Varun Beverages Ltd: Best FMCG Corporate Governance India 2020


Varun Beverages is one the world’s largest PepsiCo franchisees outside the US. The Indian company, which forms part of the diversified business conglomerate RJ Corp, has consolidated its PepsiCo engagement into a business empire with near-complete national coverage (excluding the states of Ladakh, Andhra Pradesh and Jammu and Kashmir), as well as franchisee rights in Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe. Over the past decade, Varun has seen its share of PepsiCo beverage sales (by volume) in India increase from 24 percent (in 2011) to over 80 percent. The growth-driven company is supported by a leadership team with decades of combined industry expertise and degrees from reputed universities. Varun’s founding chairman, Ravi Kant Jaipuria, has been praised for his entrepreneurial leadership and business acumen. He was named by PepsiCo as the International Bottler of the Year in 1997 — the only Indian to have ever received this honour. Varun’s manufacturing network includes 31 domestic and six international plants, with two in Nepal and one in each of its other markets. High standards and strong governance ensure operational efficiencies throughout the network. Varun aims to please its consumers and its staff, and the company regularly ranks as a preferred employer. It fosters relationships rooted in respect and provides employees with ample opportunities for growth. It seeks to create long-term value for all stakeholders through operational excellence and socio-environmental responsibility. Varun Beverages is a repeat winner of the awards programme, claiming the title of Best FMCG Corporate Governance (India) for the second consecutive year.

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