Varun Beverages balance sheet

As of Dec 2025

Total assets: ₹25,565cr+10.5% on Dec 2024
Shareholders' equity: ₹19,741cr+17.9% on Dec 2024
Total debt: ₹2,508cr−11.3% on Dec 2024
Cash and investments: ₹1,784cr−21.3% on Dec 2024

₹ crore except per share

Tap a line for its trend	FY26Dec 2025	FY25Dec 2024	FY24Dec 2023	FY23Dec 2022	FY22 and earlierAlpha Plus

Current assets
Non-current assets					FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	15,206	11,986	7,838	6,357
	266	1,162	1,922	607
	354	301	24.2	24.2
	1,198	1,115	547	551
	4.5	4.4	0.0	0.0
	163	53.4	17.9	0.0
	11.0	6.1	3.2	0.0
	26.1	21.9	0.0	0.0
	113	98.7	62.3	48.7
	150	127	65.4	48.7
	24.4	19.6	0.0	0.0
	302	512	537	627
	17,669	15,280	10,952	8,214
	2,952	2,791	2,151	1,994
	1,249	846	359	299
	1,784	2,266	242	154
	214	184	218	131
	1,172	836	739	398
	4,420	4,132	1,558	982
	512	936	527	428
	7,889	7,864	4,236	3,404
	6.6	0.0	0.0	0.0
	25,565	23,144	15,187	11,618
Equity
	676	676	650	650
	18,902	15,934	6,287	4,453
	19,579	16,610	6,936	5,102
	162	130	148	113
	19,741	16,740	7,085	5,215
Liabilities
	940	1,198	3,387	1,727
	0.4	0.0	0.0	165
	941	1,198	3,387	1,892
	190	189	213	204
	619	488	343	337
	0.0	4.7	6.8	0.6
	1,750	1,880	3,949	2,434
	1,568	1,628	2,044	1,968
	1,401	1,560	758	824
	595	704	764	583
	3,565	3,893	3,567	3,375
	50.5	73.9	82.5	29.2
	12.3	65.6	39.0	75.6
	447	492	465	489
	4,074	4,524	4,153	3,969
	5,824	6,404	8,103	6,403
	25,565	23,144	15,187	11,618
Assets — additional as-filed lines
	6.0	4.9	0.3	0.0
Trade payables — MSME split
	127	—	—	—
	1,274	—	—	—

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

VBL₹414.80

Varun Beverages Ltd.

· FMCG & Retail

₹ CrorePeersUNITDSPR GODREJCP BRITANNIA TATACONSUM NESTLEIND ITC HINDUNILVR MARICOMcap ₹1.40L Cr

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In ₹ Crore except Per Share As of	FY23 31/12/2022	FY24 31/12/2023	FY25 31/12/2024	FY26 31/12/2025	Last 12M 30/09/2026
Non-current Assets
+ Property, Plant & Equipment	6,357.1	7,837.8	11,985.7	15,206.4	15,206.4
+ Capital Work-in-Progress	606.6	1,922.2	1,162.3	266.3	266.3
+ Goodwill	24.2	24.2	300.9	354.2	354.2
+ Other Intangibles	550.9	547.1	1,115.1	1,198.3	1,198.3
+ Intangibles under Development	0.0	0.0	4.4	4.5	4.5
+ Investments (Equity Method)	0.0	17.9	53.4	163.3	163.3
+ Non-current Investments	0.0	3.2	6.1	11.0	11.0
+ Long-term Loans	0.0	0.0	21.9	26.1	26.1
+ Other Non-current Financial Assets	48.7	62.3	98.7	112.8	112.8
Non-current Financial Assets	48.7	65.4	126.7	149.9	149.9
+ Deferred Tax Assets	0.0	0.0	19.6	24.4	24.4
+ Other Non-current Assets	626.7	536.8	511.7	301.8	301.8
Total Non-current Assets	8,214.2	10,951.6	15,279.9	17,669.1	17,669.1
Current Assets
+ Inventories	1,993.9	2,150.5	2,791.2	2,951.8	2,951.8
+ Trade Receivables	299.3	359.4	845.8	1,249.0	1,249.0
+ Cash & Cash Equivalents	154.3	242.2	2,266.3	1,784.2	1,784.2
+ Other Bank Balances	130.9	217.7	183.8	214.3	214.3
+ Other Current Financial Assets	397.7	738.8	835.6	1,172.1	1,172.1
Current Financial Assets	982.3	1,558.1	4,131.5	4,419.6	4,419.6
+ Other Current Assets	427.8	526.7	936.4	512.0	512.0
Total Current Assets	3,404.0	4,235.6	7,864.0	7,889.4	7,889.4
+ Assets Held for Sale	0.0	0.0	0.0	6.6	6.6
Total Assets	11,618.2	15,187.2	23,143.9	25,565.2	25,565.2
Equity
+ Equity Share Capital	649.6	649.6	676.3	676.4	676.4
+ Other Equity / Reserves	4,452.8	6,286.9	15,933.5	18,902.3	18,902.3
Equity — Owners of Parent	5,102.4	6,936.5	16,609.8	19,578.7	19,578.7
+ Minority Interest	113.1	148.2	129.8	162.3	162.3
Total Equity	5,215.5	7,084.7	16,739.6	19,741.0	19,741.0
Liabilities
+ Borrowings — Non-current	1,727.0	3,386.8	1,197.8	940.2	940.2
+ Other Non-current Financial Liab	165.4	0.0	0.0	0.4	0.4
Non-current Financial Liabilities	1,892.4	3,386.8	1,197.8	940.6	940.6
+ Provisions — Non-current	204.1	212.6	189.4	190.5	190.5
+ Deferred Tax Liabilities	336.8	343.0	487.9	619.2	619.2
+ Other Non-current Liabilities	0.6	6.8	4.7	0.0	0.0
Non-current Liabilities	2,434.0	3,949.3	1,879.8	1,750.3	1,750.3
+ Borrowings — Current	1,967.8	2,044.5	1,628.5	1,567.9	1,567.9
+ Trade Payables	824.3	758.2	1,560.4	1,401.3	1,401.3
+ Other Current Financial Liab	583.0	763.8	704.3	595.4	595.4
Current Financial Liabilities	3,375.0	3,566.6	3,893.2	3,564.6	3,564.6
+ Provisions — Current	29.2	82.5	73.9	50.5	50.5
+ Current Tax Liabilities	75.6	39.0	65.6	12.3	12.3
+ Other Current Liabilities	489.0	465.1	491.7	446.5	446.5
Current Liabilities	3,968.8	4,153.2	4,524.4	4,073.9	4,073.9
Total Liabilities	6,402.8	8,102.5	6,404.3	5,824.2	5,824.2
Total Equity & Liabilities	11,618.2	15,187.2	23,143.9	25,565.2	25,565.2
Assets — additional as-filed lines
+ Current Tax Assets	0.0	0.3	4.9	6.0	6.0
Trade Payables — MSME split
+ Dues to Micro & Small — Current	—	—	—	127.2	127.2
+ Dues to Other Creditors — Current	—	—	—	1,274.1	1,274.1

As filed, sign as filed — read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown, so depth follows the filer: pre-Ind-AS, insurance and NBFC blocks stay hidden unless they were actually reported. Alternate tags for the same idea (e.g. two spellings of a deferred-tax element) are kept as separate lines rather than merged, because merging them would be a guess. Ratios, per-share figures and counts render as raw numbers, not ₹ Crore. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.