Hector Beverages reported sales of Rs 69 crore and net loss of Rs 78 crore for 2016-17.
Ethnic drink brand Paper Boat seems to be slowing down after sailing high for almost seven years, as health-conscious consumers are looking for sugar free products.
Hector Beverages, maker of Paper Boat, posted a tepid 12.5% growth in the year ended March 2017 after doubling its sales in the previous year.
Hector Beverages reported sales of Rs 69 crore and net loss of Rs 78 crore for 2016-17, as per its latest filing with the Registrar of Companies (RoC). It had posted sales of Rs 62 crore and net loss of Rs 84 crore in the previous year.
Rival beverages makers PepsiCo and Coca-Cola, too, have been struggling to grow their sales while top confectioners Mondelez and Ferrero India posted one of their slowest sales growth last year.
While Paper Boat sells non-carbonated drinks, the products are still high in sugar and aren’t considered healthier than other beverages such as fruit juice.