Double Dhamaka! Board likely to announce stock split & interim dividend; Beverages company’s stock trades at high ROE & high ROCE
The stock gave multibagger returns of 110 per cent in just 1 year whereas BSE Sensex Index was up by 22 per cent.
Varun Beverages Ltd informed that a meeting of the Board of Directors of the company will be held on Tuesday, July 30, 2024, inter-alia, to consider and approve the following:
- Unaudited financial results of the company, both on a standalone and consolidated basis, for the quarter and half year ended June 30, 2024.
- Declaration of interim dividend to the equity shareholders of the company for the Financial Year 2024.
- Proposal for sub-division/split of existing equity shares of the company having a face value of Rs 5 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 other applicable approval(s) (if any).
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About the Company
Varun Beverages Ltd has been associated with PepsiCo since the 1990s and is a key player in the beverage industry and one of the largest franchisee of PepsiCo in the world. The company produces and distributes a wide range of carbonated soft drinks, non-carbonated drinks and packaged water sold under trademarks owned by PepsiCo. PepsiCo brands produced and sold by the company include Pepsi, Seven-up, Mirinda Orange, Mountain Dew, Tropicana Juices and many more.
On Friday, shares of Varun Beverages Ltd gained 2.52 per cent and made a fresh 52-week high of Rs 1,692.90 per share. The company has a market cap of over Rs 2 lakh crore and has delivered good profit growth of 47.3 per cent CAGR over the last 5 years. The shares of the company have an ROE of 35 per cent and an ROCE of 29 per cent. The stock gave multibagger returns of 110 per cent in just 1 year whereas BSE Sensex Index was up by 22 per cent. Investors should keep an eye on this Large-Cap stock.
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