Varun Beverages Ltd (VBL), PepsiCo’s top franchise bottler, has scheduled a board meeting on May 2, 2023, to discuss a stock split and ratify the earnings report for the fourth quarter.
“We wish to inform you that a meeting of the Board of Directors of the company will be held on Tuesday, 2 May, 2023 inter-alia, to consider and approve unaudited financial results of the company, both on standalone and consolidated basis, for the quarter ended 31 March, 2023,” VBL said in a regulatory filing.
“Proposal for sub-division/split of existing equity shares of the company having a face value of INR 10/- each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of equity shareholders of the company and/or any other regulatory/statutory approvals (if any),” the company added.
For the quarter that ended on December 31, 2022, Varun Beverages Ltd (VBL), whose financial year follows the calendar year, announced a consolidated net profit of INR 81.52 crore, more than double its previous figure, driven by volume growth and improved net realizations.
PepsiCo’s beverage sales volume in India is predominantly represented by Varun Beverages Ltd (VBL), which accounts for 90 percent of the sales.
Varun Beverages Ltd (VBL) is responsible for the manufacturing, marketing, and distribution of various PepsiCo-owned products, including carbonated soft drinks, carbonated juice-based beverages, juice-based beverages, energy drinks, sports drinks, and packaged drinking water.
On Thursday, Varun Beverages Ltd’s shares were trading at INR 1,435.25 on the NSE, marking a decrease of 0.84% from the previous day.
