Vintage Coffee And Beverages Ltd5:23 am IST
Vintage Coffee and Beverages Q1 FY27: Strong start; capacity expansion underway; freeze-dried plans in progress
Financial Performance
- Q1 FY27 revenue INR161 crores, up 58.4% YoY from INR101.6 crores.
- EBITDA INR31.6 crores, up from INR18 crores YoY.
- PAT INR20.8 crores, up 46.1% YoY from INR14.2 crores.
- PAT margin 12.9% in Q1 FY27.
- Incremental capacity of 4,500 MT fully utilized in Q1 FY27.
- Total installed capacity 11,000 MT after FY26 expansion.
- NCLT approved amalgamation of Vintage Coffee Private Limited and Delecto Foods Private Limited; effective July 21, 2026.
- Q1 volume: 1,856 MT sold; production 2,402 MT; EBITDA per kg 157.
Capacity Expansion and Run-rate
- Commissioned 2,000 MT in January 2025; expanded to 11,000 MT by end FY26.
- Freeze-dried coffee added 5,500 MT, taking total to 16,500 MT.
- Trial for freeze-dried expected to complete by June; production to start in the second quarter.
- Freeze-dried capacity LOIs cover ~70%–80% of installed capacity.
- Packaging: 5,000 MT capacity; mix 45% bulk, 55% consumer packs.
Capex and Projects
- FDC capex INR 550 crores; INR 114 crores spent to date; Q1 spend INR 25 crores.
- Delecto Foods Private Limited capacity 2,000 MT; revenue INR 42–45 crores; profitable.
- 5,500 MT FDC expansion linked to land in Telangana; initial construction underway.
Market Dynamics and Mix
- Customer retention reported around 98%.
- Export geography mix: West Africa 30%, Russia & CIS 22%, Southeast Asia 20%, Europe 10%, Central America 15%, India 5%.
- LD/visibility: annual volume commitments from customers; LOIs for freeze-dried volumes.
Guidance and Outlook
- FY27 revenue guidance INR 850–900 crores.
- FY28: 60–65% utilization for 5,500 MT FDC; 8–9 months; 2,400 MT FDC addition.
- Consolidated EBITDA margins targeted around 23–24% in next 2 years.
- FY27 operating cash flow expected to be positive; working-capital days around 120–125.
Q&A Highlights
- Volumetric visibility: freeze-dried LOIs indicate 70%–80% commitments.
- Press release to include Q1 volume and EBITDA per kg (1,856 MT and 157).
- US/Europe targets under freeze-dried via LOIs; new customers added for FD as well.
- Debt: Phase 1 FDC peak around INR 450 crores; Phase 2 funded by incremental cash flow if possible; no further equity dilution planned.
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