Varun Beverages Q1 Review - Strong Volume Growth On Demand Recovery: Motilal Oswal

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. .Motilal Oswal Report.Varun Beverages Ltd. reported a strong operating performance on the back of higher volume growth across the carbonated soft drinks and non-carbonated beverages segments. Volumes increased 32% year-on-year to 151 million unit-cases. This was primarily led by an increase in out-of-home consumption, coupled with strong demand for newly launched products in the NCB segment. Q1 CY21 revenue/Ebitda numbers were marginally better than our estimates. However, we decrease our revenue/earnings estimate for CY21 by 4%/16%, primarily due to the partial lockdowns imposed across several states – which is expected to affect volumes during the peak season over April–June 2021 and delay expansion plans in the south and west regions. .Click on the attachment to read the full report:.DISCLAIMERThis 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.

Varun Beverages Q1 Review - Strong Volume Growth On Demand Recovery: Motilal Oswal