.Representative imageThe number of Cafe Coffee Day (CCD) electrical outlets decreased to 450 in FY24, though the count of functional vending devices at company workplaces and also lodgings enhanced to 52,581. The lot of Value Express booths also dropped partially to 265, depending on to the most up to date annual document of Coffee Time Enterprises Ltd (CDEL), which owns the chain via its own subsidiary Coffee Time Global Ltd. Coffee Day Global was actually functioning 469 cafes as well as 268 CCD Worth Express booths in FY23. In addition, CCD's existence also dropped to 141 urban areas in FY24, as compared to 154 metropolitan areas a year prior to, the annual file showed. It possessed an existence in 158 urban areas in FY22. Nevertheless, there is a sizable boost in the amount of functional vending machines, which has gone up to 52,581 in FY24 coming from 48,788 of FY23. It was at 38,810 in FY22. CDEL additionally claimed gross revenue coming from the provider's consolidated coffee organization stood at Rs 966 crore in 2023-24, up 11.16 per cent year-on-year. CDEL has been facing difficulty considering that the death of founder Chairman V G Siddhartha in July 2019. It is reducing its own personal debt by means of possession resolutions as well as has considerably reduced. As on March 31, 2024 the total lending funds stood at Rs 1,159 crore, which comprises long-term loaning of Rs 102 crore and short-term borrowing of Rs 1,057 crore. Its web financial obligation stood at Rs 881 crore in FY24. It was at Rs 1,524 crore in FY23, which has actually been actually considerably minimized by means of steps as possession monetisation. "The firm's complete resource minimized to Rs 5,104 crore in 2023-24 from Rs 5,849 crore in FY23. This decrease ... is generally therefore impairment of goodwill of Rs 359 crore and also redemption of Rs 398 crore bonds stored due to the group for settlement of financial debt and also sale of residential properties offered as safety and security to the lending institutions," it stated. Additionally, CDEL's expenditures (current as well as non-current), featuring equity-accounted investees in FY24, reduced 90 per-cent to Rs 44 crore coming from Rs 440 crore. This was "mainly due to redemption of Rs 398 crore bonds held due to the group for repayment of financial debt," it pointed out. Its existing liabilities, leaving out present borrowing of Rs 1,057 crore, remained at Rs 638 crore.
Published On Sep 3, 2024 at 03:35 PM IST.
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