ICICI Direct's research report on Varun Beverages
Varun Beverage (VBL) 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 include Pepsi, Diet Pepsi, Seven-Up, Mirinda, Mountain Dew, Nimbooz, Sting, Slice, Tropicana, Aquafina among others. The company has operations in India (except Andhra Pradesh, J&K & Ladakh), Sri Lanka, Nepal, Morocco, Zambia and Zimbabwe.
Outlook
We maintain our HOLD recommendation on the stock. We value the stock at Rs 1340, valuing the business at 45x CY24 PE.
For all recommendations report, click here
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