Vintage Coffee and Beverages Q2 FY27 results: net profit ₹28.06 crore vs ₹4.29 crore, revenue up 116.6%

How did Vintage Coffee and Beverages perform in Q2 FY27?

Standalone revenue for Q2 FY27 was ₹222.97 crore, compared with ₹102.94 crore in Q2 FY26 and ₹55.53 crore in Q1 FY27. Total income was ₹224.66 crore, up ₹118.21 crore from Q2 FY26 and ₹163.29 crore from Q1 FY27. The quarter ended on 30 September 2026, and the results were unaudited.

EBITDA was ₹42.16 crore in Q2 FY27, against ₹3 crore in Q2 FY26 and a loss of ₹0.50 crore in Q1 FY27. EBITDA margin was 18.9%, compared with 2.9% and -0.9%, respectively. Profit before tax was ₹37.97 crore, against ₹5.74 crore and ₹3.69 crore; tax was ₹9.91 crore, against ₹1.45 crore and ₹0.96 crore.

Net profit was ₹28.06 crore in Q2 FY27, compared with ₹4.29 crore in Q2 FY26 and ₹2.73 crore in Q1 FY27. Basic EPS was ₹1.92, against ₹0.3 and ₹0.19. The year-ago quarter was not restated for the amalgamation of Vintage Coffee Private Limited and Delecto Foods Private Limited, so current-period figures are not comparable with Q2 FY26. The company also filed consolidated results and a limited review report.

What changed in Vintage Coffee and Beverages' costs and profit?

Cost of materials consumed was ₹165.27 crore in Q2 FY27, up ₹68.45 crore from ₹96.82 crore in Q2 FY26. Employee benefit expense was ₹4.44 crore, up ₹3.76 crore from ₹0.68 crore, while finance cost was ₹2.43 crore, up ₹2.18 crore from ₹0.25 crore. Depreciation and amortisation was ₹3.45 crore, up ₹2.94 crore from ₹0.51 crore.

Other expenses were ₹14.85 crore, compared with ₹2.45 crore in Q2 FY26, an increase of ₹12.40 crore. Total expenses were ₹186.70 crore, up ₹86 crore from ₹100.70 crore. Other income was ₹1.69 crore, down ₹1.81 crore from ₹3.50 crore, and there was no exceptional item in either quarter.

Tax expense was ₹9.91 crore in Q2 FY27, up ₹8.46 crore from ₹1.45 crore in Q2 FY26. The filing gives the cost-line movements but does not state a specific reason for the changes.

How did the first half of FY27 go?

For H1 FY27, revenue was ₹383.97 crore, compared with ₹165.06 crore in H1 FY26, an increase of ₹218.91 crore or 132.6%. Total income was ₹387.25 crore, up ₹215.58 crore or 125.6% from ₹171.67 crore.

Profit before tax rose to ₹65.85 crore from ₹9.31 crore, an increase of ₹56.54 crore or 607.3%. Net profit was ₹48.85 crore, up ₹41.9 crore or 602.9% from ₹6.95 crore, while basic EPS was ₹3.34 against ₹0.48.

The investor presentation states that H1 FY27 figures are not comparable with the six months ended 30 September 2025 because the earlier figures were not restated for the amalgamation. The filing also states that the quarter ended 30 June 2026 and the year ended 31 March 2026 were restated.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹757.91 crore, compared with ₹537.51 crore on 31 March 2026. Total equity was ₹550.67 crore, against ₹497.77 crore. Inventories were ₹114.92 crore, trade receivables were ₹154.05 crore and trade payables were ₹33.71 crore at the quarter end.

Borrowings were ₹130.68 crore on 30 September 2026, compared with ₹20.65 crore on 31 March 2026. Cash and cash equivalents were ₹56.54 crore, against ₹54.72 crore. The balance-sheet figures in the filing are presented in lakhs, while the facts figures are shown here in ₹ crore.

For H1 FY27, net cash from operating activities was ₹51.16 crore, compared with an outflow of ₹41.35 crore in H1 FY26. Investing cash flow was an outflow of ₹96.07 crore, against ₹15.83 crore, and financing cash flow was ₹15.39 crore, against ₹190.84 crore. Capital expenditure was ₹99.35 crore, compared with ₹18.21 crore.

How has Vintage Coffee and Beverages done over the last 8 quarters?

Revenue in the reported quarterly sequence rose from ₹38.11 crore in Q4 FY25 to ₹222.97 crore in Q2 FY27, with Q2 FY27 the highest point in the series shown. The preceding Q1 FY27 revenue was ₹55.53 crore, so the latest quarter moved sharply upward from the immediately preceding quarter.

Net profit reached ₹28.06 crore in Q2 FY27, the highest level in the quarterly data provided, compared with ₹2.73 crore in Q1 FY27. EBITDA margin was 18.9% in Q2 FY27, the highest in the series, while the lowest shown was -0.9% in Q1 FY27. Profit rose year on year in each of the last three quarters, according to the provided streak data.

What else did the company announce?

The board approved the unaudited financial results for the quarter and half-year ended 30 September 2026, together with the limited review report, at its meeting on 4 November 2026. The meeting ran from 10:30 a.m. to 11:25 a.m. The company also filed an investor presentation under Regulation 30 and stated that it would make the presentation available on its website. The available same-day filings do not include a dividend, fund-raising approval or appointment announcement.

What did the auditors point out?

The auditors included an emphasis of matter in their review report. They drew attention to Note 2, which described the amalgamation of Vintage Coffee Private Limited and Delecto Foods Private Limited with Vintage Coffee and Beverages Limited, sanctioned by the NCLT through an order dated 21 July 2026, with an appointed date of 1 October 2025, and accounted for under Appendix C of Ind AS 103.

The auditors stated that the figures for the quarter ended 30 June 2026 and the year ended 31 March 2026 were restated, while the figures for the quarter and six months ended 30 September 2025 were not restated and were therefore not comparable. The provided excerpt identifies an emphasis of matter and does not state a going-concern qualification or a qualified opinion.

What did Vintage Coffee and Beverages' management say?

Management said the company had secured an order for execution for Q3 FY27 and had used the full enhanced capacity of 11,000 tonnes per annum during Q2 FY27. The presentation also stated that construction and installation of equipment for the freeze-dried coffee plant were in progress, with commissioning guided for around H1 FY28. The first freeze-dried coffee plant is planned to have capacity of about 5,500 tonnes per annum.

Management said commercialising the freeze-dried coffee plant was expected to increase the share of value-added products. The presentation put total project cost at around ₹500–550 crore, funded through equity or internal accruals and ECB or other debt, and said project funding was in place. It also identified comparability, PAT margin compression, customer concentration and the existing plant’s full utilisation as risks.

The presentation noted that the top five customers accounted for 43.7% of Q2 FY27 revenue, compared with 47.2% in Q2 FY26. It also said that the company had LOIs for a large part of the freeze-dried coffee capacity but did not provide an order value, conversion schedule or commissioning ramp plan. The available excerpt contains no specific analyst questions.

How did Vintage Coffee and Beverages shares react?

On the reaction day, the stock rose 8.9% from the previous close. It was up 3.9% after 5 minutes, 2.9% after 15 minutes and 5.5% after 30 minutes from the price when the filing appeared. The Tea & Coffee industry median moved -1.1% over the same closes, so the stock’s move was 10.0 percentage points above the industry median.

Earlier reaction-day moves were mixed: the stock fell 5.2% on 29 July 2026, fell 0.8% on 21 May 2026 and fell 2.3% on 28 January 2026. It rose 0.8% on 3 November 2025 and rose 9.3% on 19 July 2025. One-day and five-day post-result moves are not available in the provided data.