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 Varun Beverages Ltd. is Rs 804.5. Time period given by analyst is one year when Varun Beverages 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.



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.