PepsiCo India has reported a consolidated net profit of Rs 883.39 crore and revenue of Rs 9,096.62 crore for the calendar year 2024 (CY24). This marks the company's first full financial reporting cycle since shifting from the April–March fiscal year to a January–December calendar year format, as confirmed by regulatory filings accessed via Tofler.
In 2023, during its transition to the calendar year format, PepsiCo India reported financial results for a nine-month period from April to December. For that year, the company posted Rs 5,954.16 crore in revenue and Rs 217.26 crore in net profit.
The shift in financial reporting aims to bring PepsiCo India’s accounting practices in line with its global operations and improve fiscal alignment within the company.
In CY24, PepsiCo’s packaged foods segment accounted for 75% of the company's total revenue, generating Rs 6,889.66 crore. This strong performance was led by popular brands such as:
Kurkure
Lay’s
Doritos
Quaker
The emphasis on snack foods continues to yield strong returns for PepsiCo in the Indian market, where the demand for ready-to-eat packaged items remains robust.
The beverage business brought in Rs 2,206.96 crore in revenue for CY24. PepsiCo India’s beverage portfolio includes leading brands such as:
Pepsi
7UP
Slice
Tropicana
Gatorade
While the beverage arm contributed less to the topline compared to foods, it remains a vital pillar in PepsiCo’s diversified product strategy.
PepsiCo India’s performance stands in contrast to rival Coca-Cola India, which follows the traditional April–March accounting format. In FY24, Coca-Cola India reported Rs 4,713 crore in revenue, up 4.24%, but witnessed a 41.82% drop in profit, falling to Rs 420 crore.
Coca-Cola India is yet to report its FY25 numbers. PepsiCo’s broader brand portfolio and stronger presence in the food segment have likely contributed to its stronger growth trajectory.
Unlike Coca-Cola, which manages part of its bottling operations in-house, PepsiCo has completely outsourced its bottling operations to Varun Beverages. Varun Beverages serves as one of PepsiCo’s largest global bottlers outside the United States.
In CY24, Varun Beverages reported consolidated revenue of Rs 20,481.32 crore and a net profit of Rs 3,433 crore, underscoring the scale and profitability of its partnership with PepsiCo.
Jagrut Kotecha, CEO of PepsiCo India & South Asia, highlighted the company’s adaptability in a challenging macroeconomic climate. He said,
“Over the past 12 months, the FMCG industry in India has shown remarkable resilience... 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 is continuing to bet big on the Indian market. In 2024, the company announced an investment of Rs 1,266 crore to establish a flavour manufacturing facility in Ujjain, Madhya Pradesh, which is expected to commence operations in Q1 of 2026.
Additionally, a new plant in Tamil Nadu is in the pipeline, further cementing PepsiCo's long-term manufacturing and distribution capabilities in India.
PepsiCo’s global leadership has repeatedly emphasized India’s growth potential within the AMESA (Africa, Middle East, and South Asia) region. Chairman and CEO Ramon Laguarta stated during a recent investor call:
“India is a big growth space for us and it is an investment area for sure.”
With a growing consumer base, increasing urbanization, and rising demand for both packaged foods and beverages, India is shaping up to be one of PepsiCo’s most critical international markets.
Conclusion: Strong Financials, Strategic Expansion
PepsiCo India’s performance in CY24 signals strong momentum in both financial performance and strategic planning. With Rs 883 crore in profit, a growing product portfolio, and new investments underway, the company is well-positioned to expand its footprint and compete aggressively in the Indian FMCG landscape.
As it moves into 2025 and beyond, PepsiCo’s combination of innovation, investment, and brand equity will likely continue to drive growth in one of the world's most promising consumer markets.