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CCD coffee shop matter is up to 450 in FY24, number of working vending machines increases, ET Retail

.Representative imageThe variety of Cafe Coffee Day (CCD) outlets decreased to 450 in FY24, though the matter of working vending devices at company place of work and resorts enhanced to 52,581. The number of Value Express booths also decreased marginally to 265, according to the most up to date annual record of Coffee Time Enterprises Ltd (CDEL), which has the chain by means of its own subsidiary Coffee Day Global Ltd. Coffee Time Global was operating 469 coffee shops and also 268 CCD Value Express kiosks in FY23. Moreover, CCD's presence likewise dropped to 141 cities in FY24, as matched up to 154 cities a year before, the annual report revealed. It possessed an existence in 158 cities in FY22. Having said that, there is a significant increase in the number of working vending equipments, which has risen to 52,581 in FY24 coming from 48,788 of FY23. It was at 38,810 in FY22. CDEL even further pointed out disgusting income coming from the company's consolidated coffee service stood up at Rs 966 crore in 2023-24, up 11.16 per cent year-on-year. CDEL has actually been actually facing problem given that the death of owner Chairman V G Siddhartha in July 2019. It is actually reducing its own personal debt via property solutions and has actually substantially scaled down. As on March 31, 2024 the total car loan funds stood at Rs 1,159 crore, which comprises long-term loaning of Rs 102 crore and also temporary borrowing of Rs 1,057 crore. Its internet debt stood up at Rs 881 crore in FY24. It went to Rs 1,524 crore in FY23, which has actually been actually greatly decreased with steps as property monetisation. "The firm's total possession decreased to Rs 5,104 crore in 2023-24 from Rs 5,849 crore in FY23. This reduce ... is actually mainly on account of impairment of goodwill of Rs 359 crore and redemption of Rs 398 crore debentures kept by the group for monthly payment of financial obligation and also purchase of properties provided as surveillance to the lenders," it pointed out. Moreover, CDEL's assets (present as well as non-current), consisting of equity-accounted investees in FY24, lessened 90 per cent to Rs 44 crore from Rs 440 crore. This was actually "mainly as a result of atonement of Rs 398 crore debentures had by the team for monthly payment of personal debt," it said. Its own present responsibilities, excluding present 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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