Varun Beverages has informed that the company welcomes the recent rationalization of Corporate Tax Rates and believes that this provides an excellent impetus to drive economic growth rates in India. It looks forward to the future with excitement and intend to strengthen its growth plans in line with increasing economic activity and demand environment. With regard to the increase in GST rates for caffeinated drinks, the effect on the company is expected to be minimal as the incremental volumes that will come under the higher GST bracket was approximately 0.7 million cases out of 340 million cases of sales volume based upon CY 2018. The corresponding volume of H1 of CY2019 is 0.6 million cases out of 285.8 million cases.
The above information is a part of company’s filings submitted to BSE.
