Varun Beverages backs double-digit growth, avoids aggressive ₹10 cola push
Despite a weather-hit June quarter that missed estimates, Varun Beverages expects sustained double-digit volume growth, led by dairy, Nimbooz and low- and no-sugar drinks. The PepsiCo bottler will not chase the low-margin ₹10 segment aggressively amid Campa Cola competition.
Varun Beverages missed Q2 estimates after weather-hit April demand, but expects continued double-digit volume growth. It will not aggressively pursue the unprofitable ₹10 segment despite Campa Cola competition, while expanding CALPIS and high-growth non-carbonated beverage offerings in India.
Why this matters
This follows Varun Beverages' Q1 estimate miss, when it said Campa Cola had not dented growth, plus reported 15.1% Q1 net-profit growth and 38.4% overseas volume growth in Q2 CY2026.
Retail-company signals are accelerating, up 395567% QoQ.