For the quarter under review, the company’s revenue from operations rose 18% YoY to Rs 6,574 crore. The company’s revenue stood at Rs 5,567 crore in the same period last year.
Following the results, shares of the company gained over 2% to Rs 501 on the NSE.
Alongside Q1 results, the company has announced an interim dividend of Rs 0.50 per equity share for FY26 on its total issued, subscribed, and paid-up equity share capital of 338,20,94,394 shares, each having a face value of Rs 2.
It has also fixed Friday, May 1, 2026, as the record date to determine eligible shareholders for receipt of the interim dividend.
EBITDA rose 21% to Rs 1,528.93 crore in Q1 CY26 from Rs 1,263.96 crore in Q1 CY2025. EBITDA margin improved by 55 basis points to 23.3% during the quarter. In India, EBITDA margin expanded by 112 basis points, supported by operational efficiencies from strong volume growth and better gross margins.
Consolidated sales volume grew 16.3% to 363.4 million cases in Q1 CY26 from 312.4 million cases in Q1 CY25, driven by strong volume growth of 14.4% in India and 21.4% in international markets.Net realisation per case improved 1.6% at the consolidated level, supported by better realisations in international territories, primarily due to favourable currency movements.
In India, net realisation per case declined 1.5%, mainly due to volume growth initiatives such as upsizing of packs and selective price-point launches in targeted markets to attract new consumers.
Management commentary
Varun Beverages said that demand remained encouraging in India during the quarter, supported by the company’s wide distribution network, stronger execution, and continued investments in manufacturing capacity and chilling infrastructure. The company also undertook targeted initiatives to drive volumes and strengthen its domestic portfolio, including pack upsizing, selective price-point launches in identified markets to attract new consumers, and new launches in the energy and juice-based drink segments.
Looking ahead, the company said that it remains confident about the long-term opportunity across its markets, supported by favourable demographics, rising incomes, increasing urbanisation, and higher beverage consumption. With adequate capacities, a diversified portfolio, and a strong distribution network, it believes it is well placed to deliver sustained growth and create long-term value for stakeholders.