{"id":319388,"date":"2026-10-21T11:48:48","date_gmt":"2026-10-21T06:18:48","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=319388"},"modified":"2026-10-21T11:48:48","modified_gmt":"2026-10-21T06:18:48","slug":"beverage-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/","title":{"rendered":"4 Top Beverage Stocks to Watch for Future Multibagger Potential: Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Varun Beverages Rs 420.55. Tata Consumer Rs 966.50. Radico Khaitan Rs 4,435.50. CCL Products Rs 986.80. Market caps from Rs 14,463 crore to Rs 1.49 lakh crore. Data as of 20 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products are the 4 picks in this beverage stocks watchlist, with market caps between Rs 14,463 crore and Rs 1.49 lakh crore. Varun Beverages stands out for the fastest profit growth, 42.33% a year since CY21, while Tata Consumer offers 14.84% revenue growth in FY26. PE ratios run from 33.44 to 87.03, so compare each one with its industry PE before investing. All figures are as of 20 October 2026.<\/p>\n<\/p><\/div>\n<p>Beverage stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products meet that test, with market caps from Rs 14,463 crore to Rs 1.49 lakh crore and Varun Beverages offering the fastest profit growth, 42.33% a year since CY21. Soft drinks, premium spirits, tea and coffee together make beverages one of the steadiest consumer themes in India.<\/p>\n<p>This list covers listed beverage companies with rising profit and complete, verifiable financials, ranked by market capitalisation. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening beverage stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 20 October 2026 and are drawn from NSE and BSE data and company filings.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=beverage-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#What_Are_Beverage_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Beverage Stocks and Why Do They Attract Multibagger Interest?\">What Are Beverage Stocks and Why Do They Attract Multibagger Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Beverage_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"Beverage Stocks at a Glance: Price, Market Cap, PE and ROE\">Beverage Stocks at a Glance: Price, Market Cap, PE and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Varun_Beverages_4233_Profit_CAGR_Since_CY21\" title=\"Varun Beverages: 42.33% Profit CAGR Since CY21\">Varun Beverages: 42.33% Profit CAGR Since CY21<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Tata_Consumer_Quarterly_Profit_Up_2841\" title=\"Tata Consumer: Quarterly Profit Up 28.41%\">Tata Consumer: Quarterly Profit Up 28.41%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Radico_Khaitan_2488_Profit_CAGR_Since_FY22\" title=\"Radico Khaitan: 24.88% Profit CAGR Since FY22\">Radico Khaitan: 24.88% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#CCL_Products_Revenue_Up_4340_in_FY26\" title=\"CCL Products: Revenue Up 43.40% in FY26\">CCL Products: Revenue Up 43.40% in FY26<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Beverage_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Beverage Stocks: Financial Comparison on Growth and Margins\">Beverage Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\" title=\"Institutional Holding in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products\">Institutional Holding in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Beverage_Stocks\" title=\"Risks to Weigh in Beverage Stocks\">Risks to Weigh in Beverage Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Beverage_Stocks\" title=\"How to Choose Between Beverage Stocks\">How to Choose Between Beverage Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Beverage_Stocks_to_Watch\" title=\"Frequently Asked Questions on Beverage Stocks to Watch\">Frequently Asked Questions on Beverage Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Which_are_the_best_beverage_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best beverage stocks to watch for multibagger potential?\">Which are the best beverage stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Is_Radico_Khaitan_a_good_stock_for_long-term_investors\" title=\"Is Radico Khaitan a good stock for long-term investors?\">Is Radico Khaitan a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Can_Varun_Beverages_become_a_multibagger_from_here\" title=\"Can Varun Beverages become a multibagger from here?\">Can Varun Beverages become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\" title=\"What is the market cap of Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?\">What is the market cap of Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_beverage_stocks\" title=\"What are the risks of investing in beverage stocks?\">What are the risks of investing in beverage stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#Why_is_Tata_Consumer_trading_at_a_PE_of_5992\" title=\"Why is Tata Consumer trading at a PE of 59.92?\">Why is Tata Consumer trading at a PE of 59.92?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/beverage-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\" title=\"How much do institutions hold in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?\">How much do institutions hold in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Beverage_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Beverage Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beverage stocks are shares of listed companies that make and sell drinks, from soft drinks and spirits to tea and instant coffee. Their products are bought often, which gives them regular demand through the year.<\/p>\n<p>Rising incomes, a young population and a shift to branded and premium drinks support the category. Among beverage stocks, companies with wide distribution and growing profit are the ones investors compare in beverage stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Beverage_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>Beverage Stocks at a Glance: Price, Market Cap, PE and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are closing prices as of 20 October 2026. CCL Products has the lowest PE of the group at 33.44, while Radico Khaitan posts the highest return on equity at 18.23%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Debt to Equity<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/vbl\/varun-beverages-ltd-share-price-today\">Varun Beverages<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">420.55<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,49,439<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">43.83<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.68<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.51%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.13<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">381.00 to 555.80<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/tataconsum\/tata-consumer-products-ltd-share-price-today\">Tata Consumer Products<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">966.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">98,391<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">59.92<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35.10<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.08%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.13<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">945.00 to 1,282.70<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/radico\/radico-khaitan-ltd-share-price-today\">Radico Khaitan<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,435.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">61,233<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">87.03<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">54.95<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.23%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.15<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,500.00 to 4,747.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/ccl\/ccl-products-(india)-ltd-share-price-today\">CCL Products India<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">986.80<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14,463<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">33.44<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.20<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.55%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.56<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">818.75 to 1,242.20<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Varun_Beverages_4233_Profit_CAGR_Since_CY21\"><\/span><strong>Varun Beverages: 42.33% Profit CAGR Since CY21<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Varun Beverages is among the largest PepsiCo franchisees outside the United States, bottling and distributing beverages in India and abroad. It reported CY25 revenue of Rs 22,037.73 crore, up 9.48% year on year, and net profit of Rs 3,062.04 crore, up 16.24%. Net profit has compounded at 42.33% a year since CY21, while revenue has grown 25.47% a year. Operating margin was 24.40% in CY25. The debt-to-equity ratio is 0.13, which keeps interest costs low.<\/p>\n<p>In the June 2026 quarter, revenue rose 20.92% to Rs 8,754.95 crore and net profit grew 15.08% to Rs 1,525.36 crore. The share price has gained 257.59% over five years. Domestic institutions raised their holding from 11.79% in September 2025 to 16.34% in September 2026. The stock trades at a PE of 43.83 against an industry PE of 34.68, with a return on equity of 15.51%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tata_Consumer_Quarterly_Profit_Up_2841\"><\/span><strong>Tata Consumer: Quarterly Profit Up 28.41%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tata Consumer Products sells tea, coffee, salt and packaged foods under brands such as Tata Tea, Tetley, Tata Salt and Tata Sampann. It reported FY26 revenue of Rs 20,455.18 crore, up 14.84% year on year, and net profit of Rs 1,637.50 crore, up 18.63%. Net profit has compounded at 10.99% a year since FY22, while revenue has grown 12.96% a year. Operating margin was 14.47% in FY26. The debt-to-equity ratio is 0.13, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 59.92 against an industry PE of 35.10. In the June 2026 quarter, revenue rose 12.46% to Rs 5,420.82 crore and net profit grew 28.41% to Rs 444.86 crore. Domestic institutions raised their holding from 22.03% in June 2025 to 25.01% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Radico_Khaitan_2488_Profit_CAGR_Since_FY22\"><\/span><strong>Radico Khaitan: 24.88% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Radico Khaitan makes Indian-made foreign liquor and premium spirits, with brands including Magic Moments, 8PM and Rampur Single Malt. It reported FY26 revenue of Rs 6,062.27 crore, up 24.84% year on year, and net profit of Rs 604.48 crore, up 74.90%. Net profit has compounded at 24.88% a year since FY22, while revenue has grown 20.50% a year. Operating margin was 4.88% in FY26. The debt-to-equity ratio is 0.15, which keeps interest costs low.<\/p>\n<p>In the June 2026 quarter, revenue rose 10.44% to Rs 5,869.46 crore and net profit grew 75.91% to Rs 229.60 crore. The share price has gained 299.58% over five years and 51.47% over the past year. Domestic institutions raised their holding from 25.47% in September 2025 to 27.17% in September 2026. The stock trades at a PE of 87.03 against an industry PE of 54.95, with a return on equity of 18.23%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CCL_Products_Revenue_Up_4340_in_FY26\"><\/span><strong>CCL Products: Revenue Up 43.40% in FY26<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CCL Products India is one of the largest private-label and instant coffee makers in the world and exports to many countries. It reported FY26 revenue of Rs 4,465.80 crore, up 43.40% year on year, and net profit of Rs 388.11 crore, up 25.06%. Net profit has compounded at 17.39% a year since FY22, while revenue has grown 32.11% a year. Operating margin was 16.63% in FY26.<\/p>\n<p>The stock trades at a PE of 33.44 against an industry PE of 24.20, with a return on equity of 16.55%. In the September 2026 quarter, revenue rose 7.78% to Rs 1,215.99 crore and net profit grew 28.98% to Rs 130.09 crore. The share price has gained 145.27% over five years and 18.32% over the past year. Foreign investors raised their holding from 10.53% in September 2025 to 12.12% in September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Beverage_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Beverage Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these beverage stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Revenue CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Net Profit CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Operating Margin (Latest Quarter)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Varun Beverages<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22,037.73 (CY25)<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,062.04 (CY25)<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.48%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">25.47%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.33%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">28.24%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Tata Consumer<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20,455.18<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,637.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.84%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.96%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.99%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.88%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Radico Khaitan<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6,062.27<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">604.48<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.84%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.50%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.88%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.10%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">CCL Products<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,465.80<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">388.11<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">43.40%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">32.11%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.95%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these beverage stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\"><\/span><strong>Institutional Holding in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these beverage stocks alongside the promoter. The table uses the latest reported quarter for each. Radico Khaitan has the deepest institutional backing, with FII and DII together holding 46.60% as of September 2026. Domestic institutions increased their holding over the past year in Varun Beverages (from 11.79% to 16.34%), Tata Consumer (from 22.03% to 25.01%) and Radico Khaitan (from 25.47% to 27.17%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Varun Beverages<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">59.43%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.34%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.70%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Tata Consumer<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">33.83%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.08%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">25.01%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.08%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Radico Khaitan<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">40.17%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.43%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.17%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.23%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">CCL Products<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.16%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.12%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.41%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.31%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Beverage_Stocks\"><\/span><strong>Risks to Weigh in Beverage Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with beverage stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Weather and input costs affect volumes and margins.<\/li>\n<li>Some categories face state-level pricing rules.<\/li>\n<li><strong>Valuation:<\/strong> Tata Consumer trades at a PE of 59.92 against an industry PE of 35.10, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_Beverage_Stocks\"><\/span><strong>How to Choose Between Beverage Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from beverage stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.<\/li>\n<li>Compare each PE with the industry PE (24.20 to 54.95) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track volume growth, the operating margin and net profit growth in every quarterly result.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among beverage stocks, Varun Beverages stands out for the fastest profit growth, 42.33% a year since CY21, Tata Consumer for 14.84% revenue growth in FY26, Radico Khaitan for the highest return on equity at 18.23% and CCL Products for the lowest PE of the group at 33.44. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing beverage stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Beverage_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Beverage Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_beverage_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best beverage stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products are the 4 names this list highlights, with market caps of Rs 1,49,439 crore, Rs 98,391 crore, Rs 61,233 crore and Rs 14,463 crore respectively. Varun Beverages is notable for the fastest profit growth, 42.33% a year since CY21. Tata Consumer stands out for 14.84% revenue growth in FY26. Radico Khaitan offers the highest return on equity at 18.23%. CCL Products brings the lowest PE of the group at 33.44. These are watchlist names for beverage stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Radico_Khaitan_a_good_stock_for_long-term_investors\"><\/span><strong>Is Radico Khaitan a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Radico Khaitan has a return on equity of 18.23%, a PE of 87.03 against an industry PE of 54.95 and a market cap of Rs 61,233 crore. Net profit has compounded at 24.88% a year since FY22, and FY26 revenue rose 24.84% while June 2026 quarter net profit grew 75.91%. Long-term returns in beverage stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_Varun_Beverages_become_a_multibagger_from_here\"><\/span><strong>Can Varun Beverages become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages has already gained 257.59% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in beverage stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 42.33% a year since CY21, and CY25 revenue rose 9.48%. At a PE of 43.83 against an industry PE of 34.68, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\"><\/span><strong>What is the market cap of Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 20 October 2026, Varun Beverages has a market cap of Rs 1,49,439 crore, Tata Consumer has a market cap of Rs 98,391 crore, Radico Khaitan has a market cap of Rs 61,233 crore and CCL Products has a market cap of Rs 14,463 crore. Varun Beverages is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on beverage stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_beverage_stocks\"><\/span><strong>What are the risks of investing in beverage stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are raw material costs, weather, taxes and valuations. Companies with strong brands and wide distribution handle these better. Tata Consumer trades at a PE of 59.92 against an industry PE of 35.10, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Tata_Consumer_trading_at_a_PE_of_5992\"><\/span><strong>Why is Tata Consumer trading at a PE of 59.92?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Tata Consumer&#8217;s PE of 59.92 compares with an industry PE of 35.10. The market is paying a premium for profit growth of 10.99% a year since FY22 and latest-quarter profit growth of 28.41%, which also means the stock is more sensitive if growth slows. Investors in beverage stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Varun_Beverages_Tata_Consumer_Radico_Khaitan_and_CCL_Products\"><\/span><strong>How much do institutions hold in Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 33.87% of Varun Beverages (17.53% and 16.34%), 45.09% of Tata Consumer (20.08% and 25.01%), 46.60% of Radico Khaitan (19.43% and 27.17%) and 33.53% of CCL Products (12.12% and 21.41%). Rising institutional holding is a useful signal in beverage stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best beverage stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages, Tata Consumer, Radico Khaitan and CCL Products are the 4 names this list highlights, with market caps of Rs 1,49,439 crore, Rs 98,391 crore, Rs 61,233 crore and Rs 14,463 crore respectively. Varun Beverages is notable for the fastest profit growth, 42.33% a year since CY21. Tata Consumer stands out for 14.84% revenue growth in FY26. Radico Khaitan offers the highest return on equity at 18.23%. CCL Products brings the lowest PE of the group at 33.44. 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