Reliance Consumer hits it big in 1st year which took rivals decades; co logs sales of Rs 3k cr in FY24
Reliance Industries' fast-moving consumer goods (FMCG) company clocked ₹3,000 crore sales in FY24, its first full year of operations, with beverage brand Campa Cola alone contributing ₹400 crore, said a senior industry executive aware of the plans.
To put in perspective Reliance Consumer Products' (RCPL) performance, Emami with five decades of operations reported ₹3,400 crore sales in FY23, while oral care market leader Colgate-Palmolive (India) posted revenue of ₹5,226 crore the same year which marked its eighth decade of operations.
Listed FMCG companies are still to declare financial results for FY24. RCPL formally began operations on November 30, 2022. RCPL, housing brands such as Campa Cola and Independence, aims to continue the sales growth momentum propelled by staples and beverages.
The company may also raise ₹500-₹700 crore this fiscal from its parent company to set up bottling plants for Campa Cola to boost capacity amid supply constraints.
RCPL's parent is Reliance Retail Ventures, also the holding company of the group's retail business. RCPL wants the new bottling plants to be based strategically so they can cater to consumers across the country including kirana stores, the executive said requesting anonymity.
He said Reliance Consumer Products' FY24 revenue includes ₹1,000 crore earned from more than 200,000 kirana stores where it sells its products and the remainder from Reliance Retail's network of grocery stores. This financial year, the company has set an internal target of ₹5,000 crore
