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VBL - Fundamental Analysis: Financial Health & Valuation

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Rating: 4.1

Last Updated Time : 02 Feb 26, 01:19 pm

Fundamental Rating: 4.1

Stock Code VBL Market Cap 1,58,784 Cr. Current Price 469 ₹ High / Low 593 ₹
Stock P/E 60.5 Book Value 53.4 ₹ Dividend Yield 0.21 % ROCE 23.8 %
ROE 20.1 % Face Value 2.00 ₹ DMA 50 480 ₹ DMA 200 489 ₹
Chg in FII Hold -1.62 % Chg in DII Hold 1.78 % PAT Qtr 577 Cr. PAT Prev Qtr 1,160 Cr.
RSI 41.0 MACD -3.75 Volume 26,18,877 Avg Vol 1Wk 59,56,542
Low price 419 ₹ High price 593 ₹ PEG Ratio 0.90 Debt to equity 0.02
52w Index 28.6 % Qtr Profit Var 17.3 % EPS 7.76 ₹ Industry PE 45.4

📊 Core Financials

  • Revenue & Profitability: Quarterly PAT dropped from 1,160 Cr. to 577 Cr., showing sequential weakness, though YoY profit variation is positive at 17.3%.
  • Margins & Returns: Strong ROCE (23.8%) and ROE (20.1%) highlight efficient capital usage and profitability.
  • Debt Ratios: Debt-to-equity at 0.02 indicates negligible leverage, ensuring financial stability.
  • Cash Flows: Consistent profitability and low debt suggest healthy operating cash flows.

💹 Valuation Indicators

  • P/E Ratio: 60.5 vs industry average of 45.4 → trades at a premium.
  • P/B Ratio: Current Price / Book Value ≈ 8.8 → significantly above fair value.
  • PEG Ratio: 0.90 → indicates valuation is reasonable relative to growth.
  • Intrinsic Value: Current price (469 ₹) appears stretched compared to book value, but justified by strong returns.

🏢 Business Model & Competitive Advantage

  • Leading beverage bottler with exclusive franchise rights, ensuring strong market positioning.
  • High efficiency ratios (ROCE, ROE) provide competitive edge.
  • Low debt enhances resilience against market volatility.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between 440 ₹ – 460 ₹, near support levels and below DMA 50.
  • Long-Term Holding: Suitable for growth-oriented investors; strong fundamentals justify holding despite premium valuation.

✅ Positive

  • High ROCE and ROE indicating strong efficiency.
  • Low debt-to-equity ratio ensures financial safety.
  • DII holdings increased (+1.78%), reflecting domestic institutional confidence.

⚠️ Limitation

  • Premium valuation compared to industry peers.
  • Sequential PAT decline from 1,160 Cr. to 577 Cr. shows earnings pressure.
  • FII holdings decreased (-1.62%), showing cautious foreign sentiment.

📉 Company Negative News

  • Stock trading below both 50 DMA (480 ₹) and 200 DMA (489 ₹), indicating weak momentum.
  • RSI at 41.0 and negative MACD (-3.75) suggest bearish technical outlook.

📈 Company Positive News

  • Quarterly profit variation of 17.3% indicates YoY growth despite sequential decline.
  • Strong domestic institutional inflows support confidence in fundamentals.

🏭 Industry

  • Industry P/E at 45.4 indicates sector trades at lower multiples.
  • Beverage sector benefits from rising consumption and brand loyalty.
  • VBL commands premium due to franchise rights and strong profitability.

🔎 Conclusion

VBL demonstrates strong fundamentals with high efficiency and low debt, but trades at a premium compared to industry peers. Entry is advisable near 440 ₹ – 460 ₹ for long-term investors, with staggered accumulation to mitigate valuation risks. Overall, the company remains financially healthy and strategically positioned, though short-term technicals suggest caution.

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