Elevating the Carbonated Soft Drinks Landscape with a Brand Truly
Dedicated to “Flavours & Fusions”
Company Overview & Introduction
February 2024
Led by a Team with Deep Sector Expertise and Backed by an A-List Investor
JASMEET KHANNA HARGUN SINGH RITESH MATHUR
CEO, CO-FOUNDER COO, CO-FOUNDER FOOD TECHNOLOGIST
Product Strategy | Business Development | Recruitment Operations | Sales | Channel Activation | Production NPD | Compliance | Co-packer Relations
F&B Products: CSD, Juices, Energy drinks, Premium Operations: Procurement & Production, Logistics Expertise: New product development, designing
water, and Alcoholic beverages Channel Expertise: HoReCa, GT, MT, Institutions, product mandates, food safety regulations,
Channel Expertise: HoReCa, GT, MT, Institutions, online Online consumer panels, and quality assurance
New Brand launch: Schweppes, Coke Zero, Minute Trade marketing: POSM, Market implementation Product launch: Laboratory and plant trials
Maid, GreyGoose, Breezer, Qua Retail Formats: Co-founded Cane Juicery, scaled and Industries: Packaged foods, Dairy, QSR
Recruitment: Retail Sales & Marketing roles and training turned cash flow positive
& SOPs Business Development: Strategic alliances
F&B Consulting
Projects Executed by Honorary Secretary Association of Food
the founders Scientist and Technologist, Mumbai Chapter
• Ashish is known for his strategic and long-term
investment approach. He has a remarkable track record of
ASHISH KACHOLIA identifying high-growth potential companies early, F&B
INVESTOR leading to substantial returns over the years. PORTFOLIO
• Aloha is proud to be a part of Ashish’s investment
portfolio
2
CSD Segment Remains a Promising Category with Household Penetration Breaching
50% Mark in 2024 and an Increasing Per Capita Consumption Trends
• Soft drinks drinking habit is now India’s households - bottled soft drinks consumption(1) SECTOR DEFINING TRENDS
50%
well entrenched in Indian
Penetration
households. 47% Growing demand for flavour experiences.
81% of Indian consumers express boredom with traditional cola
• Households are increasingly drinks and are open to exploring new beverage options(3)
accepting CSD at their homes.
FY23 FY24
``
Young consumers enjoy trying new flavours and beverage types.
They are more open to experimenting with unique and exotic drinks,
• Massive headroom for growth – Per
drink consumption
57x 402 contributing to the popularity of specialty coffees, teas, and craft
Per capita soft
capita consumption is still beverages. [Pepsi US launched new flavours: Berry, Lime, and Mango]
substantially lower than other
(L)(4)
18x 125
developing and major economies. 9x 60
7 20
Shift towards low calories, less sugar and less caffeine drinks:
• Intensifying summer weather will Incumbents have been working on reducing sugar contents in their
India Indonesia Brazil China US
catalyze the consumption of soft product [Coca-Cola: Coke Zero, Red Bull: Launched sugar free;
drinks in the country. Expansion in household consumption 2022 --> 2024: 250 ml(2) Pepsi: Launched Pepsi Max]
• CSD market was valued at INR With busier lifestyles, GenZ and Millennials have a preference for
23% 23%
134.60 bn in FY20 and is expected CY24 YoY Sales CAGR in
beverages that are easily accessible, convenient, matching
to reach a INR 349.64 billion by Varun Beverages Ltd* Sales growth(5) CY23-26E(6) multiple occasions.
FY27, at a CAGR of ~15%(7)
25%
• Both Coca Cola and Pepsi (Varun Hindustan Coca-Cola
Sales CAGR (5)
FY22-24 Idea of having a drink along with your meals is on the rise:
Beverages) expect strong growth in Beverages Pvt. Ltd.
With urbanization and increased eating-out instances, people are
India CSD segment *CSD segment contributes > 85% sales
becoming habitual of complementing meals with drinks.
Source: (1) 2023 Kantar ET, 2024 Kantar CNBC; (2) 2024 Kantar CNBC; (3) Research & Markets; (4) India, Indonesia, Brazil, China and US; (5) Annual financial reports (6) Axis Securities May-24 report; (7) Businesswire
3
Flavours Playing a Vital Role Across F&B Categories
Clearly, There is an Appetite for New & Refreshing Flavours in the CSD Market
Consumers have embraced new flavour with enthusiasm…..
START PRESENT
Continuous innovation:
Vanila Mango Fruit & nut Jackfruit Jamun Chocolate 3 Chocolate 4 Chocolate 5 Ice cream brands have been the
Ice-cream frontrunners in bringing new flavours to its
Lychee & Seasonal Persian & customers. (Vadilal alone has 10+
Strawberry Chocolate Peach more fruits Tilgul more chocolate flavour variants)
Cola Apple Jeera masala / Nimbu
Absence of new & innovative flavours:
India’s CSD market has seen very few new
Carbonated Orange Lemon flavour (mostly in traditional flavours only)
Soft Drinks THE GAP launches in the recent past. Customers do
not have many options to choose from and
have to resort to legacy flavours.
Milk Plain Chocolate Strawberry Pista/nuts Thandai banana Mango/fruit Consistently launched new flavours
Soda Flavoured Zero calorie Soda has seen a lot of innovations from
Plain Ginger Lemon Lemon Lime Green Apple Peach
soda soda plain to flavoured and functional.
Water Flavours have been embraced even in the
Plain Mineral Functional Lychee Peach Orange Mango
category as basic as water
Beer and gin have expanded to numerous
Beer & Gin Mild & strong beer One gin
variant
Cloudy
beer Wheat beer Craft
beer
Coffee gin
Pink gin variants/flavours
Cranberry Lemon Watermelon Mango Peach Blackberry Flavour-based, non alcoholic
Alternate substitute of beer, gin & rum Success of Breezer/Coolberg/Svami proves
beverages that Indians have a penchant for flavours
Orange Juniper Blueberry even when consuming alternate beverages
Flavoured Even the consumption of high alcohol
Soda Tonic Ginger Ale Whisky sour Cosmopolitan Bloody Mary Mango Chilli
tonic concentration drinks are being driven by
Mixers the flavours today. Taste is a strong factor
Green apple Margarita
martini for young drinkers.
4
Aloha! – A Single Brand with Multiple Flavour Offerings, Catering to the Flavours-
Scarce India’s CSD Space
= FLAVOURS
AN OPPORTUNITY TO BUILD A
MULTIPLE FLAVOURS UNDER ONE BRAND BRAND THAT WILL FOCUS ON
15+ MAJOR CSD BRANDS IN THE MARKET DIVERSE FLAVOUR EXPERIENCE SUCCESSFUL FLAVOURS OTHER
ARE ASSOCIATED WITH A SINGLE THAN LEGACY FLAVOURS
FLAVOUR OUT OF THE 5-6 COMMON
INCLUSIVE EXPERIMENTAL VIBRANT
FLAVOURS (~85-90% of CSD sales)
ACCESSIBLE EMPOWERING CASUAL
WATERMELON
→
CRANBERRY
COLA GREEN APPLE
→
PEACH
ORANGE GUAVA
MANY SUCCESSFUL FLAVOURS IN THE BLUEBERRY
→ LEMON / LIME BEVERAGES SPACE (OTHER THAN CSD) STRAWBERRY BLACKBERRY
→ APPLE KALAKHATTA MASALA
ABSENCE OF FLAVOUR-BASED CSD PLAYER
(DOMESTIC OR INTERNATIONAL) PINEAPPLE
→ JEERA / INDIAN
MOSAMBI
PUDINA MASALA
5
Aloha’s Products / SKUs
Price (MRP) INR 30 INR 20 INR 100
Pack Size 300 ML PET 200 ML PET 250 ML cans
(trial run)
Flavours:
- Peach
- Pudina Masala
- Strawberry Lime
- Watermelon Lime
Product NO
CAFFEINE
Features
Channel Q-commerce, Institutions, GT (Tier 1, Tier 2, Tier 3), QSRs, Institutions, HoReCa,
Focus Select GT & MT Vending machines Airports, Airlines and Exports
6
Aloha is a Versatile Brand Carefully Curated keeping in mind “Channel-Occasion-
Price-Packaging”
All Occasions Drink Omnichannel Fitment
Sprite / Fanta / Indian
Select 200ML PET 300ML PET 250ML CAN
Occasions
Thums-up / Jimmy’s / SKUs partners (INR 20) (INR 30) (INR 100)
Coke / Pepsi 7UP Mirinda flavours Schweppes
Metro
Thirst General Trade
T1, T2, T3
National
Meals Modern Trade
Standalone
Mixers/ Restricted Restricted Online Q-commerce
Mocktails commerce E-commerce
Celebrations Institutions
HoReCa/QSR
Aloha can be a complete beverage solution……. Exports
Thought-through Pricing & Packs
INR 30 / INR 20 / INR 100 /
SKU-wise market reach >> 300 ml bottle 200 ml bottle 250 ml can
12 13-15 Cr
50% of Indian 24-26 Cr Targeting ~70%
households consumes 40-45 Cr (~45 cr) of India’s
carbonated soft drink 30
soft drink drinking
(~15 Cr households / ~65 cr population
population) 20-25
Per capita income (1) 100
about $15k
about $3k
Population distribution by
less than $ 3k
per capita income (Cr)
Source: 1. Indus Valley Annual Report 2024 and Aloha’s understanding of the market
7
Launched in May-23, Humbled by Product Acceptability and Response from
Channel Partners and Consumers
13,764 14,650 SAMT, 2%
Vedning Machine GT, 41%
12,016
11,947
& Others, 9%
Cases sold
SALES VOLUME 8,618
(CASES) OND’24
5,764
4,068
1,675 Q-commerce,
May’23 Jan’25 48%
MJ - 23 JAS - 23 OND -23 JFM -24 AMJ -24 JAS - 24 OND - 24 JFM'25
Cases sold: ~60k
NET REVENUE ~INR 2.02 Cr
~INR 29L ~8600 ~41% ~3,600
Q3- 24 REVENUE
Net Revenue Cases Sold (#) Gross margin (%)(1) Retail touch points(2)
General Trade MT & SAMT Online Institutions
CURRENT
DISTRIBUTION REACH
~2,700 outlets
Note: (1) Gross margin = Net revenue less RM & PM, inward logistics and manufacturing expenses; (2) Includes GT, SAMT/MT, and vending machines; 1 case = 24 bottles
8
Double Clicking on Quick Commerce (Zepto) Growth
4,294
3,302
2,911
Cases sold
CONSISTENT
GROWTH
1,552
625
139
AS'23 OND'23 JFM'24 AMJ'24 JAS'24 OND'24
61,603 units 97,529 units
DAILY SALES ON
ZEPTO
(GMV ~Rs 48L)
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Plan for Next 2 years: Going Strength to Strength
FY 2025-26 FY 2026-27
1. Peach
FLAVOURS 2.
3.
Pudina Masala
Strawberry Lime +1
4. Watermelon Lime
1. 300ml PET bottle / INR 30 +
SKUS 2. 200ml PET bottle / INR 20 Explore large pack for MT
3. 250ml can / INR 100
Retail touchpoints ~ 8,500 Retail touchpoints ~18,000
MT: Pharmacy chain, 1 National MT MT: Pharmacy, National & Regional MT
DISTRIBUTION Online: Q-commerce (3) Online: Q-commerce (4)
HoReCa: Launch HoReCa: Expand
Institutions: Vending machines (1,100), Institutions: Vending machines (1,750),
corporate canteens, colleges, etc. corporate canteens, colleges, etc.
CONTRACT MANUFACTURERS
1 2
North region North region
East & NE region East & NE region
GEOGRAPHICAL PRESENCE
South region South region
West region West region
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Annexure: in the market
General Trade (1/2)
General Trade (2/2)
Quick Commerce
14
SAMT / MT
15
Vending Machines
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Disclaimer
This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe
used for any other purpose without the prior written consent of Karmic Beverages Private Limited.
In preparing this note, we have relied upon and assumed, without any independent verification, the accuracy and completeness of all information available from public sources or which was
otherwise reviewed by us.
This note contains certain assumptions, which Karmic Beverages Private Limited considers reasonable at this time and our views as of this date and are accordingly subject to change.
Computations adopted in this note are indicative and are based on current prevailing market prices and general market sentiment. No representation or warranty is given by Karmic Beverages
Private Limited as to the achievement or reasonableness or completeness of any idea and/or assumptions.
This note does not purport to contain all the information that the recipient may require. Recipients should not construe any of the contents herein as advice relating to business, financial, legal,
taxation, or investment matters and are advised to consult their own business, financial, legal, taxation and other advisors concerning the company.
This note does not constitute an offer for sale, or an invitation to subscribe for, or purchase equity shares or other assets or securities of the company and the information contained herein shall
not form the basis of any contract. It is also not meant to be or to constitute any offer for any transaction.
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