CLSA on Varun Beverages
Maintain High Conviction Outperform; Cut TP to Rs 774 from Rs 786
Strong margin expansion amid volume decline as VBL flexes cost levers
India business volume decline of 7%; domestic realisation driven lower by mix
Ebitda margin expansion of 82bps YoY driven by operational efficiencies
Maintain High Conviction Outperform; Cut TP to Rs 774 from Rs 786
Strong margin expansion amid volume decline as VBL flexes cost levers
India business volume decline of 7%; domestic realisation driven lower by mix
Ebitda margin expansion of 82bps YoY driven by operational efficiencies
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
