Varun Beverages 4QCY20 Result Update By Amarjeet Maurya, Angel Broking
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Below are Views On Varun Beverages 4QCY20 Result Update By Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
During 4QCY20, Varun Beverages Ltd's (VBL) sales grew by ~9% yoy to ~Rs1,331cr led by healthy ~6% yoy increase in volume and balance from improvement in realisation. EBITDA stood at ~Rs172, while EBITDA margins improved by 346 bps in 4QCY20 on account of sustainable cost-optimization measures.On the bottom-line front, losses reduced significantly to Rs7cr from Rs54cr in 4QCY19. Overall 4QCY20, results are above expectation. Hence, we are positive on stock.
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