Varun Beverages Q2 CY26 profit rises 15% on volumes

Key takeaway for investors

Varun Beverages Ltd (VBL) reported a double-digit rise in consolidated profit for the quarter ended June 30, 2026 (Q2 CY26), supported by higher sales volumes and stronger revenue from operations. The company also announced a second interim dividend for the financial year 2026. The unaudited results were approved by the Board of Directors on July 28, 2026, along with key dates for dividend eligibility and payment.

Q2 CY26 profit and revenue show steady growth

VBL reported consolidated net profit of ₹15,253.55 million in Q2 CY26, up 15.1% year-on-year from ₹13,254.88 million in Q2 CY25. Net revenue from operations rose 20.4% to ₹84,512.32 million from ₹70,173.71 million a year ago. The company attributed the growth primarily to higher consolidated sales volumes. Consolidated sales volumes increased 19.8% to 466.7 million unit cases during the quarter.

EBITDA for Q2 CY26 came in at ₹23,430.37 million, compared with ₹19,987.73 million in Q2 CY25, a 17.2% year-on-year rise. Basic EPS increased to ₹4.50 from ₹3.89, reflecting a 15.7% increase. The combination of volume growth and higher operating revenue was the central driver of the quarter’s performance.

H1 CY26: profit up 16.9%, revenue up 19.4%

For the first half of CY26 (H1 CY26), VBL reported consolidated net profit of ₹24,040.7 million, up 16.9% year-on-year. Revenue for H1 CY26 expanded 19.4% to ₹150,254.2 million. The H1 numbers indicate that growth in Q2 CY26 continued the company’s broader trajectory through the first half of the calendar year.

The company also separately reported Q1 CY26 performance earlier, where revenue from operations grew 18.1% year-on-year to ₹65,741.9 million. Q1 CY26 profit after tax (PAT) rose 20.1% year-on-year to ₹8,787.1 million, alongside a 16.3% rise in consolidated sales volume to 363.4 million cases. These figures provide context to the H1 CY26 total.

Dividend announced: amount, dates, and cash outflow

On July 28, 2026, the board declared a second interim dividend of ₹0.50 per equity share for FY2026. The dividend is scheduled to be paid on August 4, 2026. Shareholders whose names appear in the Register of Members or in depository records as of August 1, 2026, will be eligible.

The total cash outflow for the dividend is approximately ₹1,691 million. The company has also previously indicated that a final dividend of ₹0.50 per share for FY2025 was approved and paid earlier in April 2026.

Investor conference call details

VBL said it will host an earnings conference call with investors and analysts on July 28, 2026, at 2:30 PM IST. The call is intended to discuss the financial results for Q2 and H1 of CY2026. Senior management will be present to address the proceedings and share insights on performance for the period ended June 30, 2026.

Participants can join through dial-in numbers or via a pre-registration link for faster connection. The primary dial-in numbers provided were +91 22 6280 1141 and +91 22 7115 8042.

Key financial snapshot (Q2 CY26 vs Q2 CY25)

What the prior year quarter showed on volumes and weather impact

For Q2 CY2025, the company had flagged that unusually early monsoon rains in India affected peak summer demand. Consolidated sales volume was reported at 389.7 million cases, and the company said India volumes declined 7.1% during that period. It also stated that international volumes grew 15.1%, led by 16.1% growth in South Africa. Despite the weather-related impact on volumes, the company reported EBITDA of ₹19,987 million in Q2 CY2025 and said gross margins remained steady at 54.5%.

This prior-year context matters because the Q2 CY26 results show a sharp rebound in consolidated volumes and a stronger revenue trajectory on a year-on-year basis.

Dividend and event calendar at a glance

Market context and reported stock references

In earlier disclosures around Q1 CY26, the company’s share price was referenced at different points. One update noted the stock opened at ₹521.50 and touched a day’s high of ₹529.40 on April 28, 2026, as of 10:35 AM on the NSE. Another note stated the stock rose 2.47% to ₹502.85 following the company’s Q1 CY26 results. These references provide snapshots tied to prior result announcements rather than Q2 CY26 trading.

Conclusion

Varun Beverages’ Q2 CY26 performance was driven by higher consolidated volumes, with revenue and profit both rising at a double-digit pace year-on-year. The board’s approval of unaudited results, the ₹0.50 second interim dividend, and the scheduled investor call on July 28, 2026 frame the near-term milestones investors will track, alongside the dividend record date of August 1 and payment on August 4, 2026.