In May'19, VBL acquired the franchisee rights to seven states Gujarat, parts of Maharashtra, parts of Karnataka, parts of Telangana, parts of Andhra Pradesh, Kerala, and Tamil Nadu in South and West India from PepsiCo. Prior to the acquisition, PepsiCo's market share had dropped over CY16-19 and penetration levels in the region were low. The management aims to improve distribution and penetration levels in the region. However, its expansion plans were hampered due to the onset of the COVID-19 outbreak....