To the full analysis
Buyback calculator for Varun Beverages
Varun Beverages stock: key metrics
VBL.NSVarun Beverages had an operating margin of 17.7% and a return on invested capital (ROIC) of 15.7% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2012 | 42.9% | 5.5% | 1.4% |
| 2013 | 43.3% | 33.0% | −1.9% |
| 2014 | 45.0% | 33.8% | −0.8% |
| 2015 | 49.4% | 37.1% | 3.3% |
| 2016 | 55.0% | 41.1% | 1.1% |
| 2017 | 54.8% | 40.2% | 5.2% |
| 2018 | 56.0% | 41.5% | 5.7% |
| 2019 | 54.8% | 40.6% | 6.6% |
| 2020 | 57.1% | 40.4% | 5.1% |
| 2021 | 54.3% | 40.5% | 7.9% |
| 2022 | 52.5% | 41.5% | 11.4% |
| 2023 | 53.8% | 42.9% | 12.8% |
| 2024 | 55.5% | 44.0% | 13.0% |
| 2025 | 39.4% | 17.7% | 14.0% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2012 | 14.6% | 4.8% | 1.0% |
| 2013 | −18.4% | 41.9% | −1.3% |
| 2014 | −5.9% | 17.2% | −0.6% |
| 2015 | −52.2% | 29.3% | 2.5% |
| 2016 | 2.2% | 31.3% | 0.8% |
| 2017 | 11.9% | 32.9% | 4.0% |
| 2018 | 14.7% | 34.8% | 4.9% |
| 2019 | 14.1% | 34.6% | 5.6% |
| 2020 | 9.3% | 38.4% | 3.9% |
| 2021 | 17.0% | 37.4% | 7.2% |
| 2022 | 29.3% | 51.6% | 12.9% |
| 2023 | 29.6% | 50.6% | 13.5% |
| 2024 | 15.6% | 46.3% | 11.2% |
| 2025 | 15.5% | 15.7% | 11.9% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = ₹94.0836)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 3 Jul 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.