Coca-Cola's bottling arm in India, Hindustan Coca-Cola Beverages Pvt Ltd. (HCCB), reported revenues of ₹12,840 crore in FY23, up 40 percent over last year, as per data sourced from business intelligence platform Tofler. The company, which manufactures, packages, sells, and distributes beverages in India saw its profit grow a whopping 116 percent in FY23 to ₹809 crore as against ₹377.1 crore in FY22.
In a note in its filings with the Registrar of Companies (RoC), the company said that despite a challenging macroeconomic environment, marked by geopolitical uncertainties, high commodity inflation and tepid market growth, it delivered a year of strong results.
"However, your company’s agility in seizing market opportunities, focus on execution excellence and proactive strategic interventions enabled it to post strong performance across all operating segments," it added.
HCCB says it expanded its footprint through strategic investments in the entry pack segments like 150ml Tetra, 200ml RGB as well as 250ml PET through new lines, glass bottles as well as market execution in a bid to expand its consumer base.
HCCB also launched brand 'Charged' in 250ml PET and 'Can' under the Sparkling category, which it says was one of the biggest launches in recent times.
In terms of new product launches, it also launched products in stills category under the flagship brand Maaza called Maaza Aam Panna as well as a glucose and electrolyte-based product called Limca Sportz. "Initial feedback for both the products from Trade and Consumer is very encouraging," it added.
HCCB says it has also made an additional investment of ₹13,046.45 million in property plant and equipment to build HCCB into a “Total Beverage Company”.
"Your Company is investing in digital technologies for efficient market servicing and improving reach. Relentless focus on cost optimisation and productivity across functions aided in partially mitigating the high inflationary environment," it added.
Going forward, HCCB says the long-term outlook for beverage business in India is very positive on the back of rising disposable incomes and consumer awareness, low levels of penetration of consumer goods, favourable demographics, increasing urbanisation and growing preference for trusted brands are firmly in place.
"Your company will continue to focus on the new opportunities like E-Commerce, Grocery, Pharmacy etc. to grow organically and inorganically in line with its vision and mission. The company will continue to invest in capabilities in line with market demand and innovation for scaling up the manufacturing capacities, expansion of chilling equipment capacity and developing IT & people capabilities," HCCB added.
(Edited by : Sangam Singh)
First Published: Oct 30, 2023 10:44 PM IST
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