Core Viewpoint - Hindustan Coca-Cola Beverages (HCCBL) anticipates decent growth in FY26 despite facing disruptions in the first half due to adverse weather and macroeconomic pressures [1][6]. Company Developments - HCCBL is encouraged by favorable macro conditions such as rapid urbanization and rising disposable income, leading to continued investments in capacity, portfolio, and distribution [2][11]. - The board of HCCBL has been reconstituted following The Coca-Cola Company's divestment of a 40% stake to Jubilant Bhartia Group [3][4]. - Four members from Jubilant Bhartia Group have joined the HCCBL board, indicating a strategic partnership [3]. Financial Performance - In FY25, HCCBL's revenue from operations decreased by 9% to ₹12,751.29 crore, while net profit fell by 73% to ₹756.64 crore, attributed to a high base from previous gains [7]. - On a like-for-like basis, HCCBL's revenue actually increased by 5.9% in FY25 compared to FY24 [7][8]. - The adjusted comparable revenue growth for FY25 was 5.9%, with a Profit Before Tax margin of 7.2% and an EBITDA margin of 13.2% [8]. Growth Strategy - HCCBL is heavily investing in distribution expansion, including opening new outlets and increasing distribution points, which are seen as primary growth levers [9][11]. - The company has invested ₹6,500 crore over the last two years in India, with ₹3,100 crore in capacity expansion last year and ₹3,400 crore the year before [11]. - HCCBL currently operates 14 manufacturing locations, including two new greenfield plants in Telangana and Maharashtra [12]. Market Outlook - HCCBL expects to maintain a growth trajectory in the second half of FY26, capitalizing on improved weather conditions and upcoming festivals [9][10]. - The company remains focused on driving growth despite temporary setbacks, with confidence in the robust growth story of India [10].