Ahmed ElSheikh, President of PepsiCo India, highlighted the company’s resilient performance despite inflationary pressures. He emphasized that the double-digit revenue growth was well-rounded and supported by both the foods and beverages segments.
Elaborating on the growth drivers, ElSheikh stated, “In the beverage segment, our top-line growth was fueled by a robust summer season and an upswing in rural demand during FY23. We also prioritized expanding our distribution networks. In the foods segment, we witnessed underlying volume growth, fueled by innovative products like Lays Gourmet and Doritos Sizzlin Hot. Moreover, we concentrated on strengthening our market presence in affordable pack prices, such as ₹5 packs.”
PepsiCo India’s net profit soared to ₹255.75 crore during FY23, witnessing an impressive surge from ₹27.87 crore in FY22. This marks the company’s sixth consecutive year of profitable growth. As per the latest Registrar of Companies (RoC) filing, the total revenue saw a substantial increase of approximately 29 per cent, reaching around ₹8,129 crore.
The company’s success was further attributed to the expansion of margins and a focus on net revenue realization, heightened productivity, and leveraging on scale.
ElSheikh expressed a positive outlook on India’s growth potential, emphasizing, “This is the decade of India. Factors such as robust GDP growth, increasing discretionary spends, and relatively low per-capita consumption levels are expected to lead to a positive virtuous cycle.”
Looking ahead, PepsiCo India is keen on pursuing its strategic growth path and has plans to establish its fifth snacks plant in Assam, aiming to further strengthen its presence in the region. The company’s commitment to innovation, distribution expansion, and focus on consumer needs positions it well for continued success in the dynamic Indian market.
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