Prowess__beverages

8/7/2019 Prowess__beverages

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Beverage

Non-Alcoholic Beverages Alcoholic Beverages

Non-carbonated Carbonated Fruit Based Grain

Fruit Juices,Coffee,Tea,PackagedWater

Colas,Soda,Tonic Water

Wine,Brandy

Beer,Whisky

A beverage is a drink specifically prepared for humanconsumption. Beverages almost always largely consist ofwater. Drinks often consumed include: Water (both flat or

carbonated),Juice based drinks, Soft drinks, Sports andEnergy drinks,Alcoholic beverages like beer or spirits,Coffee, tea ,Dairy products like milk. Commonly, drinksare filled into containers, like glass or plastic bottles, steelor aluminum cans as well as cardboard supportedpackages, like the "TetraPak" or others. Filling of beverages can be donecold, hot, ambient and cold-aseptic filling to mention the latest trend ofbeverage marketing and technology.The beverage is mainly categorized into two major categories based uponthe alcoholic and nonalcoholic nature of the drink. Non-Alcoholic beveragesare further o two types based upon carbon content. These beverages containFruit juices, Coffee, Tea, Soda, Colas. The Alcoholic beverages are basedupon the fruit content and grain. It may be Wine, Brandy, Whisky or Beer.

Beverage Overview


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India has a population of more than 1.150 Billions which is just behind

China. According to the estimates, by 2030 India population will be around1.450 Billion and will surpass China to become the World largest in terms ofpopulation. Beverage Industry which is directly related to the population isexpected to maintain a robust growth rate.The price stability throughout theyear has contributed to the increase in domestic liquor sales.

The Indian beverage market offers hot options.According to Dabur, the fruit beverages industry in India now stands at Rs1100 crores (approx. Euro 180 million) and the market has grown at the rateof 30% where Dabur India, through the new launch Real Burrst, is looking atestablishing a market share of 4-5% in next 2-3 years.

Part of the industry of fast moving consumer goods is also the beverageindustry. The total beverage industry in India is being estimated to grow at17% this year, according to experts. "Food and beverages segment has notsuffered despite the slowdown in the economy. FMCG in our stores has donevery well. In fact, we registered 10-15% growth in this segment last year,"said a spokesperson at Spencer's Retail Ltd.

Beverage majors like Coca Cola India, for example, again reported growingsales. Coca-Cola in India reported a solid first quarter 2009 results not only

despite a challenging economic environment, but also with unit case volumeincreasing by 31%. And eight quarters out of the 11 quarters had a doubledigit growth

To foreign observers of the market, these figures might sound unbelievable,as Western markets are saturated and have not seen such figures for longtime. But in India, various positive factors drive the beverage markets. Oneis the rising number of people in the middle class with extra money to spend

Indian Beverage Industry


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on new beverages. Another factor is the sheer size of the number of peoplein India. Even the rural households, as long as the monsoon is good, getpurchasing power and can participate in consumer markets. Where ever thepurchasing power is still not big enough, companies offer smaller packs forRs. 10 or Rs. 5, especially to be seen in the snack market. Hot summers in

India also help a bit to sell beverages.

The large untapped market potential for store-bought non-alcoholicbeverages, in particular carbonated beverages, juice based drinks andenergy or sports drinks among urban/suburban consumers in India.Approximately 120 billion litres of beverages are consumed by Indians everyyear, but only 5% represent store-bought packaged beverages. The majorityof Indian consumers (75%) still consume non-alcoholic store-boughtbeverages less than once a day, highlighting a large untapped marketopportunity, particularly in the carbonated drinks and juice or juice-basedcategories (estimated to be worth $1.5 Billion and $.25 billion respectively).In order to increase consumption and penetration of such beveragesmanufacturers will have to address the two primary reasons why someIndians abstain entirely, that is, health concerns and undesirable taste.

India is a booming market for the beverage industry as well. It alreadyaccounts for about ten per cent of global beverage consumption today. Thismeans that the country has the third-largest beverage consumption after theUSA and China. But that is not the end of the road. Market analyses indicatethat beverage sales in India will be increasing by more than 60 per cent

between 2008 and 2012. Since India is (still) a country of tea and coffeedrinkers, packaged cold drinks have enormous potential. Packaged water,beer, spirits and carbonated drinks are recording what rates are in somecases high double-digit growth. All in all, annual per capita consumption ofpackaged beverages is supposed to triple from 2.6 litres in 2000 to 8.7 litresin 2012.

Demand for milk and milk-based beverages are also rising. India is theworlds biggest producer and consumer of milk, since milk plays a major rolein the Indian diet. The consumption of milk and milk-based beverages hasincreased by an annual average of 2.7 per cent in the last four years andmost of them (65 per cent) are sold loose / unpackaged. The proportion ofthe market accounted for by packaged milk and dairy products areincreasing, however. In the past four years, for example, demand for milkfilled in pouches has grown by 4.5 per cent annually, while the fi gure formilk in cartons is about 25 per cent. The rising consumption is making itnecessary for appropriate investments to be made by the beverage industry.


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The sector is highly fragmented and 95 per cent of these producers havesmall or very small operations. Of this, the health beverage industry is

valued at $230 million.

The total soft drink (carbonated beverages and juices) market is estimatedat 284 million crates a year or $1 billion. The market is highly seasonal innature with consumption varying from 25 million crates per month duringpeak season to 15 million during offseason. The market is predominantlyurban with 25 per cent contribution from rural areas. Coca cola and Pepsidominate the Indian soft drinks market. Mineral water market in India is a65 million crates ($50 million) industry. On an average, the monthlyconsumption is estimated at 4.9 million crates, which increases to 5.2 millionduring peak season.

Share of Volume by Beverage Category of India


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INDIAN BEVERAGE MARKETSHARE OF VOLUME BY CATEGORY

Segment 2002 2003 2004 2005 2006 2007Milk 10.3% 10.4% 10.5% 10.6% 10.8% 11.1%

Tea 6.3% 6.4% 6.5% 6.6% 6.4% 6.5%

BottledWater

0.2% 0.2% 0.3% 0.4% 0.4% 0.4%

Coffee 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%

DistilledSpirits

0.1% 0.1% 0.1% 0.1% 0.1% 0.2%

CarbonatedSoft Drinks

0.2% 0.2% 0.2% 0.1% 0.2% 0.2%

Beer 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%FruitBeverages

0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Wine -- 0.0% 0.0% 0.0% 0.0% 0.0%

Subtotal 17.3% 17.6% 17.8% 18.1% 18.2% 18.7%

All Others* 82.7% 82.4% 82.2% 81.9% 81.8% 81.3%

TOTAL 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Source: Beverage Marketing Corporation

PER CAPITA CONSUMPTION IN INDIA

Key Figures on Indian Beverage Indust


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Indian Beverage Market CAGR[2007-2010]:21% India ranked 3rd in largest beverage consumption after the USA and

China Total Indian Beverage Consumption every year:120 billion liters Fruit Beverages Market size: Rs 1100 crores (approx. Euro 180 million) Fruit Beverage market growth rate: 30% Majority of Indian consumers:75% consume Non-alcoholic beverages

and 25% Alcoholic Beverages Carbonated Drinks Market size: $1.5 Billion Juice or juice-based Drinks Market size: $.25 billion Health beverage industry is valued at $230 million Indian Beverage Industry is 10% of Global beverage consumption

today. Milk-based beverages consumption has increased by an annualaverage of 2.7 per cent in the last four years

Total packaged coffee market size: 19,600 tonnes or $87 million. The Indian soft drink market is worth Rs. 21,600 million a year with a

growth of around 7%. The total soft drink (carbonated beverages and juices) market is

estimated at 284 million crates a year or $1 billion. Peak season soft drink consumption : 25 million Off-season soft drink consumption: 15 million The market is predominantly urban with 25 per cent contribution from

rural areas. Coca cola and Pepsi dominate the Indian soft drinks market. Indian Mineral water market size : 50 million industry.


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The global health and wellness trends in the beverage sector are beginningto notice an increasing level of activity in India.

Economic drivers: With strong economic drivers of consumer

spending, India is a very different market from that of the 1980s or1990s.With a GDP of USD800 billion and a GDP growth rate in 2005-06of over 8 percent, India is now the third largest economy in Asia. Andthis has not been the result of some freak surge in growth. AverageGDP growth of the last 10 years has been 6.5 percent per annum. Andmost significantly, the stepping up of GDP growth is driven primarilyby domestic demand rather than exports.

Demographic drivers: Macro economic factors tell only one part ofthe story. There are compelling demographic trends in the country thatpromise new and sustained opportunities for beverage product

suppliers who can read right the signals.

The country boasts an expanding middle class that is currently 350 millionstrong (a population larger than the total population of the United States orthe European Union). Increased urbanization and rising disposable incomesare creating new and large target markets for beverage products that gobeyond commodity status and command higher prices. The rapid growth inthe retail sector (over 20 percent per annum) is just one confirmation of theincreasing buying power of this middle class.

There is today a growing health and wellness consciousness amongconsumers and an increasing importance given to fitness and healthylifestyle choices. Changing work and lifestyle habits leave less time for homecooking and therefore spur demand for convenience and complete nutritionfrom meal replacements. There is a greater inclination to self-care ratherthan medicate, a greater awareness of the functional benefits of healthbeverages and a greater willingness to pay a premium for such beverages.

With these strong drivers of growth, it is not surprising that the beverageindustry in India has begun to respond with products that are marketedclearly on a health and wellness platform.

However, to set the record straight, health and wellness is not a wholly newplatform for the Indian market. India has, for decades, had a thriving health

Beverages for Health and Wellness in the Indian Market

The beverage industrys response towards Health and Wellness


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food drinks market. Market leader, GlaxoSmithKline ConsumerHealthcare (GSKCH), has had iconic brands Horlicks, Boost, Viva and

Maltova create 'top-of-the-mind' recall across generations of Indians. Othersuppliers, Cadbury (with Bournvita), Nestle (with Milo), Heinz (withComplan) and Gujarat Co-operative Milk Marketing Federation (GCMMF)(with Nutramul and now Amul Shakti) also enjoy a loyal following. In thenon-carbonated beverages sector, Parle Agro's Frooti remains the largestbrand in the fruit drink segment, while Dabur's Real Fruit Juice leads thejuice segment.

The fact is that there has all along been a strong multinational presence inbeverage market and more recently this has been witnessing the emergenceof Indian multinationals across this sector.

However, much of the marketing for health food drinks in the past has beengeneral health and energy positioning, rather than the focus on specificbenefits or ingredients that is characteristic of most mature health foodmarkets. This is now changing and the specific initiatives of some companiesare going a long way to creating a truly dynamic health and wellnessbeverage sector in India.

Global market leader in Probiotic fermented milk drinks, Yakult, hasteamed up with Danone to start manufacturing its probiotic fermented milkdrink in India from 2007. Calcium-fortified beverages are a rapidly growing

market.

Some examples of brands that have introduced calcium-fortified productsare Amul Shakti, Coca-Cola Indias Mazza, and malted drinks such asHorlicks (GSKCH), Milo (Nestle), Complan (Heinz), Anlene (BritanniaNew Zealand Foods) and Protinex (EAC Nutrition). GCMMF launched sportsdrink 'Stamina' in early 2006. Red Bull was launched in India in 2003.

Carbonated beverage giants Coke and Pepsi have also planned to widen theirproduct portfolio with health-based beverages (non-carbonated). PepsisGatorade is already on the market. And in what must be among the mostsignificant recent commercialization efforts of a traditional Indian drink,Amul Masti Spiced Buttermilk was launched (in a 200 ml tetra pack),marketed on the platform of being free of colour, preservatives, acids andsucrose sugar.


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Social Issues

For the alcohol industry the social concerns are numerous, ranging fromassociated disease as well as health and safety impacts from high levels ofalcohol consumption, to under-age drinking, and in developing countrycontexts the portion of spending on alcohol versus basic needs. Domestic

violence and an exacerbation of poverty have made alcohol abuse the singlemost important problem for women in India. The report points out that asprosperity levels increase across Asia, we can expect to see increasing levelsof alcohol consumption. This presents both an opportunity for listedcompanies in Asia, but given the potential negative social impacts, it alsopresents significant challenges.

Indian Beverage Distribution & Marketing Network

Issues Related to Indian Beverage Market


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Soft drink companies are advised to anticipate government regulations,particularly in relation to their marketing approaches to children. Companiesneed to be innovative in creating healthier soft drink products as in the caseof PepsiCo and Coca Cola focusing on a low sugar, natural sweetner for theirproducts and Vietnamese and Chinese brands tapping into the demand for

alternatives to carbonated soft drinks.

Companies should assess their supply chain risks and put in place codes ofconduct, monitoring and capacity building initiatives to prevent these. Asconsumers become more aware of supply chain issues, good supply chainmanagement can create a competitive advantage.Companies that rely on agricultural supply chains, particularly large numbersof small holding farmers, should look to developing partnerships withgovernment, local NGOs and international agencies to better manage socialrisks.

Governance IssuesA typical challenge in the Indian beverage sectors fight against corruption isthe complex interrelationship between politics and the private sector. Stronggovernance is clearly vital for companies to ensure the integrity of theirorganizations, relationships with consumers and government authorities toavoid corrupt business practices.Companies should look to providing more transparency and accountability interms of the selection of board members, remuneration, links betweenremuneration and performance, diversity of the board and decision makingprocesses. Alcohol companies should ensure a high level of transparency in

terms of the financial support provided for industry groups that in turn lobbynational governments for changes in alcohol policiesCompanies should put in place initiatives and get involved in collective actionto raise corporate integrity, especially in relation to corruption and bribery.

Environmental IssuesCompanies need to first assess to what extent they and their suppliers

depend on water and the associated risks. This should be done inconsultation with key stakeholders.

Companies should measure their water footprint and look to how they canbest manage water resources through enhanced processes andinfrastructure. Companies should implement rigorous water testing andmonitoring systems and install treating equipment. Water pollution andtreatment is already a focus of Asian listed companies and with the growingemphasis on regulation and enforcement this looks set to increase.Companies need to realize that global commitments to improve waterefficiency can only be implemented locally, requiring versatility and local


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management support. Companies should disclose water performance and theinitiatives that they are putting in place. Companies need to assess their

contribution to climate change, put in place measures to reduce emissionsand waste and report on progress.

Non-alcoholic beverages are broadly classified ascarbonated drinks, non-carbonated drinks and hotbeverages. India n on-alcoholic drinks market to growat 15% CAGR. The fruit juices and fruit-based drinksmarket is close to Rs 5,000 crore ($1.13 billion),growing at 35-40 per cent annually. The carbonated

drinks market is close to Rs 6,000 crore ($1.36 billion) with growth at 10-12per cent.

India has witnessed radical shift in consumption of non-alcoholic drinks overthe recent past. Fast expanding middle class population that is currentlyaround 350 million, increased urbanisation and rising disposable income aresome of the major reasons contributing to this change.Indian non-alcoholic drinks market was estimated at around Rs 216 billion in2008 and is forecast to grow at a CAGR of around 15% during 2009-2012.

Growing health consciousness among Indias young population has brought

about a revolution in the Indian non-alcoholic drinks market. It has beenseen that cola sales have fallen dramatically due to rising health concernsand this seems to have benefited the countrys non-carbonated drinksmarket such as energy drinks and juices, the company said.

According to the segment level analysis, the highest growth will be seen inthe fruit/vegetable juice market which is forecast to grow at a CAGR ofaround 30% in value terms during 2009-2012. It will be closely followed bythe energy drinks segment at a CAGR of around 29% during the sameperiod. There is a greater awareness of the functional benefits of health

beverages and a greater willingness to pay a premium for such beverages.With these strong drivers of growth, it is not surprising that the beverageindustry in India has begun responding with products that are marketedclearly on a health and wellness platform.

In India, the Coca-Cola and Pepsi soft drink brands suffered a setback inAugust of last year due to a product contamination scare. Both have cut

Indian Non-Alcoholic Beverage Market


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profit margins to the bone in order to fend off competition from low-pricedlocal fruit drinks.

Indian consumers are accustomed to drinking a variety of locally-produced

soft drinks that are sold in small stands throughout the country. Rural India

is still a highly price-sensitive marketplace, so the major soft drinkcompanies are forced to cut profit margins in order to compete there.

India's purchasing power parity per capita of US$2,850 is representative of a

nation in which the average consumer has insufficient income to engage in

discretionary spending. Nevertheless, during the hot season, spur-of-the-

moment beverage sales are commonplace. In order to position themselves

for sales growth, the major soft drink companies priced a 200-milliliter bottle

at the equivalent of 11 U.S. cents. Although that price is not sustainable

beyond the short term, management hopes that it will be enough to wrest

market share away from local products and substantially increase salesvolume in 2004.

Beverage companies cannot afford to ignore India's rural consumers if they

wish to expand market share. According to data release by the PRB, only 28

percent of India's population lived in urban areas in 2003. On average, rural

consumers have a lower income level than their urban counterparts and

demand lower-cost beverage options.

In order to remain cost competitive, soft drink companies have to contain

the transportation costs involved in expanding their distribution network into

widespread towns and villages. Faced with high fuel and vehicle costs,

companies are turning to less expensive means oftransportation including

ox carts and rickshaws.

Another challenge facing the major soft drink companies is regaining

consumer confidence in the aftermath of a well- publicized scandal over the

presence of pesticides in some soft-drink products. A major publicity

campaign aimed at regaining consumer confidence seems to be working, but

bottlers need to avoid any more issues that would throw product safety into

doubt.

Recovering and maintaining an image of quality will be a key weapon in thestruggle to take market share away from locally produced fruit beverages.Indian consumers are ready to opt for soft drinks, but not at a premiumprice.
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India soft Drink markets provide the latest retail

sales data, allowing you to identify the sectorsdriving growth. ISD identifies the leading companies, the leading different

types of brands and offers strategic analysis of key factors influencing the

market - be they new product developments, packaging, Innovations,

economic / lifestyle influences, distribution or pricing issues. India Soft

Drinks can access in online strategic market analysis and an interactive

statistical database of volume and value market sizes including on-trade and

off-trade, company and brand shares, distribution and pricing data.

India soft drinks industry continued on its path to recovery from the low

growth seen between 2005 and 2006, with higher volume growth in 2008

than that seen in 2007. The mature sectors of bottled water and

fruit/vegetable juice and carbonates saw a dynamic year, with companies

refreshing their products brand image and packaging to attract to the new

consumers. showing product categories, such as energy drinks and

reconstituted 100% juice, saw high and double-digit growth rates, as

companies increased their products penetration in India. Off-trade volume

growth was slightly higher than on-trade volume growth, its convenient on-

the-go packaging, company sponsored chillers in kiranas and attractive

supermarket displays fueled off-trade sales across the hole marketing

shares.

Multinationals Companies are Coca-Cola India and Pepsi Co India

Holdings saw their off-trade value shares of soft drinks in India decline over

the review in period, as other national and regional players updated their

brand portfolios and increased the volume and demand of their brands in

India. The bottled water players, such as Parle Bisleri and Dhariwal

Industries, were particularly successful in expanding their consumer base

through a concerted effort to increase their manufacturing capacity and

move to newer regions within India.The Dabur India and Parle Agro

benefited from their first mover advantage in being present in high-growth

emerging product categories, such as 100% juice and other non-cola

carbonates from all companies in India.

Indian Soft Drink Market


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Market size for FY00 was around 270 m.n cases (6480mn bottles). The

market witnessed 5- 6% growth in the early90s. Presently the market

growth has growth rate of 7- 8% per Annam compared to 22% growth rate

in the previous year. The market size for FY01 was 7000 mn bottles. India

soft drink market is developing more than every year.

All market preference is highly regional based. different flavors of soft drink

companies marketing succeed in various cities, While cola drinks have main

markets in metro cities and northern states of UP, Punjab, Haryana etc.

Orange flavored drinks are popular in southern states. Sodas too are sold

largely in southern states besides sale through bars. Western markets have

preference towards mango flavored drinks. Diet coke presently constitutes

just 0.7% of the total carbonated beverage market.

Soft Drinks Available in:

All Soft drinks are available in glass bottles, aluminum cans and PET bottles

for home consumption. Fountains also dispense them in disposable

containers Non-alcoholic soft drink beverage market can be divided into fruit

drinks and soft drinks. Soft drinks can be further divided into carbonated and

non-carbonated drinks. Cola, lemon and oranges are carbonated drinks while

mango drinks come under non carbonated category and different tastes and

flavors available.

India soft drinks Market Segmnetation:

Segmented on the basis of types of products into cola products and non-

cola products. Cola products account for nearly 61-62% of the total soft

drinks market. The brands that fall in this category are Pepsi, Coca- Cola,

Thumps Up, diet coke, Diet Pepsi etc. Non-cola segment which constitutes

36% can be divided into 4 categories based on the types of flavors available,

namely: Orange, Cloudy Lime, Clear Lime and Mango. different flavored

drinks are named in different names in all categories.

India Alcoholic Drinks Market expected to grow over 9% CAGR during 2009-2013.India represents one of the fastest growing alcoholic drinks markets inthe world on account of rise in disposable income and greater acceptance ofalcoholic drinks as a life style product especially by countrys middle classconsumers.


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In addition, one of the lowest per capita alcohol consumption rate coupledwith enormous consumer base is all set to drive the market which will securean exponential growth curve of over 9% CAGR (in volume terms) by 2013.

Company Overview

Established in 1886, Coca-Cola is the worlds most ubiquitous brand. Thecompany and its subsidiaries are present in over 200 countries employingover 49,000 individuals and generating revenues to the tune of US$ 21billion. The Coca-Cola Company markets four of the worlds top-five softdrink brands; its beverage products encompass nearly 400 brands, including

non-carbonated beverages such as waters, juices, sports drinks, teas andcoffees. The companys net income registered a CAGR of 7.2 per cent over a10-year period. Till date, Coca-Cola has invested over US$ 1 billion in Indiaand employs over 5,000 people. The Coca- Cola system in India comprises25 wholly owned Bottling operations and another 35 franchisee-ownedbottling operations. A network of 27 contract-packers also manufactures arange of products for the company.

Latest Update Coca-Cola net revenue up 5%,July 2010

India sales jump 22%,July 2010 Net revenue of $8.26 billion July,2010

Business in IndiaCoca-Cola is a leading player in the Indian beverage market with a 60 per

cent share in the carbonated soft drinks segment, 36 per cent share in fruitdrinks segment and 33 per cent share in the packaged water segment.

The Leading Beverage Companies And Their Competitive Brands

Coca Cola Company


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0

10

20

30

40

50

60

Share%

Carbonated

Soft drinks

Fruit Drinks Packaged

Drinking

Water

Drinks Segment

Coca Cola Business In India

S

Factors for successCoca-Cola has succeeded in spite of an extremely price-sensitive consumerwith entrenched beverage consumption habits tea, nimbu-paani(lemonade) and a fragmented and geographically dispersed retail market,and a high tax environment.

Diverse product portfolioIn keeping with its goal of emerging as the single largest entity in thebeverage market, Coca-Cola has a presence in multiple segments.

Carbonated soft drinks (Coke, Diet Coke, Fanta, Thums Up, Spriteand Limca) Fruit juice based drinks (Maaza) Powdered soft drinks (Sunfill) Coffee and tea (Georgia) Bottled water (Kinley) and Bottled soda (Kinley Soda)

The company leverages this comprehensive portfolio, which includes a mix ofits global brands as well as the locally acquired brands like Thums Up,Limca and Maaza

It sells these beverages in multiple volumes of 200 ml, 300ml, 500ml,1.5 l bottles, tetra packs as well as through vendors (fountain machines) Explores new markets with the introduction of new drinks (Georgia,coffee and tea segment) and flavours (Vanilla Coke)


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Availabilty:

BrandsCoca ColaThe worlds favorite drink. The worlds most valuable brand. Themost recognizable word across the world after OK. Coca Cola hasa truly remarkable heritage from a humble beginning in 1886,it isnow the flagship brand of the largest manufacturer, marketer and distributorof non- alcoholic beverages in the world.

Thumps upIt is a leading sparkling soft drink and most trusted brand in India.Originally introduced in 1977, Thums up was acquired by the CocaCola Company in 1993.This brand known for its strong, fizzy tasteand its confident, mature and uniquely masculine attitude.

SPRITESprite is global leader in the lemon line category, is the largestparkling beverage brand in India. Launched in 1999,Sprite with itscut thru perspective has managed to be a true teen icon.

FANTAFanta has entered in Indian market in the year 1993.Fanta stands for itsvibrant color,tempting taste and tingling bubbles.

LIMCABorn in 1971,Limca has remained unchallenged as the No. 1 sparkilingDrink in the cloudy lemon segment.The main point in the brand is theFreshness.

PULPY ORANGEThe company developed a process that eliminated 80 % of the water inorange juice.forming a frozen concentrate that when reconsititutedcreated orange juice.

GLASS PET CAN FOUNTAIN200ml,300ml 500ml,600ml,1250ml,1500ml,2000ml,2250ml 330ml Various

sizes


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MAAZAMango.It is a fruit associated with good times like no other.Apy called theking o fruits.

KINLEYKinley water understands the importance and value of the life givingfore.Kinley water comes with the assurance of safety from the Coca-ColaCompany. Coca-Cola introduced Kinley with reverse osmosis along withlatest technology.Available in 500ml,100ml in PET.

Hindustan Coca-Cola Mktg. Co. Pvt. Ltd. Mar 2003 Mar 2004

Rs. Crore (Non-Annualised) 12 mths 12 mths

-

Total income 703.89 712.37

Sales 700.73 709.16

Income from financial services 0 0

Total expenses 793.44 836.09

Raw material expenses 0 0

Power, fuel & water charges 1.31 1.21Compensation to employees 23.1 25.01

Indirect taxes 76.45 68.89

Selling & distribution expenses 50.62 61.3

Other operational exp. of indl. enterprises 0.19 0.46

Other oper. exp. of non-fin. service enterprises 0 0

PBDITA -86.89 -126.34

PBDTA -86.89 -126.34

PBT -87.38 -127.07

PAT -87.38 -127.07

Net worth -192.54 -319.61

Paid up equity capital (net of forfeited capital) 0.01 0.01

Reserves & surplus -192.55 -319.62

Total borrowings 0 0.51

Current liabilities & provisions 351.88 506.92

Total assets 159.34 187.82

Gross fixed assets 2.99 3.37

Net fixed assets 2.42 2.07

Financial Report


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Investments 0 0

Current assets 156.92 185.75

Loans & advances 0 0

Growth (%)

Total income 1.20473369

Total expenses 5.37532769PBDITA Error

PAT Error

Net worth Error

Total assets 17.8737291

Profitability ratios (%)

PBDITA Net of P&E/Total income net of P&E -12.3428377 -17.7351657

PAT Net of P&E/Total income net of P&E -12.4124508 -17.8376406

PAT Net of P&E/Avg. net worth 0 0

PAT/Avg. net worth 0 0

PAT Net of P&E/Avg. total assets -73.2054384

PAT/Avg. total assets -73.2054384

Liquidity ratios (times)

Current ratio 0.55771965 0.4283112

Debt to equity ratio 0 0

Interest cover Error Error

Debtors (days) 30.2356661

Creditors (days) 163.834963 222.51095

Efficiency ratios (times)

Total income / Avg. total assets 4.10398663

Total income / Compensation to employees 30.4714286 28.4834066

Product details

Hindustan Coca-Cola Mktg. Co. Pvt. Ltd.Product/smanufactured/traded

Capacity

Production qty

Purchase qty

Purchasevalue

Openingstocks qty

Closingstocks qty

Salesqty

Salesvalue

/Units /Units /Units Rs.Crore

/Units /Units /Units Rs. Crore

Mar

2009

(12

mths)

Soft Drinks InRgb'S

0 0 330305 3.66 56421 0 384672 5.98

Cases Cases Cases

Cases

Soft Drinks(Pet)

0 0 154639 5.31 37650 0 189336 8.17

Cases Cases Cases

Cases

Others 0 0 0 1.19 0 0 0 16.15

Soft Drink In 0 0 14107 0.55 7352 0 21345 1.05


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Can Cases Cases Cases Case

sCases

Company Overview

PepsiCo entered India in 1989 and has grown to become one of the countrysleading food and beverage companies.One of the largest multinationalinvestors in the country, PepsiCo has established a business which aims toserve the long term dynamic needs of consumers in India. PepsiCo nourishesconsumers with a range of products from treats to healthy eats that deliverjoy as well as nutrition and always, good taste.

PepsiCo Indias expansive portfolio includes iconic refreshment beveragesPepsi, 7 UP, Mirinda and Mountain Dew, in addition to low calorie optionssuch as Diet Pepsi, hydrating and nutritional beverages such as Aquafina

drinking water, isotonic sports drinks - Gatorade, Tropicana 100% fruitjuices, and juice based drinks Tropicana Nectars, Tropicana Twister andSlice, non-carbonated beverage and a new innovation Nimbooz by 7Up. Localbrands Lehar Evervess Soda, Dukes Lemonade and Mangola add to thediverse range of brands.

The group has built an expansive beverage and foods business. To supportits operations, PepsiCo has 36 bottling plants in India, of which 13 arecompany owned and 23 are franchisee owned. In addition to this, PepsiCosFrito Lay foods division has 3 state-of-the-art plants. PepsiCos business isbased on its sustainability vision of making tomorrow better than today.

PepsiCos commitment to living by this vision every day is visible in itscontribution to the country, consumers and farmers.

Brands

Foods

PepsiCO India


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PepsiCos food division, Frito-Lay, is the leader in the branded salty snackmarket and all Frito Lay products are free of trans-fat and MSG. Itmanufactures Lays Potato Chips, Cheetos extruded snacks, Uncle Chippsand traditional snacks under the Kurkure and Lehar brands. The companyshigh fibre breakfast cereal, Quaker Oats, and low fat and roasted snack

options enhance the healthful choices available to consumers. Frito Layscore products, Lays, Kurkure, Uncle Chipps and Cheetos are cooked in RiceBran Oil to significantly reduce saturated fats and all of its products containvoluntary nutritional labeling on their packets.

Beverages

PepsiCo Indias expansive portfolio includes iconicrefreshment beverages Pepsi, 7 UP, Nimbooz, Mirinda

and Mountain Dew, in addition to low calorie optionssuch as Diet Pepsi, hydrating and nutritional beveragessuch as Aquafina drinking water, isotonic sports drinks -Gatorade, Tropicana100% fruit juices, and juice baseddrinks Tropicana Nectars, Tropicana Twister and Slice.Local brands Lehar Evervess Soda, Dukes Lemonade and Mangola add tothe diverse range of brands.

PEPSI

Pepsi is a hundred year old brand loved by over 200million people worldwide. The largest single selling softdrink brand in India is the ubiquitous'socialiser'at everyoccasion. Youngistaan loves it. 200 million peopleworldwide love it. But what has made Pepsi the singlelargest selling soft drink brand in India is actually a formula concocted acentury ago in a far away continent


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7UP

7UP, the refreshing clear drink with natural lemon and limeflavour was created in 1929. 7UP was launched in Indiain 1990 and its international mascot Fido Dido was used

for advertising in 1992 to position the brand as a cooldrink for youngsters.7UPs brand communication is premised onthe products natural lemon flavor , guaranteed to provideuplifting lemon refreshment that raises ones spirits.

Aquafina

In India, Aquafinas journey began with the Bombay launchin 1999 and it was rolled out nationally by the year 2000.On the strength of its brand appeal and distribution,Aquafina has become one of India's leading brands ofbottled water in a relatively short span. Bottled across India

in 19 plants, Aquafina ensures its availability across morethan half a million outlets. To cater to varied consumerneeds and occasions, it is available in various pack sizes like300ml, 500ml, 1 ltr, 2 ltr bottles and in bulk water jars of 25lts.

Gatorade

Gatorade, Worlds No.1 Sports Drink, was indeed born on the fieldof sports! Gatorade was launched in India in 2004 and over theyears, has become an integral part of the kitbags of many topsports people. Top sports stars and professionals have tried andendorsed Gatorade in India including Sachin Tendulkar, IrfanPathan, Md. Kaif, S. Sreesanth Ramji Srinivasan and Javagal Srinath.

Mountain Dew

It is a soft drink that exhilarated like no other because of its daring,high-energy, active, extreme citrus taste. Challenge, a can doattitude, adventure and exhilaration is deeply entrenched in its brandDNA and the brand has always celebrated the bold and adventurousspirit of the youth.

This exhilaration and excitement of Mountain Dew has always been reflectedin the high-adrenaline advertising of the brand that connected it to outdooradventure.

In 2007, the brand was re-launched with a completely new, punchierformulation with communication that aimed at forging a strong emotionalconnect with our audience.


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Nimbooz

Nimbooz was launched in India this year on the 28th ofFebruary 2009. Latest addition to portfolio of Pepsi Beverages.The product is available in 3 convenient formats, 350ml PET,200ml RGB and 200ml Tetra at magic price points of Rs.15, Rs.10 and Rs. 10 respectively.

Slice

Slice was launched in India in 1993 as a refreshing mango drink andquickly went on to become a leading player in the category.In 2008,Slice was relaunched with a 'winning' product formulation whichmade the consumers fall in love with its taste. With refreshed packgraphics and clutter breaking advertising, Slice has driven strong appealwithin the category.

Tropicana

Tropicana Premium Gold was re-launched as Tropicana 100% in year2008.It continues to select the best in fruit to craft high-qualityjuices, create original products, pioneer innovative processes andexplore new markets for its products. It is devoted towards ahealthful lifestyle by ensuring that the products are naturally

nutritious and provide the daily benefits that one needs.Categoriesin India, Tropicana comes in 2 varieties: 100% Juices (sold asTropicana 100%) and Juice beverages & nectars (sold as Tropicana).

20 oranges= 1L Tropicana 100% Orange juice8 apples= 1L Tropicana 100% Apple juice1.25 Kg grapes= 1L Tropicana 100% Grape juice1.3 Kg Mixed fruits= 1L Tropicana 100% Mixed fruit juice

Mirinda

Mirinda is an international soft drink brand from Spain that waslaunched in India in 1991. In 2008, the brand decided to up the anteon the brand from a being led by physical attribute-taste, to deliver abrand philosophy that resonates with the audience. Now, Mirinda'sbold and vibrant colour, great orangey taste and sparkling bubblesencourages one to be more carefree, spontaneous and playful.


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Executive Summery

Pepsico India Holdings Pvt. Ltd. Mar 2004 Mar 2005 Mar 2007 Mar 2008

Rs. Crore (Non-Annualised) 12 mths 12 mths 12 mths 12 mths

-

Total income 945.47 1803.57 2450.91 2831.85

Sales 924.28 1753.31 2413.02 2803.83

Income from financial services 5.81 6.97 5.08 3.6

Total expenses 1063.1 1871.92 2464.56 2829.63

Raw material expenses 190.43 413.6 564.03 693.02

Power, fuel & water charges 29.19 41.36 75.47 88.97

Compensation to employees 68.99 109.84 157.98 195.52

Indirect taxes 233.08 302.59 355.5 387.73

Selling & distribution expenses 72.77 259.97 344.58 443.55

Other operational exp. of indl. enterprises 0 0 0 0

Other oper. exp. of non-fin. service enterprises 0 0 0 0

PBDITA 43.62 179.25 221.47 225.6

PBDTA -0.81 136.98 176.14 189.86

PBT -124.67 -64.77 -1.53 28.43

PAT -124.71 -64.83 -5.02 23.75

Net worth 837.17 707.8 638 655.61

Paid up equity capital (net of forfeited capital) 1456.25 1126.25 1126.25 1126.25

Reserves & surplus -619.08 -418.45 -488.25 -470.64

Total borrowings 921.1 888.95 686.74 742.51

Current liabilities & provisions 225.14 478.58 470.8 607.14

Total assets 2114.56 2245.02 1795.54 2005.26

Gross fixed assets 1497.21 1868.51 2065.26 2255.09

Net fixed assets 905.82 1022.79 849.11 909.73

Investments 335.03 231.5 234.95 234.86

Current assets 565.58 706.71 564.35 738.7

Loans & advances 176.98 114.33 147.13 121.97

Growth (%)

Total income 90.7590934 16.5727872 15.5427984Total expenses 76.0812718 14.7429617 14.8127861

PBDITA 310.935351 11.1547102 1.86481239

PAT Error Error Error

Net worth -15.4783377 -5.05431213 2.76702149

Total assets 6.16960502 -10.5691342 11.6800517


PBDITA Net of P&E/Total income net of P&E 3.80265127 8.05440929 9.240558 7.58221562

Financial Report


26/44

PAT Net of P&E/Total income net of P&E -14.1928587 -5.76188293 -0.09896622 0.40667892

PAT Net of P&E/Avg. net worth 0 -13.1769549 0 1.76869381

PAT/Avg. net worth 0 -8.39239597 0 3.67189493

PAT Net of P&E/Avg. total assets -4.66971589 0.60197853

PAT/Avg. total assets -2.97413971 1.2497369

Liquidity ratios (times) Current ratio 0.75509332 0.62886864 0.74131726 0.75613651

Debt to equity ratio 1.10025443 1.25630662 1.07661436 1.13270381

Interest cover -1.98717083 -1.4066714 1.02404589 1.45103525

Debtors (days) 23.7478683 19.7514204

Creditors (days) 77.3172972 95.8567425 67.4426645 73.1360919


Total income / Avg. total assets 0.82744525 1.49021991

Total income / Compensation to employees 13.7044499 16.4199745 15.5140524 14.4836845

Income & expenditure

Pepsico India Holdings Pvt. Ltd. Mar 2004 Mar 2005 Mar 2007 Mar 2008

Rs. Crore (Non-Annualised) 12 mths 12 mths 12 mths 12 mths

-

Total income 945.47 1803.57 2450.91 2831.85

Sales 924.28 1753.31 2413.02 2803.83

Industrial sales 753.24 1597.69 2167.9 2685.58

Income from non-financial services 171.04 155.62 245.12 118.25

Income from financial services 5.81 6.97 5.08 3.6

Interest 5.8 6.97 4.44 2.91

Dividends 0 0 0 0.37

Treasury operations 0.01 0 0.64 0.32

Other income 5.31 6.33 6.97 5.6

Prior period income & extraordinary income 10.07 36.96 25.84 18.82

Change in stock -7.08 3.52 8.63 21.53

Total expenses 1063.1 1871.92 2464.56 2829.63

Raw material expenses 190.43 413.6 564.03 693.02

Packaging expenses 117.91 252.62 328.95 404.74

Purchase of finished goods 103.03 126.83 200.07 179.87

Power, fuel & water charges 29.19 41.36 75.47 88.97

Compensation to employees 68.99 109.84 157.98 195.52

Indirect taxes 233.08 302.59 355.5 387.73

Royalties, technical know-how fees, etc. 5.66 6.24 10.35 10.76

Lease rent & other rent 3.46 8.58 12.79 17.17

Repairs & maintenance 23.44 29.44 36.75 48.98

Insurance premium paid 1.96 2.34 2.77 2.27

Outsourced mfg. jobs (incl. job works, etc.) 0 0 4.64 7.32


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Pepsico India Holdings Pvt. Ltd.

Product/smanufactured/traded

Capacity

Productionqty

Purchaseqty

Purchasevalue

Opening

stock

s qty

Closing

stock

s qty

Salesqty

Salesvalue



Mar2010

(12mths)

Aerated & NonAerated Beverages

857.54 901.73 114.13 248.38

37.21 42.9 1010.17

2078.41

Lakhcases

Lakhcases

Lakhcases

Lakhcases

Lakhcases

Lakhcases

Potato Chips 39975 33669 0 0 1547 1398 33818 816.86

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Namkeens 62421 47918 0 0 1528 1539 47907 692.53

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Agro Products 0 0 19948 31.92 0 0 19948 32.69

Tonnes

Tonnes

Others 0 0 0 4.4 0 0 0 60.48

Other Snacks 0 5341 0 0 0 0 0 0

Tonnes

Biscuits 3995 1373 0 0 0 101 1272 20.62

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Company Overview

Dabur India Limited has marked its presence with significant achievementsand today commands a market leadership status. Our story of success is

based on dedication to nature, corporate and process hygiene, dynamicleadership and commitment to our partners and stakeholders. The results ofour policies and initiatives speak for themselves. the three major strategicbusiness units (SBU)

Consumer Care Division (CCD) Consumer Health Division (CHD) International Business Division (IBD)

Dabur India Limited


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Financial HighlightLeading consumer goods company in India witha turnover of Rs. 2834.11 Crore (FY09)

Brands

Dabur Fruit based drinks:

Ral

Ral has been the preferred choice of consumers when it comesto packaged fruit juices, which is what makes India's No. 1Fruit Juice brand. A validation of this success is that Ralhas been awarded Indias Most Trusted Brand status forfour years in a row.Today, Ral has a range of 14 excitingvariants - from the exotic Indian Mango, Mausambi, Guava & Litchi tointernational favourites like Pomegranate, Tomato, Cranberry, Peach,Blackcurrant & Grape and the basic Orange, Pineapple, Apple & Mixed Fruit.This large range helps cater different needs and occasions and has helpedRal maintain its dominant market share.

India's No. 1 Fruit Juice brand Voted as a Superbrand Voted by consumers as the most trusted fruit juice brand for four years

in a row Ral awarded the Readers Digest Trusted Brand Gold Award 2009 inthe food and beverages category

Ral Activ

Ral Activ is a range of unsweetened juices that contain NOADDED SUGAR, COLOURS OR PRESERVATIVES. Real Activ juicesare made from concentrated juices. After the juice is pressed fromthe fruit, the water is removed to reduce trans portation load. At

our factories, during the manufacturing of juices/ juice blends, weadd back the equivalent quantity of water. Thus, Ral Activ Juices have asmuch juice as present in respective fruit.

Ral Activ Juices contain

0% Added Sugar


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No Added Colour or Preservatives Naturally rich in antioxidant Nutrients Helps meet 1 serve of your 5-a-day

Ral Burrst

Ral Burrst, the latest addition to Dabur's Foods portfolio, has arange of light & refreshing fruit beverage.Available in 4 excitingflavours ofMixed Fruit, Crispy Apple, OrangeBytez and Mango Mania, Ral Burrst promises an experiencethat delivers refreshment through lightness of fresh fruits toyou.Ral Burrst comes in an attractive tetrapack highlighting the'Lite and Refreshing' qualities of fruits that it brings to you. All 4variants are made available in 1 liter and 200 ml packs, priced at Rs. 65 andRs. 15 respectively.

LEMONEEZ

A 250 ml bottle of Lemoneez is equal to juice 25 lemonsapproximately.

Executive Summary

Dabur Foods Ltd. [Merged] Mar 2002 Mar 2003 Mar2004

Mar2005

Mar2006

Mar 2007

Rs. Crore (Non-Annualised) 12 mths 12 mths 12mths

12 mths 12 mths 12 mths

-

Total income 53.35 69.24 87.25 130.18 193.05 243.61

Sales 53.28 69.15 85.8 129.74 190.05 243.4

Income from financial services 0.03 0.01 0 0.32 1.43 0.21

Total expenses 57.02 69.15 85.19 131.06 184.19 239.95

Raw material expenses 0.78 2.51 2.62 9.78 12.08 14.87

Power, fuel & water charges 0 0 0 0 0.13 2.39

Compensation to employees 2.83 2.99 3.85 4.05 7 11.02

Indirect taxes 5.23 7.24 8.98 13.19 11.63 10.89

Selling & distribution expenses 11.19 14.04 15.73 26.34 34.57 42.75

Other operational exp. of indl. enterprises 0 0 0 0 0 0

Other oper. exp. of non-fin. serviceenterprises

0 0 0 0 0 0

Financial Report
http://www.dabur.com/Products-Foods-5%20a%20dayhttp://www.dabur.com/Products-Foods-5%20a%20dayhttp://www.dabur.com/Products-Foods-5%20a%20dayhttp://www.dabur.com/Products-Foods-5%20a%20day


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PBDITA 0.71 2.06 4.62 7.77 16.42 16.9

PBDTA -0.1 0.8 2.74 5.72 14.2 12.96

PBT -1.25 -0.35 1.58 5.71 13.7 10.79

PAT -1.25 -0.35 1.46 5.26 12.1 7.84

Net worth -11.18 -11.53 -10.07 -4.81 17.29 20.24Paid up equity capital (net of forfeited

capital)10 10 10 10 20 20

Reserves & surplus -21.18 -21.53 -20.07 -14.81 -2.71 0.24

Total borrowings 18.27 26.64 24.62 33.65 25.79 58.32

Current liabilities & provisions 13.97 4.06 6.01 11.91 16.62 28.57

Total assets 21.06 19.17 20.56 40.75 59.7 110.39

Gross fixed assets 0.02 0.01 0.07 0.07 12.39 40.57

Net fixed assets 0.01 0.01 0.06 0.05 11.86 36.1

Investments 0 0 5.05 5 5 0

Current assets 18.27 17.71 15.28 27.52 41.14 73.99

Loans & advances 0.45 0.26 0.13 8.14 1.66 0.18

Growth (%)

Total income 43.6069987 29.7844424 26.0109763

49.2034384

48.2946689

26.1901062

Total expenses 22.7556512 21.2732375 23.1959508

53.8443479

40.5386846

30.2730876

PBDITA Error 190.140845 124.271845

68.1818182

111.325611

2.92326431

PAT Error Error Error 260.273973

130.038023

-35.206611

6

Net worth Error Error Error Error Error 17.0618855

Total assets 32.9545455 -8.97435897 7.25091288

98.2003891

46.5030675

84.9078727


PBDITA Net of P&E/Total income net ofP&E

1.61199625 2.97515887 3.84033516

5.96865878

8.50556851

7.05636058

PAT Net of P&E/Total income net of P&E -2.06185567 -0.50548816 0.16292331

4.04055923

6.26780627

3.33730142

PAT Net of P&E/Avg. net worth 0 0 0 0 193.910256

43.3253397

PAT/Avg. net worth 0 0 0 0 193.910256

41.7799094

PAT Net of P&E/Avg. total assets -5.96205962 -1.73999503 0.70475711

17.1587017

24.0915879

9.55964489

PAT/Avg. total assets -6.77506775 -1.73999503 7.34960987

17.1587017

24.0915879

9.21864895


Current ratio 0.82186235 0.96617567 0.760199

0.73269436

1.31019108

1.29488974

Debt to equity ratio 0 0 0 0 1.49161365

2.88142292

Interest cover -0.35802469 0.72222222 1.13829787

3.78536585

7.17117117

3.81218274

Debtors (days) 37.3700263 36.236081 25.9498834

20.6919608

21.3372797

31.6938168

Creditors (days) 91.0669342 21.3674572 25.5066699

31.7898635

28.9318119

38.5504193


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Total income / Avg. total assets 3.4231633 3.76406632 4.52306895

4.24661556

3.84370333

2.86448351

Total income / Compensation toemployees

18.8515901 23.1571906 22.6623377

32.1432099

27.5785714

22.1061706


Dabur Foods Ltd. [Merged] Mar2002

Mar2003

Mar2004

Mar2005

Mar2006

Mar2007

Rs. Crore (Non-Annualised) 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths

-

Total income 53.35 69.24 87.25 130.18 193.05 243.61

Sales 53.28 69.15 85.8 129.74 190.05 243.4

Industrial sales 0 0 0 0.04 6.43 26.67

Income from non-financial services 53.28 69.15 85.8 129.7 183.62 216.73

Income from financial services 0.03 0.01 0 0.32 1.43 0.21

Interest 0.03 0.01 0 0.32 0.51 0.04

Dividends 0 0 0 0 0 0

Treasury operations 0 0 0 0 0 0

Other income 0.04 0.08 0.13 0.12 1.57 0

Prior period income & extraordinary income 0 0 1.32 0 0 0

Change in stock 2.42 -0.44 -0.6 6.14 3.24 4.18

Total expenses 57.02 69.15 85.19 131.06 184.19 239.95


Packaging expenses 0.42 0.43 0.78 1.91 3.67 13.28

Purchase of finished goods 32.79 37.23 47.28 68.44 98.08 122.42

Power, fuel & water charges 0 0 0 0 0.13 2.39

Compensation to employees 2.83 2.99 3.85 4.05 7 11.02

Indirect taxes 5.23 7.24 8.98 13.19 11.63 10.89Royalties, technical know-how fees, etc. 0 0 0 0 0 0

Lease rent & other rent 0.13 0.14 0.1 0.39 1.21 2.25

Repairs & maintenance 0 0 0 0 0.16 0.71

Insurance premium paid 0.02 0.02 0.07 0.13 0.21 0.54

Outsourced mfg. jobs (incl. job works, etc.) 0.02 0.63 0.8 1.62 6.72 1.56

Outsourced professional jobs 0.11 0.12 0.18 0.25 0.31 0.47

Directors' fees 0 0 0 0 0 0


Travel expenses 0.97 0.94 1.04 1.1 1.88 2.5

Communication expenses 0.1 0.1 0.02 0.02 0.05 0.32

Printing & stationery expenses 0 0 0 0 0 0

Miscellaneous expenses 0.24 0.23 0.26 1.03 1.95 3.91



0 0 0 0 0 0

Share of loss in subsidiaries/JVs,etc. 0 0 0 0 0 0

Lease equalisation adjustment 0 0 0 0 0 0

Loss on securitisation of assets/loans 0 0 0 0 0 0

Fee based financial service expenses 0.08 0.08 0.1 0.1 0.19 0.23

Treasury operations expenses 0 0 0 0 0 0


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Total provisions 0 0 0 0 0 0

Write-offs 0 0.04 0.22 0.2 0.03 0.49

Less: Expenses capitalised 0 0 0 0 0 0

Less: DRE & expenses charged to others 0 0 0 0 0 0

Prior period & extraordinary expenses 0.15 0 0 0 0 0.29

Interest paid 0.81 1.26 1.88 2.05 2.22 3.94Financial charges on instruments 0 0 0 0 0 0

Expenses incurred on raising deposits/debts 0 0 0 0 0 0

Depreciation 0 0 0.01 0.01 0.5 2.17

Amortisation 1.15 1.15 1.15 0 0 0

Provision for direct taxes 0 0 0.12 0.45 1.6 2.95

PAT -1.25 -0.35 1.46 5.26 12.1 7.84

PBDITA 0.71 2.06 4.62 7.77 16.42 16.9

PBDTA -0.1 0.8 2.74 5.72 14.2 12.96

PBT -1.25 -0.35 1.58 5.71 13.7 10.79

Product details

Dabur Foods Ltd. [Merged]

Product/smanufactured/t

raded

Capacity

Production qty

Purchaseqty

Purchase

value

Opening

stocks qty

Closing

stocks qty

Salesqty

Salesvalue



Mar

2007

(12

mths)

Fruit Juices 0 5198.61 31866.93

91.18 2550.87

2374.79

37241.6

202.97

000litres

000litres

000litres

000litres

000litres

VegetablePastes

0 426.49 1284.29

6.09 56.65 229.04

1538.38

11.46

Tonnes Tonnes Tonnes

Tonnes

Tonnes

Others 0 0 0 25.15 0 0 0 28.04

Brief profile

Glaxosmithkline Consumer Healthcare Ltd. Website: www.gsk-ch.in

Glaxosmithkline Consumer Healthcare Ltd.


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Industry Malted milk foods Industry P/E 43.65ROC Reg. No. 2257 Incorporation Year1958Ownership Glaxo (F) GroupRegistered office address Patiala Road, Nabha Patiala Punjab

Tel no. 311156Fax no. 3746276

ISIN Code INE264A01014BSE Demat Code 500676BSE Listing group BNSE Scrip Code GSKCONSFace value (Rs) 10Beta 0.453

Listed On Bombay , Delhi , National

Company Background

GlaxoSmithKline Consumer Healthcare Ltd is the second largest listed dairy

products company in India with an annual turnover of Rs.1,270 crore. It operates in

a niche segment, malted milk foods and commands a huge market share of 74.5 per

cent (2006--07) followed by Cadbury India (17.2 per cent). Incorporated in 1958,

the company is an Indian associate of GlaxoSmithKline plc U.K. It was formerly

known as Smithkline Beecham Consumer Healthcare Ltd and got re--christened in

April 2002, following the global merger of its parent company, erstwhile

SmithKline Beecham with Glaxo Wellcome plc in December 2000.

The company's product portfolio is grouped under three heads; viz nutritional,

vending and over the counter (OTC) products.

The nutritional business contributed 93.2 per cent to the company's total

revenues in 2006. The segment offers a number of health food drinks, catering to

different needs of consumers. Available in four flavours, viz; vanilla, toffee, elaichi

and chocolate, its flagship malted food brand, Horlicks, is present in India for more

than last 100 years. Over the years, the company has introduced different variants

of Horlicks drink such as Horlicks Ninja, Junior Horlicks, Mother's Horlicks andHorlicks Lite & Lite Bite, catering to the specific needs of a wide range of

customers, right from pre-school children to adolescents and from pregnant women

to health conscious adults including diabetics. The company boasts to command

more than half of the health food drinks market through the Horlicks brand.

Leveraging upon its popularity, the company has extended the Horlicks brand to

biscuits.


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Besides Horlicks, the company also owns a few other popular health food

drink brands such as Boost, Maltova (chocolate flavoured health food drinks) and

Viva. While Horlicks and Boost are its home grown brands, Maltova and Viva

were acquired from Jagatjit Industries in 2000.

The company has an installed capacity to manufacture 94,060 tonnes of

malted milk products per annum, spread over three facilities located at Nabha

(Punjab), Rajmundry (Andhra Pradesh) and Sonepat (Haryana). It has a strong

marketing and distribution network comprising over 1,800 wholesalers and over

four lakh retail outlets across India.

In order to increase the reach of its nutritional offerings, particularly out ofhome, the company started setting up vending machines in corporates, schools and

hospital from July 2003. Today, there are 500 vending machines across India

offering frothy cups of Horlicks and Boost.

Under its OTC business, the company promotes and distributes a number of

products in diverse categories that are sold withought the doctors' prescription.

Some of its famous brands under this category are Crocin (paracetamol), Eno

(antacid) and Iodex (balm).

Executive Summary

Glaxosmithkline ConsumerHealthcare Ltd.

Dec2004

Dec2005

Dec2006

Dec2007

Dec2008

Dec2009

Rs. Crore (Non-Annualised) 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths-

Total income 1030.36 1141.62 1268.37 1464.67 1795.93 2117.05

Sales 987.82 1092.28 1236.56 1430.61 1747.35 2086.23

Income from financial services 8.32 8.94 12.81 20.15 43.52 24.46

Total expenses 951.39 1072.57 1142.89 1329.33 1653.47 1898.1


Power, fuel & water charges 24.85 27.34 29.93 30.44 44.24 39.64

Financial Data


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Compensation to employees 107.56 121.45 136.37 154.94 171.96 200.7

Indirect taxes 139.17 142.43 116.5 128.39 165.65 117.04




0 0 0 0 0 0

PBDITA 167.46 211.97 236.83 293.24 331.37 402.76

PBDTA 162.21 207.75 233.3 288.63 326.03 398.49

PBT 115.84 165.9 190.59 245.14 284.08 356.47

PAT 73.16 107.15 126.93 162.68 188.33 232.78

Net worth 529.35 475.12 542.72 646.36 760.89 905.11

Paid up equity capital (net of forfeitedcapital)

45.38 42.06 42.06 42.06 42.06 42.06

Reserves & surplus 483.97 433.06 500.66 604.3 718.83 863.05

Total borrowings 1.24 0 0 0 0 0


Total assets 747.45 1097.93 1254.05 1479.38 1764.27 1990.7


Net fixed assets 307.4 283.79 257.89 243.33 226.12 232.28

Investments 0 0 219.68 297.84 0 0

Current assets 433.48 808.84 771.9 932.14 1526.51 1734.57

Loans & advances 0 0 0 0 0 0

Growth (%)

Total income 6.3531549 10.7981676

11.1026436

15.4765565

22.6166986

17.8804296

Total expenses 6.03517454

12.737153 6.55621545

16.313031

24.3837121

14.7949464

PBDITA 3.02060904

26.5794817

11.7280747

23.818773

13.003001

21.5438935

PAT -4.1781270

5

46.4598141

18.4601027

28.1651304

15.7671502

23.6021876

Net worth 8.65147783

-10.244639

7

14.2279845

19.0964033

17.7192277

18.9541195


46.890093 14.2194858

17.9681831

19.2573916

12.8342034


PBDITA Net of P&E/Total income net of P&E 15.4377609

18.1853401

18.5280872

19.5993109

18.4329536

18.8632362

PAT Net of P&E/Total income net of P&E 6.19646812

8.95619635

9.84514498

10.6383709

10.4566416

10.8181405

PAT Net of P&E/Avg. net worth 12.380318

4

20.253467 24.48518

43

26.07057

56

26.65055

96

27.43937

58PAT/Avg. net worth 14.324594

221.334634

224.94105

1627.36233

0526.76567

7727.94477

79

PAT Net of P&E/Avg. total assets 8.69111027

11.0242877

10.5961785

11.3410623

11.5622832

12.174265

PAT/Avg. total assets 10.0560118

11.6127844

10.7934591

11.9029937

11.612227

12.3985012


Current ratio 2.41425787

1.4430172 1.18801367

1.20810814

1.61100733

1.65517143


37/44

Debt to equity ratio 0.0023425 0 0 0 0 0

Interest cover 21.1733333

39.0260664

54.3342776

52.5097614

54.0468165

83.4964871


8.85867177

8.11432522

7.31729822

7.57322517

6.78832152

Creditors (days) 71.3020078

66.0737428

66.2075903

66.2619803

60.450576

80.4869188


Total income / Avg. total assets 1.421049 1.23727362

1.07855509

1.07167186

1.10735129

1.12759889

Total income / Compensation to employees 9.57939755

9.39991766

9.30094596

9.45314315

10.4438823

10.5483308


Glaxosmithkline Consumer HealthcareLtd.

Dec2004

Dec2005

Dec2006

Dec2007

Dec2008

Dec2009


-

Total income 1030.36 1141.62 1268.37 1464.67 1795.93 2117.05

Sales 987.82 1092.28 1236.56 1430.61 1747.35 2086.23

Industrial sales 983.69 1088.64 1213.61 1399.59 1705.21 1961.54

Income from non-financial services 4.13 3.64 22.95 31.02 42.14 124.69


Interest 8.32 8.91 7.15 2.54 18.12 24.46

Dividends 0 0 5.66 17.61 18.03 0

Treasury operations 0 0.03 0 0 7.37 0

Other income 24.28 34.53 16.33 6.23 2.44 2.15

Prior period income & extraordinary income 9.94 5.87 2.67 7.68 2.62 4.21

Change in stock -5.81 38.1 1.45 27.34 45.87 13.83

Total expenses 951.39 1072.57 1142.89 1329.33 1653.47 1898.1Raw material expenses 217.12 251.23 276.01 348.59 472.52 494.46

Packaging expenses 81.47 99.89 111.56 123.02 161.11 169.92

Purchase of finished goods 8.09 1.57 0 0 0 65.23



Indirect taxes 139.17 142.43 116.5 128.39 165.65 117.04

Royalties, technical know-how fees, etc. 33.28 38.05 46.49 54.31 56.45 70.39

Lease rent & other rent 10.16 9.54 9.16 9.25 14.66 17.73

Repairs & maintenance 11.2 11.36 11.89 14.73 14.07 18.5

Insurance premium paid 7.11 6.48 6.31 6.25 5.92 4.9

Outsourced mfg. jobs (incl. job works, etc.) 35.57 44.82 48.29 50.6 68.29 72.08

Outsourced professional jobs 0.53 0.46 0.51 0.6 0.73 0.65

Directors' fees 0 0 0 0 0 0


Travel expenses 9.95 9.66 10.25 9.61 11.31 11.71

Communication expenses 0 0 0 0 0 0

Printing & stationery expenses 0 0 0 0 0 0

Miscellaneous expenses 21.3 25.69 26.39 33.43 42.8 47.81


Fee based financial service expenses 0 0 0 0 0 0


38/44

Treasury operations expenses 0.49 0 0.2 1.27 0 0.27

Total provisions 0.17 0.61 0.12 2.12 1.95 2.66

Write-offs 1.74 0.64 1.01 0.71 4.78 2.11

Less: Expenses capitalised 0 0 0 0 0 0

Less: DRE & expenses charged to others 0 0 0 0 0 0

Prior period & extraordinary expenses 0.01 0.44 0.35 0 1.81 0Interest paid 5.25 4.22 3.53 4.61 5.34 4.27

Financial charges on instruments 0 0 0 0 0 0

Expenses incurred on raising deposits/debts 0 0 0 0 0 0

Depreciation 41.46 41.85 42.71 43.49 41.95 42.02

Amortisation 4.91 0 0 0 0 0

Provision for direct taxes 42.68 58.75 63.66 82.46 95.75 123.69

PAT 73.16 107.15 126.93 162.68 188.33 232.78

PBDITA 167.46 211.97 236.83 293.24 331.37 402.76

PBDTA 162.21 207.75 233.3 288.63 326.03 398.49

PBT 115.84 165.9 190.59 245.14 284.08 356.47

Product details

Glaxosmithkline Consumer Healthcare Ltd.

Product/smanufactured/traded

Capacity

Production qty

Purchaseqty

Purchasevalu

e

Openingstocksqty

Closing

stocksqty

Sales qty

Salesvalue

/Units

/Units /Units

Rs.Cror

e

/Units

/Units

/Units

Rs.Crore

Dec2009

(12mths)

Malted Milkfood/MaltedFood

103600

* 34571 0 0 6801 5427 193.59

1923.67

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Million nos

Cereal Based Beverage @ 2099 0 0 257 529 0 0

Tonnes

Tonnes

Tonnes

Tonnes

Malted Milkfood/MaltedFood (Processed By Third

P.

0 58685 0 0 7788 8443 @ 0

Tonnes

Tonnes

Tonnes

Energy & Protein HealthFoods

22000

* 1279 0 0 308 259 @ 0

Tonnes

Tonnes

Tonnes

Tonnes

Nutritional Food Powder @ 41 0 0 0 8 @ 0

Tonnes

Tonnes

Tonnes

Ghee & Butter 4000 572 0 0 69 108 529 8.78

Tonnes

Tonnes

Tonnes

Tonnes

Tonnes

Biscuits (Nos.) 0 0 138.95

60.69

0 20.92 138.86

* 77.1

Million nos

Million nos

Million nos

Biscuits 0 1112 0 0 1296 0 @ 0


39/44

Tonnes

Tonnes

Tonnes

Nutrition Bar Sweetmeat 0 389 0 0 31 59 9.89 11.22

Tonnes

Tonnes

Tonnes

Million nos

Ready To Drink 0 0 3.25 2.85 0 0 2.45 2.77

Million nos

Million nos

Instant Noodles WithSeasoning

0 0 3.01 1.69 0 0.94 14.05 1.58

Million nos

Million nos

Million nos

Million nos

Miscellaneous Sales 0 0 0 0 0 0 0 5.39

Commission 0 0 0 0 0 0 0 46.72

* Includes others

@ Included elsewhere

Brief profil e

Cadbury India Ltd. Website: www.cadburyindia.com

Industry Chocolate confectionery Industry P/E -73.32ROC Reg. No. 6547 Incorporation Year 1948Ownership Private (Foreign)Registered office address

Cadbury House, 19, Bhulabhai Desai Road, Mumbai Maharashtra

Tel no. 40073100Fax no. 23521698

ISIN Code INE184A01014BSE Demat Code 500793BSE Listing group NSE Scrip Code CADBURYFace value (Rs) 10Beta

Company Background

Cadbury India Limited, incorporated in 1948 is the wholly owned Indian

subsidiary of the UK based Cadbury Schweppes Plc. which is a global

confectionary & beverages company. It was originally known as Cadbury-Fry

(India) Private Limited and was renamed in 1989 as Cadbury India Limited. Its

registered office is in Mumbai.

Dabur India Limited


40/44

It operates in India in the segments of chocolates, Sugar confectionery and

food drinks. Its leading brands in the chocolate segment are Cadbury's Dairy Milk,

Fruit & Nut, Crackle, Temptations, 5 Star, Perk and Celebration gift boxes. In the

Sugar confectionery segment its popular brands are Cadbury Dairy Milk Eclairs

and Halls. In the food drinks segment its popular brands are Bournvita, Drinking

Chocolate and Cocoa Powder. It has also diversified into the snacking segment

with its Cadbury Bytes.

Its manufacturing plants are located in Thane & Induri in Maharashtra,

Malanpur in Madhya Pradesh, and Baddi in Himachal Pradesh. Its sales regional

offices are located in Delhi, Kolkata, Mumbai, Chennai, Bangalore, Cochin, and

Kottayam (Kerala). It has a nationwide distribution network consisting of about 33

sales depots and over a million retail outlets. Its registered office, sales regionaloffices, factories, depots, & cocoa operation office is connected by leased lines,

virtual private network, & VSATs. Its subsidiary Induri Farm Limited trades in

milk and livestock.

Executive Summary

Cadbury India Ltd. Dec 2004 Dec 2005 Dec 2006 Dec2007

Dec2008

Dec 2009


-

Total income 908.06 1023.58 1172.37 1483.67 1776.31 2058.78

Sales 885.28 1006.02 1149.97 1441.92 1751.24 2045.08


Total expenses 875.34 988.05 1101.02 1383.31 1655 1862.27




Indirect taxes 144 146.89 109.47 176.41 186.76 139.83




0 0 0 0 0 0

PBDITA 103.91 115.04 147.13 196.31 242.75 279.72

PBDTA 102.4 114.28 145.59 196.31 238.35 278.51

PBT 68.45 81.7 112.44 162.31 201.89 234.47

Financial Data


41/44

PAT 46.21 45.96 68.81 117.65 165.78 188.63

Net worth 395.99 433.8 392.09 406.13 464.4 530.79

Paid up equity capital (net of forfeitedcapital)

35.71 35.71 34.36 33.2 32.18 31.07

Reserves & surplus 360.28 398.09 357.73 372.93 432.22 499.72

Total borrowings 7.36 8.22 10.01 8.76 41.7 12.17


Total assets 575.99 660.53 703.9 815.25 969.42 1108.17


Net fixed assets 167.33 190.16 247.26 271.17 375.25 505.17

Investments 232.3 258.2 253.42 298.48 2.92 18

Current assets 168.6 161.93 181.89 235.14 581.66 575.79

Loans & advances 0.16 16.33 1.77 2.01 0.23 0.84

Growth (%)

Total income 6.74644692

12.7216263

14.5362356

26.5530507

19.7240626

15.9020666

Total expenses 8.06399842

12.8761396

11.4336319

25.638953 19.6405723

12.5238671

PBDITA -4.5821854

9

10.7111924

27.8946453

33.4262217

23.6564617

15.2296601

PAT 1.22672508

-0.5410084

4

49.7171453

70.9780555

40.9094773

13.7833273

Net worth 10.6364551

2.64148085

-6.8987575

3

7.32538781

14.3476227

14.2958656


14.6773381

6.56593947

15.8190084

18.9107636

14.3126818


PBDITA Net of P&E/Total income net ofP&E

10.6648892

11.2961749

12.3019268

12.1036421

13.6635157

13.5589843

PAT Net of P&E/Total income net of P&E 4.25484641

4.5399865 5.60080769

6.731682 9.33008293

9.1323047

PAT Net of P&E/Avg. net worth 10.160364 11.188373 15.85199 24.6974518

38.0733576

37.7656528

PAT/Avg. net worth 12.2587577

11.0775015

16.663236 29.4780887

38.0871423

37.9083391

PAT Net of P&E/Avg. total assets 7.06101417

7.50816808

9.59521558

12.9769937

18.5715006

18.090191

PAT/Avg. total assets 8.51930717

7.43376573

10.0862631

15.4889247

18.5782245

18.1585395


Current ratio 1.0630517 0.77374809

0.61310547

0.60858762

1.20779086

1.05027087

Debt to equity ratio 0.01858633

0.02022389

0.02645279

0.02156945

0.08979328

0.02292809

Interest cover 41.0927152

109.105263

71.8376623

Error 46.8704545

194.190083


7.59917795

4.66736089

3.92358799

4.08406329

5.21867115

Creditors (days) 64.1976428

77.4966438

96.6327705

103.545739

98.7456881

108.137039



42/44

Total income / Avg. total assets 1.67410562

1.6930291 1.77175457

1.97103894

1.99063132

1.98189248

Total income / Compensation toemployees

11.2718471

10.1525491

10.892595 12.2576834

13.6408386

13.6045728

Sources & Uses of funds

Cadbury India Ltd. Dec2004

Dec2005

Dec2006

Dec2007

Dec2008

Dec2009


-

Sources of funds

Internal sources 63.42 41.57 74.91 62.93 95.66 104.05

Retained profits 38.07 10.46 44.66 28.88 59.29 67.5

Depreciation 25.35 31.11 30.25 34.05 36.37 36.55

External sources 31.35 48.72 16.93 89.27 96.4 65.74

Fresh capital 0 0 -72.7 -1.16 -1.02 -1.11

Share premium reserves 0 0 -71.35 0 0 0

Borrowings -4.98 0.86 1.79 -1.25 32.94 -29.53

Bank/Fin. Inst. borrowings -6.37 2.62 -0.45 -1.98 30.74 -29.74

Debentures & bonds 0 0 0 0 0 0

Borrowings from corporate bodies 0 0 0 0 0 0

Borrowings from group/associated cos 0 0 0 0 0 0

Foreign borrowings 0 0 0 0 0 0

Loan from promoters/directors 0 0 0 0 0 0

Other borrowings 1.39 -1.76 2.24 0.73 2.2 0.21


Sundry creditors 35.71 47.81 75.49 99.76 61.59 94.56

Deferred tax liability -2.27 -1.99 -4.55 6.88 -1.52 5.51

Uses of funds


Capital work-in-progress 14.56 8.14 51.54 -55.51 98.28 28.67

Investments 104.96 25.9 -4.78 45.06 -295.56 15.08

Investment in group cos. 0 0 0 0 0 0

Current assets -41.81 9.5 5.4 53.49 344.74 -5.26

Inventories 3.52 4.05 19.74 28.95 71.79 -22.98

Total receivables -14.47 -17.34 4.78 32.47 5.5 8.14

Sundry debtors 0.46 -13.91 0.69 1.77 6.54 11.42

Loans & advances 0.03 16.17 -14.56 0.24 -1.78 0.61

Loans & advances to group & associatedcos

0 0 0 0 0 0

Expenses paid in advance -6.11 -1.67 2.03 -5.87 4.93 11.29

Cash & bank balance -24.78 8.29 -6.59 -2.3 264.3 -2.32

Deferred tax assets -2.74 -1.04 -0.68 2.57 0.91 -0.99

Total sources/uses 92.5 88.3 87.29 159.08 190.54 175.3


43/44

Product details

Cadbury India Ltd.Product/s

manufactured/tradedCapacity

Productionqty

Purchaseqty

Purchasevalue

Openingstocksqty

Closingstocksqty

Sales qty

Salesvalue

/Units /Units /Units

Rs.Crore

/Unit

s

/Unit

s

/Units

Rs.Crore

Dec2009

(12mths)

Malted Food (Jar/Refill/Tin) 25200 12208631

0 0 94503

4851 1274002

428.62

Tonnes

Tens Tens Tens Tens

Malted Foods

(Jar/Bag/Sachat)

0 61672

.06

0 0 6934

.67

5654

.39

7344

7.12

0

000nos

000nos

000nos

000nos

Cocoa Powder Drink Choc(C) (Tin/Bag)

900 0 0 0 8675 24 0 8.46

Tonnes

Outers Outers

Outers

Outers

Cocoa Powder Drink Choc(C) (Tin/Bag) (Bag)

0 109338

0 0 523 0 10062

0

Bags Bags Bags

Bags

Cocoa Powder Drink Choc(C) (Tin/Bag/Sachet)

0 0 0 0 10.18

0 137.33

0

000nos

000nos

000nos

000nos

Cocoa Powder Drink Choc(C) (Tin/Bag/Jar)

0 117907

0 0 12721

10733

89053

0

Tens Tens Tens Tens

Chocolates, Wafer Biscuits,Confe. (Carton/Bar/Un

0 62267157

0 0 4069751

3274122

52978627

1386.56

Outers Outers

Outers

Outers

Chocolates, Wafer Biscuits,Confe. (Bag/Tin/Tray)

0 17233596

0 0 1820262

1225526

12809887

0

Bags Bags Bags

Bags

Chocolates, Wafer Biscuits,(Bag/Tin/Tray)

0 89222.62

0 0 6707.19

5459.14

98168814

0

000nos

000nos

000nos

000nos

Chocolates, Wafer Biscuits,Confe. (Can/Jar/Pouch)

0 2493710

0 0 894658

640819

6595869

0

Jars Jars Jars Jars

Hardboiled Confectionery &Gums (Jar)

24600 2935554

0 0 591405

489124

5803236

74.61

Tonnes

Jars Jars Jars Jars

Hardboiled Confectionery &Gums (Bag)

0 8203248

0 0 92481

319854

4266351

0

Bags Bags Bags

Bags

Hardboiled Confectionery &Gums (Outers)

0 8119501

0 0 1142781

838437

8183817

36.13

Outers Outers

Outers

Outers


44/44

Hardboiled Confectionery &Gums (Jars)

0 0 0 0 0 0 66601

0

Jars

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