Varun Beverages cash flow

Latest FY26
Cash from operations
₹3,509cr+3.8% on FY25
Capital spending
₹2,739cr−27.5% on FY25
Free cash flow
₹770cr−₹398 cr in FY25
Cash from financing
−₹1,266cr₹2,954 cr in FY25
₹ crore except per share
Tap a line for its trendLast 12Mto Sep 2026FY26Dec 2025FY25Dec 2024FY24Dec 2023FY23Dec 2022FY22 and earlierAlpha Plus
Adjustments to reconcile profit — non-cash items
FY22 and earlierEvery year the company has filed comes with Alpha Plus.
—1,216947681617
—170450268185
—−31.8−41.9−23.8−22.8
—3.816.27.92.9
—−328−49.30.3−129
—−76.920.759.072.2
—0.00.00.0−0.4
Changes in working capital
—14.8−479−160−557
—−285−133−73.0−123
—0.04650.00.0
—223−522−4570.0
—0.00.00.0−326
—0.00.016.90.0
—−5240.00.0421
—0.00.00.0−0.9
Cash from operating activities
4,5654,0163,4352,7402,024
—382674319140
—4,3974,1093,0592,163
—888728668373
—3,5093,3812,3911,790
Cash from investing activities
—2,7393,7793,2641,801
—26.738.670.151.1
—80.72.20.40.4
—0.00.00.00.0
—12164231.60.0
—46.028.122.023.2
—−28.435.0−86.821.7
—−2,735−4,317−3,290−1,705
Cash from financing activities
—8.47,4514.40.0
—3841,9572,7831,478
—8855,5081,2771,138
—10815629.523.4
—159465269172
—507325227162
—0.00.00.40.0
—−1,2662,954985−17.9
—−4922,01885.867.5
—10.06.22.1−63.9
—−4822,02487.93.6
——2,266242154
Reference items
5,9385,0494,7113,6092,788
22.4%22.7%23.0%22.1%20.8%
770770−398−873−11.0
—293−3,468594—
₹2.28₹2.28−₹1.18−₹2.58−₹0.03
182.14×————
—1.15×1.28×1.14×1.15×
—888728668373
—159465269172
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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

VBL₹414.80

Varun Beverages Ltd.

· FMCG & Retail
₹ CrorePeersUNITDSPRGODREJCPBRITANNIATATACONSUMNESTLEINDITCHINDUNILVRMARICOMcap ₹1.40L Cr
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In ₹ Crore except Per Share
12 Months Ending
FY23
31/12/2022
FY24
31/12/2023
FY25
31/12/2024
FY26
31/12/2025
Last 12M
30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation617.2680.9947.41,216.5—
+ Finance Costs185.4268.1450.4169.6—
+ Interest Income-22.8-23.8-41.9-31.8—
+ Share-based Payments2.97.916.23.8—
+ Unrealised FX (Gain) / Loss-128.80.3-49.3-328.3—
+ Other Non-cash Items72.259.020.7-76.9—
+ Other — Cash Effects are Investing / Financing-0.40.00.00.0—
Changes in Working Capital
+ Inventories-556.8-160.2-478.814.8—
+ Trade Receivables — Current-123.4-73.0-133.2-285.1—
+ Other Financial Assets — Current0.00.0465.00.0—
+ Other Current Assets0.0-457.2-522.4223.1—
+ Other Non-current Assets-325.70.00.00.0—
+ Other Current Liabilities0.016.90.00.0—
+ Other Non-current Liabilities420.70.00.0-523.8—
+ Provisions — Current-0.90.00.00.0—
Cash from Operating Activities
Profit Before Tax (per I/S)2,023.62,739.83,434.64,015.74,565.0
+ Total Adjustments (incl. Working Capital)139.7318.9674.1381.8—
Cash from Operations (pre-tax)2,163.43,058.74,108.74,397.5—
+ Income Taxes Paid373.3667.9727.6888.2—
Cash from Operating Activities1,790.02,390.83,381.13,509.3—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)1,801.03,264.03,779.02,739.1—
+ Disp of Fixed Assets51.170.138.626.7—
+ Sale of Investments (Equity / Debt)0.40.42.280.7—
+ Acq of Interests in Joint Ventures0.00.00.00.0—
+ Acq of Subsidiaries / Businesses (net)0.031.6641.8120.8—
+ Interest Received — Investing23.222.028.146.0—
+ Other Inflows / (Outflows) — Investing21.7-86.835.0-28.4—
Cash from Investing Activities-1,704.6-3,289.9-4,316.8-2,734.9—
Cash from Financing Activities
+ Proceeds from Exercise of Stock Options0.04.47,450.88.4—
+ Proceeds from Borrowings1,477.72,782.91,956.8383.9—
+ Repayment of Borrowings1,138.21,276.55,508.4884.7—
+ Payment of Lease Liabilities23.429.5155.9108.2—
+ Interest Paid171.7269.4465.0158.7—
+ Dividends Paid162.4227.3324.8507.3—
+ Other Inflows / (Outflows) — Financing0.00.40.00.0—
Cash from Financing Activities-17.9984.92,953.5-1,266.5—
Net Changes in Cash (pre-FX)67.585.82,017.9-492.1—
+ Effect of FX Rate Changes on Cash-63.92.16.210.0—
Net Changes in Cash3.687.92,024.1-482.1—
Closing Cash154.3242.22,266.3——
Reference Items
EBITDA2,788.13,609.54,711.15,049.45,937.9
EBITDA Margin %20.8222.1223.0022.7222.39
Free Cash Flow (CFO − Capex)-11.0-873.3-397.9770.2770.2
Free Cash Flow to Equity—593.8-3,467.9293.5—
Free Cash Flow per Basic Share-0.03-2.58-1.182.282.28
Price to Free Cash Flow————182.14
Cash Flow to Net Income1.151.141.281.15—
Cash Paid for Taxes373.3667.9727.6888.2—
Cash Paid for Interest171.7269.4465.0158.7—
As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
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%.