Integrated Filing-Governance



General information about company

Scrip Code 540180
NSE Symbol VBL
MSEI Symbol NOTLISTED
ISIN INE200M01039
Name of the entity VARUN BEVERAGES LIMITED
Date of start of financial year 01-Jan-2026
Date of end of financial year 31-Dec-2026
Reporting Quarter Quarterly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? Yes
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? Yes
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? No
Reason For Part E Of Annexure I Disclosure Of Updates To Ongoing Tax Litigations Or Disputes Is Not Applicable To The Entity There were no updates on ongoing tax litigations or disputes in terms of provisions of Para B(8) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 during this reporting period.
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity?
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 100 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID v00412
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory As per Reg. 26 of SEBI LODR, no. of post of Chairperson in Audit/Stakeholder Committee held includes public limited companies, whether listed or not. The Shareholders of the Company at their 31st Annual General Meeting held on 1 April 2026 approved the continuation of directorship of Mr. Abhiram Seth (DIN: 00176144) as a Non-Executive Independent Director in terms of Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (who will attain 75 years of age on December 8, 2026 till his current tenure of appointment i.e. upto May 1, 2028).
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO No Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. Ravi Kant Jaipuria 00003668 Non-Executive - Non Independent Director Chairperson related to Promoter 28-Nov-1954 No Active NA 16-Jun-1995 3 0 1 0
2 Mr. Varun Jaipuria 02465412 Executive Director Not Applicable 10-Nov-1987 No Active NA 01-Jan-2009 01-Nov-2024 2 0 0 0
3 Mr. Raj Pal Gandhi 00003649 Executive Director Not Applicable 07-Jun-1957 No Active NA 21-Oct-2004 01-Nov-2024 2 0 5 0
4 Mr. Rajinder Jeet Singh Bagga 08440479 Executive Director Not Applicable 05-Jul-1963 No Active NA 02-May-2019 02-May-2024 1 0 0 0
5 Mr. Naresh Trehan 00012148 Non-Executive - Non Independent Director Not Applicable 12-Aug-1946 No Active Yes 03-Apr-2024 21-Apr-2024 2 0 0 0
6 Mr. Ravi Gupta 00023487 Non-Executive - Independent Director Not Applicable 21-Oct-1954 No Active NA 19-Mar-2018 19-Mar-2023 96.13 4 4 8 5
7 Mr. Abhiram Seth 00176144 Non-Executive - Independent Director Not Applicable 09-Dec-1951 No Active NA 02-May-2023 34.3 2 2 3 2
8 Mr. Anil Kumar Sondhi 00696535 Non-Executive - Independent Director Not Applicable 31-Jan-1956 No Active NA 02-May-2023 34.3 1 1 0 0
9 Ms. Sita Khosla 01001803 Non-Executive - Independent Director Not Applicable 01-May-1962 No Active NA 16-Feb-2018 16-Feb-2023 97.13 1 1 2 1
10 Ms. Rashmi Dhariwal 00337814 Non-Executive - Independent Director Not Applicable 02-Jun-1956 No Active NA 19-Mar-2018 19-Mar-2023 96.13 3 3 10 2



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory .To comply with Regulation 21 of SEBI (LODR) (Amendment) Regulations, 2018 the Board of Directors of the Company have renamed Audit Committee as Audit and Risk Management Committee w.e.f August 9, 2018.



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00023487 Ravi Gupta Non-Executive - Independent Director Chairperson 19-Mar-2018
2 00337814 Rashmi Dhariwal Non-Executive - Independent Director Member 19-Mar-2018
3 01001803 Sita Khosla Non-Executive - Independent Director Member 30-Oct-2019



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00337814 Rashmi Dhariwal Non-Executive - Independent Director Chairperson 19-Mar-2018
2 00003668 Ravi Kant Jaipuria Non-Executive - Non Independent Director Member 27-Apr-2016
3 00023487 Ravi Gupta Non-Executive - Independent Director Member 19-Mar-2018



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 01001803 Sita Khosla Non-Executive - Independent Director Chairperson 19-Mar-2018
2 00003649 Raj Pal Gandhi Executive Director Member 28-Mar-2016
3 00337814 Rashmi Dhariwal Non-Executive - Independent Director Member 07-Feb-2019



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00023487 Ravi Gupta ID Chairperson 09-Aug-2018
2 00337814 Rashmi Dhariwal ID Member 09-Aug-2018
3 01001803 Sita Khosla ID Member 30-Oct-2019



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 29-Oct-2025 Yes 10 9 4
2 21-Dec-2025 52 Yes 10 9 4
3 03-Feb-2026 43 Yes 10 10 5



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 29-Oct-2025 Yes 3 3 3 0
2 Audit Committee 03-Feb-2026 96 Yes 3 3 3 0
3 Risk Management Committee 29-Oct-2025 Yes 3 3 3 0
4 Risk Management Committee 03-Feb-2026 96 Yes 3 3 3 0
5 Nomination and remuneration committee 29-Oct-2025 Yes 3 3 2 0
6 Nomination and remuneration committee 03-Feb-2026 96 Yes 3 3 2 0
7 Stakeholders Relationship Committee 03-Feb-2026 Yes 3 3 2 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Ravi Batra
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Signatory Details
Name of signatory Ravi Batra
Designation of person Company Secretary and Compliance Officer
Place Gurugram
Date 20-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 0
No. of investor complaints disposed off during the Quarter 0
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies Note to Entry No. 1: Acquisition of additional 23% Equity Share Capital of Jager Renewables Two Private Limited (a special purpose vehicle engaged to generate & supply solar power to consumers in the state of Rajasthan) to obtain solar power for captive consumption. Upon consummation of the above-mentioned transaction, Company holds 49% of Equity Share Capital of Jager Renewables Two Private Limited. Note to Entry No. 2 - The Beverage Company Proprietary Limited, subsidiary in South Africa, acquired 100% Share Capital of Twizza Proprietary Limited (a company incorporated under the laws of South Africa) and accordingly it become step down subsidiary of the Company.
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter
1 Jager Renewables Two Private Limited 11-Mar-2026 26.00 23.00 49.00
2 Twizza Proprietary Limited 18-Mar-2026 0 100 100


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible
1 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 06-Jan-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
2 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 09-Jan-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
3 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 13-Jan-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
4 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 15-Jan-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
5 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 27-Jan-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
6 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 09-Feb-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
7 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 12-Feb-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
8 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 04-Feb-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
9 Central Board of Indirect Taxes & Customs Fine of Rs. 10,000 for delayed filing of Bill of Entry 21-Feb-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
10 Central Board of Indirect Taxes & Customs Fine of Rs. 10,000 for delayed filing of Bill of Entry 21-Feb-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
11 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed filing of Bill of Entry 25-Mar-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company
12 Central Board of Indirect Taxes & Customs Fine of Rs. 5,000 for delayed intimation of import of goods in India 27-Mar-2026 Refer Nature and details of the action(s) taken or order(s) passed There is no material impact on financial, operational, or other activities of the Company


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute