Varun Beverages: JPMorgan on Varun Beverages Maintains Overweight with Target Price of ₹565 as the $32 million acquisition of Devyani Food Industries Kenya (0.9x EV/Revenue) expands VBL’s overseas footprint with immediate manufacturing and distribution capabilities, supports carbonated and energy drink expansion, while integration and scaling remain key monitorables, with overseas operations contributing 33% of revenue and 25% of EBITDA in CY25.

 07 Jul 2026 08:43 AM

Varun Beverages: JPMorgan on Varun Beverages Maintains Overweight with Target Price of ₹565 as the $32 million acquisition of Devyani Food Industries Kenya (0.9x EV/Revenue) expands VBL’s overseas footprint with immediate manufacturing and distribution capabilities, supports carbonated and energy drink expansion, while integration and scaling remain key monitorables, with overseas operations contributing 33% of revenue and 25% of EBITDA in CY25.

Varun Beverages: CLSA on Varun Beverages Maintains High Conviction Outperform with Target Price of ₹654 as the US$32 million acquisition of Devyani Food Industries Kenya strengthens VBL’s entry into Kenya and expansion across Africa through existing manufacturing facilities, while continuing its disciplined overseas acquisition strategy following recent deals in Twizza, Tanzania, and Ghana.

 07 Jul 2026 08:43 AM

Varun Beverages: CLSA on Varun Beverages Maintains High Conviction Outperform with Target Price of ₹654 as the US$32 million acquisition of Devyani Food Industries Kenya strengthens VBL’s entry into Kenya and expansion across Africa through existing manufacturing facilities, while continuing its disciplined overseas acquisition strategy following recent deals in Twizza, Tanzania, and Ghana.

Varun Beverages: CLSA maintains High Conviction Outperform on Varun Beverages with a Target Price of ₹654, citing its strategic partnership with Asahi Group Holdings to launch CALPIS in India, adding a differentiated fermented dairy RTD beverage to its portfolio while leveraging VBL’s strong manufacturing capabilities, cold-chain infrastructure and distribution network.

 19 Jun 2026 08:52 AM

Varun Beverages: CLSA maintains High Conviction Outperform on Varun Beverages with a Target Price of ₹654, citing its strategic partnership with Asahi Group Holdings to launch CALPIS in India, adding a differentiated fermented dairy RTD beverage to its portfolio while leveraging VBL’s strong manufacturing capabilities, cold-chain infrastructure and distribution network.

Varun Beverages: Asahi Group Signs Franchise Deal With Varun Beverages To Launch Calpis In India

 18 Jun 2026 10:44 AM

Varun Beverages: Asahi Group Signs Franchise Deal With Varun Beverages To Launch Calpis In India

VBL: Subsidiary Acquires Full Stake In Twizza For ZAR 2,053 Million (₹11,398 Million); Set To Be Step-Down Subsidiary From March 18, 2026.

 18 Mar 2026 09:57 PM

VBL: Subsidiary Acquires Full Stake In Twizza For ZAR 2,053 Million (₹11,398 Million); Set To Be Step-Down Subsidiary From March 18, 2026.