BENGALURU: Coffee Day Global’s cafe chain brand Cafe Coffee Day’s (CCD) number of outlets as well as its presence in cities have come down from 495 cafes in 158 cities in FY22 to 450 cafes in 141 cities. However, its number of operational vending machines has increased from 38,810 to 52,581 in the corresponding period. These vending machines dispense coffee in corporate workplaces and hotels under the brand.
As per Coffee Day Enterprises Limited’s (CDEL) latest annual report filed on Tuesday, 95% of the consolidated net revenue of the company was contributed by coffee business in FY24, followed by 4.9% from hospitality and 0.1% from other operations.
In FY24, CDEL’s net loss stood at Rs 323 crore and its net operational revenue was Rs 1,013 crore, a 9.6% rise as against FY23. As of March 31, 2024, it has 18 subsidiaries (including step-down subsidiaries), 4 Associate companies and 3 joint ventures.
Total loan funds stood at Rs 1,159 crore which comprises long-term borrowings of Rs 102 crore and short-term borrowings of Rs 1,057 crore and the company’s net debt stood at Rs 881 crore. As per the annual report, its non-current liabilities (excluding borrowings) stood at Rs 178 crore, comprising lease liabilities Rs 167 crore, deferred tax liabilities Rs 1 crore, and provisions amounting to Rs 10 crore.
The Bengaluru bench of NCLT on August 8 ordered initiating insolvency proceedings against CDEL as IDBI Trusteeship Services Ltd (IDBITSL) approached the corporate dispute tribunal claiming a default of Rs 228.45 crore. NCLT appointed an interim resolution professional to take care of the operation. CDEL director Malvika Hegde challenged the NCLT order to initiate an insolvency process against the company, and on August 14, the National Company Law Appellate Tribunal (NCLAT), Chennai, stayed the insolvency proceedings against CDEL.
In the annual report, the company said it will do all acts required to safeguard the interest of all shareholders.
The Group has borrowings amounting to Rs 1,289 crore as at March 31, 2024. CDEL posted EBITDA at Rs 43 crore, down 31% YoY for Q1FY25 and its net loss for the June quarter stood at Rs 11 crore compared to net profit of Rs 21 crore in the year-ago period. Its revenue for the quarter stood at Rs 260 crore, up 5% YoY.