Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,967Cr
Rev Gr TTM
Revenue Growth TTM
100.55%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

VINCOFE
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 14.8 | 98.3 | 99.5 | 101.8 | 127.8 | 108.8 | 137.8 | 134.3 | 148.0 | 132.7 | 89.5 | 70.8 |
| 14 | 15 | 24 | 31 | 35 | 36 | 62 | 72 | 86 | 84 | 113 | 122 |
Operating Profit Operating ProfitCr |
| 22.5 | 26.2 | 19.0 | 17.8 | 17.1 | 17.6 | 13.8 | 18.2 | 18.4 | 17.8 | 16.5 | 19.1 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 1 | 0 | 2 | 1 | 1 | 1 | 1 | 2 |
Interest Expense Interest ExpenseCr | 1 | 2 | 2 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| 2 | 2 | 3 | 4 | 5 | 5 | 8 | 14 | 17 | 16 | 20 | 25 |
| 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 2 | 1 | 2 | 6 |
|
Growth YoY PAT Growth YoY% | 118.0 | 397.1 | 187.9 | 180.5 | 205.0 | 169.2 | 214.2 | 247.1 | 263.7 | 212.8 | 137.4 | 53.4 |
| 7.6 | 8.1 | 7.9 | 9.5 | 10.1 | 10.4 | 10.5 | 14.1 | 14.9 | 14.0 | 13.2 | 12.7 |
| 0.2 | 0.2 | 0.2 | 0.3 | 0.4 | 0.4 | 0.6 | 1.0 | 1.2 | 1.1 | 1.2 | 1.3 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 71.9 | 108.4 | 135.4 | 59.8 |
| 41 | 48 | 106 | 256 | 404 |
Operating Profit Operating ProfitCr |
| -12.2 | 24.5 | 19.2 | 17.2 | 17.9 |
Other Income Other IncomeCr | 1 | 0 | 1 | 4 | 5 |
Interest Expense Interest ExpenseCr | 4 | 6 | 7 | 6 | 7 |
Depreciation DepreciationCr | 3 | 5 | 5 | 7 | 9 |
| -12 | 5 | 14 | 44 | 78 |
| 1 | 1 | 2 | 4 | 11 |
|
| | 131.5 | 210.3 | 235.1 | 66.4 |
| -33.5 | 6.1 | 9.1 | 13.0 | 13.6 |
| -1.5 | 0.5 | 1.1 | 3.2 | 4.9 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 70 | 70 | 105 | 126 | 144 |
| 35 | 39 | 57 | 173 | 381 |
Current Liabilities Current LiabilitiesCr | 60 | 61 | 42 | 48 | 46 |
Non Current Liabilities Non Current LiabilitiesCr | 81 | 76 | 80 | 59 | 69 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 86 | 89 | 133 | 212 | 412 |
Non Current Assets Non Current AssetsCr | 160 | 156 | 155 | 197 | 229 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | -27 | 11 | -36 | -23 |
Investing Cash Flow Investing Cash FlowCr | -157 | -1 | -4 | -46 |
Financing Cash Flow Financing Cash FlowCr | 186 | -11 | 43 | 189 |
|
Free Cash Flow Free Cash FlowCr | -184 | 11 | -37 | -30 |
| 220.9 | 291.1 | -298.2 | -56.1 |
CFO To EBITDA CFO To EBITDA% | 609.3 | 73.1 | -142.3 | -42.5 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 394 | 192 | 577 | 1,228 |
Price To Earnings Price To Earnings | 0.0 | 50.0 | 48.3 | 30.6 |
Price To Sales Price To Sales | 10.8 | 3.0 | 4.4 | 4.0 |
Price To Book Price To Book | 4.6 | 2.1 | 4.0 | 4.4 |
| -112.6 | 19.0 | 26.6 | 24.6 |
Profitability Ratios Profitability Ratios |
| 36.3 | 47.6 | 34.2 | 28.1 |
| -12.2 | 24.5 | 19.2 | 17.2 |
| -33.5 | 6.1 | 9.1 | 13.0 |
| -3.4 | 5.2 | 8.1 | 13.2 |
| -11.7 | 3.6 | 7.4 | 13.4 |
| -5.0 | 1.6 | 4.2 | 9.8 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Vintage Coffee and Beverages Ltd (VCBL), established in 1980 and headquartered in Hyderabad, Telangana, is a publicly listed company on the BSE and NSE. The company specializes in the manufacturing and export of high-quality instant coffee, instant chicory, and other beverage products, with a strong focus on private-label production for global clients.
VCBL operates as a 100% export-oriented enterprise through its key subsidiary, **Vintage Coffee Private Limited (VCPL)**, which runs a 23-acre integrated manufacturing and export facility in Nagarkurnool (Rachur Village), Telangana. Another subsidiary, **Delecto Foods Pvt Ltd**, operates a 2-acre facility in Siddipet, Telangana, dedicated to instant chicory and coffee-based products.
---
### **Production & Technology Advancements**
VCBL has made significant investments in state-of-the-art technology to enhance product quality and operational efficiency:
- Utilizes a **Probat profile roaster** with turbo roasting technology from Brazil for superior flavor development.
- Employs a **fully automated extraction system** and **dual-point aroma recovery technology** to preserve rich aroma and ensure consistent taste.
- Invested in advanced equipment and in-house modifications to optimize **agglomerated (granulated) coffee** production.
- Currently preparing to enter **freeze-dried coffee (FDC)** segment through a greenfield project expected to add **5,000 metric tons** of capacity by **March 2027**.
- Issued purchase orders for FDC plant and machinery from a leading European supplier, covering ~70% of total project cost.
---
### **Capacity & Expansion**
The company is undergoing aggressive organic growth and infrastructure development:
- **Total capacity expansion**: From 6,500 MTPA to **11,000 MTPA** by **March 2026**, including a 4,500 MTPA increase.
- Commissioned a new **automated packaging line** near Hyderabad on October 31, 2024 — ahead of schedule — enhancing consumer pack exports by **25%**.
- Two new packaging lines added in the past two years, adding approximately **3,000 metric tons** of annual packaging capacity.
- Aims to reach **100% capacity utilization** with strong supply chain planning and green coffee sourcing over six-month visibility.
- Manufacturing unit spans **150,000 sq. ft**, producing both spray-dried and agglomerated instant coffee.
---
### **Product Portfolio & Innovation**
VCBL offers a diverse and evolving product range tailored to global consumer preferences:
- Core products: **Spray-dried** and **agglomerated instant coffee**, **instant chicory**, and blends.
- Launched **Natural Liquid Coffee** segment in June 2025 through VCPL, targeting foodservice channels in Southeast Asia.
- Developing new variants: single-origin, flavored, decaffeinated, and certified coffees (e.g., organic, fair trade).
- Known for its premium **Monsooned Malabar coffee**, a Geographical Indication (GI)-tagged product produced in Mangalore under optimal climatic conditions.
---
### **Market Presence & Export Strategy**
VCBL exports to over **25 countries**, with a strategic focus on high-growth and high-consumption regions:
- **Current Markets (as of 2025)**:
- Southeast Asia
- Europe (UK, Spain, etc.)
- Russia & CIS (strong customer base built within 12 months)
- Africa (premium range)
- Middle East
- Latin America (including Central America)
- China
- Australia
- West Africa
- **Recent Market Entry/Expansion**:
- Entered **Russia, CIS, Vietnam, New Zealand**, and **Gulf Cooperation Council (GCC)** countries.
- Expansion into **Europe** leverages high per capita coffee consumption.
- Plans to aggressively explore **USA, New Zealand**, and **Australia** (domestic sales) as part of future diversification.
- **Customer Base**:
- Serves **~43 key international clients** with nearly **1,000 custom coffee blends** developed.
- Maintains an impressive **95% customer retention rate**, attributed to product consistency, quality, and customization.
- Secured major supply contracts in **Southeast Asia**, the **Middle East**, **Europe**, **Russia**, and **West Africa**.
---
### **Strategic Initiatives**
VCBL is shifting from a pure B2B export model to a hybrid go-to-market strategy:
- **Entry into Domestic Market (India)**:
- Launched **Vintage Coffee Café Lounge** format in **Navi Mumbai** (Sept 2024), marking entry into India’s premium café segment.
- Appointed **Dhruvatara Marketing Pvt Ltd** as master franchisee to scale the café chain across Indian cities.
- Focus on **e-commerce**, **exclusive retail outlets**, **corporate vending**, and **HORECA** (Hotels, Restaurants, Cafés).
- Aims to introduce **proprietary brands** in **West Africa** and **Russia**.
- **Margin Optimization & Product Mix**:
- Shifting focus from **bulk spray-dried coffee** to higher-margin **consumer-packaged** and **agglomerated coffee**.
- Expansion into **liquid coffee** and **freeze-dried coffee** supports premiumization and margin growth.
---
### **Leadership & Vision**
Led by **Mr. Balakrishna Tati**, Chairman and Managing Director, who brings over 30 years of experience in the coffee industry. Previously instrumental in scaling Tata Coffee Ltd’s sales from $3M to $50M, and co-founded Delecto Foods in 2012 (growing exports from $2M to a projected $8M).
Under his leadership, VCBL has executed rapid plant commissioning, global market expansion, and innovation in product and format.
---
### **Sustainability & Future Roadmap**
- Focus on **eco-friendly certifications**, **rainwater harvesting**, and transitioning to **renewable energy**.
- Aligns with global trends toward **premium, certified, and health-conscious coffee alternatives**, including flavored and low-caffeine options.
- Strong R&D focus on **product development**, **packaging innovation**, and **sustainable sourcing**.