PepsiCo Financial News

Varun Beverages reported a 26% year-on-year (YoY) increase in its Q2 CY24 profit after tax (PAT), reaching Rs 1,262 crore. Revenue from operations stood at Rs 7,197 crore, up 28% YoY. In the corresponding quarter of the previous year, the company's revenue was Rs 5,611.4 crore. For the half-year ending June 2024, revenue showed a 21% YoY growth.

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Varun Beverages (VBL), PepsiCo's bottling franchise partner, will set up manufacturing units in Zimbabwe and Zambia with an investment of $7 million (close to ₹60 crore), the company said in a regulatory filing on Monday. VBL said two of its subsidiaries plan to enter into an agreement with PepsiCo to manufacture, distribute and sell snacks brand Simba Munchiez in Zimbabwe and Zambia. These subsidiaries are VFZ Varun Foods (Zimbabwe) (VFZ) and Varun Beverages (Zambia) (VBZ).

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries — VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added.

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PepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks

Pepsi and Coca-Cola, a staple of countless Indian television advertisements over the decades, seems set to spill over into the Indian stock markets. Ravi Jaipuria, chairman of RJ Group, began his career as a vendor for Coca-Cola before switching allegiance to Pepsi in the 1990s. His group's flagship company, Varun Beverages, now stands as the largest bottler of PepsiCo's beverages globally, outside the US.

investing $300 million to acquire a majority stake in renewable energy (RE) firm Fourth Partner Energy, two people aware of the development said.

PepsiCo India is seeking to enhance the livelihood prospects for 1 million women in the country by 2026 under an initiative that focuses on sustainable development and gender equality, the beverages and packaged foods company said. It is looking at doing this through a combination of upskilling, awareness building and by offering job opportunities. The company has named this initiative as RevolutioNari, and is currently looking at partnering with other companies for this project.

Mint. “Over the last 3-4 years, we have upped the number of women in the sales and marketing division from 5-6% to 20%."The program, called ‘RevolutioNari–A Revolution for the Nari’, is aimed at empowering 1 million women nationwide, in partnership with a consortium of organizations and spanning 1,000 days, PepsiCo said in a statement.In the first phase of the programme, PepsiCo India will focus on undergraduate women in multiple disciplines, including science, technology, engineering, and mathematics (STEM), and agriculture.

Coca-Cola India has sounded out the promoters of at least four top Indian business houses — including the Bhartia family that owns the Jubilant Group running the Domino's pizza chain, and the Burmans of Dabur — to sell a significant minority stake in its wholly owned bottling subsidiary, Hindustan Coca-Cola Beverages (HCCB), executives aware of the developments said. The Parekh family of Pidilite Industries, makers of the iconic adhesive brand Fevicol, M-Seal and Dr Fixit, and the promoter family of Asian Paints have also been approached for a potential $800 million to $1 billion investment via their respective family offices. Some of those approached are also exploring if they would route the proposed investments through one of their group companies. Jubilant Foodworks, India's largest food services company, for example is already in the consumer business and has the exclusive franchise for Domino's Pizza and Dunkin' Donuts and Popeyes in India. The company also owns the Domino's franchise in five other markets across Asia and has acquired Coffy, a leading coffee retailer of Turkey.

low-salt, low-sugar and nutrition-fortified packaged food with sales of such products having risen in the last five years, according to the latest data from companies, market researchers and the government. This reflects an uptick in healthy eating trends as well as packaged food companies working on improving taste, the reason why sales of such items had failed to gain traction initially. Data show urban India is leading the shift toward healthier food, even though it has also picked up pace in rural areas, where household expenditure on staples such as salt, sugar and edible oil has come down. High levels of sugar, salt and fat in processed goods are seen as a concern amid rising diabetes, obesity and cardiac issues in India and elsewhere. PepsiCo's bottling and distribution company Varun Beverages told analysts last month that 46% of its consolidated sales volumes comes from low-sugar or no-sugar products, which aligns with consumer trends.

At Darshan Super Market in Santacruz east, Mumbai, the steady stream of customers for PepsiCo India’s Sting energy drink is telling. In a span of half of an hour, at least 10 people, between 18 and 35 years of age, come asking for the drink. Darshan, the owner, doesn’t disappoint. His fridge is packed with the product.

CocaCola said demand from in-home and out-of-home consumption have skyrocketed in the east, north, and central India.Anticipating a surge, the companies kept inventory ready and are ensuring that the products are available for consumers across retail platforms, including e-commerce."With temperatures soaring across the country, consumers are looking for refreshing and hydrating beverages to beat the heat this summer," a PepsiCo India spokesperson said.The company, which has beverage brands such as 7UP, Nimbooz, Pepsi, Slice, Mountain Dew, Gatorade, and Sting, is ensuring availability of its products during the surge."Further, given the surge in demand, we are ensuring that our products are available across all retail and e-commerce platforms, catering to both in-home and out-of-home demand, making it easier for everyone to stay cool and refreshed during the hottest months of the year," he said.Coca-Cola India said as the summer season reaches its peak, the Indian beverage market has gained significant momentum.The maker of Coke, ThumsUP, Maaza, Sprite, and Minute Maid has been witnessing consistent growth in terms of sales."With a steady rise in demand, we expect to remain bullish in our sparkling, hydration and juice segments, refreshing consumers with our carefully curated beverages for life portfolio," said a Coca-Cola India spokesperson."With a surge in both, in-home and out-of-home consumption, our endeavour is to continue scaling the distribution through traditional as well as newer emerging channels.Havmor Ice Cream -- now part of South Korean confectionery company LOTTE Wellfood Co -- said it has increased production as the demand for the year has surpassed last year's."Last year, we witnessed one of the warmest

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Starbucks India-origin CEO Laxman Narasimhan shared a heartwarming post on LinkedIn about his mother’s influence on his life. She was a lighthouse for me despite the many rocks that life doles out. «I am who I am and where I am because of her and because of my family. It’s a big void. She lives on inside me. God bless her, and God bless us all. Mothers do incredible things. It’s my first Mother’s Day without her. Celebrate all Mom’s on this Mother’s Day in the United States. They make us special,» he said in the post. «She was the backbone of our family despite having lost 2 kids and a husband by the age of 48. She instead devoted her life to children- as a kindergarten teacher of many,» he said. «She loved America- and wish she had come here when she was younger. Never once did she complain about all of this- all may be once, when I was upset with her that she had not posted my Harvard application. She read in a book that the college was too competitive and she did not want me there. She was relieved when Harvard called me to speak there once. She celebrated like I had been admitted there and felt less guilt then,» he said.

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₹20 for a 250ml bottle, it is the country’s first affordable energy drink. It is also low on sugar—6.8gm to Sprite’s 9.5gm and Red Bull’s 11gm per 100ml of serving. However, its relatively high caffeine—72mg—acts as a stimulant and makes it edgy.

PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages