Varun Beverages Ltd.

Financial

	Varun Beverages	ITC	Nestle
Operational Metrics
FMCG Sector
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	9.62	7.37	54.08
P/E	62.05	14.84	69.79
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	59.82 %	0.0	62.76 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-4.08 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	2.08 %	3.76 %	-0.15 %

Business

	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 Packaged Drinking Water 0 Non-Carbonated Beverages 0 Agricultural 16.96 Powdered & Liquid Beverages 0 Fruit Pulp/Juice-Based Drinks- 0 Carbonated Soft Drinks 0 FMCG 67.64 Prepared Dishes & Cooking Aids 0 Milk Products And Nutrition 0 Confectionery 0 Hotels 0 Paper & Board 10.05 Others 5.35	Product Wise Break-Up Packaged Drinking Water 0 Non-Carbonated Beverages 0 Agri Business 0 Powdered & Liquid Beverages 14.38 Fruit Pulp/Juice-Based Drinks- 0 Carbonated Soft Drinks 0 FMCG 0 Prepared Dishes & Cooking Aids 30.88 Milk Products 38.14 Confectionery 16.6 Hotels 0 Paperboards, Paper And Packaging 0
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 Zambia 0 Morocco 0 India 82.08 Nepal 0 Sri Lanka 0 Rest of the World 17.92	Location Wise Break-Up Zambia 0 Morocco 0 India 95.37 Nepal 0 Sri Lanka 0 Rest of the World 4.2 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	-	-