Varun Beverages shares fall 5% as Q2 margins shrink after Twizza acquisition in South Africa; net profit rises 15%

Varun Beverages shares fell 5% after the Pepsi bottler reported a 76-basis-point contraction in Q2 CY2026 EBITDA margin to 27.7%, weighed down by the consolidation of South Africa's Twizza business. Despite the margin pressure, revenue from operations rose 20.4% year-on-year to Rs 8,451.23 crore, driven by strong volume growth across domestic and international markets.