1. Opening Hook
You know it’s a bullish quarter when even the management starts the call with a caffeine rush. Vintage Coffee, once a modest exporter, now talks in metric tons and million-dollar expansion plans like it’s brewing the next Starbucks of Nalgonda. Chairman Balakrishna Tati opened with a nostalgic “I’ve been in coffee for 30 years” and ended with a promise offreeze-dried domination. Sounds steamy, right? Grab a mug—because this blend’s getting bolder by the quarter.
2. At a Glance
- Revenue ₹135.6 crore (+89% YoY):The caffeine gods are pleased.
- EBITDA ₹23.7 crore (+106% YoY):Margins stronger than espresso shots.
- PAT ₹17.8 crore (+137% YoY):From bean to green—profits percolating.
- H1 Revenue ₹237 crore (+106% YoY):Double-shot growth confirmed.
- H1 EBITDA ₹42.8 crore (+118% YoY):Costs contained, aroma intact.
- Capacity Utilization 100%:Machines working harder than interns.
- Expansion in Progress:4,500 MT brownfield + 5,000 MT freeze-dried dream.
- Export Footprint:From Europe to Latin America—coffee diplomacy in full swing.
3. Management’s Key Commentary
“We are one of the best companies in India with sophisticated coffee equipment.”(Translation: Our machines are shinier than your espresso machine at Starbucks.)☕
“Both plants are running at 100% utilization.”(Translation: Every bean roasted, every intern toasted.)
“We’re adding 4,500 MT brownfield capacity by March 2026.”(Translation: Expansion without losing sleep—or equity.)
“Freeze-dried coffee plant coming by March 2027.”(Translation: Fancy coffee = fancy margins. Bring it on.)😎
“EBITDA margins rose from ₹110/kg to ₹135/kg due to consumer packs.”(Translation: Smaller packs, bigger profits. Retail wins again.)
“Freeze-dried margins are 30–40% higher than spray-dried.”(Translation: We’ve discovered the premium of cold coffee.)❄️
“No equity dilution planned; funding expansion through internal accruals and debt.”(Translation: We’ll take loans, not shareholders’ patience.)
4. Numbers Decoded
| Metric | Q2 FY26 | YoY Growth | Commentary |
|---|---|---|---|
| Revenue | ₹135.6 Cr | +89% | Global demand perking up |
| EBITDA | ₹23.7 Cr | +106% | Strong mix of premium blends |
| PAT | ₹17.8 Cr | +137% | Profit sweeter than mocha |
| H1 Revenue | ₹237 Cr | +106% | Half-year roast well done |
| Capacity Utilization | 100% | – | Running full steam |
| EBITDA Margin | ~17.5% | ↑ | Strong operational efficiency |
| Capex – Brownfield | ₹45 Cr | – | Funded by internal cash |
| Capex – Freeze Dried | ₹450 Cr | – | Funded via debt, commissioning FY27 |
| Coffee Exports | 30+ countries | – | From Brazil to Beijing |
Quick Brew:They’re already outgrowing their roasters and planning the next wave before this one cools.
5. Analyst Questions
Q:When will the new 4,500 MT capacity be ready?A:By March 2026; full utilization within two months.(Translation: No delays, just strong filter coffee discipline.)
Q:Freeze-dried timelines?A:FY27-end commissioning, European equipment already ordered.(Translation: Espresso machines with EU accents.)
Q:Impact of coffee price volatility?A:Contracts are cost-plus; margins safe.(Translation: Price swings? Not our problem, boss.)
Q:Margins jumped—why?A:Consumer packs & agglomerated focus; higher realization.(Translation: Selling less, earning more—MBA-approved.)
Q:Any equity dilution coming?A:Nope. Pure debt and internal cash flow brew this story.(Translation: Investors can sleep; lenders can’t.)
6. Guidance & Outlook
Management targets completion of thebrownfield expansion
