Brands
Varun Beverages posts strong growth despite weak summer
MUMBAI: Varun Beverages Limited (VBL) reported a steady set of annual results for the year ended 31 December 2025, despite weaker demand conditions during the peak summer season in India due to heavy rainfall. The company’s performance reflects the resilience of its operations across markets.
For the full calendar year ended 31 December 2025, VBL reported a net profit jump of 16.2 per cent, reaching Rs. 30,620.4 million. This financial effervescence was driven by an 8.4 per cent rise in net revenues to Rs. 216,853.8 million. Even though “unprecedented heavy rainfall” tried to water down domestic demand during the Indian summer, the company’s resilient business model ensured that total sales volumes still climbed 7.9 per cent to 1,213.1 million cases for the year.
The year ended on a particularly high note. In the fourth quarter (Q4) alone, consolidated sales volumes bubbled up by 10.2 per cent to 237.1 million cases. Net revenue for the quarter followed suit, growing 14.0 per cent to Rs. 42,044.2 million. The company also saw its net realisation per case tick up by 3.4 per cent to Rs. 177.3, largely thanks to a stronger performance in its international territories.
VBL is clearly hungry for more than just drinks. The company has been busy munching into the snacks market, with commercial production of Cheetos now underway in Morocco and Zimbabwe. Distribution of PepsiCo snacks is also gaining traction in Zambia.
But the real “head” of the new strategy is a move into the hard stuff. VBL has entered an exclusive agreement with Carlsberg to test-market beer in certain African territories. To support this, the company has amended its Memorandum of Association to include the manufacture and sale of alcoholic beverages, ranging from beer and wine to spirits such as whisky and rum.
The firm’s international footprint continues to expand rapidly:
South Africa: VBL is set to acquire 100 per cent of Twizza (Pty) Ltd for approximately Rs. 20,95 million, with the transaction expected to be completed by June 2026.
Kenya: A new wholly-owned subsidiary has been incorporated to manufacture and sell beverages.
India: Production capacity was bolstered by four new greenfield facilities in Prayagraj, Damtal, Buxar and Mendipathar.
While profits are flowing, the company is also keeping an eye on its water footprint. VBL reported it is “water positive,” using only half of the water it recharges into the ground. It has also achieved a 100 per cent plastic waste recycling rate relative to its production, meeting its target ahead of schedule.
Chairman Ravi Jaipuria noted that while the weather was a “disruption,” the company’s strong on-ground execution carried the day. Shareholders also have something to toast to, with the Board recommending a final dividend of Rs. 0.50 per share.
With a debt-free status in its Indian operations and a credit rating upgrade to Crisil AAA/Stable, Varun Beverages looks set to keep its competitors feeling a little flat.
Brands
Radico Khaitan appoints Kunal Madan as chief marketing officer
Promotions signal focus on premium spirits, global expansion and homegrown leadership
UTTAR PRADESH: Radico Khaitan has elevated two long-serving insiders to its top leadership team, signalling a bold push into premium spirits and global markets. Kunal Madan steps in as chief marketing officer, while Sudhir Upadhyay takes charge as chief sales officer, both part of what managing director Abhishek Khaitan calls a consciously built next-generation leadership bench.
“At Radico Khaitan, our growth has always been powered by people,” Khaitan said. “True leadership is not imported, it is cultivated.” He added that empowering internal talent ensures continuity while keeping the company globally competitive and future-ready.
Madan, with over 20 years of experience across global sales and marketing, will drive brand architecture, marketing strategy, and the premiumisation agenda, including travel retail. Upadhyay, who has 25 years in the industry and was most recently national sales head, will oversee distribution expansion and execution across markets.
The leadership reshuffle comes amid Radico’s intensified focus on premium spirits, a segment driving higher margins and international growth. Last year, Ajay Kakkar was brought on to head the Premium On-Trade vertical, targeting modern and institutional channels to boost presence in high-growth segments.
Meanwhile, Amar Sinha stepped down as chief operating officer after contributing across multiple growth phases. Khaitan acknowledged Sinha’s role in supporting the company’s trajectory, while Sinha described his tenure as “an absolute privilege,” crediting Khaitan’s leadership for shaping the company’s strategic direction.
With a homegrown leadership bench and a clear premium agenda, Radico Khaitan is set to accelerate its global expansion while doubling down on brand elevation and market impact.
