“Consumer demand is there and that is not a real challenge for us,” Varun Beverages’ management told investors during the April-June earnings call. “Of course, competition is there. However, they will get their share, and we will get ours.” The comment exudes the company's confidence in operations, but it is also the quarter's most telling admission.What makes this particularly significant is that Varun Beverages isn't just another bottler. As PepsiCo's second-largest franchisee globally, handling more than 90% of PepsiCo India's beverage sales, Varun Beverages is effectively PepsiCo in India.
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