Since its results, the stock of bottling and beverage distribution company Varun Beverages (VBL) is up 7 per cent on the back of a strong 2022-23 January-March quarter performance, robust outlook, and revision in profit estimates.
Given the sharp uptick, it is now part of the trillion-rupee club, with its market capitalisation at Rs 1.01 trillion. The stock is one of the best performers in the consumer space as well as the S&P BSE 200, of which it is a constituent. It has logged gains of 120 per cent over the past year, with 42 per cent contribution coming in six months.
Even as its consumer peers are struggling on volume and revenue growth, VBL outperformed its peers by a wide margin. Sales in the quarter surged 37.7 per cent year-on-year (YoY) to Rs 3,893 crore. Growth was largely driven by a volume uptick of 24.7 per cent.
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