In its global earnings statement, PepsiCo announced a “high single-digit growth” in beverage unit volume and “double-digit growth” in its convenient food business in the Indian market during the first quarter of 2024. The net revenue in the Africa, Middle East, and South Asia (AMESA) division, which includes the Indian market, increased by 2% to […]
Varun Beverages, a leading bottler of PepsiCo beverages, announced on Saturday that it has commenced commercial production of soft drinks and energy drinks at its new facility in Gorakhpur, Uttar Pradesh. The company, promoted by the Jaipuria family, also disclosed plans to introduce juices and value-added dairy products at the same location, according to a […]
The Food Safety and Standards Authority of India (FSSAI) has issued a directive to all ecommerce companies, urging them to refrain from labelling dairy-based, cereal-based, or malt-based beverages as ‘health drink’ or ‘energy drink’. This move comes in response to the absence of a defined classification for ‘health drink’ in the country’s food laws, and […]
The Directorate General of GST Intelligence (DGGI) has initiated action against many fast-moving consumer goods (FMCG) companies for alleged tax fraud. According to a report, DGGI filed notices and investigative intimation letters to FMCG businesses such as ITC, Pepsico, Prataap Snacks, Balaji Wafers, Guiltfree Industries and Sarveshwar Foods about this. These companies are suspected of […]
PepsiCo, a global beverage and food company, said on Friday that it expects “mid-single-digit” growth in the Indian market in 2023. According to the most recent financial report, PepsiCo’s global net sales will be USD 91.47 billion in 2023, representing a 5.9 per cent increase. PepsiCo stated that developing and emerging markets, including “China and […]
Pepsi India bottler Varun Beverages on Monday reported a nearly 77 per cent increase in its quarterly profit, as it saw double-digit volume growth across domestic and international markets even as higher costs of essentials weighed on consumers. Consolidated net profit increased to 1.32 billion rupees (USD 15.9 million) in the fourth quarter ended 31 […]
Food and beverage manufacturer PepsiCo India, on Friday, said that it has appointed Jagrut Kotecha as CEO for PepsiCo India. He will succeed Ahmed El Sheikh, who will take over as CEO for the Middle East Business Unit, in March, after a seven-year stint in India. Currently, Kotecha holds the position of Chief Commercial Officer […]
The Delhi High Court on Tuesday reversed an earlier verdict and ruled in favour of PepsiCo, enabling the firm to claim a patent for the potato type developed solely for its Lay’s potato chips. A division bench overturned a July 2023 judgement that affirmed the termination of the patent by the Protection of Plant Varieties […]
Carrefour, a global supermarket chain with a significant presence in more than 30 countries, has decided to stop selling several PepsiCo products in France, Italy, Spain and Belgium. According to a report by Mauro Orru and Jennifer Maloney, published in The Wall Street Journal, the move comes as a protest against what Carrefour deems as […]
PepsiCo Inc (PEP.O) said on Tuesday its intention to implement “modest” price increases next year, despite several prior hikes. The snacks and beverages giant, home to brands like Mirinda and Gatorade, raised its 2023 profit forecast for the third consecutive time as demand remained resilient. PepsiCo’s move amidst growing concerns that frequent price hikes could […]
