Varun Beverages Ltd.

Financial

	Varun Beverages	ITC	Nestle
Operational Metrics
Beverages
Quarterly Sales Volume - Beverage Cases	267.5 Mn Cases	n/a	n/a
Realization Per Case	179.6 Rs	n/a	n/a
Financials
5 yr Average ROE	19.89 %	24.98 %	105.89 %
5yr average Equity Multiplier	2.35	1.22	3.73
5yr Average Asset Turnover Ratio	0.94	0.74	1.88
5yr Avg Net Profit Margin	8.75 %	27.74 %	15.23 %
Price to Book	24.13	7.72	53.45
P/E	81.46	28.3	62.79
5yr Avg Cash Conversion Cycle	13.63 Days	14.81 Days	-50.46 Days
Inventory Days	42.32 Days	60.14 Days	34.03 Days
Days Receivable	7.22 Days	16.58 Days	3.57 Days
Days Payable	49.89 Days	65.61 Days	105.87 Days
5yr Average Interest Coverage Ratio	6.51	315.72	22.88
5yr Avg ROCE	20.73 %	32.22 %	62.56 %
5yr Avg Operating Profit Margin	20.46 %	36.16 %	23.5 %
5 yr average Debt to Equity	0.85	0.0	0.02
5yr CAGR Net Profit	34.39 %	5.97 %	14.85 %
5yr Average Return on Assets	8.63 %	20.41 %	28.75 %
Shareholdings
Promoter Holding	62.66 %	0.0	62.76 %
Share Pledged by Promoters	0.04 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-2.23 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	-3.23 %	2.38 %	0.71 %

Business

	Varun Beverages	ITC	Nestle
Product Wise Break-Up	Product Wise Break-Up Carbonated Soft Drinks 75.0 Packaged Drinking Water 21.0 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 Hotel 3.25 FMCG 61.47 Prepared Dishes & Cooking Aids 0 Packaged Drinking Water 0 Paper & Board 9.45 Powdered & Liquid Beverages 0 Milk Products And Nutrition 0 Carbonated Soft Drinks 0 Fruit Pulp/Juice-Based Drinks- 0 Non-Carbonated Beverages 0 Confectionery 0 Agricultural 25.83	Product Wise Break-Up Hotels 0 FMCG 0 Prepared Dishes & Cooking Aids 30.45 Packaged Drinking Water 0 Paperboards, Paper And Packaging 0 Powdered & Liquid Beverages 12.44 Milk Products 40.65 Carbonated Soft Drinks 0 Fruit Pulp/Juice-Based Drinks- 0 Non-Carbonated Beverages 0 Confectionery 16.46 Agri Business 0
Location Wise Break-Up	Location Wise Break-Up India 76.47 Rest of the World 23.53 Zambia 0 Morocco 0 Sri Lanka 0 Nepal 0	Location Wise Break-Up Nepal 0 Morocco 0 India 83.85 Rest of the World 16.15 Zambia 0 Sri Lanka 0	Location Wise Break-Up Nepal 0 Morocco 0 India 96.22 Rest of the World 3.78 Zambia 0 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	-	-