PepsiCo India reported a strong financial performance for the calendar year 2024, posting ₹8,877 crore in revenue and ₹883.4 crore in profit after tax. This reflects a shift from the financial year to the calendar year. The company continues to invest heavily in India, underscoring its growth ambitions in the country. PepsiCo India competes with major players like Coca-Cola and ITC in the food and beverage sector, with bottling managed by Varun Beverages, its largest global franchisee.
PepsiCo India, a leading multinational food and beverage company, has reported consolidated revenue of ₹8,877 crore and a profit after tax of ₹883.4 crore for the 12 months ending December 31, 2024. This latest financial update marks a transition from its previous reporting based on the financial year (April-March) to the calendar year.
The company’s prior nine-month filing, covering April 2023 to December 2023, recorded ₹5,954.16 crore in revenue and ₹217.26 crore in profit. The current figures are not directly comparable due to the change in reporting periods.
PepsiCo India operates in a highly competitive market alongside rivals such as Coca-Cola, ITC, Bikaji, and Haldiram’s. The company sells popular beverage brands like Pepsi and Mirinda, along with packaged foods including Lay’s chips and Quaker oats. Its bottling operations in India are managed by Varun Beverages, the largest PepsiCo franchisee worldwide, which operates across India and several other countries.
In a statement, PepsiCo India emphasized that its strong performance was driven by dynamic marketing, effective marketplace execution, and consumer-centric innovation. The company also highlighted continued investments to expand capacity and meet rising consumer demand.
Despite inflationary pressures and a slowdown in urban consumption, the FMCG sector in India has remained resilient. Our 2024 results showcase the strength of our business model and the dedication of our teams, setting a strong foundation for ambitious growth over the next five years.”
Jagrut Kotecha, CEO of PepsiCo India & South Asia
Kaushik Mitra, Vice President and CFO of PepsiCo India and South Asia, pointed out that the improved profit margins across recent reporting periods reflect the company’s solid market momentum and operational efficiency.
PepsiCo’s global management continues to regard India as a key market for investment. In 2024, PepsiCo India announced a ₹1,266 crore investment to establish a flavor manufacturing facility in Ujjain, Madhya Pradesh, expected to begin operations in early 2026. The company is also planning to open a new plant in Tamil Nadu.
For context, rival Coca-Cola India reported ₹4,713 crore in revenue last fiscal year with a significant decline in profit. The packaged foods market in India is estimated at ₹3.6 trillion, while the carbonated soft drinks segment generated $18.25 billion in revenue in 2022, according to economic think tank ICRIER.
Varun Beverages, PepsiCo’s largest bottling partner, recorded revenue of ₹20,481 crore and a net profit of ₹3,433 crore in calendar year 2024.
