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CCD coffee shop matter is up to 450 in FY24, amount of functional vending equipments surges, ET Retail

.Representative imageThe amount of Cafe Coffee Time (CCD) outlets decreased to 450 in FY24, though the count of functional vending machines at company workplaces and also hotels and resorts boosted to 52,581. The amount of Value Express booths likewise declined marginally to 265, according to the most recent annual report of Coffee Time Enterprises Ltd (CDEL), which possesses the chain via its own subsidiary Coffee Day Global Ltd. Coffee Day Global was functioning 469 cafes and also 268 CCD Market value Express booths in FY23. Furthermore, CCD's existence also declined to 141 areas in FY24, as compared to 154 metropolitan areas a year prior to, the annual record revealed. It had an existence in 158 cities in FY22. However, there is actually a significant increase in the variety of functional vending makers, which has actually gone up to 52,581 in FY24 from 48,788 of FY23. It went to 38,810 in FY22. CDEL better mentioned gross income coming from the company's consolidated coffee service stood at Rs 966 crore in 2023-24, up 11.16 per-cent year-on-year. CDEL has actually been actually encountering difficulty since the fatality of creator Chairman V G Siddhartha in July 2019. It is paring its own personal debt via property resolutions and also has significantly scaled down. As on March 31, 2024 the overall funding funds stood at Rs 1,159 crore, which consists of long-term loaning of Rs 102 crore and short-term loaning of Rs 1,057 crore. Its internet debt stood at Rs 881 crore in FY24. It went to Rs 1,524 crore in FY23, which has been greatly minimized with steps as asset monetisation. "The provider's total property lowered to Rs 5,104 crore in 2023-24 from Rs 5,849 crore in FY23. This decline ... is actually mainly therefore problems of a good reputation of Rs 359 crore and also redemption of Rs 398 crore debentures stored by the team for repayment of financial debt and also sale of homes provided as security to the finance companies," it stated. Additionally, CDEL's financial investments (current and non-current), including equity-accounted investees in FY24, lowered 90 per-cent to Rs 44 crore coming from Rs 440 crore. This was actually "mostly because of redemption of Rs 398 crore bonds had due to the team for settlement of financial debt," it mentioned. Its own current liabilities, leaving out existing borrowing of Rs 1,057 crore, stood at Rs 638 crore.
Released On Sep 3, 2024 at 03:35 PM IST.




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