Varun Beverages Annual Report Analysis - Strong Focus On Growth To Continue: ICICI Securities
Bottles of PepsiCo Inc. Pepsi brand soda (Photographer: Daniel Acker/Bloomberg)

Varun Beverages Annual Report Analysis - Strong Focus On Growth To Continue: 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

Varun Beverages Ltd.’s annual report’s top highlights-

1. Management remains confident on higher growth led by multiple tailwinds such as low per capita consumption, improving penetration in rural and semi-urban markets and rising in-home consumption,

2. The company has increased investments in trade with the installation of 25,000 plus visi-coolers in CY20,

3. there is a reduction in trade discounts largely due to lower turnover. Most dealers were unable to achieve turnover targets, in our view,

4. there is increase in net working capital days due to lower sales but working capital in rupee terms has also increased by Rs 0.5 billion YoY.

Click on the attachment to read the full report:

ICICI Securities Varun Beverages Annual Report .pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.