The company’s consolidated coffee business contributed Rs 869 crore to the topline in the fiscal year 2022-23. Coffee business contributed 94% of the company’s net revenues, followed by hospitality at 5% and other operations the balance of 1%.
Company chairman SV Ranganath shared details of the revenue, sales, debt position and other details at the company’s annual general meeting (AGM) in Bengaluru on Friday. The listed company, founded by the late VG Siddhartha, runs cafes, vending machines and the hospitality business under the brand name Serai.
The average sale per day per café registered an increase of 42% during the year ended March 31, 2023, to Rs 20,622 while the same store sales growth (SSSG) increased by 50.59% in the same period. The network of cafes saw a further consolidation at 469 outlets across 154 cities, Ranganath said.
The operational vending machines increased by 26% during the year, while the average revenue per machine per day registered a 65.80% increase to Rs 431. The operational vending machine count was 48,788 as of March 31 this year.
DROP IN NET DEBT:
The CDEL’s net debt dropped to Rs 1524 crore as of March 31 this year compared to Rs 1694 Crore a year ago. The company had long-term borrowings of Rs 1297 crore and short-term borrowings of Rs 303 crore, as of March 31, this year.
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