New Delhi (India), November 2022: BSE Listed (BSE: 538920) Vintage Coffee and Beverages Ltd has informed the Exchange that it bagged orders worth ₹21 crore to export instant coffee to Russia and other CIS countries.
The new orders will boost the order book position to ₹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% export oriented unit incorporated in 2015 in Hyderabad. Its instant coffee plant in 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% to Rs 0.31 cr.in the quarter ended September 2022 and Sales rose 3283% to Rs 9.88 crore in the quarter ended September 2022.
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor