News ArticleVarun Beverages Posts 33.2% Revenue Increase in Q3 CY2026, Expands African Presence with New Brands and Distribution Deals
Consolidated sales volumes grew by 28.7%, including 39.9% growth in international territories; Board approves interim dividend of Rs. 0.50 per share
Varun Beverages Limited reported a 33.2% year-on-year increase in revenue to Rs. 66,075.6 million for Q3 CY2026, driven by 28.7% consolidated sales volume growth. Key developments include the merger completion of Twizza and BevCo in South Africa, launch of new beverage brands in Kenya, an exclusive distribution agreement with Mondelez in Zimbabwe, and incorporation of KIVA Spirits to explore alcoholic and ready-to-drink beverages. The company also declared an interim dividend of Rs. 0.50 per share for a total payout of Rs. 1,691 million.
Varun Beverages Limited
Investor Presentation
Varun Beverages Limited reported a revenue rise of 33.2% to Rs. 66,075.6 million for the quarter ended September 30, 2026, on the back of a 28.7% increase in consolidated sales volumes. The company expanded its footprint in Africa through mergers, new product launches, and distribution agreements while declaring an interim dividend.
Varun Beverages achieved volume growth of 22.5% in India and 39.9% in international markets during Q3 CY2026, supported by expanded manufacturing capacity and distribution infrastructure in India and strategic activities in Africa.
In Africa, the merger of subsidiary Twizza with BevCo was completed in August 2026, expected to unlock operational efficiencies. The company launched two new beverage brands, 'BOLT UP' and 'XTREME FIZZ', in Kenya, increasing its presence in the region.
Varun Beverages also signed an exclusive distribution agreement with Mondelez South Africa for chocolate, biscuit, candy, and gum products in Zimbabwe effective October 1, 2026, broadening its product portfolio.
As part of business diversification, the company incorporated KIVA Spirits and Company Limited to explore ready-to-drink and alcoholic beverage opportunities in India.
The Board approved an interim dividend of Rs. 0.50 per share, amounting to a total cash outflow of approximately Rs. 1,691 million, aligning with its dividend policy.
Highlights
- 33.2% year-on-year revenue increase to Rs. 66,075.6 million in Q3 CY2026
- Consolidated sales volume growth of 28.7%, with 22.5% growth in India and 39.9% internationally
- Merger of Twizza with BevCo completed on August 1, 2026, in South Africa
- Launch of 'BOLT UP' and 'XTREME FIZZ' beverage brands in Kenya
- Exclusive distribution agreement with Mondelez in Zimbabwe from October 1, 2026
- Incorporation of KIVA Spirits and Company Limited to explore ready-to-drink and alcoholic beverages in India
Key Data Snapshot
What happened
- Varun Beverages posted a 33.2% increase in revenue to Rs. 66,075.6 million for Q3 CY2026 supported by a 28.7% increase in consolidated sales volumes.
- In India, sales volumes grew by 22.5%, aided by expanded manufacturing and distribution capabilities.
- International sales volumes grew by 39.9%, with strong progress in African markets.
Key details
- Merger of Twizza with BevCo in South Africa was completed on August 1, 2026, expected to deliver operational synergies.
- Launched two new beverage brands, 'BOLT UP' and 'XTREME FIZZ', in Kenya to strengthen African market presence.
- Entered an exclusive distribution agreement with Mondelez for chocolate and confectionery products in Zimbabwe effective October 1, 2026.
- Incorporated wholly owned subsidiary KIVA Spirits and Company Limited for entering ready-to-drink and alcoholic beverage segments in India.
- Declared interim dividend of Rs. 0.50 per share totaling ~Rs. 1,691 million in line with company policy.
Strategic context
- Company aims to drive growth across established markets leveraging recent investments.
- Focus on expanding product offerings and diversifying into adjacent categories including alcoholic beverages.
- Plans to maintain profitability and long-term value creation through selective opportunities.
Highlights
- 33.2% year-on-year revenue increase to Rs. 66,075.6 million in Q3 CY2026
- Consolidated sales volume growth of 28.7%, with 22.5% growth in India and 39.9% internationally
- Merger of Twizza with BevCo completed on August 1, 2026, in South Africa
- Launch of 'BOLT UP' and 'XTREME FIZZ' beverage brands in Kenya
- Exclusive distribution agreement with Mondelez in Zimbabwe from October 1, 2026
- Incorporation of KIVA Spirits and Company Limited to explore ready-to-drink and alcoholic beverages in India
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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