aerated beverages are unlikely to reach pre-pandemic levels of business this fiscal with ratings firm Crisil estimating that revenues in the current fiscal will be down over 2020 levels.Last fiscal, a strict nationwide lockdown and subsequent restrictions over April-September severely affected peak season demand as summer months alone account for two-thirds of annual cola sales, Crisil said in a note on the soft drinks market on Friday.This could play out again as India is currently witnessing another wave of covid-19 cases that has led to localized lockdowns during the crucial summer season.
Consumption of beverages is also highly dependent on out-of-home consumption or people buying cold drinks on the go, with restriction on mobility.