Coffee Day Enterprises (CDEL) reported robust financial results for the fiscal year ending 31 March 2023. The company’s net revenues surged by 59 per cent to Rs 924 crore, compared to Rs 582 crore in the previous fiscal year.
Its consolidated coffee business contributed significantly, accounting for 94 per cent of the net revenues, followed by the hospitality sector at 5 per cent, with other operations comprising the remaining 1 per cent.
The company’s cafe network continued to expand, reaching 469 outlets across 154 cities.
According to the company’s chairman SV Ranganath, average daily sales per café increased by 42 per cent to Rs 20,622 and the same-store sales growth (SSSG) witnessed an increase of 50.59 per cent during the same period.
The operational vending machines increased by 26 per cent, with a 65.80 per cent rise in average revenue per machine per day.
The company’s net debt reduced to Rs 1524 crore compared to Rs 1694 crore in the previous year. The company’s net worth stood at Rs 3,376 crore as of 31 March 2023, reflecting an 11 per cent decrease from the previous year.
