Vintage Coffee and Beverages bags Rs 21 crore export orders

New Delhi [India], November 10 (ANI/PNN): BSE Listed (BSE: 538920) Vintage Coffee and Beverages Ltd has informed the Exchange that it bagged orders worth Rs 21 crore to export instant coffee to Russia and other CIS countries.

The new orders will boost the order book position to Rs 61 crore and help the company leverage its position in the fast-growing instant coffee market, managing director Balakrishna Tati said.Other group companies of Vintage Coffee and Beverages are in an advanced stage of finalisation of orders with European and West African customers for supply of consumer packs, the company said in a press communique.

Vintage Coffee and Beverages is a holding company of Vintage Coffee, a 100 per cent export-oriented unit incorporated in 2015 in Hyderabad. Its instant coffee plant in the Mahbubnagar district, on 23 acres, was commissioned in 12 months. The 1.50 lakh sq.ft. factory is equipped with the latest technology to manufacture both spray dried and agglomerated instant coffee, the company said.

The company has a State of the art technology to produce high-quality of coffee.

Vintage said, in association with group companies, it is keen on launching coffee products in soluble, roast and ground forms. The move is being considered in the backdrop of coffee consumption in India increasing post pandemic and the younger generation being more inclined towards coffee.

Meanwhlile, net profit of Vintage Coffee & Beverages rose 3000 per cent to Rs 0.31 cr.in the quarter ended September 2022 and Sales rose 3283 per cent to Rs 9.88 crore in the quarter ended September 2022.

This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)

Source: Business