rs. 44,008.0 million in 9M 2025 \u2022 PAT higher by 15.5% to Rs. 32,023.0 million in 9M 2026 from Rs. 27,721.2 million in 9M 2025 *Note 1: VBL follows a calendar year of reporting (Jan to Dec); Note 2: Given the seasonality in the business, it is best to monitor the business on an annual basis as a significant portion of the revenues and profits are realized in the Apr -June quarter; Note 3: During the quarter ended 30 September 2026, the subsidiary company, namely, VBL Industries (Kenya) Limited acquired business from Devyani Food Industries (Kenya) Limited for a purchase consideration of USD 32 million ( Rs. 3,050 Million; 1 USD = Rs. 95.30) with effect from 01 August 2026. The acquisition qualifies as a business combination of entities under common control, as these entities were utimately controlled by the same company both before and after the business combination, and such control was not transitory. Accordingly, business combination has been accounted for in accordance with Appendix C of Ind AS 103, Business Combinations, using the pooling of interests method and acquired assets and liabilities of the combining entities have been recognised at their r espective carrying amounts. The financial results\/statement for the previous reporting period(s) has been restated as if the business combination had occurred from the beginning of the earliest reporting period(s) presented. The comparative financial results\/statement has been restated to give effect to the aforesaid business combination. The restatement has been made for comparative presentation purposes and does not represent a revision of the financial results\/statement pre viously approved and published by the Company, except to the extent of the adjustments arising from the aforesaid business combination. Commenting on the performance for Q3 CY2026, Mr. Varun Jaipuria, Executive Vice Chairman, Varun Beverages Limited, said, \u201cWe are pleased to report a strong performance in the third quarter of CY2026. Consolidated sales volumes grew by 28.7%, with volume growth of 22.5% in India and 39.9% in international territories. Revenue from operations increased by 33.2% YoY to Rs. 66,07 5.6 million, while EBITDA grew by 25.1% to Rs. 14,267.1 million. Higher packaging costs weighed on margins during the quarter, although improved realizations and operating leverage from strong volume growth helped partially offset these pressures. In India, we continued to witness healthy volume growth during the quarter, extending the positive trend seen since May. This performance was supported by our extensive distribution network, expanded manufacturing capacities, and ongoing investments in chilling infrastructure. We also saw improved realizations, supported by growth in higher-value categories such as dairy beverages and the introduction of premium offerings, including \u2018Ad Rush\u2019 and the \u2018Evervess\u2019 mixers range. Our international business continued to make strong progress during the quarter, with Africa remaining a key continent for expansion. With effect from 01 August 2026, the merger of Twizza with BevCo has been completed, and we expect to unlock significant operational synergies in the coming quarters. During the quarter, we have also started beverage operations in Kenya and introduced two new beverage brands \u2018BOLT UP\u2019 and \u2018XTREME FIZZ\u2019, marking another step towards strengthening our footprint in the fast -growing Africa region. We also entered into an exclusive distribution agreement with Mondelez in Zimbabwe, further broadening our product offerings in the market. We are also taking measured steps towards diversifying our business into adjacent categories. The incorporation of KIVA Spirits and Company Limited marks an important step in exploring opportunities in ready- to-drink beverages, alcoholic beverages, and all ied products. Our approach will remain focused on pursuing opportunities that leverage our execution capabilities and offer attractive long -term growth potential. In line with our dividend policy, the Board of Directors has approved an interim dividend of 25% of the face value, i.e., Rs. 0.50 per share, resulting in a total cash outflow of ~Rs. 1,691 million. Looking ahead, our focus will remain on driving growth across our existing markets, supported by the investments we have made over recent years. Alongside this, we will selectively pursue opportunities to broaden our business, while maintaining a clear emphasis on profitability and long-term value creation.\u201d Key Developments Incorporation of a wholly-owned subsidiary company in India - KIVA Spirits and Company Limited: \u2022 On 29 August 2026, we have incorporated a wholly-owned subsidiary company in India, to carry on the business of Ready to Drink (RTD), Alcoholic Beverages and allied products. Entered into an Exclusive Distribution Agreement with Mondelez in the territory of the Republic of Zimbabwe: \u2022 On 24 September 2026, Varun Beverages (Zimbabwe) (Private) Limited (a subsidiary of our Company) has entered into an Exclusive Distribution Agreement with Mondelez South Africa Proprietary Limited (\u201cMondelez\u201d) for the exclusive distribution of chocolate, biscuit, candy and gum products of Mondelez in the territory of the Republic of Zimbabwe, with effect from 1 October 2026. Completion of Merger of Twizza into Bevco, South Africa: \u2022 On 02 July 2026, the Board of Directors of Bevco and Twizza approved to merge Twizza with its holding company i.e. Bevco, subject to applicable laws in South Africa. \u2022 The above-mentioned merger has been completed w.e.f. 01 August 2026, and we expect to unlock significant operational synergies in the coming quarters. Dividend: \u2022 In line with the guidelines of Company\u2019s dividend policy, the Board of Directors have approved an interim dividend @ 25% of face value i.e. Rs. 0.50 per share. Total cash outflow would be ~Rs. 1,691 million \u2013 ENDS \u2013 About Varun Beverages Limited: Varun Beverages Limited (\u201cVBL\u201d or the \u201cCompany\u201d) is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA). The Company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non -carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. PepsiCo CSD brands produced and sold by VBL include Pepsi, Pepsi Zero, Mountain Dew, Sting, Adrenaline Rush, Seven -Up, Mirinda, Nimbooz Jeera Soda and Evervess. PepsiCo NCB brands produced and sold by the Company include Slice, Tropicana Juices (100% and Delight), Seven -Up Nimbooz, Gatorade as well as packaged drinking water under the brand Aquafina. VBL has been associated with PepsiCo since the 1990s and have over three decades consolidated its business association with PepsiCo, increasing the number of licensed territories and sub -territories covered by the Company, producing and distributing a wide r range of PepsiCo beverages, introducing various SKUs in the portfolio, and expanding the distribution network. As on date, VBL has been granted franchises for various PepsiCo products across 26 States and 6 Union Territories in India. India is the larges t market and contributed ~67% of revenues from operations (net) in Fiscal 2025. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia, Zimbabwe, South Africa, Lesotho, Eswatini & DRC and distribution rights for Namibia, Botswana, Mozambique and Madagascar. For further information, please contact: Safe Harbor This communication contains certain forward -looking statements relating to the business, financial performance, strategy and results of Varun Beverages Limited (VBL) and\/ or the industry in which it operates. Such forward -looking statements involve a numbe r of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, busines s or other market conditions. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiar y undertakings or any such person\u2019s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward -looking statements contained in this presentation or the actual occurrence of the forecasted developments. The Company assumes no resp onsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. Given these uncertainties and other factors, viewers of this communication are cautioned not to place undue reliance on these forward-looking statements. Anoop Poojari \/ Mitesh Jain CDR India Tel: +91 9833090434 \/ 9619444691 Email: anoop@cdr-india.com \/ mitesh@cdr-india.com Raj Gandhi \/ Deepak Dabas \/ Manjit Singh Chadha Varun Beverages Ltd Tel: +91 124 4643100 \/+91 9871100000 \/ +91 9810779979 Email: raj.gandhi@rjcorp.in \/ deepak.dabas@rjcorp.in \/ manjit.chadha@rjcorp.in\"},{\"title\":\"Investor Presentation\",\"summary\":\"Investor Presentation\",\"source\":\"NSE\",\"published\":\"30-Oct-2026 11:59:52\",\"source_type\":\"official filing\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026115937_Presentation.pdf\",\"disclosure_text\":\"October 30, 2026 To, National Stock Exchange of India Ltd. Exchange Plaza, Block G, C\/1, Bandra Kurla Complex, Bandra (E), Mumbai \u2013 400 051 Email: cmlist@nse.co.in Symbol: VBL BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai \u2013 400 001 Email: corp.relations@bseindia.com Security Code: 540180 Sub: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Presentation on Unaudited Financial Results of the Company for the Quarter and Nine Months ended September 30, 2026 Dear Sir\/Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith a copy of the Presentation on Unaudited Financial Results of the Company for the Quarter and Nine Months ended September 30, 2026. The same is also being uploaded on website of the Company at www.varunbeverages.com. You are requested to take the above on record. Yours faithfully, For Varun Beverages Limited Ravi Batra Chief Risk Officer & Group Company Secretary Encl.: As above Varun Beverages Limited October 30, 2026 Q3 & 9M CY2026 Results Presentation Disclaimer This communication contains certain forward-looking statements relating to the business, financial performance, strategy and results of Varun Beverages Limited (\u201cVBL\u201d or the \u201cCompany\u201d) and\/ or the industry in which it operates. Such forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person\u2019s officers or employees guarantees that the assumptions underlying such forward- looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. Given these uncertainties and other factors, viewers of this communication are cautioned not to place undue reliance on these forward-looking statements. 2 3 Company Overview Vice-Chairman\u2019s Message Sustainability Initiatives Q3 & 9M CY2026 Results Overview Performance Highlights Table of Contents 337 454 653 737 821 839 82588 115 149 176 303 381 364 425 569 802 913 1,124 1,220 1,189 2020 2021 2022 2023 2024 2025 9M CY2026 India International 4 Total Sales Volumes (mn Cases*) 2020-2025: Sales Volume CAGR: ~23.5% Note: *A unit case is equal to 5.678 liters of beverage divided in 24 bottles of ~ 237 ml each Key player in the global beverage industry with presence across 15 countries and the second largest franchisee of PepsiCo in the world (outside US). Note: Map not to scale 4 Company Snapshot Note: Previous period numbers are restated wherever applicable, please refer foot note on Slide 11 5 # Manufacturing & Distribution of PepsiCo\u2019s snack foods in Morocco and Zimbabwe and distribution in Zambia; Co-manufacturing of Kurkure Puffcorn in India. ^ Manufacturing & Distribution of own brands is restricted in select territories. * \u201cCreamBell\u201d trademark has been licensed to be used by VBL for ambient temperature value added dairy based beverages. Carbonated Soft Drinks Brands licensed by PepsiCo: Own Brands^: Fruit Pulp \/ Juice Based Drinks Sports Drink Snacks# Club Soda Energy Drink Packaged WaterIce TeaCarbonated Juice Based Drinks Carbonated Soft Drinks Energy Drink Packaged Water Complete Brand Portfolio Mixers Dairy Based Beverages* 6 \u2022 Production Facilities \u2022 Sales & Distribution \u2013 GTM & Logistics \u2022 In-outlet Management \u2013 Visi-Coolers \u2022 Consumer Push Management (BTL) - Market Share Gains 34+ Years of Association (agreement in India valid till April, 2049) 90%+ of PepsiCo India Sales Volume Demand Delivery Demand Creation \u2022 Trademarks \u2022 Formulation through Concentrate \u2022 Product & Packaging innovation through investment in R&D \u2022 Consumer Pull Management (ATL) - Brand Development Symbiotic Relationship with PepsiCo 7 VBL- END-TO-END EXECUTION ACROSS VALUE CHAIN \u25aa Robust distribution network with strong distribution infra of vehicles, including EVs \u25aa Wide network of owned vehicles \u25aa Wide presence in retail outlets through visi-coolers \u25aa VBL - local level promotion and in-store activation \u25aa PepsiCo - brand development & consumer marketing \u25aa Experienced sales team \u25aa Responsible for category value\/volume growth \u25aa Path created for reaching out to every 5 th person in the world \u25aa Production optimization \u25aa Backward integration (3 exclusive + 19 integrated plants) \u25aa Innovation (packaging etc.) \u25aa Working capital efficiencies \u25aa Disciplined capex investment \u25aa Territory acquisition \u25aa 54 state-of-the-art production facilities \u25aa 38 in India & 16 in International territories DISTRIBUTION & WAREHOUSING CUSTOMER MANAGEMENT IN-MARKET EXECUTION COST EFFICIENCIES CASH MANAGEMENT MANUFACTURING Other Raw Materials Bottling Concentrate (PepsiCo) SOLID INRASTRUCTURE ROBUST SUPPLY CHAIN DEMAND DELIVERY MARKET SHARE GAINS MARGIN EXPANSION ROE EXPANSION \/ FUTURE GROWTH Key Player in the Beverage Industry \u2013 Business Model 7 Executive Vice Chairman\u2019s Message Commenting on the performance, Mr. Varun Jaipuria, Executive Vice Chairman \u2013 Varun Beverages Limited said: 8 \u201cWe are pleased to report a strong performance in the third quarter of CY2026. Consolidated sales volumes grew by 28.7%, with volume growth of 22.5% in India and 39.9% in international territories. Revenue from operations increased by 33.2% YoY to Rs. 66,075.6 million, while EBITDA grew by 25.1% to Rs. 14,267.1 million. Higher packaging costs weighed on margins during the quarter, although improved realizations and operating leverage from strong volume growth helped partially offset these pressures. In India, we continued to witness healthy volume growth during the quarter, extending the positive trend seen since May. This performance was supported by our extensive distribution network, expanded manufacturing capacities, and ongoing investments in chilling infrastructure. We also saw improved realizations, supported by growth in higher-value categories such as dairy beverages and the introduction of premium offerings, including \u2018Ad Rush\u2019 and the \u2018Evervess\u2019 mixers range. Our international business continued to make strong progress during the quarter, with Africa remaining a key continent for expansion. With effect from 01 August 2026, the merger of Twizza with BevCo has been completed, and we expect to unlock significant operational synergies in the coming quarters. During the quarter, we have also started beverage operations in Kenya and introduced two new beverage brands \u2018BOLT UP\u2019 and \u2018XTREME FIZZ\u2019, marking another step towards strengthening our footprint in the fast-growing Africa region. We also entered into an exclusive distribution agreement with Mondelez in Zimbabwe, further broadening our product offerings in the market. We are also taking measured steps towards diversifying our business into adjacent categories. The incorporation of KIVA Spirits and Company Limited marks an important step in exploring opportunities in ready-to-drink beverages, alcoholic beverages, and allied products. Our approach will remain focused on pursuing opportunities that leverage our execution capabilities and offer attractive long-term growth potential. In line with our dividend policy, the Board of Directors has approved an interim dividend of 25% of the face value, i.e., Rs. 0.50 per share, resulting in a total cash outflow of ~Rs. 1,691 million. Looking ahead, our focus will remain on driving growth across our existing markets, supported by the investments we have made over recent years. Alongside this, we will selectively pursue opportunities to broaden our business, while maintaining a clear emphasis on profitability and long-term value creation.\u201d Key Developments 9 1. Incorporation of a wholly-owned subsidiary company in India - KIVA Spirits and Company Limited: \u25aa On 29 August 2026, we have incorporated a wholly-owned subsidiary company in India, to carry on the business of Ready to Drink (RTD), Alcoholic Beverages and allied products. 2. Entered into an Exclusive Distribution Agreement with Mondelez in the territory of the Republic of Zimbabwe: \u25aa On 24 September 2026, Varun Beverages (Zimbabwe) (Private) Limited (a subsidiary of our Company) has entered into an Exclusive Distribution Agreement with Mondelez South Africa Proprietary Limited (\u201cMondelez\u201d) for the exclusive distribution of chocolate, biscuit, candy and gum products of Mondelez in the territory of the Republic of Zimbabwe, with effect from 1 October 2026. 4. Dividend: \u25aa In line with the guidelines of Company\u2019s dividend policy, the Board of Director\u2019s have approved an interim dividend @ 25% of face value i.e. Rs. 0.50 per share. Total cash outflow would be ~Rs. 1,691 million. 3. Completion of Merger of Twizza into Bevco, South Africa: \u25aa On 02 July 2026, the Board of Directors of Bevco and Twizza approved to merge Twizza with its holding company i.e. Bevco, subject to applicable laws in South Africa. \u25aa The above-mentioned merger has been completed w.e.f. 01 August 2026, and we expect to unlock significant operational synergies in the coming quarters.\"},{\"title\":\"Outcome of Board Meeting\",\"summary\":\"Unaudited Financial Results of the Company (Standalone and Consolidated) for the Quarter and Nine Months ended September 30, 2026\",\"source\":\"NSE\",\"published\":\"30-Oct-2026 11:50:01\",\"source_type\":\"official filing\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026114937_Outcome.pdf\",\"disclosure_text\":\"\u00a3VARUn BEVERAGES October 30, 2026 To, National Stock Exchange of India Ltd. Exchange Plaza, Block G, C\/l, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Email: cmlist@nse.co.in Symbol: VBL BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 Email: corp.relations@bseindia.com Security Code: 540180 Subject: Outcome of the Board Meeting & Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir\/Madam, The Board of Directors at their meeting held today (started at 11:00 A.M. and concluded at 11:40 A.M.) inter-alia considered and approved the following: (i) The Unaudited Financial Results of the Company (Standalone and Consolidated) for the Quarter and Nine Months ended September 30, 2026 (Copy of the same along-with Limited Review Report issued by M\/s. O P Bagla & Co. LLP and M\/s. J C Bhalla & Co., Chartered Accountants, Joint Statutory Auditors of the Company, with unmodified opinion are attached and the same are being uploaded on website of the Company). (ii) The payment of 3rd interim dividend of ?0.50 (Fifty Paisa only) per Equity Share for the Financial Year 2026 on the total issued, subscribed and paid-up 338,24,94,644 Equity Shares of the nominal value of ^2\/- (Rupees Two only) each. (iii) Pursuant to the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, fixed Thursday, November 5, 2026 as the \\\"Record Date\\\" for the purpose of determining entitlement of Equity Shareholders for receipt of 3rd interim dividend. The 3rd interim dividend will be paid on and from November 7, 2026 to those shareholders whose name appears in the Register of Members of the Company or in the list of beneficial owners maintained by the Depositories as on November 5, 2026. Further, please note that our Company is following 1st January to 31st December as its financial year in terms of Section 2(41) of the Companies Act, 2013 as approved by Company Law Board. You are requested to take the above on record. Yours faithfully, Ravi Batra 12 l New Delhi I A i \u00ae l . Chief Risk Officer & Group Company Secretary Encl.: As above VARUN BEVERAGES LIMITED Corporate Office: vot No. snstitutiona; Area. ^ec.-A4_, NurugraiTh HarysnaA22UO2 Hneha} i Ph: eQI 124 4643100-500 i W: www.varunbev@rages.corn CIN: L74899DL1995PLC069839 [ Registered Office: F-2\/Z Okhta industrial Area, Phased New Delhi - IIO 0.20 | E: Nfo@ncorpJn j Ph: 011 41706720-25 r v\/v un J? BEVERAGES VARUN BEVERAGES LIMITED Corporate identification number: L74899DL1995PLC069839 Registered office: F-2\/7, Okhia Industrial Area, Phase-I, New Delhi-110020 Corporate office: RJ Corp House, Plot No-31, Institutional Area, Sector-44, Gurugram-122002 (Haryana) Tel: +91-124-4643100, E-mail: complianceofficer@rjcorp.in, Website: www.varunbeverages.com Statement of consolidated financial results for the quarter and nine months ended on 30 September 2026 (? in million, except per share data) Particulars Three months ended on Three months ended on Three months ended on Nine months ended on Nine months ended on Year ended on 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 December 2025 (Unaudited) (Unaudited) (Restated) (Refer note 10) (Unaudited) (Restated) (Refer note 10) (Unaudited) (Unaudited) (Restated) (Refer note 10) (Audited) (Restated) (Refer note 10) 1. Income (a) Revenue from operations 68,155.86 87,447.38 51,124.38 223,712.41 181,011.15 225,107.99 (b) Other income 1,198.62 1,048.53 1,475.63 2,690.71 2,530.33 3,520.80 Total income 69,354.48 88,495.91 52,600.01 226,403.12 183,541.48 228,628.79 2. Expenses (a) Cost of materials consumed 29,096.15 37,184.51 19,374.15 98,401.82 75,473.37 95,159.34 (b) Excise duty 2,080.28 2,002.22 1,517.44 5,566.89 4,119.99 5,432.39 (c) Purchases of stock-in-trade 1,006.44 1,826.30 889.08 3,484.85 2,592.15 3,694.53 (d) Changes in inventories of finished goods, intermediate goods, stock-in-trade and work\u00ad in-progress 891.14 (294.56) 1,349.52 (2,084.10) 1,591.90 44.42 (e) Employee benefits expense 6,025.57 6,954.62 5,642.14 19,294.11 16,475.59 22,452.02 (f) Finance costs 716.91 586.53 467.09 1,797.92 1,272.38 1,756.82 (g) Depreciation and amortisation expense 4,199.82 4,127.11 3,123.57 11,927.31 9,023.04 12,372.83 (h) Other expenses 14,789.19 16,451.45 10,947.97 46,303.00 36,750.19 47,995.59 Total expenses 58,805.50 68,838.18 43,310.96 184,691.80 147,298.61 188,907.94 3. Profit before share of loss of associates and joint ventures (1-2) 10,548.98 19,657.73 9,289.05 41,711.32 36,242.87 39,720.85 4. Share of loss of associates and joint ventures (22.82) (42.83) (16.76) (105.12) (34.42) (60.27) 5. Profit before tex (3+4) 10,526.16 19,614.90 9,272.29 41,606.20 36,208.45 39,660.58 6. Tax expense: (a) Current tax 2,532.07 4,420.29 1,768.12 9,654.83 7,724.49 8,389.07 (b) Adjustment of tax relating to earlier periods\/year (143.87) (0.01) 26.70 (143.88) 24.84 16.90 (c) Deferred tax (credit)\/charge (167.96) 97.94 162.37 72.27 737.92 1,070.09 Total tax expense 2,220.24 4,518.22 1,957.19 9,583.22 8\/487.25 9,476.06 7. Net profit after tax (5-6) 8,305.92 15,096.68 7,315.10 32,022.98 27,721.20 30,184.52 8. Other comprehensive income A. Items that will not be reclassified to profit or toss 59.31 20.32 19.06 104.23 (10.48) 265.91 B. Income tax relating to items that will not be reclassified to profit or loss (15.00) (4.86) (4.84) (26.30) 2.10 (67.34) C. Items that will be reclassified to profit or toss 55.63 400.07 1,317.32 1,330.78 1,778.37 4,174.49 D. Income tax relating to items that will be reclassified to profit or loss - - - - Total other comprehensive income 99.94 415.53 1,331.54 1,408.71 1,769.99 4,373.06 9. Total comprehensive income for the periods\/year (7+8) 8,405.86 15,512.21 8,646.64 33,431.69 29,491.19 34,557.58 10. Net profit attributable to: A Owners of the Company 8,280.01 15,051.10 7,275.08 31,887.91 27,547.84 29,928.99 B Non-controlling interest 25.91 45.58 40.02 135.07 173.36 255.53 11. Other comprehensive income attributable to: A Owners of the Company 91.05 397.65 1,289.86 1,314.91 1,736.17 4,309.14 B Non-controlling interest 8.89 17.88 41.68 93.80 33.82 63.92 12. Total comprehensive income attributable to: A Owners of the Company 8,371.06 15,448.75 8,564.94 33,202.82 29,284.01 34,238.13 B Non-controlling interest 34.80 63.46 81.70 228.87 207.18 319.45 13. Paid-up equity share capital (face value of ? 2 each) 6,764.99 6,764.59 6,763.92 6,764.99 6,763.92 6,763.98 14. Other equity 188,112.77 15. Earnings per share (of T 2\/- each) (not annualised for quarters and nine months) (a) Basic 2.45 4.45 2.15 9.43 8.15 8.85 (b) Diluted 2.45 4.45 2.15 9.43 8.14 8.85 See accompanying notes & zt N SIGNED FOR pyppnoT n?u? \u25a0;. \\\" * LRUO BEVERAGES VARUN BEVERAGES LIMITED Corporate identification number L74899DL1995PLC069839 Registered office: F-2\/7, Okhla Industrial Area, Phase-1, New Delhi-110020 Corporate office: RJ Corp House, Plot No-31, Institutional Area, Sector-44, Gurugram-122002 (Haryana) Tel: +91-124-4643100, E-mail: complianceofficer@qcorp.in, Website: www.varunbeverages.com Statement of standalone financial results for the quarter and nine months ended on 30 September 2026 (? in million, except per share data) Particulars Three months ended on Three months ended on Three months ended on Nine months ended on Nine months ended on Year ended on 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 December 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Income (a) Revenue from operations 38,224.47 59,962.08 30,639.83 143,192.09 124,215.32 145,568.22 (b) Other income 1,434.95 1,043.92 1,496.93 3,222.09 2,995.06 5,139.34 Total income 39,659.42 61,006.00 32,136.76 146,414.18 127,210.38 150,707.56 2. Expenses (a) Cost of materials consumed 18,105.34 26,612.87 12,622.02 67,805.85 55,011.16 66,018.96 (b) Purchase of stock-in-trade 163.23 385.68 61.35 765.85 1,192.39 1,404.54 (c) Changes in inventories of finished goods, intermediate goods, stock-in-trade and work-in-progress 731.72 1,169.34 1,278.12 (494.97) 1,804.22 129.66 (d) Employee benefits expense 3,391.39 3,401.25 3,029.67 10,090.90 9,408.29 12,602.18 (e) Finance costs 79.29 39.42 79.36 161.29 194.17 322.38 (f) Depreciation and amortisation expense 2,019.07 2,234.97 1,720.28 6,243.85 5,171.43 7,024.20 (g) Other expenses 6,651.49 9,611.26 5,780.71 25,337.94 22,413.34 27,773.18 Total expenses 31,141.53 43,454.79 24,571.51 109,910.71 95,195.00 115,275.10 3. Profit before tax (1-2) 8,517.89 17,551.21 7,565.25 36,503.47 32,015.38 35,432.46 4. Tax expense (a) Current tax 1,937.44 4,164.61 1,562.68 8,583.75 7,072.98 7,644.46 (b) Adjustment of tax relating to earlier periods\/year (144.02) - - (144.02) - (9.06) (c) Deferred tax charge 139.15 143.28 228.54 356.03 786.16 1,030.64 Total tax expense 1,932.57 4,307.89 1,791.22 8,795.76 7,859.14 8,666.04 5. Net profit after tax (3 - 4) 6,585.32 13,243.32 5,774.03 27,707.71 24,156.24 26,766.42 6. Other comprehensive Income A. Items that will not be reclassified to profit or loss 59.70 17.71 19.25 105.53 (4.38) 270.35 B. Income tax relating to items that will not be reclassified to profit or loss (15.03) (4.45) (4.85) (26.56) 1.10 (68.04) Total other comprehensive income\/floss) 44.67 13.26 14.40 78.97 (3.28) 202.31 7. Total comprehensive income for the periods\/year (5+6) 6,629.99 13,256.58 5,788.43 27,786.68 24,152.96 26,968.73 8. Paid-up equity share capital (face value of ? 2\/- each) 6,764.99 6,764.59 6,763.92 6,764.99 6,763.92 6,763.98 9. Other equity 180,884.00 10. Earnings per share(of ? 2Z- each) (not annualised for quarters and nine months) (a) Basic 1.95 3.92 1.71 8.19 7.14 7.91 (b) Diluted 1.95 3.91 1.71 8.19 7.14 7.91 See accompanying notes SIGNED FOR I GENII FiCATION PURPOSE ONLY BEVERAGES VARUN BEVERAGES LIMITED Corporate identification number: L74899DL1995PLC069839 Registered office: F-2\/7, Okhla Industrial Area, Phase-I, New Delhi-110020 Corporate office: RJ Corp House, Plot No-31, Institutional Area, Sector-44, Gurugram-122002 (Haryana) Tel: +91-124-4643100, E-mail: complianceofficer@ricorp.in, Website: www.varunbeverages.com (? in million, except per share data) Notes: 1. These standalone and consolidated financial results for the quarter and nine months ended on 30 September 2026 have been reviewed and recommended for approval by the Audit, Risk Management and Ethics Committee and accordingly approved by the Board of Directors of Varun Beverages Limited (\u201cVBL\u201d or \u201cthe Company\u201d) at their respective meetings held on 30 October 2026. The Statutory Auditors have conducted a limited review of these financial results. 2. These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS\u2019) notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013 (read with SEBI Circular CIR\/CFD\/FAC\/62\/2016 dated 05 July 2016 and other recognised accounting practices and policies). 3. VBL follows calendar year as its financial year as approved by the Company Law Board, New Delhi. 4. The business activities of the Company and its subsidiaries (together referred to as the \\\"Group\\\") predominantly fall within a single primary business segment viz. manufacturing and sale of beverages. There is no separate reportable business segment. The Group operates in two principal geographical areas, i.e., in India, its home country, and in other countries. The aforesaid is in line with review of operating results by the chief operating decision maker. The sate of products of the Group is seasonal. 5. During the quarter ended 30 September 2026, Varun Beverages (Zimbabwe) (Private) Limited, subsidiary of our Company has incorporated a subsidiary company in Zimbabwe namely \u201cVarun Beverages Holding (Zimbabwe) (Private) Limited\u201d as a vehicle to hold investments. 6. During the quarter ended 30 September 2026, the Company incorporated a wholly owned subsidiary in India, KIVA Spirits and Company Limited, to carry on the business of Ready-to-Drink (RTD), alcoholic beverages and allied products. 7. During the quarter ended 30 September 2026, Varun Beverages (Zimbabwe) (Private) Limited (a subsidiary of our Company) on 24 September 2026 has entered into an Exclusive Distribution Agreement with Mondelez South Africa Proprietary Limited (\u201cMondelez\u201d) effective from 01 October 2026 for the exclusive distribution of chocolate, biscuit, candy and gum products of Mondelez in the territory of the Republic of Zimbabwe. 8. During the nine months period ended 30 September 2026, The Beverage Company Proprietary Limited (\u201cBevco\u201d), a subsidiary of the Company, entered into an agreement dated 17 March 2026 to acquire a 100% equity stake in Crickley Dairy Proprietary Limited (\u201cCrickley\u201d) at an enterprise value of ZAR 238 million (equivalent to T 1,314.68 million, at an exchange rate of ZAR 1 = 5.52), a company incorporated in South Africa, from Clark Holdings Proprietary Limited (\u201cSeller\u201d), with the objective of diversifying its product portfolio into new categories, including value added dairy-based beverages. However, due to non-fulfillment of certain condition precedent the transaction is not consumated and during the quarter ended 30 September 2026, the above-mentioned transaction has been referred by sellers to The Arbitration Foundation of Southern Africa (\u201cAFSA\u201d). 9. During the nine months period ended 30 September 2026, The Beverage Company Proprietary Limited (\u201cBevco\u201d), subsidiary of our Company in South Africa, has acquired 100% Share Capital of Twizza Proprietary Limited (\\\"Twizza\\\"), a company incorporated under the laws of South Africa, at an enterprise value of ZAR 2,053 Million (T 11,398 Million; 1 ZAR = 5.55), accordingly it has become step down subsidiary of our Company w.e.f. 18 March 2026. The Company is in the process of determining the fair values of acquired assets and liabilities including goodwill as per the requirement of Ind AS 103 \\\"Business Combinations\\\". Accordingly, the consolidation of Twizza has been done on provisional basis from the date of acquisition. Twizza is inter-alia engaged in the business of manufacturing and distribution of own branded non-alcoholic Beverages. During the quarter ended 30 September 2026, on 02 July 2026, the Board of Directors of Bevco and Twizza have approved the merger of Twizza with its holding company i.e. Bevco, w.e.f. 01 August 2026. Post merger, the shareholding remained unchanged since merger is between a subsidiary and its step-down subsidiary of the Company and consequently, Twizza has ceased to be a step-down subsidiary of the Company. VARUn BEVERAGES VARUN BEVERAGES LIMITED Corporate identification number: L74899DL1995PLC069839 Registered office: F-2\/7, Okhla Industrial Area, Phase-I, New Delhi-110020 Corporate office: RJ Corp House, Plot No-31, Institutional Area, Sector-44, Gurugram-122002 (Haryana) Tel: +91-124-4643100, E-mail: complianceofficer@rjcorp.in, Website: www.varunbeverages.com in million, except per share data) 10. During the quarter ended 30 September 2026, the subsidiary company, namely, VBL Industries (Kenya) Limited acquired business from Devyani Food Industries (Kenya) Limited for a purchase consideration of USD 32 million (T 3,050 Million; 1 USD = T 95.30) with effect from 01 August 2026. The acquisition qualifies as a business combination of entities under common control, as these entities were utimately controlled by the same company both before and after the business combination, and such control was not transitory. Accordingly, business combination has been accounted for in accordance with Appendix C of Ind AS 103, Business Combinations, using the pooling of interests method and acquired assets and liabilities of the combining entities have been recognised at their respective carrying amounts. The financial results\/statement for the previous reporting period(s) has been restated as if the business combination had occurred from the beginning of the earliest reporting period(s) presented. The comparative financial results\/statement has been restated to give effect to the aforesaid business combination. The restatement has been made for comparative presentation purposes and does not represent a revision of the financial results\/statement previously approved and published by the Company, except to the extent of the adjustments arising from the aforesaid business combination. 11. The Board of Directors have approved an interim dividend of T 0.50 (Rupee fifty paisa only) per equity share of the face value of t2\/- each. Place : Gurugram Dated : 30 October 2026 Raj Gandhi -or and on behalf of Board of Directors oi K Varun Beverages Limited ?! New Delhi 2 SVViEZ FOR HJRRCSE ONOR Independent Auditor\u2019s Review Report on Consolidated Unaudited Quarterly and Year to Date Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Varun Beverages Limited 1. We have reviewed the accompanying statement of consolidated unaudited financial results (\u2018the Statement') of Varun Beverages Limited (\u2018the Holding Company\u2019) and its subsidiaries (the Holding Company and its subsidiaries together referred to as \u2018the Group\u2019) and its associates and joint ventures (refer Annexure 1 for the list of subsidiaries, associates and joint ventures included in the Statement) for the quarter ended 30 September 2026 and the consolidated year to date results for the period from 01 January 2026 to 30 September 2026 being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (\u2018Listing Regulations\u2019). 2. This Statement, which is the responsibility of the Holding Company\u2019s management and approved by the Ho\"}],\"recent_news\":[{\"summary\":\"Unaudited Financial Results of the Company (Standalone and Consolidated) for the Quarter and Nine Months ended September 30, 2026.\",\"category\":\"Outcome of Board Meeting\",\"date\":\"30-Oct-2026 11:50:01\",\"source\":\"NSE filing\",\"industry\":null,\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026114937_Outcome.pdf\",\"headline\":\"Earnings \/ operating update\",\"impact\":\"Earnings updates are directly relevant to valuation. Revenue growth, margins, profit growth and management guidance are the key items to compare with expectations.\",\"importance_score\":5,\"completeness_score\":3},{\"summary\":\"Varun Beverages Limited has informed the Exchange that Board of Directors at its meeting held on October 30, 2026, declared 3rd Interim Dividend of Rs. 0.50 per equity share.\",\"category\":\"Dividend\",\"date\":\"30-Oct-2026 12:10:32\",\"source\":\"NSE filing\",\"industry\":null,\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026120957_Outcome30102026.pdf\",\"headline\":\"Management \/ board update\",\"impact\":\"Management and board changes can matter for execution, governance and continuity, although they do not automatically explain the day's share-price move.\",\"importance_score\":3,\"completeness_score\":5},{\"summary\":\"Varun Beverages Limited has informed the Exchange that Record date for the purpose of 3rd Interim Dividend is 05-Nov-2026.\",\"category\":\"Record Date\",\"date\":\"30-Oct-2026 12:07:36\",\"source\":\"NSE filing\",\"industry\":null,\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_30102026120712_Outcome30102026.pdf\",\"headline\":\"Shareholder-return \/ corporate action\",\"impact\":\"This affects shareholder returns or the share structure and can influence near-term investor interest.\",\"importance_score\":3,\"completeness_score\":4},{\"summary\":\"Investment and Borrowing Committee of the Board of Directors at its meeting held today approved to invest upto 26% of Equity Share Capital of Jager Renewables Private Limited (a special purpose vehicle inter-alia engaged to generate & supply solar power to consumers in the state of Uttar Pradesh) for a consideration of upto Rs. 4.10 Crore to obtain solar power for captive consumption as per details in enclosed intimation.\",\"category\":\"General Updates\",\"date\":\"07-Oct-2026 15:50:19\",\"source\":\"NSE filing\",\"industry\":null,\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/VBL_07102026154901_OutcomeIBC.pdf\",\"headline\":\"Management \/ board update\",\"impact\":\"Management and board changes can matter for execution, governance and continuity, although they do not automatically explain the day's share-price move.\",\"importance_score\":3,\"completeness_score\":5}],\"shareholding_snapshot\":{\"promoter_pct\":59.43,\"public_pct\":40.57,\"fii_pct\":17.53,\"dii_pct\":16.34,\"mf_pct\":9.79,\"institutional_pct\":33.87,\"noninst_pct\":6.7,\"mf_scheme_count\":46,\"pledged_shares\":null,\"pledged_pct_of_promoter\":null,\"mf_holders\":[{\"name\":\"NIPPON LIFE INDIA TRUSTEE LTD.-A\/C NIPPON INDIA BS\",\"shares\":66155761,\"pct\":1.96},{\"name\":\"SBI AGGRESSIVE HYBRID FUND\",\"shares\":61466075,\"pct\":1.82}],\"period\":\"30-SEP-2026\",\"submission_date\":\"09-OCT-2026\",\"source\":\"NSE shareholding pattern XBRL\",\"source_url\":\"https:\/\/nsearchives.nseindia.com\/corporate\/xbrl\/SHP_1734926_09102026041454_WEB.xml\",\"previous_period\":\"30-JUN-2026\",\"previous_promoter_pct\":59.43,\"previous_fii_pct\":19.03,\"previous_dii_pct\":15.21,\"previous_mf_pct\":9.06,\"previous_institutional_pct\":34.24,\"previous_mf_scheme_count\":45,\"previous_pledged_pct_of_promoter\":null,\"previous_pledged_shares\":null},\"brokerage_views\":[{\"brokerage\":\"Motilal Oswal\",\"rating\":\"Buy\",\"target\":\"550\",\"view_summary\":\"Buy Varun Beverages; target of Rs 550: Motilal Oswal Moneycontrol.com\",\"headline\":\"Buy Varun Beverages; target of Rs 550: Motilal Oswal\",\"published\":\"2026-03-18T07:00:00+00:00\",\"source\":\"Moneycontrol.com\"}]} --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Varun Beverages share price fell 5.50% to \u20b9392.00 today. See why VBL is falling, volume context, company developments and what to watch next.<\/p>\n","protected":false},"author":1,"featured_media":9891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_witty_seo_title":"Varun Beverages Share Price Today: Why VBL Is Falling 5.50% | 30 October 2026","_witty_meta_description":"Varun Beverages share price fell 5.50% to \u20b9392.00 today. 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