Companies

PepsiCo India reports high single digit organic revenue growth in Q4

Meenakshi Verma Ambwani New Delhi | Updated on February 11, 2021

Snacks and beverage major PepsiCo on Thursday said it recorded a high single-digit organic revenue growth in India in the October-December period in 2020.

Commenting on the company’s performance in international markets, Ramon Laguarta, Chairman and CEO, PepsiCo said: “Our fourth quarter international growth featured double-digit organic revenue growth in Brazil, high-single digit growth in China, India, Australia and Germany, and mid-single digit growth in the U.K. and Russia.”

In his remarks on the company’s fourth quarter and full year 2020 earnings, he added, “For beverages, we gained share in China, India, the UK, Germany, Egypt and Thailand within the year.”

However, in its annual report for the fiscal year ended December 26, 2020, the company stated that India reported a double-digit decline in terms of beverage unit volume. The company added that in terms of snack unit volume, India recorded low-single-digit growth.

Talking about the annual business performance of Africa, the Middle East and South Asia (AMESA) region, the company stated, “Beverage unit volume declined 5 per cent, primarily reflecting a double-digit decline in India and a high-single digit decline in Pakistan, partially offset by slight growth in the Middle East and low-single-digit growth in Nigeria.”

The company said that the pandemic contributed to a decrease in consumer demand, which had a negative impact on beverage unit volume performance.

After a washout summer season due to covid-induced lockdown in the country last year, beverage majors are betting big on the upcoming summer season.

In a strategic move, PepsiCo has launched its global brand, Mountain Dew Ice, in India. The company said that this global drink is being launched in the “cloudy lemon format” especially for the Indian market and is backed by considerable operational investments.

The snacks and beverage major said that the launch of Made-for-India Mountain Dew Ice was done after an extensive consumer research.

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Published on February 11, 2021
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