Varun Beverages is lining up more capital investment in its home market of India and in Africa.
The PepsiCo bottler indicated it is working on an unspecified number of new facilities in India.
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It is also embarking on plans for another plant in Congo, where it has just started production.
“We are making significant progress on new facilities across India, which are on track to be commissioned before the key season next year,” Varun Beverages chairman Ravi Jaipuria said.
Output at the group’s new greenfield facility in Congo has just started.
Jaipuria said: “In response to strong demand and our limited presence in the region, we have swiftly ramped up the facility to 100% utilisation on a three-shift basis. This performance has encouraged us to move forward with expansion plans including backward integration and a second facility, expected to commence operations in the next calendar year.”
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By GlobalDataJust Drinks has approached Varun Beverages for further details on its plans in both countries.
Jaipuria’s comments were made alongside the publication of the company’s financial results for the first nine months of its financial year.
Revenue rose 22% to Rs163.19bn. Profit after tax grew 24.5% to Rs24.39bn.
Last week, Varun Beverages set out plans for a fundraising round.
The publicly-listed company is planning to raise funds through a QIP, or qualified institutional placement.
The group, listed on the Bombay Stock Exchange, said in a filing it is looking to bring in Rs75bn through the issuance of new shares.
Varun Beverages’ board has approved the plan, which will see the shares issued in at least one tranche, subject to shareholder approval.
