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CCD cafe count falls to 450 in FY24, variety of operational vending makers surges, ET Retail

.Representative imageThe number of Coffee shop Coffee Time (CCD) outlets decreased to 450 in FY24, though the matter of functional vending devices at business offices and also hotels and resorts boosted to 52,581. The amount of Market value Express kiosks additionally declined marginally to 265, according to the latest annual record of Coffee Time Enterprises Ltd (CDEL), which has the establishment through its subsidiary Coffee Day Global Ltd. Coffee Time Global was working 469 coffee shops and also 268 CCD Value Express kiosks in FY23. Furthermore, CCD's presence likewise dropped to 141 cities in FY24, as compared to 154 cities a year before, the annual document showed. It had a presence in 158 areas in FY22. Nevertheless, there is actually a substantial increase in the lot of working vending machines, which has actually risen to 52,581 in FY24 coming from 48,788 of FY23. It went to 38,810 in FY22. CDEL better pointed out gross revenue coming from the provider's consolidated coffee service stood at Rs 966 crore in 2023-24, up 11.16 percent year-on-year. CDEL has been experiencing problem given that the fatality of creator Leader V G Siddhartha in July 2019. It is paring its own personal debt through possession resolutions and has dramatically downsized. As on March 31, 2024 the overall lending funds stood at Rs 1,159 crore, which makes up long-term borrowing of Rs 102 crore and also temporary loaning of Rs 1,057 crore. Its internet financial debt stood at Rs 881 crore in FY24. It went to Rs 1,524 crore in FY23, which has actually been actually substantially lessened with measures as property monetisation. "The business's overall asset lowered to Rs 5,104 crore in 2023-24 coming from Rs 5,849 crore in FY23. This decline ... is actually generally therefore disability of goodwill of Rs 359 crore and redemption of Rs 398 crore bonds held due to the group for settlement of debt as well as sale of homes provided as security to the lenders," it said. In addition, CDEL's expenditures (present and also non-current), including equity-accounted investees in FY24, lowered 90 per-cent to Rs 44 crore from Rs 440 crore. This was actually "primarily as a result of atonement of Rs 398 crore debentures held by the team for monthly payment of financial debt," it stated. Its present obligations, omitting present borrowing of Rs 1,057 crore, stood at Rs 638 crore.
Published On Sep 3, 2024 at 03:35 PM IST.




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