India was among the international markets where PepsiCo reported “broad-based increases” in both its food and beverage businesses during the third quarter of 2026, helping to drive the performance of the segment.
In the convenient foods segment, PepsiCo said organic revenue growth was broad-based, with India featuring among the best-performing markets.
Similarly, in beverages, India was among the major contributors to organic revenue growth in the third quarter ended on September 5, 2026.
The company also said it held or gained market share in the beverages and savoury snacks in India during the period.
PepsiCo’s international organic revenue growth accelerated to 8 per cent in the third quarter, marking its 22nd consecutive quarter of at least mid-single-digit organic revenue growth. Its core operating profit increased 16 per cent, while core operating margin expanded by 105 basis points.
PepsiCo’s Asia Pacific Foods net revenue for the 12-week (3-month) period increased 10 per cent, reflecting organic volume growth and a 1-percentage-point impact of favourable foreign exchange translation.
“Unit volume grew 11 per cent, primarily reflecting broad-based increases, led by India,” said PepsiCo in its earnings.
Asia Pacific Foods consists of convenient food businesses in Asia Pacific, including China, Australia and New Zealand, as well as India.
PepsiCo’s International Beverages Franchise (IB Franchise) business reported an 8 per cent rise in net revenue during the quarter, supported by organic volume growth and effective pricing actions.
Its “unit volume grew 5 per cent, primarily reflecting broad-based increases, led by India, partially offset by declines in China and Mexico,” it said.
Even for 36 Weeks, which is a year-to-date (YTD) period covering the first three quarters of its financial year, Asia Pacific Foods’ net revenue increased 11 per cent, reflecting organic volume growth.
On a YTD basis, PepsiCo’s “Unit volume grew 10 per cent, primarily reflecting growth in India and China.”
Similarly, in IB Franchise, PepsiCo’s YTD Net revenue increased 10 per cent with organic volume growth and effective net pricing.
“Unit volume grew 4 per cent, primarily reflecting broad-based increases, led by India, partially offset by a decline in Mexico,” it said.
PepsiCo’s net revenue for the third quarter ended September 5, 2026 rose 5.6 per cent to USD 25.27 billion from USD 23.94 billion in the corresponding quarter a year earlier.
Commenting on the result, Chairman and CEO Ramon Laguarta said: “Our third-quarter results featured strong net revenue growth, an acceleration in organic revenue growth with organic volume growth across both global beverages and convenient foods.
“The results reflect the scale and resilience of the international business, the ongoing evolution of the global portfolio and an improved presence in underpenetrated channels and occasions,” he said.
India is one of PepsiCo’s fastest-growing markets globally, where the company operates across carbonated soft drinks, juices, sports drinks and a wide portfolio of snacks under brands such as Lay’s, Kurkure and Doritos.
It is expanding its manufacturing footprint, backed by an investment of around Rs 5,700 crore by 2030 to scale up capacity and strengthen its regional footprint.
India is currently among PepsiCo’s top 13 markets globally. PepsiCo’s India had a turnover of Rs 9,789 crore in 2025. Its bottling business is handled by franchise partner Varun Beverages, whose standalone revenue (mainly India) stood at Rs 15,070.7 crore.
PTI
