PepsiCo India reports Rs 883 crore profit in CY24 after fiscal year switch – Industry News

Food and beverage major PepsiCo India reported a consolidated net profit and revenue of Rs 883.39 crore and Rs 9,096.62 crore, respectively, for the calendar year 2024 (CY24), marking the first full-year of its fiscal year switch, according to its latest regulatory filings accessed by Tofler. The company had transitioned from the April–March financial year to a January–December reporting format in 2023.

For that year (2023), the company had reported consolidated revenue of Rs 5,954.16 crore and net profit of Rs 217.26 crore for the period of nine-months from April to December. Rival Coca-Cola India, which follows an April-March accounting year is yet to report its numbers for FY25. In FY24, Coca-Cola India saw consolidated revenue grow 4.24% to Rs 4,713 crore, while profit fell 41.82% to Rs 420 crore, according to regulatory filings.

Apart from Coca-Cola, some of PepsiCo’s other rivals include ITC, Bikaji and Haldiram’s in the packaged foods segment. In CY24, for instance, PepsiCo’s food business contributed to 75% share in consolidated topline, with revenue at Rs 6,889.66 crore. Brands include Kurkure, Lay’s, Doritos, and Quaker. The beverage segment, including fizzy drinks and juices under brands like Pepsi, 7UP, Slice, Tropicana, and Gatorade, contributed Rs 2,206.96 crore to overall topline.

“Over the past 12 months, the FMCG industry in India has shown remarkable resilience in the face of a challenging external environment,” Jagrut Kotecha, CEO of PepsiCo India & South Asia, said in a statement.

“In this context, PepsiCo India’s performance in 2024 across food and beverage categories is a testament to its dynamic marketing, marketplace execution, and consumer-centric innovation,” he added.

Unlike Coca-Cola India, which manages half its bottling operations in-house (mainly in the south and west regions) under sister concern Hindustan Coca-Cola Beverages and has franchise bottlers managing the other half (mainly in the north and east), PepsiCo India has outsourced all its bottling operations to partner Varun Beverages, among its key bottlers outside of the US.

In CY24, Varun Beverages reported consolidated revenue of Rs 20,481.32 crore and net profit of Rs 3,433 crore, its financial results shared with exchanges showed. PepsiCo India is not a listed company.

PepsiCo’s global management has consistently pointed to India’s growth potential, saying that it is stepping up investments in the country as it seeks to leverage its demographic dividend.

“We continue to see a lot of growth in many parts of our AMESA (Africa, Middle East and South Asia) region. In particular, India is a big growth space for us and it is an investment area for sure,” Ramon Laguarta, chairman and CEO of PepsiCo, said in recent investor call.

In 2024, PepsiCo India announced an investment of Rs 1,266 crore to establish a flavour manufacturing facility in Ujjain, Madhya Pradesh. The facility it set to begin operations in the first quarter of 2026. The company is also set to open a new plant in Tamil Nadu.

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