ICICI Direct's research report on Varun Beverages
Varun Beverages is one of the largest franchisees of PepsiCo in the world. The company produces & distributes carbonated drinks, juices & packaged drinking water in six countries including India. Some of the PepsiCo brands produced by VBL includes Pepsi, Diet Pepsi, Seven-Up, Mirinda, Mountain Dew, Nimbooz, String, Slice, Tropicana, Aquafina among others. The company has operations in India (except Andhra Pradesh, J&K and Ladakh), Sri-Lanka, Nepal, Morocco, Zambia & Zimbabwe.
Outlook
Consequently, Varun Beverages’ share price has been adjusted to Rs 733 /share. Accordingly, our target price stands revised to Rs 867/share. We maintain our BUY rating on the stock.
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