About Varun Beverages Ltd

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We are the one of the largest franchisee in the world (outside US) of carbonated soft drinks (“CSDs”) and non-carbonated beverages (“NCBs”) sold under trademarks owned by PepsiCo. We produce and distribute a wide range of CSDs, as well as a large selection of NCBs, including packaged drinking water. PepsiCo CSD brands produced and sold by us include Pepsi, Diet Pepsi, Seven-Up, Mirinda Orange, Mirinda Lemon, Mountain Dew, Seven-Up Nimbooz Masala Soda, Seven-Up Revive, Evervess Soda. PepsiCo NCB brands produced and sold by us include Tropicana Slice, Tropicana Frutz (Lychee, Apple and Mango), Seven-Up Nimbooz as well as packaged drinking water under the brand Aquafina. In addition, we have also been granted the franchise for Ole brand of PepsiCo products in Sri Lanka.

We have been associated with PepsiCo since the 1990s and have over two and half decades consolidated our business association with PepsiCo, increasing the number of PepsiCo licensed territories and sub-territories covered by us, producing and distributing a wider range of PepsiCo beverages, introducing various SKUs in our portfolio, and expanding our distribution network. As of March 31, 2016, we have been granted franchises for various PepsiCo products spread across 17 States and two Union Territories in India. Our share of PepsiCo beverages volume sales ,based on sales to end customers, increased from 26.46% in Fiscal 2011 to 44.12% in Fiscal 2015, computed on basis of our Sales Volume and Euromonitor Report data on PepsiCo sales volumes in India. Although, India is our largest market, we have also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Mozambique and Zambia. In addition, we are in the process of setting up greenfield facility in Zimbabwe in anticipation of franchise rights being granted by PepsiCo Inc. for such territory.

As of June 30, 2016, we operated 16 production facilities across India and five production facilities in our international licensed territories. In addition, we have set up backward integration facilities for production of preforms, crowns, corrugated boxes, plastic crates and shrink-wrap films in certain of our production facilities to ensure operational efficiencies and quality standards.

We are part of the RJ Corp group, a diversified business conglomerate with interests in beverages, quick-service restaurants,dairy and healthcare. Our Promoter and Chairman Mr. Ravi Kant Jaipuria has an established reputation as an entrepreneur and business leader and is the only Indian to receive PepsiCo’s International Bottler of the Year award, which was awarded in 1997.

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Key Milestones

  • 1995

    Incorporation of our Company as public limited company


  • 1996

    VBL started operation at Jaipur in 1996


  • 1999

    Started operations in Alwar, Jodhpur and Kosi


  • 2004

    Merger of DBL with our Company pursuant to the order of High Court of Delhi dated October 6, 2004


  • 2012

    Merger of VBIL with our Company pursuant to the order of High Court of Delhi dated March 12, 2013


  • 2013

    Our Company acquired the business of manufacturing and marketing of soft drink beverages in Delhi, India


  • 2015

    Business transfer agreement through which our Company acquired Pepsi India’s business of manufacturing, marketing, selling and distributing soft drink beverages and syrup mix in the Indian states of Uttar Pradesh, Uttarakhand, Himachal Pradesh, Haryana and the Union Territory of Chandigarh


  • 2015

    Business transfer agreement through which our Company acquired Pepsi India’s business of manufacturing, marketing, selling and distributing soft drink beverages and syrup mix in Bazpur, Jainpur, Satharia and Panipat


  • 2015

    Our Company acquired the business of selling and distribution of soft drinks beverages and syrup mix in one district undertaking situated in Punjab


  • 2015

    Incorporation of Varun Beverages (Zimbabwe) (Private) Limited


  • 2016

    Our Company acquired entire shareholding of Arctic International Private Limited in Varun Beverages Mozambique Limitada


  • 2016

    Our Company acquired entire shareholding of Arctic International Private Limited in Varun Beverages (Zambia) Limited

Following is the list of Material Creditors as on June 30, 2016, as per the policy approved by the Board of Directors:

Name Amount Due (INR million)
Shreya Petrochem Limited 109.65
OHMI Industries Limited 92.81
Vijayanagar Sugar Private Limited 124.07

Following is the list of amounts due to Small scale undertakings as on June 30, 2016 which individually exceeds an amount of INR 2.5 million:

Name Amount Due (INR million)
Calcutta Paper Industries 4.21

Please note that this list is based purely on our internal records as of 30th June, 2016. It would not include bills, invoices, vouchers, in relation to which the Company or its Subsidiaries may be in discussions with such counter party or which have not been received by them until the closure of the books of accounts. As an ongoing entity, the Company or its Subsidiaries would record such new amounts or modify existing amounts when discussions are completed satisfactorily.

Inclusion of such amount here would not give rise to a cause of action for any counterparty. This list is only being provided to meet compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

The Company and its Subsidiaries also confirm that there are currently no pending cases relating to this list.