Varun Beverages - Set For Next Leg Of Growth: Motilal Oswal
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Motilal Oswal Report
Varun Beverages Ltd. is engaged in the manufacture, sale, bottling, and distribution of PepsiCo’s beverages in pre-defined territories in India.
Impacted by the initial phase of Covid-19, the company’s demand recovered strongly from the latter part of CY20 - led by:
1. pick-up in volumes in the newly acquired territory of South/ West India, 2. strong demand for newly launched products (Mountain Dew – Ice), and 3. re-working of the formulation, which resulted in higher retention of CO2 – leading to higher acceptance and demand.
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