Buy Varun Beverages, target price Rs 880: Axis Securities

Axis Securities has buy call on Varun Beverages with a target price of Rs 880. The current market price of . is Rs 804.5. Time period given by analyst is one year when Ltd. price can reach defined target.

Varun Beverages Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 52256.27 Crore) operating in FMCG sector.

Varun Beverages Ltd. key Products/Revenue Segments include Beverages, Other Operating Revenue, Other Services for the year ending 31-Dec-2021.

Financials

For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2835.98 Crore, up 63.44 % from last quarter Total Income of Rs 1735.19 Crore and up 26.23 % from last year same quarter Total Income of Rs 2246.62 Crore. Company reported net profit after tax of Rs 271.09 Crore in latest quarter.

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Promoter/FII Holdings
Promoters held 64.89 per cent stake in the company as of 31-Mar-2022, while FIIs owned 21.03 per cent, DIIs 7.21 per cent.

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