Kinley Soda Crosses ₹1,500 Crore Revenue, Strengthens Coca-Cola India’s Leadership in Soda Market

Coca-Cola India’s Kinley Soda has reached a major milestone, surpassing ₹1,500 crore in revenue and cementing its place as a dominant player in India's soda market.

The company credited Kinley’s growth to its two-decade-long commitment to quality, wide accessibility, and deep consumer trust. By catering to a broad range of customers — from street vendors serving nimbu soda to premium hospitality chains — Kinley has built a reputation as a reliable, refreshing companion across all occasions.

"With its signature crisp taste and consistent carbonation, Kinley has become a staple for generations of consumers across India," Coca-Cola India said in a statement quoted by PTI.

Today, Kinley Soda is sold through more than 1.4 million retail outlets nationwide. Its presence spans kirana stores, quick-commerce platforms like Swiggy Instamart and Zepto, and major retail chains such as D-Mart and Reliance Smart Bazaar. This robust distribution network has been key to driving its impressive reach across both urban and rural markets.

Vinay Nair, Vice President of Franchise Operations for Developing Markets at Coca-Cola India and Southwest Asia, highlighted the brand's disciplined growth strategy: "Kinley’s success comes from trust, consistency, and quality. By staying close to consumers and innovating thoughtfully, we have scaled the brand across every channel. Our focus on execution, not exaggeration, sets us apart," Nair said.

Kinley's surge comes amid intensifying competition in India's soda segment. The carbonated drinks market, fueled by increasing demand for non-alcoholic refreshments, particularly during peak summer seasons, remains fiercely contested.

Major players like PepsiCo, Bisleri, and Kingfisher Soda, along with rising challengers like Reliance’s Campa Cola, are battling for market share. Notably, Campa Cola, revived by Reliance Consumer Products Limited, recently crossed ₹1,000 crore in revenue within just 18 months. Campa's aggressive pricing, better trade margins (6–8% versus lower margins offered by Coca-Cola and PepsiCo), and Reliance’s vast retail ecosystem have shaken up the market.

In response, Coca-Cola and PepsiCo have tweaked their pricing strategies and introduced new packaging formats to stay competitive.

While current detailed market share figures for 2025 are unavailable, analysts suggest that Coca-Cola India — through brands like Kinley Soda, Sprite, and Limca — commands a significant lead, closely followed by PepsiCo’s portfolio featuring Pepsi, 7UP, and Mirinda.

Coca-Cola India operates as a wholly owned subsidiary of The Coca-Cola Company. Its bottling operations are largely handled by Hindustan Coca-Cola Beverages (HCCB).

In a major strategic shift in December 2024, the Bhartia family of the Jubilant Bhartia Group acquired a 40% stake in HCCB for ₹12,500 crore — one of the biggest deals in India’s beverage sector. Backed by financing from Goldman Sachs, this acquisition aligns with Coca-Cola’s global move toward an asset-light model, favoring independent bottlers over company-owned operations.

HCCB has also reported strong financial growth:

• Revenue increased by 9.2% to ₹14,021 crore in FY24.

• Net profit surged by an impressive 247% to ₹2,808.3 crore.

The company plans to invest $1.5 billion over the next five years to enhance its manufacturing footprint, including ₹3,000 crore toward a new juice and aerated drinks facility in Gujarat and ₹350 crore for a sparkling beverages plant in Madhya Pradesh.
These investments signal Coca-Cola’s aggressive push to capture deeper growth in India's Tier-2 and Tier-3 cities.