Varun Beverages Ltd. benchmarking: Perfomance to industry peers

Financial

	Varun Beverages	ITC	Nestle
Operational Metrics
FMCG
Quarterly Sales Volume - Beverage Cases	273.8 Mn Cases	n/a	n/a
Realization Per Case	178.8 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	8.65	7.07	54.07
P/E	53.48	14.34	81.25
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 74.0 Packaged Drinking Water 22.0 Non-Carbonated Beverages 4.0 Fruit Pulp/Juice-Based Drinks- 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 Carbonated Soft Drinks 0 Fruit Pulp/Juice-Based Drinks- 0 Powdered & Liquid Beverages 0 Prepared Dishes & Cooking Aids 0 Non-Carbonated Beverages 0 Hotels 0 Confectionery 0 FMCG 67.35 Packaged Drinking Water 0 Agricultural 17.57 Paper & Board 9.66 Milk Products And Nutrition 0 Others 5.42	Product Wise Break-Up Carbonated Soft Drinks 0 Fruit Pulp/Juice-Based Drinks- 0 Powdered & Liquid Beverages 14.38 Prepared Dishes & Cooking Aids 30.88 Non-Carbonated Beverages 0 Hotels 0 Confectionery 16.6 FMCG 0 Packaged Drinking Water 0 Agri Business 0 Paperboards, Paper And Packaging 0 Milk Products 38.14
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 Rest of the World 17.92 India 82.08 Morocco 0 Nepal 0 Zambia 0 Sri Lanka 0	Location Wise Break-Up Rest of the World 3.88 India 95.88 Morocco 0 Nepal 0 Zambia 0 Sri Lanka 0 Others 0.24
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	-	-