Varun Beverages Ltd. benchmarking: Perfomance to industry peers

Financial

	Varun Beverages	ITC	Nestle
Operational Metrics
FMCG
Quarterly Sales Volume - Beverage Cases	389.7 Mn Cases	n/a	n/a
Realization Per Case	180.07 Rs	n/a	n/a
Financials
5 yr Average ROE	20.19 %	30.21 %	98.31 %
5yr average Equity Multiplier	2.12	1.24	3.28
5yr Average Asset Turnover Ratio	0.95	0.78	1.96
5yr Avg Net Profit Margin	10.03 %	31.03 %	15.38 %
Price to Book	8.74	7.3	55.15
P/E	54.06	14.8	82.87
5yr Avg Cash Conversion Cycle	5.31 Days	31.36 Days	-63.4 Days
Inventory Days	44.64 Days	62.07 Days	36.71 Days
Days Receivable	10.36 Days	19.56 Days	5.77 Days
Days Payable	50.39 Days	61.68 Days	102.05 Days
5yr Average Interest Coverage Ratio	7.5	453.2	30.72
5yr Avg ROCE	21.64 %	33.34 %	65.98 %
5yr Avg Operating Profit Margin	21.1 %	35.22 %	23.17 %
5 yr average Debt to Equity	0.67	0.0	0.07
5yr CAGR Net Profit	51.14 %	21.43 %	6.06 %
5yr Average Return on Assets	9.76 %	24.35 %	30.13 %
Shareholdings
Promoter Holding	59.44 %	0.0	62.76 %
Share Pledged by Promoters	0.04 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-4.46 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	3.62 %	4.71 %	0.02 %

	Varun Beverages	ITC	Nestle
Product Wise Break-Up	Product Wise Break-Up Carbonated Soft Drinks 75.0 Packaged Drinking Water 18.0 Fruit Pulp/Juice-Based Drinks- 7.0 Non-Carbonated Beverages 0 Paperboards, Paper And Packaging 0 Agri Business 0 Hotels 0 FMCG 0 Confectionery 0 Powdered & Liquid Beverages 0 Prepared Dishes & Cooking Aids 0 Milk Products And Nutrition 0	Product Wise Break-Up Powdered & Liquid Beverages 0 Non-Carbonated Beverages 0 Carbonated Soft Drinks 0 Confectionery 0 Milk Products And Nutrition 0 Fruit Pulp/Juice-Based Drinks- 0 Paper & Board 7.46 Hotels 0 Agricultural 34.27 FMCG 54.11 Packaged Drinking Water 0 Prepared Dishes & Cooking Aids 0 Others 4.16	Product Wise Break-Up Powdered & Liquid Beverages 14.38 Non-Carbonated Beverages 0 Carbonated Soft Drinks 0 Confectionery 16.6 Milk Products 38.14 Fruit Pulp/Juice-Based Drinks- 0 Paperboards, Paper And Packaging 0 Hotels 0 Agri Business 0 FMCG 0 Packaged Drinking Water 0 Prepared Dishes & Cooking Aids 30.88
Location Wise Break-Up	Location Wise Break-Up India 68.36 Rest of the World 31.64 Zambia 0 Morocco 0 Sri Lanka 0 Nepal 0	Location Wise Break-Up India 82.08 Rest of the World 17.92 Sri Lanka 0 Zambia 0 Nepal 0 Morocco 0	Location Wise Break-Up India 95.37 Rest of the World 4.2 Sri Lanka 0 Zambia 0 Nepal 0 Morocco 0 Others 0.43
Brand Wise Break-Up	Brand Wise Break-Up Mountain Dew 47.0 Pepsi 22.0 Mirinda 17.0 Seven-Up 10.0 Others 4.0	-	-