MAM
Indian soft drink bottlers forecast revenue recovery this fiscal
Hotter summer and deeper penetration expected to drive 15 per cent growth.
MUMBAI: India’s soft drink bottlers are set to fizz back to life thanks to a scorching summer that could turn up the heat on sales. After a subdued performance last year, revenues for the sector are projected to return to their long-term trajectory of around 15 per cent growth this fiscal, according to a report by Crisil Ratings. Summer months, which typically account for nearly 40 per cent of annual sales, are expected to provide a major boost, supported by above-normal temperatures forecast by the India Meteorological Department and the possible influence of El Niño conditions.
The analysis of 13 bottlers across carbonated drinks, juices, and packaged water points to a strong rebound in volumes, driven by both favourable weather and expanded distribution networks. Players have increased bottling capacities by 30–35 per cent over the past two fiscals while also strengthening cold chain infrastructure.
“Players have increased their bottling capacities by 30–35 per cent over the past two fiscals while also expanding distribution and cold chain infrastructure,” said Shounak Chakravarty of Crisil Ratings. “This, along with modest price hikes, should help drive double-digit volume growth and restore revenue momentum.”
However, the outlook is not without challenges. New entrants are gaining ground with products priced at popular points such as Rs 10 and Rs 20, along with indigenous flavours. Their market share has risen to an estimated 6–7 per cent in the last fiscal, up from around 2 per cent a year earlier.
Incumbents are expected to respond by increasing spending on marketing, distribution, and capacity expansion to protect their share. Profitability is also likely to face pressure from rising input costs, particularly packaging, which accounts for 20–22 per cent of total expenses due to higher crude oil prices amid West Asia tensions.
“Intensifying competition and reduced pricing flexibility, along with higher packaging costs, will moderate profitability this fiscal,” said Rucha Narkar of Crisil Ratings. Margins may decline by 200–250 basis points but are still expected to remain healthy at 15–16 per cent, supported by modest price hikes and a growing focus on zero-sugar variants.
Larger bottlers with pan-India presence are better positioned to weather these pressures, benefiting from stronger pricing power and economies of scale. Despite margin compression, cash flows are projected to remain stable, supporting continued investments in capacity and distribution, including visi-coolers at retail outlets.
Capital expenditure intensity is expected to ease slightly this fiscal after a surge last year driven by acquisitions. As a result, key credit metrics such as debt-to-Ebitda and interest coverage ratios are likely to improve, pointing to stable credit profiles for the industry.
In a sector where weather can make or break the season, this year’s hotter summer could be the perfect ingredient for a refreshing rebound in revenues. For India’s soft drink bottlers, the forecast is finally looking fizzy again.
Brands
Info Edge reshuffles senior roles, Ambrish Singh to 99acres, Bhisham Dhingra to lead Shiksha strategy
Leadership changes at Shiksha and 99acres aim to drive sharper growth focus
MUMBAI: Info Edge (India) Limited has approved an internal reorganisation of its education and real estate verticals, setting the stage for leadership changes aimed at sharpening execution and accelerating growth. The move, cleared by the board on April 14 through a circular resolution, will come into effect from May 1, 2026.
The restructuring impacts the company’s Shiksha and 99acres businesses, two key pillars in its portfolio, and involves role changes for senior management personnel. As part of the reshuffle, Ambrish Kumar Singh, previously executive vice president and head of sales and customer delivery for Shiksha, has been redesignated as executive vice president and head of sales and sales enablement at 99acres. A long-time company leader since 2003, Singh is expected to focus on boosting business performance, strengthening client relationships and building high-performing teams in his new role.
Meanwhile, Bhisham Dhingra, who led sales and customer delivery at 99acres, will now take on an expanded mandate as head of sales, strategy and client delivery for Shiksha. With over two decades of experience across global and Indian organisations, Dhingra will spearhead growth strategy, corporate sales and client engagement for the domestic education vertical.
Both executives will continue as senior management personnel, albeit with revised responsibilities aligned to the company’s broader restructuring goals.
Info Edge said the changes are part of ongoing efforts to leverage leadership expertise across business lines and improve operational effectiveness. The company added that the reshuffle is designed to drive stronger outcomes by aligning talent with evolving business priorities.
As Info Edge continues to fine-tune its structure, the latest leadership moves suggest a clear intent to keep its core platforms nimble, competitive and ready for the next phase of growth.
