Varun Beverages - To Sizzle On Greater Penetration, Launches: Motilal Oswal
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Motilal Oswal Report
We analysed the impact and growth drivers of Varun Beverages Ltd. post the second Covid-19D wave. Key parameters to drive performance include:
its growing presence in South and West India,
increasing acceptance of newly launched products, and
strengthening of its distribution network.
Key insights are highlighted below:
In May 2019, Varun Beverages acquired the franchisee rights to seven states – Gujarat, parts of Maharashtra, parts of Karnataka, parts of Telangana, parts of Andhra Pradesh, Kerala, and Tamil Nadu – in South and West India from PepsiCo.
Prior to the acquisition, PepsiCo’s market share had dropped over CY16-19 and penetration levels in the region were low. The management aims to improve distribution and penetration levels in the region.
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