Varun Beverages announces Q4 & 2020 Financial Results Posted On: 2021-02-16 01:27:12 (Time Zone: Arizona, USA) Varun Beverages Limited (BSE: 540180, NSE: VBL), a key player in the beverage industry, announced its financial results for the fourth quarter and year ended December 31, 2020. Financial Performance Highlights* Performance Review for Q4 2020 vs. Q4 2019 - Revenue from operations (net of excise / GST) grew by 9.1% YoY to Rs. 13,308.9 million - Total sales volumes (organic) were up 5.6% YoY at 87.1 million cases in Q4 2020 - EBITDA increased by 48.8% to Rs. 1,722.3 million from Rs. 1,157.4 million - EBITDA margins improved by 346 bps in Q4 2020 on account of sustainable cost-optimization measures - Gross margins improved by 472 bps during Q4 2020 primarily due to favorable PET chips prices (~12.5% decline) and higher mix of CSD