Café Coffee Day (CCD) saw a decrease in its presence to 141 cities in FY24, down from 154 cities in the previous year. According to its annual report filed on the BSE, the company had previously been present in 158 cities in FY22. Additionally, the number of outlets fell to 450 in FY24.
Meanwhile, the National Company Law Appellate Tribunal (NCLAT) halted the insolvency proceedings against the company. The proceedings were put on hold following a petition filed by Malavika Hegde, Executive Director and CEO of the suspended board. The petition challenged the National Company Law Tribunal (NCLT) order to initiate insolvency proceedings over an alleged default of ₹228 crore.
In FY23, Coffee Day Global was operating 469 cafes and 268 CCD Value Express kiosks. Despite the reduction in the number of stores, CCD’s presence remains strong in corporate workplaces and hotels, with the number of operational vending machines increasing to 52,581 from 48,788 in FY23.
CCD reported a revenue of ₹966 crore for the FY24, marking an 11.16 percent increase year on year, and recorded profits of ₹155 crore during the same period. The company has total loans amounting to ₹1,159 crore, which includes long-term borrowings of ₹102 crore and short-term borrowings of ₹1,057 crore, as of March 2024.
With inputs from PTI