Correct me if I am wrong. VBL are the distributors/manufacturers for Pepsico whereas Hindustan Foods are a contract manufacturer with no experience in distribution. Hindustan Foods basically manufactures on behalf of other companies who might not be wanting to do capex themselves or have tied up with Hindustan Foods to meet near term demand.
So I don’t think they have Pepsico as a direct client, and rather its VBL giving them the license to manufacture certain products.
I maybe completely wrong in my understanding.
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