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CCD coffee shop count is up to 450 in FY24, variety of working vending equipments increases, ET Retail

.Rep imageThe lot of Cafe Coffee Day (CCD) channels declined to 450 in FY24, though the count of operational vending machines at company offices and resorts boosted to 52,581. The variety of Value Express kiosks additionally declined partially to 265, depending on to the current annual report of Coffee Time Enterprises Ltd (CDEL), which owns the establishment by means of its own subsidiary Coffee Time Global Ltd. Coffee Time Global was actually working 469 cafes and also 268 CCD Worth Express booths in FY23. Additionally, CCD's presence additionally decreased to 141 areas in FY24, as contrasted to 154 areas a year prior to, the annual record presented. It had a visibility in 158 urban areas in FY22. Nevertheless, there is a substantial boost in the amount of functional vending machines, which has actually increased to 52,581 in FY24 from 48,788 of FY23. It was at 38,810 in FY22. CDEL even further pointed out disgusting income from the provider's consolidated coffee service stood at Rs 966 crore in 2023-24, up 11.16 per cent year-on-year. CDEL has been experiencing problem since the death of founder Leader V G Siddhartha in July 2019. It is reducing its financial debt through asset resolutions and has substantially downsized. As on March 31, 2024 the total financing funds stood up at Rs 1,159 crore, which makes up lasting borrowing of Rs 102 crore and short-term loaning of Rs 1,057 crore. Its own net debt stood at Rs 881 crore in FY24. It was at Rs 1,524 crore in FY23, which has been actually substantially lessened with actions as resource monetisation. "The firm's total property reduced to Rs 5,104 crore in 2023-24 from Rs 5,849 crore in FY23. This decrease ... is actually primarily on account of issue of goodwill of Rs 359 crore as well as atonement of Rs 398 crore debentures stored by the group for settlement of debt as well as sale of properties given as security to the lending institutions," it pointed out. Furthermore, CDEL's assets (current and also non-current), including equity-accounted investees in FY24, lessened 90 per-cent to Rs 44 crore coming from Rs 440 crore. This was "primarily because of atonement of Rs 398 crore debentures held by the team for payment of financial debt," it mentioned. Its present responsibilities, excluding current borrowing of Rs 1,057 crore, stood at Rs 638 crore.
Posted On Sep 3, 2024 at 03:35 PM IST.




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