PepsiCo India reports US$103.3M profit in CY 2024
PepsiCo India’s food business led revenue growth in 2024, contributing 75% of the company’s consolidated topline.
INDIA – PepsiCo India has reported a consolidated net profit of Rs 883.39 crore (US$103.3M) and revenue of Rs 9,096.62 crore (US$1.06B) for the calendar year 2024 (CY24), marking its first full-year financial reporting under the revised January–December format.
The company transitioned from the traditional April–March fiscal year to the calendar year model in 2023. During that initial nine-month transition period (April–December 2023),
PepsiCo India had posted revenue of Rs 5,954.16 crore (US$696.6M) and net profit of Rs 217.26 crore.
In CY24, PepsiCo’s food business accounted for 75% of its consolidated revenue, generating Rs 6,889.66 crore (US$806M), while its beverage segment contributed Rs 2,206.96 crore (US$2058.2M).
Jagrut Kotecha, CEO of PepsiCo India & South Asia, stated, “Over the past 12 months, the FMCG industry in India has shown remarkable resilience in the face of a challenging external environment.”
In this context, PepsiCo India’s performance in 2024 across food and beverage categories is a testament to its dynamic marketing, marketplace execution, and consumer-centric innovation.
PepsiCo India, being a private entity, does not disclose detailed financial data in public stock exchanges.
PepsiCo’s global leadership has reiterated its commitment to investing in India, identifying the country as a key growth driver within its AMESA region (Africa, Middle East and South Asia).
Speaking during a recent investor call, PepsiCo Chairman and CEO Ramon Laguarta emphasized, “We continue to see a lot of growth in many parts of our AMESA region. In particular, India is a big growth space for us and it is an investment area for sure.”
The company has been scaling its operations in India through product innovation, expanded retail presence, and strategic bottling partnerships.
In April, the company announced plans to set up a manufacturing plant in Tamil Nadu as part of its strategy to expand its footprint in the Indian snacks and beverages market.
This initiative aligns with the Tamil Nadu government’s efforts to develop four food parks in the state: Mannaparrai, Theni, Nagapattinam, and Tindivanam. The government aims to boost the production and export of agro and processed foods through these parks.
The Indian food and beverages market size was valued at US$332B in 2023 and is expected to grow at a CAGR of 11.05% from 2024 to 2030, reaching US$691.47B by 2030, according to a study by Maximize Market Research.
In light of this projected growth, PepsiCo India is working to expand its offerings and establish manufacturing plants in various states throughout India.
In addition to the new facility in Tamil Nadu, PepsiCo India announced plans last year to set up manufacturing plants in Madhya Pradesh and Punjab, expected to become operational in 2025 or early 2026. Earlier in 2023, the company launched its first food manufacturing plant in Nalbari, Assam.
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