Q3 2026 Vintage Coffee and Beverages Ltd Earnings Call Transcript
Key Points
- Vintage Coffee & Beverages Ltd (BOM:538920) reported a 71% year-on-year growth in consolidated revenue for Q3 FY26, driven by higher volumes and improved geographic and product mix.
- EBITDA for the quarter increased by 79% year-on-year, with margins improving to 19.1% due to effective cost management and operating leverage.
- The company achieved full utilization of its existing instant coffee capacity of 6,500 metric tons per annum, supported by strong order inflow and efficient production planning.
- Cash flow from operating activities turned positive in Q3, indicating improved financial health and operational efficiency.
- The company is on track to expand its capacity by 69% to 11,000 metric tons per annum by the end of FY26, with additional expansions planned for the freeze-dried coffee segment.
- The company faces challenges from volatile raw material prices and currency movements, which could impact profitability.
- Despite positive cash flow in Q3, the company has experienced weak operating cash flow over the last 2-3 years.
- The tax rate is expected to increase to a full rate of 25% from Q4 onwards, which may impact net profitability.
- Inventory days remain high at around 110 days, primarily due to logistics issues and extended transit times.
- The company is planning significant capital expenditure, which will increase debt levels and may impact financial flexibility.
Ladies and gentlemen, good day and welcome to the Vintage Coffee and Beverages Limited Q3 FY26 earnings conference call hosted by Nuvama Wealth and Investment Limited.
As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing 0 on a touchstone phone.
I now have the conference over to Mr. Palashkali from Nuvama Wealth and Investment Limited.
Thank you and over to you, sir.
Thank you. Good afternoon, everyone. I welcome you all. On behalf of Nuvama Wealth, I thank the management of Vintage Coffee and Beverages for the opportunity to host their Q3 FY26 earnings call.
We have with us today Mr. Balakrishna Tati, Chairman and MD; Mr. Sai Teja Tati, Executive Director; Mr. Pritam Roy, Group Head; Mr. Kranthi Kumar Yarkali, Chief Financial Officer; and Mr. Jawahar Conjeevaram, Head of
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