Vintage Coffee & Beverages Ltd is a pure-play instant coffee manufacturer that was born from a reverse takeover - a listed shell acquired in 2021 and recast around two operating businesses with a combined century of coffee expertise. The company makes spray-dried, agglomerated, and increasingly freeze-dried and liquid coffee almost entirely for export, producing private-label and bespoke blends for a tight circle of global B2B customers. Its recurring approach is to build production capacity ahead of demand, fund it from internal cash, and steadily climb the value chain from bulk powder to packaged consumer goods and premium freeze-dried products. # Business segments A single manufacturing engine with two complementary production lines - instant coffee and instant chicory - both feeding the same export-led, private-label model. ## 1. Instant coffee: the core manufacturing engine **A 100% export-oriented factory that turns green beans into bespoke instant coffee for roughly 20 global clients, operating on a cost-plus model that insulates margins from commodity price swings.** - **Built in record time** - the factory in Telangana was commissioned in 12-14 months on a 23-acre site, using state-of-the-art roasting, extraction, evaporation, spray-drying and agglomeration equipment sourced from Brazil and elsewhere. - **Cost-plus pricing protects earnings** - the company charges customers based on its production cost plus a margin, so its profit per kilogram depends on product mix (packed versus bulk) and blend complexity, not on the daily price of green coffee beans. - **Capacity built ahead of orders** - total installed capacity has expanded from 6,500 to 11,000 metric tonnes per year, with the latest 4,500-tonne addition commissioned in March 2026 and funded entirely from internal accruals, so the company can capture demand as it materialises. - **Moving up the value chain** - a fully automated packaging line commissioned ahead of schedule in late 2024 increased consumer-pack exports by 25%, and a greenfield freeze-dried coffee facility with 5,500-tonne annual capacity is under construction for completion by Q2 FY27-128, targeting higher-value segments. ## 2. Instant chicory: the complementary niche line **A smaller, synergistic operation that manufactures chicory powder for Eastern European and African markets, giving the group a foothold in segments where chicory is drunk straight or blended with coffee.** - **A parallel production process** - chicory cubes are roasted, ground, extracted, evaporated and hot-sprayed into soluble powder at a 2-acre plant in Siddipet, Telangana, operated by the wholly-owned subsidiary Delecto Foods. - **First-mover in a niche** - the subsidiary supplies premium private-label instant chicory to a reputed Russian customer positioned in premium retail chains, and sells chicory-coffee blends in value-added packaging into West Africa, giving the group entry into markets where pure coffee alone would not reach. - **Riding a health perception wave** - chicory consumption is growing because it is seen as an economical coffee alternative with perceived benefits for diabetes, liver and gallbladder conditions, particularly in Eastern Europe and India. # Group structure and partners **A listed holding company with two wholly-owned operating subsidiaries, both set to merge into the parent, controlled by a promoter group with deep coffee-industry roots.** - Vintage Coffee and Beverages Ltd (the listed entity) became the holding company for Vintage Coffee Private Limited and Delecto Foods Private Limited through a share swap in July 2021, and a scheme to amalgamate both subsidiaries into the parent is pending regulatory approval. - Vintage Coffee Private Limited runs the main instant-coffee factory as a 100% Export Oriented Unit; Delecto Foods Private Limited runs the chicory plant. - The Chairman and Managing Director, Mr. Balakrishna Tati, holds 18.88% of the company and previously drove export sales at Tata Coffee from US$3 million to US$50 million before co-founding Delecto Foods in 2012. - The promoter group also includes Chin Corp Holding Pte Ltd, a Singapore-incorporated trading entity with an 18.48% stake, and Valbe Foods (India) Private Limited, an agricultural-trading company that does not belong to the promoter and promoter group.