Multibagger Large cap stock sets record date for stock split; Check the details 

There were negative sentiments around the stocks of Varun Beverages Limited which closed in the red at Rs 1,647.65, falling nearly 2.4 percent as compared to the previous closing price of Rs 1,686.95. The company has a market capitalization of over Rs 1.07 Lakh crores. 

Keeping a purview of one year, the stock has been successful in delivering multibagger returns of around 122 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 2.22 Lakhs within a period of one year. 

The stock price went down today after it recently published a filing intimating June 15th, 2023 as the record date for the stock split in the ratio of 1:2 which means a split of one equity share having a face value of Rs 10 into two equity shares having a face value of Rs 5. 

The same has been approved by the company’s shareholders via a postal ballot on June 2nd, 2023. 

The latest financial results of the company for FY22-23 exhibit an operating revenue of Rs 3,953 crores during Q4FY22-23, as compared to the revenues of Rs 2,257 crores in the previous quarter. Moreover, the net profits, keeping the timeframe the same, went up from Rs 82 crores during Q3FY22-23 to Rs 439 crores in Q4FY22-23 representing an increase of 435 percent. 

The recent shareholding data of the company shows that Promoters of the company hold a 63.9 percent stake, and Foreign Institutional Investors (FIIs) hold a 26 percent stake in the company. 

Varun Beverages Limited is engaged in the manufacture, sale, and distribution of beverages under the ‘Pepsi’ brand in pre-defined territories of India, Nepal, etc. The firm generates a majority of its revenues from domestic operations within India. Some of its brands include Mountain Dew, Tropicana Slice, etc. 

Written by Amit Madnani

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