Foods and beverages major PepsiCo India Holdings has registered a a multi-fold jump in its net profit at Rs 255 crore in financial year 2022-23 (FY23). PepsiCo India had posted a profit of Rs 28 crore a year ago, according to the company’s annual report filed with the Registrar of Companies (RoC) and a detailed financial analysis sourced from business intelligence platform, Tofler .
The beverage company's total operating revenue was up by 28.7 percent to Rs 8,031 crore on the back of higher sales of both food and beverages. The same was Rs 6,240 crore a year earlier.
Operating profit, calcumated as EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at Rs 748.78 crore as against Rs 349 crore in FY22.
PepsiCo India’s portfolio consists of brands such as Mountain Dew, Pepsi, Sting, Lay’s, Kurkure and Doritos. Its carbonated beverages are produced, bottled and distributed by Varun Beverages. Nearly 90 percent of Pepsi volumes for India come from Varun Beverages — their bottler.
According to reports, the company said it will continue to focus on the strategic growth path and is looking to set up its fifth snacks plant in Assam.
PepsiCo has a nice combination of good pricing, which seems to be holding pretty well and okay volumes that is translating into very solid results, Markus Hansen, a portfolio manager at Vontobel Quality Growth that holds 3.09 percent of PepsiCo had said earlier in July this year.
PepsiCo has been in India from 1989 and in the mid-1990s acquired Duke and Sons, which brought into the fold the Duke’s brands, known for their Lemonade and Mangola offerings. At the time of the deal, Duke’s was a big name in western India and PepsiCo, post the buyout, phased out the brands in 2004.
First Published: Aug 9, 2023 2:17 PM IST
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