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VBL Consensus Forecast

No. of reports in last year
6
No. of analysts
3
Average Consensus Forecast
963.67
Consensus Potential
20.50%

VBL Price Target Potential

BrokerageTargetPotential
Motilal Oswal115034.54%
Axis Direct100525.10%
Karvy Stock Broking8319.42%

VBL Targets in FrontPage Forums

2 Users have submitted 2 trade ideas of Rs. 88,880 for VBL
100% Bullish
0% Bearish
See buy or sell ideas on FrontPage Forums >>

VBL Ratings

Long term VBL rating by FrontPage users
4.3/5 (3 Ratings)

6 VBL share price target reports by brokerages below. See what is analyst's view on VBL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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VBL Share Price Target

VBL Share Price Target - Broker Reports - 2021

4-May-21
Price @ Call: 1000.55
Target: 1150
BUY
3-Jan-21
Price @ Call: 914.83
Target: 1100
BUY

VBL Share Price Target - Broker Reports - 2020

14-Dec-20
Price @ Call: 907.27
Target: 1005
BUY
12-Nov-20
Price @ Call: 726.61
Target: 831
HOLD
4-Nov-20
Price @ Call: 672.68
Target: 865
BUY
4-Aug-20
Price @ Call: 708.17
Target: 831
BUY
6-May-20
Price @ Call: 624.14
Target: 580
REDUCE
The company was witnessing stronger organic growth in the business before it was hit by lockdown across its operating countries due to Covid-19 pandemic. We believe unlike other FMCG companies, the company would be severely impacted by the lockdowns given manufacturing & supply chain has been completely derailed. Moreover, it also does not have A&P lever to reduce the cost at the time of crisis to protect margins. Though the management is confident of maintaining operating margins, we believe the recovery would be painful & prolonged.
... Read more
5-May-20
Price @ Call: 636.05
Target: 804
BUY
Although Varun Beverages Limited (VBL) performance in Q1CY20 was better than our estimates on topline/bottomline we note that Q2CY20 (~40% sales) could be severely impacted given the rapidly evolving situation on ground and sharp impact of 10 days lockdown on organic volumes which declined by 13.7% YoY in Q1CY20. However, outlook on profitability improved given lower RM prices (PET resin and sugar). For Q1CY20, VBL reported robust 280bps Gross Margins expansion to 58.8% (55.5% our estimate). EBITDA Margins stood at 16.2% largely in-line with our estimates. Reported PAT stood at Rs. 60cr up 53% YoY due to tax write back. From a long term perspective however we remain positive given VBLs execution capabilities, opportunity for share gains from newly acquired territories, margin improvement and relatively better balance sheet position. Although we cut estimates for CY20/21E on Revenue/PAT by 8%/5% and 7%/4% respectively we retain BUY recommendation with TP of Rs. 804/share continuing to value it at 13x EV/EBITDA.
... Read more

VBL Share Price Target - Broker Reports - 2019

6-Nov-19
Price @ Call: 748.27
Target: 805
BUY
We believe strong organic growth in the last couple of quarters allays concerns regarding the soft drink industry in India. Additionally, the company’s focus on healthier options would help drive incremental volumes and margins. As volume growth picks up in new territories and the company participates in the manufacturing segment of Tropicana, we expect revenue & earnings CAGR of 20.2% & 28.9% in CY18-21E, respectively. We value VBL at 35x CY21E earnings. We upgrade our recommendation to BUY with a revised target price of Rs 805/share.
... Read more
25-Sep-19
Price @ Call: 630.29
Target: 754
BUY
2-Aug-19
Price @ Call: 618.77
Target: 693
HOLD
We believe strong organic growth in the last couple of quarters allays concern regarding the soft drink industry in India. Additionally, thecompany’s focus towards healthier options would help drive incremental volumes and margins. As volume growth picks up in new territories and the company participates in the manufacturing segment of Tropicana, we expect revenue & earnings CAGR of 21.5% & 25.5% in CY18-21E respectively. However, the stock is richly valued at 12.5x EV/EBITDA on CY21E. Hence, we maintain HOLD with a target price of Rs 693/share.
... Read more
10-May-19
Price @ Call: 607.69
Target: 462.22
HOLD
We remain positive on VBL as it is continuously looking for newer territories to expand its base in untapped geographies. It remains a proxy play on the soft drink industry in India. We expect revenue and PAT to grow at a CAGR of 21.1% and 26%, respectively, in CY18-21E. As volume growth picks up in new territories and the company participates in the manufacturing segment of Tropicana, the EBITDA margin is expected to improve to 18.7% in CY21E. On earnings visibility and expected improvement in return ratios, we increase our target price to | 1040/share.
... Read more
21-Feb-19
Price @ Call: 525.67
Target: 382.22
HOLD
We remain positive on VBL as post acquisition it would be contributing more than 80% of the Pepsi’s volumes in India. Simultaneously, it would be able to sustain the volume growth by increasing contribution of juices from the upcoming facilities. However, the increasing debt & equity dilution would be a drag on return ratios in the near term. We maintain our target price at Rs 860/share with a HOLD rating on the stock.
... Read more

VBL Share Price Target - Broker Reports - 2018

26-Oct-18
Price @ Call: 503.49
Target: 382.22
BUY
10-Aug-18
Price @ Call: 502.95
Target: 382.22
BUY
4-May-18
Price @ Call: 475.71
Target: 373.33
BUY
3-May-18
Price @ Call: 454.26
Target: 326.67
BUY
13-Apr-18
Price @ Call: 652.7
Target: 750
BUY
23-Feb-18
Price @ Call: 633.35
Target: 765
BUY
19-Feb-18
Price @ Call: 652.2
Target: 710
BUY
19-Feb-18
Price @ Call: 652.2
Target: 840
BUY

VBL Share Price Target - Broker Reports - 2017

28-Nov-17
Price @ Call: 511.65
Target: 590
BUY
14-Nov-17
Price @ Call: 492
Target: 590
BUY
18-Aug-17
Price @ Call: 521.75
Target: 570
BUY
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  • VBL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3779.5
    Upside Target 2772.25
    Upside Target 1762.5
    Pivot755.25
    Downside Target 1745.5
    Downside Target 2738.25
    Downside Target 3728.5
  • VBL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3834.93
    Upside Target 2813.47
    Upside Target 1772.93
    Pivot751.47
    Downside Target 1710.93
    Downside Target 2689.47
    Downside Target 3648.93
  • VBL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,497.73
    Upside Target 21,337.87
    Upside Target 11,033.73
    Pivot873.87
    Downside Target 1569.73
    Downside Target 2409.87
    Downside Target 3105.73
  • VBL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3772.25
    Upside Target 2765.76
    Upside Target 1761.74
    Pivot755.25
    Downside Target 1748.76
    Downside Target 2744.74
    Downside Target 3738.25
  • VBL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3813.47
    Upside Target 2789.78
    Upside Target 1775.15
    Pivot751.47
    Downside Target 1727.78
    Downside Target 2713.15
    Downside Target 3689.47
  • VBL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,337.87
    Upside Target 21,160.62
    Upside Target 11,051.11
    Pivot873.87
    Downside Target 1696.62
    Downside Target 2587.11
    Downside Target 3409.87
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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