Coffee Day's 2022-23 Revenues Soar 59%, Debt Plummets

 Coffee Day Enterprises (CDEL) announced a significant 59% increase in its net revenues for the fiscal year ending on March 31, 2023.

This marks a notable upturn from the previous fiscal year when the company reported revenues of Rs 582 crore.                  

In the fiscal year 2022-23, the company's integrated coffee division contributed Rs 869 crore to its total revenue.

The coffee segment accounted for 94% of the company's net income, while the hospitality sector contributed 5%, with the remaining 1% coming from other operations.

During the annual general meeting (AGM) held in Bengaluru on Friday, Company Chairman SV Ranganath provided insights into the company's revenue, sales, debt status, and other pertinent information.

The publicly traded organization, established by the late VG Siddhartha, operates cafes, vending machines, and the hospitality sector under the Serai brand name.

During the fiscal year ending on March 31, 2023, the average daily sales per café experienced a substantial 42% rise, reaching Rs 20,622.

Additionally, the same store sales growth (SSSG) surged by 50.59% within the same timeframe. Chairman Ranganath also mentioned that the cafe network underwent further streamlining, with a total of 469 outlets now operating in 154 cities.

In the past year, the number of functioning vending machines grew by 26%, and the average daily revenue per machine saw a remarkable increase of 65.80%, reaching Rs 431.

As of March 31 of this year, the total count of operational vending machines stood at 48,788.

As of March 31 this year, Coffee Day Enterprises' (CDEL) net debt decreased to Rs 1,524 crore, which is a decline from the Rs 1,694 crore reported a year earlier.

The company's debt structure consisted of long-term borrowings amounting to Rs 1,297 crore and short-term borrowings of Rs 303 crore as of March 31 this year.