05-03-2021 02:11 PM | Source: Angel Broking Ltd
Varun Beverages - 1QCY21 - Result Update by Mr. Amarjeet Maurya, Angel Broking
Below are Views On Varun Beverages - 1QCY21 - Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
During 1QCY21, Varun Beverages Ltd's (VBL) sales grew by ~34% yoy to ~Rs2,241cr led by strong ~33% yoy increase in volume and balance from improvement in realisation. EBITDA stood at ~Rs382, while EBITDA margins improved by 86 bps in 1QCY21 on account of sustainable cost-optimization measures.On the bottom-line front, PAT increased by 128% to Rs1,37cr in 1QCY21 from Rs60cr in 1QCY20. Overall 1QCY21, results are above expectation. Hence, we are positive on stock.
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