Varun Beverages Ltd.

Financial

	Varun Beverages	ITC	Nestle
Operational Metrics
Beverages
Quarterly Sales Volume - Beverage Cases	215.0 Mn Cases	n/a	n/a
Realization Per Case	177.9 Rs	n/a	n/a
Financials
5 yr Average ROE	20.19 %	24.98 %	105.89 %
5yr average Equity Multiplier	2.12	1.22	3.73
5yr Average Asset Turnover Ratio	0.95	0.74	1.88
5yr Avg Net Profit Margin	10.03 %	27.74 %	15.23 %
Price to Book	10.97	6.76	55.13
P/E	70.25	25.27	63.99
5yr Avg Cash Conversion Cycle	5.31 Days	14.81 Days	-50.46 Days
Inventory Days	44.64 Days	60.14 Days	34.03 Days
Days Receivable	10.36 Days	16.58 Days	3.57 Days
Days Payable	50.39 Days	65.61 Days	105.87 Days
5yr Average Interest Coverage Ratio	7.5	315.72	22.88
5yr Avg ROCE	21.64 %	32.22 %	62.56 %
5yr Avg Operating Profit Margin	21.1 %	36.16 %	23.5 %
5 yr average Debt to Equity	0.67	0.0	0.02
5yr CAGR Net Profit	51.14 %	5.97 %	14.85 %
5yr Average Return on Assets	9.76 %	20.41 %	28.75 %
Shareholdings
Promoter Holding	60.2 %	0.0	62.76 %
Share Pledged by Promoters	0.04 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-4.69 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	-1.88 %	2.17 %	0.63 %

Business

	Varun Beverages	ITC	Nestle
Product Wise Break-Up	Product Wise Break-Up Carbonated Soft Drinks 73.0 Packaged Drinking Water 23.0 Fruit Pulp/Juice-Based Drinks- 4.0 Non-Carbonated Beverages 0 Paperboards, Paper And Packaging 0 Agri Business 0 Hotels 0 FMCG 0 Confectionery 0 Powdered & Liquid Beverages 0 Prepared Dishes & Cooking Aids 0 Milk Products And Nutrition 0	Product Wise Break-Up Non-Carbonated Beverages 0 Packaged Drinking Water 0 Paper & Board 10.09 Prepared Dishes & Cooking Aids 0 Powdered & Liquid Beverages 0 Fruit Pulp/Juice-Based Drinks- 0 Milk Products And Nutrition 0 Confectionery 0 Carbonated Soft Drinks 0 Hotels 0 FMCG 67.59 Agricultural 17.05 Others 5.27	Product Wise Break-Up Non-Carbonated Beverages 0 Packaged Drinking Water 0 Paperboards, Paper And Packaging 0 Prepared Dishes & Cooking Aids 30.45 Powdered & Liquid Beverages 12.44 Fruit Pulp/Juice-Based Drinks- 0 Milk Products 40.65 Confectionery 16.46 Carbonated Soft Drinks 0 Hotels 0 FMCG 0 Agri Business 0
Location Wise Break-Up	Location Wise Break-Up India 68.36 Rest of the World 31.64 Zambia 0 Morocco 0 Sri Lanka 0 Nepal 0	Location Wise Break-Up Morocco 0 Nepal 0 Zambia 0 Rest of the World 16.15 India 83.85 Sri Lanka 0	Location Wise Break-Up Morocco 0 Nepal 0 Zambia 0 Rest of the World 4.12 India 95.88 Sri Lanka 0
Brand Wise Break-Up	Brand Wise Break-Up Mountain Dew 47.0 Pepsi 22.0 Mirinda 17.0 Seven-Up 10.0 Others 4.0	-	-