V a run Be v e ra g e s Lim ite d Q 4 & C Y 2 0 1 9 Re su lts - - PDF document

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V a run Be v e ra g e s Lim ite d Q 4 & C Y 2 0 1 9 Re su lts - - PDF document

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Ifcorp VRRUn BEV ER A GES LffTMCED _ 1 Corporate Off : Plot No.31, Institutional Area, Sec.-44, Gurgaon, Haryana-122002 (India) Ph.: +91-124-4643100-500 Fax: +91-124-4643303/04 E -m ail: info@rjcorp.in Visit us a t : www.varunpepsi.com

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Ifcorp VRRUn BEV ER A GES LffTMCED _ 1

Corporate Off : Plot No.31, Institutional Area, Sec.-44, Gurgaon, Haryana-122002 (India) Ph.: +91-124-4643100-500 • Fax: +91-124-4643303/04 E -m ail: info@rjcorp.in • Visit us a t : www.varunpepsi.com CIN No. : L74899DL1995PLC069839 To, Feb r u ar y 7, 2020 BSE Lim ited National Stock Exchan ge o f India Ltd. Ph ir oze Je e je e b h o y T o w e r s , Exchan ge Plaza, Block G, C/ l, Ban dra Kurla Dalai Street, Mum bai - 400 001 Com plex, Ban dra (E), Mum bai - 400 051 Em ail: cor p .r elation s@bsein d ia.com Em ail: cm list@n se.co.in

Security Code: 540180 Sym bol: VBL Slub: Regulation 30: Presentation on Audited Financial Results of the Company for the Financial Year ended December 31. 2019

Dear Sir / Mad am , Pu r su an t to Regu lation 30 o f SEBI (Listin g Obligations an d Disclosu re Requir em en ts) Regu lations, 20 15 , p lease find attach ed herew ith a copy o f the Presen tation on Au d ited Fin an cial Resu lts o f the Com p an y for the Fin an cial Year en d ed Decem b er 3 1 ,2 0 1 9 . The sam e is also bein g up load ed on the w ebsite o f the Com p an y at w w w .var u n p ep si.com . You are r equ ested to take th e above on record. Your s faith fu lly,

F

  • r Vanin Beverages Limited

RaviBatra Chief Risk Officer & Group Company Secretary Enel: As a b o ve

  • Regd. Office : F-2/7, Okhla Industrial Area Phase-1, New Delhi - 110 020
  • Tel. : 011-41706720-25 Fax. 26813665
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SLIDE 2

Fe b ru a ry 0 7 , 2 0 2 0

(a PepsiCo franchisee)

V a run Be v e ra g e s Lim ite d

Q 4 & C Y 2 0 1 9 Re su lts Pre se n ta tio n

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SLIDE 3

Disc la im e r

(a PepsiCo franchisee) This p re se nta tio n ha s b e e n p re p a re d b y Va run Be ve ra g e s Lim ite d (the "C o m p a n y") fo r g e ne ra l info rm a tio n p urp o se s o nly a nd d o e s no t c o nstitute a ny re c o m m e nd a tio n o r fo rm p a rt o f a ny o ffe r o r invita tio n, d ire c tly o r ind ire c tly, in a ny m a nne r, o r ind uc e m e nt to se ll o r issue , o r a ny so lic ita tio n o f a ny o ffe r to p urc ha se o r sub sc rib e fo r, a ny se c uritie s o f the C o m p a ny. This p re se nta tio n d o e s no t so lic it a ny a c tio n b a se d o n the m a te ria l c o nta ine d he re in. No thing in this p re se nta tio n is inte nd e d b y the C o m p a ny to b e c o nstrue d a s le g a l, a c c o unting o r ta x a d vic e . This p re se nta tio n ha s b e e n p re p a re d b y the C o m p a ny b a se d up o n info rm a tio n a va ila b le in the p ub lic d o m a in a nd ha s no t b e e n ind e p e nd e ntly ve rifie d . This p re se nta tio n ha s no t b e e n a p p ro ve d a nd w ill no t o r m a y no t b e re vie w e d o r a p p ro ve d b y a ny sta tuto ry o r re g ula to ry a utho rity in Ind ia
  • r b y a ny Sto c k Exc ha ng e in Ind ia . The a c tua l re sults c o uld d iffe r m a te ria lly fro m tho se p ro je c te d in a ny suc h fo rw a rd -lo o king sta te m e nts b e c a use
  • f va rio us fa c to rs.
This p re se nta tio n c o nta ins c e rta in fo rw a rd -lo o king sta te m e nts re la ting to the b usine ss, fina nc ia l p e rfo rm a nc e , stra te g y a nd re sults o f the C o m p a ny a nd / o r the ind ustry in w hic h it o p e ra te s. Ne ithe r the C o m p a ny no r its a ffilia te s o r a d viso rs o r re p re se nta tive s no r a ny o f its o r the ir p a re nt o r sub sid ia ry und e rta king s o r a ny suc h p e rso n 's o ffic e rs o r e m p lo ye e s g ua ra nte e s tha t the a ssum p tio ns und e rlying suc h fo rw a rd -lo o king sta te m e nts a re fre e fro m e rro rs no r d o e s e ithe r a c c e p t a ny re sp o nsib ility fo r the future a c c ura c y o f the fo rw a rd -lo o king sta te m e nts c o nta ine d in this p re se nta tio n o r the a c tua l o c c urre nc e o f the fo re c a ste d d e ve lo p m e nts. The C o m p a ny a ssum e s no re sp o nsib ility to p ub lic ly a m e nd , m o d ify o r re vise a ny fo rw a rd -lo o king sta te m e nts, o n the b a sis o f a ny sub se q ue nt d e ve lo p m e nts, info rm a tio n o r e ve nts, o r o the rw ise . G ive n the se unc e rta intie s a nd o the r fa c to rs, vie w e rs o f this p re se nta tio n a re c a utio ne d no t to p la c e und ue re lia nc e o n the se fo rw a rd -lo o king sta te m e nts. This p re se nta tio n is no t a p ro sp e c tus, a sta te m e nt in lie u o f a p ro sp e c tus, a n o ffe ring c irc ula r, a n a d ve rtise m e nt o r a n o ffe r d o c um e nt und e r the C o m p a nie s Ac t, 2013, a s a m e nd e d , the Se c uritie s a nd Exc ha ng e Bo a rd o f I nd ia (Issue o f C a p ita l a nd Disc lo sure Re q uire m e nts) Re g ula tio ns, 2018, a s a m e nd e d , o r a ny o the r a p p lic a b le la w in Ind ia . This p re se nta tio n is stric tly c o nfid e ntia l a nd m a y no t b e c o p ie d o r d isse m ina te d , in w ho le o r in p a rt, a nd in a ny m a nne r o r fo r a ny p urp o se . Ne ithe r this d o c um e nt no r a ny p a rt o r c o p y o f it m a y b e d istrib ute d , d ire c tly o r ind ire c tly, in the Unite d Sta te s. The d istrib utio n o f this d o c um e nt in c e rta in jurisd ic tio ns m a y b e re stric te d b y la w a nd p e rso ns in to w ho se p o sse ssio n this p re se nta tio n c o m e s sho uld info rm the m se lve s a b o ut a nd o b se rve a ny suc h re stric tio ns. By re vie w ing this p re se nta tio n, yo u a g re e to b e b o und b y the fo re g o ing lim ita tio ns. This p re se nta tio n is no t a n o ffe r to se ll o r a so lic ita tio n o f a ny o ffe r to b uy the se c uritie s o f the C o m p a ny in the Unite d Sta te s o r in a ny o the r jurisd ic tio n w he re suc h o ffe r o r sa le w o uld b e unla w ful. Se c uritie s m a y no t b e o ffe re d , so ld , re so ld , p le d g e d , d e live re d , d istrib ute d o r tra nsfe rre d , d ire c tly o r ind ire c tly, in to o r w ithin the Unite d Sta te s a b se nt re g istra tio n und e r the Unite d Sta te s Se c uritie s A c t o f 1933 (the " Se c u ritie s A c t"), a s a m e nd e d , e xc e p t p ursua nt to a n e xe m p tio n fro m , o r in a tra nsa c tio n no t sub je c t to , the re g istra tio n re q uire m e nts o f the Se c uritie s A c t a nd in c o m p lia nc e w ith a ny a p p lic a b le se c uritie s la w s o f a ny sta te o f the Unite d Sta te s.
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SLIDE 4

Ta b le o f C o n te n t

C o m p a ny O v e rv ie w C h a irm a n ’s M e ssa g e Q 4 & C Y 2 0 1 9 Re sults O v e rv ie w Pe rfo rm a nc e Hig hlig hts A w a rd s, Su sta in a b ility

i

(a PepsiCo franchisee) 3
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SLIDE 5 Pa tha nko t Him* G re a te r No id a I & II — Uttarakhand Sikkim Rajasthan Bhiwadi Bihar Jo d hp ur Jharkhi Madhya R^Mandidi Pradesh v Gujarat Jamsl

.

Odisha Bha ru c h f t Daman & Diu ■ f t j Aura ng a b a d Maharashtra f f t j Sa n g a r Telangana Dha rw a d Karnataka Ne la m a ng a la Tamil Nadu Tiru n e lv e li Sri Lanka

C o m p a n y Sn a p s h o t

(a PepsiCo franchisee)

Ke y p la y e r in the b e ve ra g e ind ustry

O p e ra tio ns sp a nning a c ro ss 6 c o u n trie s - 3 in the Ind ia n Sub c o ntine nt (Ind ia , Sri La nka , Ne p a l) c o ntrib ute -8 5 % to re ve nue s; 3 in A fric a (M o ro c c o , Za m b ia , Zim b a b w e ) c o ntrib ute -1 5 % fo r fisc a l ye a r 2019 O ve r 28 ye a rs stra te g ic a sso c ia tio n w ith Pe p siC o

  • a c c o unting

fo r

  • 80%+
  • f

Pe p siC o ’s b e ve ra g e sa le s vo lum e in Ind ia a n d p re se nt in 27 Sta te s a nd 7 UT s

Chandigarh Haryana Dadra & Nagar Haveli M a hul, Mum b a i f t To ta l Sa le s V o lu m e s ( m n C a s e s*) 2 0 1 5 - 2 0 1 9 : Sa le s V o lu m e C A G R: ~ 1 9 .7 % 2015 201 6 2 0 1 7 201 8 ■ Ind ia ■ In te rn a tio n a l f t S ri C ity Goa f t Pa la kka d ft? Kerala Puducherry f t Ma m a nd ur 2 0 1 9 Existin g V BL Ind ia Su b -Te rrito rie s 2 0 1 9 N e w V BL Ind ia Su b -Te rrito rie s 2 0 1 9 O the r Fra n c h ise d su b -te rrito rie s 2 0 1 9 Existin g V B L In te rna tio na l Te rrito rie s V BL M a nufa c turing p la nts Lakshadweep Andaman & Nicobar Island No te : Ma p no t to sc a le

Note: *A unit c a se is e q ua l to 5.678 lite rs o f b e ve ra g e d ivid e d in 24 b o ttle s o f ~ 237 m l e a c h

4
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SLIDE 6

Bra nd s lic e nse d to V BL

(a PepsiCo franchisee)

Bra n d s lic e n se d b y Pe p siC o :

C a rb o n a te d So ft Drinks

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' / b la c k c fie r p e p s i

C a rb o n a te d Ju ic e Ba se d Drinks Ene rg y Drink C lub So d a Ic e T e a

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Fruit Pulp / Ju ic e Ba se d Drinks

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DELIGHT

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Pa c ka g e d W a te r

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Da iry Ba se d Drinks M a ng o Sha ke C o ld C o ffe e Be lg ia n C ho c o Sha ke

* No te : "C re a m b e ll" tra d e m a rk, a n e sta b lish e d b ra nd , ha s b e e n lic e n se d to b e use d b y V BL fo r a m b ie n t te m p e ra tu re v a lu e a d d e d d a iry b a se d b e ve ra g e s. 5
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SLIDE 7

V BL- EN D - TO - EN D EX EC UTIO N A C RO SS V A LUE C HA IN

Ke y Pla y e r in th e Be v e ra g e In d u stry - Bu sin e ss M o d e l

(a PepsiCo franchisee) M A N UFA C TURIN G C o n c e n tra te O th e r Ra w (Pe p siC o ) M a te ria ls
  • --- 1
Bo ttling ■ 38 sta te -o f-th e -a rt p ro d u c tio n fa c ilitie s D ISTRUBUTIO N & W A REHO USIN G 90+ d e p o ts 2,5 00 + o w n e d v e h ic le s — 1,500+ p rim a ry d istrib u to rs In sta lle d 775,0 00+ v isi-c o o le rs C USTO M ER M A N A G EM EN T IN - M A RKET EX EC UTIO N C O ST EFFIC IEN C IES C A SH M A N A G EM EN T V BL - lo c a l le ve l p ro m o tio n a n d in -sto re a c tiv a tio n Pe p siC o - b ra nd d e v e lo p m e n t & c o n su m e r m a rke tin g Exp e rie n c e d re g io n -sp e c ific sa le s te a m Re sp o n sib le fo r c a te g o ry v a lu e / v o lu m e g ro w th — Re sp o n sib le fo r re a c h in g o u t to e v e ry 6th p e rso n in the w o rld Pro d u c tio n o p tim iza tio n Ba c kw a rd in te g ra tio n In n o v a tio n (p a c ka g in g e tc .) W o rkin g c a p ita l e ffic ie n c ie s D isc ip lin e d c a p e x in v e stm e n t Te rrito ry a c q u isitio n SO LID IN RA STRUC TURE RO BUST SUPPLY C HA IN D EM A N D D ELIV ERY M A RKET SHA RE G A IN S
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SLIDE 8

Sy m b io tic Re la tio n sh ip w ith Pe p siC o

(a PepsiCo franchisee)

V BL - D e m a n d D e liv e ry Sa le s & D is trib u tio n - G TM & Lo g istic s ■ In - o u tle t M a n a g e m e n t - V is i- C o o le rs C o n s u m e r Pu sh M a n a g e m e n t ( BTL)

  • M a rk e t Sh a re G a in s

Pro d u c tio n Fa c ilitie s Pe p s iC o - D e m a n d C re a tio n ■ Tra d e m a rk s ■ Fo rm u la tio n th ro u g h C o n c e n tra te ■ Pro d u c t & Pa c k a g in g in n o v a tio n th ro u g h in v e s tm e n t in R&D ■ C o n s u m e r Pu ll M a n a g e m e n t ( A TL)

  • Bra n d D e v e lo p m e n t
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SLIDE 9

C h a irm a n 's M e ssa g e

(a PepsiCo franchisee)

C o m m e ntin g o n the p e rfo rm a nc e fo r Q 4 & C Y 2 0 1 9 , M r. Ra vi Ja ip uria , C ha irm a n - V a run Be v e ra g e s Lim ite d sa id , “ I a m h a p p y to sh a re th a t 2 0 1 9 h a s b e e n a y e a r o f so lid o p e ra tio n a l a n d fin a n c ia l c o n so lid a tio n . W e h a v e d e liv e re d a to p lin e g ro w th o f 40 %, EBIT D A g ro w th o f 44 %, a n d PA T g ro w th o f 5 8 % in 2019. T he p e rfo rm a n c e w a s p rim a rily d riv e n b y ro b u st v o lu m e s re p o rte d in b o th the In d ia n a n d In te rn a tio n a l m a rke ts. Im p ro v e d p e rfo rm a n c e in u n d e rp e n e tra te d te rrito rie s a c q u ire d in 2 0 1 7 a n d e a rly 2018. T his re su lte d in a h e a lth y d o m e stic o rg a n ic v o lu m e g ro w th o f 13%. O u r in te rn a tio n a l b u sin e ss a lso re g iste re d a so lid v o lu m e g ro w th o f 34%, d riv e n b y d o u b le d ig it v o lu m e g ro w th in the ke y m a rke ts o f M o ro c c o , Zim b a b w e a n d Sri La nka . In a d d itio n, the fu ll y e a r p e rfo rm a n c e a lso in c lu d e s the im p a c t o f So u th a n d W e st In d ia su b -te rrito rie s a c q u isitio n fro m M a y ’ 19 o n w a rd s. W hile Q 4 is ty p ic a lly a se a so n a lly w e a k q u a rte r, the lo sse s w e re n o ta b ly lo w e r in c o m p a riso n to Q 4 2 0 1 9 o n a c c o u n t o f b e tte r b u sin e ss e ffic ie n c ie s a n d in te g ra tio n o f n e w te rrito rie s th a t a re re la tiv e ly le ss se a so n a l. W e e xp e c t this tre nd to su sta in a s w e w o rk o n fu rth e r fo rtify in g o u r c o re stre n g th s a n d a im to im p ro v e o u r p e n e tra tio n in the n e w ly a c q u ire d te rrito rie s. Lo o kin g a h e a d , w e w ill c o n tin u e to b u ild up o n o u r ke y p o sitio n in the b e v e ra g e in d u stry w ith p re se n c e in the fa ste st g ro w in g m a rke ts, so lid in fra stru c tu re a n d a w e ll-e n tre n c h e d d istrib u tio n ne tw o rk. W e a re fu lly fo c u se d to w a rd s e n h a n c in g o u r p re se n c e in the re c e n tly a c q u ire d te rrito rie s to g a rn e r d e e p e r p e n e tra tio n in the u p c o m in g y e a rs. Fu rth e rm o re , w e a re c o n sta n tly lo o kin g a t o p p o rtu n itie s to in n o v a te a n d u p g ra d e o u r p ro d u c t p o rtfo lio to ta p the sh ift in c o n su m e r p re fe re n c e s a c ro ss e xistin g a n d n e w m a rke ts. T his a lo n g w ith im p ro v in g d e m a n d in o u r c o re m a rke ts sh o u ld e n a b le h ig h e r a nd su sta in e d p e rfo rm a n c e in the lo n g e r te rm .”

8
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SLIDE 10

Ke y D e v e lo p m e n ts

(a PepsiCo franchisee)
  • 1. A c q u is itio n o f s u b - te rrito rie s
Fe b ru a ry 1 4 , 2 0 1 9 :

C o n c lu d e d the a c q u isitio n o f Pe p siC o In d ia ’s p re v io u sly fra nc h ise d te rrito rie s o f p a rts o f M a h a ra sh tra (14 d istric ts), p a rts o f Ka rn a ta ka (13 d istric ts) a nd p a rts o f M a d hya Pra d e sh (3 d istric ts).

M a y 0 1 , 2 0 1 9 : C o n c lu d e d the a c q u isitio n o f fra n c h ise rig hts in So uth a nd W e st re g io n s fro m

Pe p siC o fo r a n a tio n a l b o ttlin g , sa le s a nd d istrib u tio n fo o tp rin t in 7 Sta te s a nd 5 Unio n Te rrito rie s o f Ind ia .

2 . Bo ttlin g A p p o in tm e n t a n d Tra d e m a rk Lic e n se A g re e m e n t fo r In d ia

Pa rtic u la r Ex istin g Re v ise d

Fra n c h ise Rig hts (up to ) O c to b e r 2, 20 22 A p ril 30, 2039 3 . Bo n u s Issu e o f Eq u ity Sh a re s / D iv id e n d p a v o u t

  • At th e sta rt o f Silv e r Ju b ile e y e a r o f the C o m p a n y, a nd in a p p re c ia tio n o f c o n tin u in g su p p o rt fro m th e sh a re h o ld e rs o f the

C o m p a n y, the Bo a rd o f D ire c to rs re c o m m e n d e d a nd a p p ro v e d Bo n u s Issue o f e q u ity sh a re s in the p ro p o rtio n o f 1 e q u ity sh a re fo r e v e ry 2 e q u ity sh a re s he ld . Th e sh a re s h a ve b e e n a llo tte d to the e lig ib le sh a re h o ld e rs.

  • Th e Bo a rd o f D ire c to r’s re c o m m e n d e d a n in te rim d iv id e n d o f Rs. 2.5 0 p e r sh a re . To ta l c a sh o u tflo w fo r d iv id e n d p a yo ut w a s
  • Rs. 776.69 m illio n (in c lu siv e o f ne t sta tu to ry ta xe s p a ya b le ).
9
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SLIDE 11

Ke y D e v e lo p m e n ts

(a PepsiCo franchisee) 4 . Q IP Issu e : The C o m p a n y ha s ra ise d ~ Rs. 9,000 m illio n th ro u g h fre sh issu e o f 14 ,705,882 e q u ity sh a re s o f Rs. 10. Th e Q IP p ro c e e d s

(ne t o f issu e e xp e nse s) o f Rs. 8 ,836 m illio n ha ve b e e n u tilize d fo r re p a ym e n t o f d e b ts d u rin g Q 3 20 19 .

5 . C re d it Ra tin g Up g ra d e : C RISIL (a n S&P G lo b a l C o m p a ny ) ha s u p g ra d e d th e c re d it ra ting fo r lo ng te rm d e b t a s C RISIL A A

(p re v io u sly A A -) a nd re a ffirm e d fo r sh o rt te rm d e b t a s C RISIL A 1+.

6 . In tro d u c tio n o f a m b ie n t te m p e ra tu re v a lu e a d d e d d a iry b e v e ra g e s: Th e C o m p a n y in tro d u c e d thre e v a ria n ts o f a m b ie n t

te m p e ra tu re v a lu e a d d e d d a iry b e v e ra g e s - Be lg ia n C h o c o la te , C o ld C o ffe e a nd M a n g o sh a ke a t a p ric e o f Rs. 30 fo r 200m l PET b o ttle w ith a lo ng sh e lf life o f 180 d a ys. Th e se p ro d u c ts h a ve b e e n w e ll re c e iv e d in the m a rke t.

  • 7. In c re a se d sh a re h o ld in g in Lu n a rm e c h Te c h n o lo g ie s Pvt. Ltd .: Th e C o m p a n y ha s a c q u ire d 2 0 % sh a re h o ld in g (200 ,000 e q u ity

sha re s) in Lu na rm e c h Te c h n o lo g ie s Pvt. Ltd . (LT PL) f o ra p u rc h a se c o n sid e ra tio n o f Rs.150 m illio n w h ic h ha s le a d to in c re a se in e ffe c tiv e sh a re h o ld in g o f VBL in LTPL to 55%. C o n se q u e n tly, LTPL ha s b e c o m e su b sid ia ry o f VBL w .e .f. 4th No v, 20 19 th ro u g h b o a rd c o n tro l.

8 . Pu rc h a se o f p ro d u c tio n fa c ilitie s: The C o m p a n y ha s c o n c lu d e d a c q u isitio n o f tw o p ro d uc tio n fa c ilitie s - o ne situ a te d in

D ha rw a d , Ka rn a ta ka fo r a to ta l c o n sid e ra tio n o f Rs. 747.2 7 m illio n a nd se c o n d situ a te d a t Tiru n e lv e li, Ta m il Na d u fo r a to ta l c o n sid e ra tio n o f Rs. 20 0 m illio n.

  • 9. In tro d u c tio n o f n e w c o rp o ra te ta x ra te s: O n 20 Se p te m b e r 20 19 , v id e the Ta xa tio n La w s (A m e n d m e nt) O rd in a n c e 2019 , the

G o v e rn m e n t o f Ind ia in se rte d Se c tio n 115BA B in the In c o m e Ta x A c t,1961 w h ic h p ro v id e s d o m e stic c o m p a n ie s a n o n -re v e rsib le

  • p tio n to p a y c o rp o ra te ta x a t re d u c e d ra te s e ffe c tiv e 01 A p ril 20 19 su b je c t to c e rta in c o n d itio n s. Th e C o m p a n y c a rrie s

u nu tilize d m in im u m a lte rn a tiv e ta x c re d it a nd ha s o th e r ta x b e n e fits/ h o lid a ys a v a ila b le . Th e m a n a g e m e n t p la ns to c o n c lu d e its e v a lu a tio n o f this o p tio n in c o n ju n c tio n w ith its ta x y e a r e nd o f 31 M a rc h 20 20 . Th e C o m p a n y ha s a v a ile d th e b e n e fit o f lo w e r M A T re su ltin g in a ne t sa v in g in c a sh flo w o f Rs. 194.3 m illio n.

1 0
slide-12
SLIDE 12
  • Rs. m illio n

Pe rfo rm a n c e Hig h lig h ts (Q 4 & C Y 2 0 1 9 )

(a PepsiCo franchisee) N e t Sa le s 7,856 39 .7 % 71 £ !6 51,0 5 3 55 .3 %
  • 12,202

■ . m ' M , m ,

Q 4 201 8 Q 4 201 9 201 8 2019 EBITDA 43 .8 % ^ 14,477 10,0 66 142 .2% 10,0 66 47 8 6 . 1% ^ 1,157 9 . 1% 1 1 1 1 1 1 9 .7 % 2 0 .3 % Q 4 201 8 Q 4 201 9 2 0 1 8 201 9 c
  • E
V)
  • 7 08
Q 4 2018 PA T
  • 5 40
Q 4 2019 57 .5 %

O 4 ,7 2 2

l l

2 0 1 8 201 9 Q u a rte rly Sa le s V o lu m e s ( C a te g o ry - w ise m illio n u n it c a se s) 200

150

100 50 8 0 m n ^ 1 Z3 % 90 m n

Q1 2018 Q1 2019

4 3 .3 % 195 m n 136 m n

Q2 2018 Q2 2019

60 .5 % 12 4 m n 78 m n

Q3 2018 Q3 2019

^ 80 .7 % 82 m n 46 m n

Q4 2018 Q4 2019

Pe rio d Q1 2 0 1 8 Q 1 2 0 1 9 Q 2 2 0 1 8 Q 2 2 0 1 9 Q 3 2 0 1 8 Q 3 2 0 1 9 Q 4 2 0 1 8 Q 4 20 1 9 C SD 60 7 5 % 64 7 1 % 107 7 9 % 145 7 4 % 59 7 6 % 86 6 9 % 31 6 9 % 52 6 3 % Ju ic e 5 6 % 6 6 % 10 7 % 15 8 % 4 5 % 7 6 % 3 6 % 5 6 % W a te r 15 1 9 % 20 2 3 % 19 1 4 % 35 1 8 % 15 1 9 % 31 2 5 % 12 2 5 % 25 3 1 %
slide-13
SLIDE 13
  • Rs. m illio n
  • Rs. m illio n

Pe rfo rm a n c e Hig h lig h ts ( 2 0 1 5 - 2 0 1 9 )

(a PepsiCo franchisee) 33,491

1

201 5 ■ Re ve n u e 71,2 96 2 0 1 6 2 0 1 7 2 0 1 8 2019 ^ ■ P A T — ♦ — PA T M a rg in s 4,7 22 20 1 5 201 6 2 0 1 7 201 8 201 9 EBITDA — EBITDA M a rg in s (%) C A G R (2015-19) - 2 2 .9 % 18.7% 6,341

I I I

20 .6 % 7,952 115-19) - 2 2 .9 % 2 0 '3 % 14,4 77 2 0 -9% 19.7% “ ♦ “ " 10,066 8,3 5 8

III

201 5 2016 201 7 2018 201 9 c
  • E
^ ■ N e t W o rth ♦ Ne t D/ E C A G R (2015-19) - 5 5 .5 % 33,591 2 0 1 5 2 0 1 6 2 0 1 7 201 8 2019 No te : 1. Histo ric a lly, till 2015, in d e b t e q uity ra tio c a lc ula tio n, C C D ’s issue d to Priva te Eq uity Inv e sto rs w e re c o nsid e re d a s Eq uity a nd d e fe rre d a c q uisitio n c o nsid e ra tio n to Pe p siC o w a s e xc lud e d fro m the d e b t. Fro m the y e a r 2016, C C Ds o f p riv a te e q u ity inv e sto rs a re c o nv e rte d into e q uity a nd inte re st fre e d e fe rre d a c q uisitio n c o nsid e ra tio n to Pe p siC o ha s b e e n c o nsid e re d in to ta l d e b t. 2. 2 01 7 o nw a rd s fina nc ia ls a re a s p e r Ind A S a nd p re v io us y e a r num b e rs a re a s p e r IG A A P
slide-14
SLIDE 14

C o n so lid a te d Pro fit & Lo ss Sta te m e n t

(a PepsiCo franchisee) Pa rtic ula rs (Rs. m illio n) Q 4 2 0 1 9 Q 4 2 0 1 8 Yo Y(% ) 2 0 1 9 2 0 1 8

YoY (%)

1. In c o m e (a ) Re ve nu e fro m o p e ra tio n s 12,395.4 8,041.4 54 .1% 72,484.6 52,281.3 3 8 .6 % (b ) Exc ise Duty 192.9 185.2 4 .2 %__ 1,188.8 1,228.7
  • 3 .2 %
N e t Re ve nue s 1 2 ,2 0 2 .5 7 ,8 5 6 .2 5 5 .3 %__ 7 1 ,2 9 5 .8 5 1 ,0 5 2 .5 39 .7 % (c ) O th e r in c o m e 359.8 127.4 182.4% 425.3 218.2 94 .9 %
  • 2. Exp e n se s
(a ) C o st o f m a te ria ls c o n su m e d 5,708.2 2,645.3 115.8% 29,395.6 21 ,122.8 3 9 .2 % (b ) Pu rc h a se o f sto c k-in -tra d e 420.2 360.1 16.7% 4,237.3 1,942.2 118.2% (c ) C h a n g e s in in v e n to rie s o f FG , W IP a n d sto c k-in -tra d e (689.1) (335.8) 105.2% (1,438.6) (624.0) 130.6% (d) Em p lo ye e b e n e fits e xp e n se 2,236.4 1,446.5 54 .6% 8,108.2 5,829.5 3 9 .1 % (e ) Fin a n c e c o sts 790.6 537.2 4 7 .2 % 3,0 9 6 .4 2,125.6 45 .7 % (f) D e p re c ia tio n a n d a m o rtisa tio n e xp e n se 1,368.5 940.6 4 5 .5 % 4,886.3 3 ,850 .7 26 .9 % (g ) O th e r e xp e n se s 3,369.3 3,2 6 2 .1 3 .3 %__ 16,516.8 12,716.2 29 .9 % T
  • ta l e x p e nse s
1 3 ,2 0 4 .1 8 ,8 5 6 .1 4 9 .1 % __ 6 4 ,8 0 2 .0 4 6 ,9 6 3 .0 38 .0 % EBIT DA 1 ,1 5 7 .4 4 7 7 .9 142.2%__ 1 4 ,4 7 6 .5 1 0 ,0 6 5 .9 43 .8 %
  • 3. Pro fit/ (lo ss) b e fo re ta x a n d sh a re o f p ro fit in a sso c ia te (1-2)
(641.8) (872.5) NA 6,919.1 4,307 .8 60.6%
  • 4. Sh a re o f p ro fit in a sso c ia te
0.2 6.6
  • 9 6 .7 %
43.6 30 .2 44 .4 %
  • 5. Pro fit/ (lo ss) b e fo re ta x (3 + 4 )
(6 4 1 .6 ) (8 6 5 .9 ) NA 6 ,9 6 2 .7 4 ,3 3 8 .0 60.5%
  • 6. Ta x e xp e n se
(102.1) ____ (157.7) NA__ 2,2 40 .7 1,339.3 67.3%
  • 7. Ne t p ro fit/ (lo ss) fo r th e p e rio d (5 - 6 )
(5 3 9 .5 ) (7 0 8 .2 ) NA__ 4 ,7 2 2 .1 2 ,9 9 8 .6 57 .5% No te : G iv e n the se a so n a lity in the b usine ss, it is b e st to m o nito r the b u sine ss o n a n a nnua l b a sis a s a sig n ific a n t p o rtio n o f the re v e nu e s a re re a lize d in the A p r-June q ua rte r 1 3
slide-15
SLIDE 15

C o n so lid a te d Ba la n c e Sh e e t

(a PepsiCo franchisee) Pa rtic ula rs (Rs m illio n) 3 1 - De c - 1 9 3 1 - De c - 1 8 Eq u ity a n d lia b ilitie s Eq u ity (a ) Eq u ity sh a re c a p ita l 2,8 8 6 .8 9 1,826.42 (b ) O th e r e q u ity 3 0 ,3 9 7 .3 3 18,1 58 .62 (c ) No n -c o n tro llin g in te re st 3 0 6 .7 9 77.68 To ta l e q u ity 3 3 ,5 9 1 .0 1 2 0 ,0 6 2 .7 2 Lia b ilitie s N o n - c u rre n t lia b ilitie s (a ) Fin a n c ia l lia b ilitie s (i) Bo rro w in g s 2 3 ,5 5 3 .7 6 19,8 00 .69 (b ) Pro visio n s 1,703.35 1,052.55 (c ) D e fe rre d ta x lia b ilitie s (Ne t) 2 ,8 2 5 .0 7 1,921.66 (d) O th e r n o n -c u rre n t lia b ilitie s 8.23 67.7 5 To ta l n o n - c u rre n t lia b ilitie s 2 8 ,0 9 0 .4 1 2 2 ,8 4 2 .6 5 C u rre n t lia b ilitie s (a ) Fin a n c ia l lia b ilitie s (i) Bo rro w in g s 4,6 7 1 .5 4 3 ,7 7 6 .5 5 (ii)Tra d e Pa ya b le s 4,776.61 3 ,1 6 7 .9 7 (iii)O th e r fin a n c ia l lia b ilitie s 10,2 58 .13 8 ,5 1 2 .4 3 (b ) O th e r c u rre n t lia b ilitie s 2,0 4 4 .8 5 1,466.55 (c ) Pro v isio n s 2 9 9 .7 9 160.19 (d) C u rre n t ta x lia b ility 152.00 325 .0 2 To ta l c u rre n t lia b ilitie s 2 2 ,2 0 2 .9 2 1 7 ,4 0 8 .7 1 To ta l lia b ilitie s 5 0 ,2 9 3 .3 3 4 0 ,2 5 1 .3 6 To ta l Eq u ity a n d lia b ilitie s 8 3 ,8 8 4 .3 4 6 0 ,3 1 4 .0 8 Pa rtic ula rs (Rs m illio n) 3 1 - De c - 1 9 3 1 - De c - 1 8 A sse ts N o n - c u rre n t a sse ts (a ) Pro p e rty, p la n t a nd e q u ip m e n t 5 8 ,9 2 5 .0 3 3 8 ,6 0 1 .7 7 (b ) C a p ita l w o rk in p ro g re ss 63 8 .2 4 3 ,5 2 3 .5 7 (c ) G o o d w ill 242 .3 0 19.40 (d) O th e r in ta n g ib le a sse ts 5,623.11 5 ,2 4 8 .5 7 (e ) In v e stm e n t in a sso c ia te s
  • 112.43
(f) Fin a n c ia l a sse ts 454 .3 9 2 0 9 .2 7 (g ) D e fe rre d Ta x A sse ts (Ne t) 128.48 3 3 4 .0 0 (h) O th e r n o n -c u rre n t a sse ts 1,153.96 8 5 7 .6 0 To ta l n o n - c u rre n t a sse ts 6 7 ,1 6 5 .5 0 4 8 ,9 0 6 .6 1 C u rre n t a sse ts (a ) In v e n to rie s 8 ,8 1 5 .1 3 5 ,7 8 3 .9 7 (b ) Fin a n c ia l a sse ts (i)Tra d e re c e iv a b le s 1,725.55 1,2 80.25 (ii)C a sh a n d c a sh e q u iv a le n ts 1,379.68 4 2 9 .3 6 (iii)O th e r b a n k b a la n c e s 331 .0 9 5 0 5 .4 4 (iv) Lo a ns 69 .3 7 15.53 (v) O th e rs 2 ,1 8 9 .8 3 1,4 04.78 (c ) C u rre n t ta x a sse ts (Ne t) 10.23 4.10 (d) O th e r c u rre n t a sse ts 2 ,1 9 7 .9 6 1,9 84.04 To ta l c u rre n t a sse ts 1 6 ,7 1 8 .8 4 1 1 ,4 0 7 .4 7 To ta l a sse ts 8 3 ,8 8 4 .3 4 6 0 ,3 1 4 .0 8 1 4
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SLIDE 16

D isc u ssio n o n Fin a n c ia l & O p e ra tio n a l Pe rfo rm a n c e

(a PepsiCo franchisee) Ne t Re v e nue s / Sa le s V o lum e s
  • To ta l sa le s v o lu m e s w e re up 8 0 .7 % Yo Y a t 82.5 m illio n c a se s in Q 4 20 19 a s c o m p a re d to 45.6 m illio n c a se s in Q 4 2018. Fo r C Y 2019, to ta l
sa le s v o lu m e s w e re up 4 4 .9 % Yo Y a t 49 2.7 m illio n c a se s in 20 19 a s c o m p a re d to 34 0.0 m illio n c a se s in 2018. Th e o rg a n ic v o lu m e g ro w th fo r the full y e a r sto o d a t 17.2% su p p o rte d b y ro b u st p e rfo rm a n c e in Ind ia (O rg a n ic G ro w th 13.1%) a s w e ll a s In te rn a tio n a l te rrito rie s (O rg a nic G ro w th 34%). M o ro c c o , Zim b a b w e a nd Sri La nka ha ve a ll g ro w n in d o u b le d ig its d u rin g the ye a r.
  • Re ve n u e fro m o p e ra tio n s (ne t o f e xc ise / G ST
) g re w 55 .3 % Yo Y in Q 4 20 19 to Rs. 12,202.5 m illio n a n d g re w b y 3 9 .7 % in 20 19 to Rs. 71,295.8 m illio n. Re a liza tio n p e r c a se ha s c o m e d o w n b y ~ 3 .6 % in 20 19 e sse n tia lly o n a c c o u n t o f c h a n g e in p ro d u c t m ix in Ind ia p o st c o n so lid a tio n o f So u th a n d W e st su b -te rrito rie s, in tro d u c tio n o f w a te r in M o ro c c o a nd lo w e r sa le s re a liza tio n in Zim b a b w e in USD te rm s.
  • C SD c o n stitu te d 70.6%, Juic e 6.7% a nd Pa c ka g e d D rinking w a te r 2 2 .7 % o f to ta l sa le s v o lu m e s in 2019.
G ro ss M a rg in s / EBIT DA
  • EBITD A in c re a se d b y 142.2% to Rs. 1,157.4 m illio n in Q 4 20 19 fro m Rs. 47 7.9 m illio n in Q 4 2018. Fo r C Y 2019, EBITD A in c re a se d b y 4 3 .8 % to
  • Rs. 14,476.5 m illio n in 2019 fro m Rs. 10,065.9 m illio n in 2019.
  • G ro ss m a rg in s d e c lin e d b y 120 b p s d u rin g 20 19 d u e to c h a n g e in p ro d u c t m ix, h ig h e r PET
p ric e s a n d h ig h e r sa le s re a liza tio n in USD te rm s in Zim b a b w e in p re v io u s ye a r. EBITD A m a rg in s e xp a n d e d b y 59 b p s in 20 19 to 2 0 .3 % o n a c c o u n t o f o p e ra tin g le v e ra g e in the b usin e ss. PA T
  • Lo sse s re d u c e d to Rs. (539.5) m illio n in Q 4 20 19 fro m Rs. (708.2) m illio n in Q 4 20 18 a nd c o n se q u e n tly PA T in c re a se d b y 5 7 .5 % to Rs. 4,722.2
m illio n in 2019 fro m Rs. 2,9 98 .6 m illio n in 2 0 1 8 o n the b a c k o f ro b u st v o lu m e g ro w th .
  • D e p re c ia tio n ha s in c re a se d b y 4 5 .5 % d u rin g the q u a rte r a nd b y 2 6 .9 % in 20 19 o n a c c o u n t o f c a p ita liza tio n o f Pa th a n ko t p la n t a nd
c o n so lid a tio n o f So u th a n d W e st In d ia su b -te rrito rie s w .e .f. 1st M a y 2019.
  • Fin a n c e c o st ha s in c re a se d b y 4 7 .2 % d u rin g the q u a rte r a n d b y 4 5 .7 % in 20 19 a s the p u rc h a se c o n sid e ra tio n fo r a c q u isitio n o f So u th a nd
W e st Ind ia su b -te rrito rie s ha s b e e n fu n d e d th ro u g h d e b t. Th e e n tire p ro c e e d s o f the Q IP a m o u n tin g to ~ Rs. 9,0 0 0 m illio n , n e t o f issu e e xp e n se s o f Rs. 164.36 m illio n , w e re utilize d fo r re p a ym e n t o f d e b ts d u ring Q 3 2019. 1 5
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SLIDE 17

D isc u ssio n o n Fin a n c ia l & O p e ra tio n a l Pe rfo rm a n c e

(a PepsiCo franchisee) De b t / C re d it Ra ting
  • Ne t d e b t sto o d a t Rs. 32,461 m illio n a s o n De c 31, 20 19 a s a g a in st Rs. 26 ,7 1 5 m illio n a s o n De c 3 1 ,2 0 1 8 . De b t : Eq u ity ra tio sto o d a t 0 .9 7 x
a n d D e b t: EBITD A ra tio sto o d a t 2 .2 4 x a s o n De c 3 1 ,2 0 1 9 .
  • C RISIL ha s u p g ra d e d the c re d it ra tin g fo r lo ng te rm d e b t a s C RISIL A A (p re v io u sly AA-) a n d re a ffirm e d fo r sh o rt te rm d e b t a s C RISIL A 1+.
C a p a c ity Ex p a nsio n
  • Du ring 2019, n e t c a p e x o f ~Rs. 25 ,80 0 m illio n in c lu d e d se ttin g -u p o f a n e w p la n t p rim a rily fo rTro p ic a n a p ro d u c ts a t Pa th a n ko t (~ Rs.
5,500 m illio n ), a c q u isitio n o f c e rta in p a rts o f M a h a ra sh tra , Ka rn a ta ka a n d M a d h ya Pra d e sh a lo n g w ith p la n t a t D h a rw a d (~ Rs. 1,250 m illio n ), a c q u isitio n o f So u th a n d W e st In d ia su b -te rrito rie s (~ Rs. 16,150 m illio n ne t o f in v e stm e n t fu n d ), a c q u isitio n o f c o -p a c ke rs a t Tiru n e lv e li a n d Sric ity (~Rs. 300 m illio n) a n d o rg a n ic c a p e x o f (~ Rs. 2,600 m illio n ).
  • C a p a c ity u tiliza tio n in Ind ia d u rin g the p e a k m o n th ha s c o m e d o w n to ~ 60 % p o st c o n so lid a tio n o f So u th a n d W e st Ind ia su b -te rrito rie s,
p ro v id in g sig n ific a n t sc o p e fo r g ro w th o n e xistin g in v e stm e n ts. W o rkin g C a p ita l
  • W o rkin g c a p ita l d a ys h a ve re m a in e d sta b le a t ~ 26 d a ys a s o n De c 31, 2019 o n a c c o u n t o f e ffic ie n t w o rkin g c a p ita l m a n a g e m e n t
e v e n a fte r c o n so lid a tio n o f n e w su b -te rrito rie s in In d ia d u rin g the p e rio d
  • In ve nto ry, c re d ito r a n d d e b to r d a ys ha ve re m a in e d sta b le e v e n w ith in c re a se in ne t re v e n u e s a n d n u m b e r o f p ro d u c tio n fa c ilitie s.
Div id e nd I n line w ith the g u id e lin e s o f d iv id e n d p o lic y, the Bo a rd o f D ire c to r's re c o m m e n d e d a n in te rim / fin a l d iv id e n d o f Rs. 2.50 p e r sh a re d u rin g 2019. To ta l c a sh o u tflo w fo r d iv id e n d p a yo u t w a s Rs. 776.69 m illio n (in c lu siv e o f ne t sta tu to ry ta xe s p a ya b le ). 1 6
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SLIDE 18

A w a rd s & A c c o la d e s

(a PepsiCo franchisee) V a ru n Be v e ra g e s Ltd . - Bo ttle r o f th e y e a r 2 0 1 9 b y Pe p siC o in So u th A sia re g io n V a ru n Be v e ra g e s Ltd . - G lo b a l Be st Em p lo y e r Bra n d s 2 0 2 0 ( Be st HR Stra te g y in Line w ith Bu sin e ss) p re se n te d b y ET N o w / N a tio n a l Be st Em p lo y e r Bra n d s A w a rd fo r 2 0 1 9 , p re se n te d b y Em p lo y e r Bra n d in g In stitu te In d ia ( se c o n d su c c e ssiv e y e a r) . V a ru n Be v e ra g e s Ltd . - W in n e r o f Be st FM C G C o rp o ra te G o v e rn a n c e In d ia 2 0 1 9 a w a rd e d b y C a p ita l Fin a n c e In te rn a tio n a l 1 7
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SLIDE 19

Su s ta in a b ility In itia tiv e s - PET Re c y c lin g

(a PepsiCo franchisee)

V BL use s ~ 6 6 ,0 0 0 M T PET re sin a s p a c ka g ing m a te ria l fo r its finishe d p ro d u c t a nnu a lly . The se a re hig h q ua lity fo o d g ra d e v irg in PET c hip s w hic h c a n b e e a sily re c y c le d to m a ke v a rio u s p ro d uc ts fo r d iv e rse in d u strie s a nd e nd use s. V BL ha s e ng a g e d w ith G EM Enviro M a n a g e m e n t Pvt. Ltd . fo r p ha se d im p le m e nta tio n

  • f

1 0 0 % re c y c ling

  • f

use d PET b o ttle s thro ug h c o lle c tio n fro m e nd use rs b y p la c ing d ustb ins / re v e rse v e nd ing m a c hine s, d ire c t c o lle c tio n fro m In stitutio ns (Ho te ls, Ba nq ue t Ha lls, Ex hib itio ns, e tc .) a nd sp re a d ing a w a re ne ss thro ug h w o rksho p s. G EM Enviro M a n a g e m e n t Pvt. Ltd ., a De lhi b a se d C e ntra l Po llutio n C o ntro l Bo a rd ( “ C PC B”) re c o g nize d PRO (Pro d u c e r Re sp o nsib le O rg a n iza tio n ) c o m p a ny sp e c ia lize s in a ) c o lle c tio n a nd re c y c ling o f p a c ka g ing w a ste & b ) p ro m o tio n o f re c y c le d g re e n p ro d uc ts like T- Shirts, b a g s e tc . m a d e fro m re c y c ling o f w a ste m a te ria l suc h a s use d PET b o ttle s. In the first y e a r o f e ng a g e m e nt, d uring the se c o n d ha lf o f C Y1 9 , 2 4 ,0 0 0 + M T o f PET w a ste ha s b e e n re c y c le d .

Sa m p le Re c y c le d Pro d u c ts

1 8
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SLIDE 20

Su s ta in a b ility In itia tiv e s - V BL's W a te r Po sitiv e Ba la n c e

(a PepsiCo franchisee) V BL e n g a g e d TU V In d ia Pv t. Ltd . fo r c o m p a n y 's w a te r fo o tp rin t a s s u ra n c e . w h e re in , w a te r m a s s b a la n c e a n d its v a rio u s in itia tiv e s to w a rd s w a te r c o n s e rv a tio n a n d w a te r re c h a rg e w e re v e rifie d . A b o u t TU V N O RD G ro u p : Fo u n d e d in th e y e a r 1 8 6 9 , d u rin g th e In d u s tria l Re v o lu tio n , th e TUV N O RD w a s e s ta b lis h e d a s a n in d u s tria l s e lf- c o n tro l o rg a n iz a tio n fo r p ro v id in g in d e p e n d e n t, n e u tra l, th ird p a rty s e rv ic e s . W ith a c u rre n t w o rk fo rc e o f o v e r 1 4 ,0 0 0 e m p lo y e e s a c ro s s 7 0 c o u n trie s g lo b a lly , th e TU V N O RD G RO UP is o n e o f th e w o rld 's la rg e s t In s p e c tio n , C e rtific a tio n & Te s tin g o rg a n iz a tio n s . A b o u t TU V In d ia : TU V In d ia Priv a te Lim ite d w a s e s ta b lis h e d in 1 9 8 9 a s p a rt o f th e G e rm a n RW TUV g ro u p 's In d ia n o p e ra tio n s . Be in g o n e o f th e firs t C e rtific a tio n Bo d ie s to s ta rt o p e ra tio n s in In d ia , TU V In d ia h a s b e e n c lo s e ly a s s o c ia te d w ith th e q u a lity re v o lu tio n in In d ia . Th e s c o p e o f a u d it c o v e re d 2 0 m a n u fa c tu rin g p la n ts o f V BL in In d ia w h ic h it
  • p e ra te d
d u rin g th e p e rio d A p r'1 8 - M a r'1 9 . Ke y w a te r c o n s e rv a tio n in itia tiv e s in c lu d e d Ra in w a te r h a rv e s tin g , Po n d s a d o p tio n , d e v e lo p m e n t & m a in te n a n c e , W a s te w a te r m a n a g e m e n t
  • n th e p rin c ip le s o f re d u c e , re u s e a n d re c y c le , fo r o p tim a l
c o n s u m p tio n . Ke y fin d in g s o f th e re p o rt: Pa ra m e te r Q u a n tity W a te r c o n su m p tio n 2 .9 1 m n KL W a te r re c h a rg e 4 .9 6 m n KL N o . o f p o n d s a d o p te d 6 4 To ta l a re a o f a d o p te d p o n d s 0 .9 m n sq . m . N o . o f tre e s p la n te d 2 6 ,0 0 0 + 1 9
slide-21
SLIDE 21

C o n fe re n c e C a ll D e ta ils

2 0
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SLIDE 22

A b o u t Us

(a PepsiCo franchisee)

Va run Be ve ra g e s Lim ite d (VBL ) is a ke y p la ye r in b e ve ra g e ind ustry a nd o ne o f the la rg e st fra nc hise e o f Pe p siC o in the w o rld (o utsid e USA). The C o m p a ny p ro d uc e s a nd d istrib ute s a w id e ra ng e o f c a rb o na te d so ft d rinks (C SDs), a s w e ll a s a la rg e se le c tio n o f no n-c a rb o na te d b e ve ra g e s (NC Bs), inc lud ing p a c ka g e d d rinking w a te r so ld und e r tra d e m a rks o w ne d b y Pe p siC o . Pe p siC o C SD b ra nd s p ro d uc e d a nd so ld b y VBL inc lud e Pe p si, Die t Pe p si, Se ve n-Up , Mirind a O ra ng e , Mirind a Le m o n, M o unta in De w , Se ve n-Up Nim b o o z Ma sa la So d a , Eve rve ss, Sting , G a to ra d e a nd Slic e Fizzy Drinks. Pe p siC o NC B b ra nd s p ro d uc e d a nd so ld b y the C o m p a ny inc lud e Tro p ic a na Slic e , Tro p ic a na Frutz, Tro p ic a na Juic e s (100%, De lig ht, Esse ntia ls), Nim b o o z, A m b ie nt te m p e ra ture va lue a d d e d d a iry b e ve ra g e s a s w e ll a s p a c ka g e d d rinking w a te r und e r the b ra nd A q ua fina . VBL ha s b e e n a sso c ia te d w ith Pe p siC o sinc e the 1990s a nd ha ve o v e r tw o a nd ha lf d e c a d e s c o nso lid a te d its b usine ss a sso c ia tio n w ith Pe p siC o , inc re a sing the num b e r o f lic e nse d te rrito rie s a nd sub -te rrito rie s c o ve re d b y the C o m p a ny, p ro d uc ing a nd d istrib uting a w id e r ra ng e o f Pe p siC o b e ve ra g e s, intro d uc ing va rio us SKUs in the p o rtfo lio , a nd e xp a nd ing the d istrib utio n ne tw o rk. As o n d a te , VBL ha s b e e n g ra nte d fra nc hise s fo r va rio us Pe p siC o p ro d uc ts a c ro ss 27 Sta te s a nd 7 Unio n Te rrito rie s in Ind ia . Ind ia is the la rg e st m a rke t a nd c o ntrib ute d ~78% o f re ve nue s fro m o p e ra tio ns (ne t) in Fisc a l 2019. VBL ha s a lso b e e n g ra nte d the fra nc hise fo r va rio us Pe p siC o p ro d uc ts fo r the te rrito rie s o f Ne p a l, Sri La nka , M o ro c c o , Za m b ia a nd Zim b a b w e .

Fo r m o re info rm a tio n a b o ut us, p le a se v isit www.var

unpepsi.com o r c o nta c t:

Ra j G a n d h i / D e e p a k Da b a s

V a ru n Be v e ra g e s L td Te l: +91 124 4 6 4 3 1 0 0 / +91 124 4 6 4 3 5 0 8 E- m a il: ra i.g a n d h i@ ric o rp .in

d e e p a k.d a b a s@ ric o rp .in A n o o p Po o ja ri

C D R Ind ia Te l: +91 22 66 45 1211 / 9 8 33 090 434 E- m a il: a n o o p @ c d r-in d ia .c o m 2 1
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SLIDE 23

Th a n k Y o u !