Varun Beverages: A Beneficiary Of Rising In-Home Consumption, Says ICICI Securities 
Cans of PepsiCo Inc. soda are arranged for a photograph in Shelbyville, Kentucky, U.S. (Photographer: Luke Sharrett/Bloomberg)

Varun Beverages: A Beneficiary Of Rising In-Home Consumption, Says ICICI Securities 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Post our latest interaction with the management and channel checks, we note -

1. in-home consumption remains strong even after lifting of lockdown and travel restrictions. Increase in in-home consumption is a structural growth opportunity for Varun Beverages Ltd. and the company is focusing on 1.25 litre stock keeeping unit to capture it,

2. there were no changes in prices of beverages as there is negligible inflation in input prices and

3. the disruption in North India due to farmers protest and early onset of winter season has impacted consumption of beverages in December 2020 (a transitory impact).

Click on the attachment to read the full report:

ICICI Securities Varun Beverages Company Update.pdf

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