Varun Beverages share price targets as stock rebounds 42% from March low

Varun Beverages stock price: Shares of Varun Beverages are in a bull run, rising 42% from their 52-week low to 52-week high in two months. The stock of the PepsiCo bottler slipped to a 52 week low of Rs 381 on March 23, 2026. However, strong earnings and stellar summer demand outlook (it bottles PepsiCo drinks like Pepsi, Sting, Mountain Dew, Mirinda, and Slice) amid strong heatwave expectations led to the recovery of the FMCG stock. Additionally, the company’s announcement of buying The Beverage Company in South Africa and PepsiCo extending its exclusive bottling and trademark license in India to April 2049 (from 2039) also improved sentiment around the Varun Beverages stock. 

In Q1, the firm reported a 20.1% YoY rise in net profit to Rs. 878.7 crore. Revenue rose 18.1% YoY to Rs 6,574.2 crore

Subsequently, the stock hit a 52 week high of Rs 541.20 on May 22, 2026. Amid the current bull run, the FMCG stock has turned overbought on charts with a RSI of 72.

The multibagger has risen 512% in five years. 

In the previous session, Varun Beverages stock rose 3.71% to Rs 539.60 against the previous close of Rs 520.30. A total  of 23.09 lakh shares of the firm changed hands, amounting to a turnover of Rs 123.51 crore.                                                             

Varun Beverages shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 150 day and 200 day moving averages. This indicates positive sentiment around the stock in both short and long term. 

Here’s a look at the outlook and price targets for the Varun Beverages stock. 

Kunal Kamble, Sr. Technical Research Analyst said, “For the coming week, immediate resistance is placed around Rs 550–560, and a sustained move above this zone can trigger fresh upside towards Rs 585–600 levels. On the downside, Rs 510 remains immediate support, followed by a stronger base near Rs 485. The broader structure has turned positive, and as long as the stock sustains above the breakout zone of Rs 500. Traders can consider buying at current market price around Rs 539 and adding on dips near Rs 515–520 zone.”

Brokerage YES Securities has a buy call on the stock with a price target of Rs 615 on the stock. 

In its conference call, the company said with the current weather condition and low base (May and June’26), it is looking positively at India business for 2QCY26. VBL plans to reduce discounts & increase efficiency to compensate for any cost inflation especially transportation cost. 
VBL is targeting 0.5 million outlet addition on a base of 4mn outlets this year. 

YES Securities expects VBL’s revenue to grow at a 15% CAGR over CY25-27E with 50bps EBITDA margin improvement largely driven by scale, efficiencies, channel mix  improvement and backward integration. “We maintain our BUY rating with revised target price (TP) of Rs 615 (Rs 535 earlier), as we assign a target multiple of ~46x and roll forward to March’28E EPS. 

Brokerage Emkay Global has raised its price target to Rs 620 for the FMCG stock. 

VBL’s ahead-of-the-curve investment in distribution/capacity expansion (up 50%) is a key competitive edge when the global supply chain is encountering disruption. FCF generation 
is likely to significantly improve, as CY26 organic capex is expected at Rs 500 crore, according to Emkay. 

“Apart from maintaining margins, the company remains focused on driving growth, led by continued expansion of its distribution network, with addition of 0.5 mn outlets targeted in CY26 plus new product launches. New launches like A-Rush and Sting Classic are seeing strong traction, with better than expected demand, though aluminium-can shortage remains a constraint,” said Emkay Global. 

Varun Beverages is a beverage company. It operates franchisee of PepsiCo. The company produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.