Earnings Call Transcript
VINCOFE · price
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Vintage Coffee posted strong Q4 FY26 results with revenue of INR165.3 crores (up 57.2% YoY) and full-year FY26 revenue of INR553.1 crores (up 79.3% YoY). EBITDA for FY26 was INR99.6 crores with 18% margin, while PAT stood at INR72.2 crores (13.1% margin). The company completed brownfield expansion from 6,500 to 11,000 MT capacity, now fully operational from Q1 FY27, with 95% utilization expected in FY27. A new freeze-dried coffee facility (5,500 MT) will be commissioned by Q2 FY28, with Phase 2 (another 5,500 MT) planned for FY29-30. Management guides EBITDA margins improving to ~19% in FY27, 20-21% in FY28, and 22-24% in FY29 as premium product mix increases. The CFO outlined debt plans: additional INR300-400 crores will be raised for FY28, partly via ECB at 5-6% cost. About 19-20 customers globally contribute to revenue, with top 5-6 customers accounting for 45-50% of business.
Strong growth trajectory with capacity expansion positions the company for continued revenue growth, while shift toward higher-margin freeze-dried coffee and consumer packs should drive margin improvement over the next three years.