This document is a regulatory filing containing the transcript of the Q4 FY26 Earnings Conference Call for Vintage Coffee and Beverages Limited, hosted by Nuvama Wealth and Investment Limited. The call was held on May 25, 2026.

The event was an earnings conference call to discuss the audited financial results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2026. The management provided a detailed performance update and outlook.

Management participants included:

  • Mr. Balakrishna Tati – Chairman and Managing Director
  • Mr. Sai Teja Tati – Executive Director
  • Mr. Kranthi Kumar Yarkali – Chief Financial Officer
  • Mr. Jawahar Conjeevaram – Head- Sales and Marketing

The transcript is available on the company's website at https://vcbl.coffee/.

Financial Highlights Discussed

Q4 FY26 Performance:

  • Revenue: INR 165.3 crores (Growth of 57.2% YoY and 9.8% QoQ)
  • Gross Profit: INR 46.7 crores
  • EBITDA: INR 30.6 crores (EBITDA Margin: 18.5%)
  • Profit After Tax (PAT): INR 21 crores (PAT Margin: 12.7%)
  • Sales Volume: 1,924 metric tons

Full Year FY26 Performance:

  • Consolidated Revenue: INR 553.1 crores (Growth of 79.3% YoY)
  • EBITDA: INR 99.6 crores (Growth of 88.1% YoY; EBITDA Margin: 18%)
  • EBIT: INR 90.2 crores (Growth of 95.5% YoY)
  • PAT: INR 72.2 crores (Growth of 79.8% YoY; PAT Margin: 13.1%)
  • The company remained operating cash flow positive in FY26.
  • The Board recommended a dividend of INR 0.15 per equity share for FY26, subject to shareholder approval.

Operational and Strategic Updates

Capacity Expansion:

  • Successfully completed a brownfield expansion, increasing production capacity from 6,500 metric tons to 11,000 metric tons per annum (a 69% increase).
  • This expansion was funded entirely through internal accruals.
  • The expanded capacity is fully operational from Q1 FY27.

Freeze-Dried Coffee Project:

  • Execution is on track for a new freeze-dried coffee manufacturing facility with an annual capacity of 5,500 metric tons.
  • Total project capex is approximately INR 550 crores.
  • INR 150 crores has been incurred till date; the remaining INR 400 crores will be spent in a phased manner over the next year.
  • The facility is expected to be completed by Q2 FY27-'28 (likely July 2027).
  • Commercial operations are expected to start from July 2027, with ~70% capacity utilization targeted for FY28.

Guidance and Outlook:

  • For FY27, the company targets 95% utilization of the new 11,000 metric ton capacity, implying production of ~10,200-10,400 metric tons.
  • Realization per kg is expected to improve by 2-3% in FY27 due to a better product mix (focus on premium agglomerated coffee and consumer packs).
  • EBITDA margin is expected to be around 19% for FY27.
  • For FY28, with the contribution from the freeze-dried plant, EBITDA margin is targeted to be 20-21%.
  • For FY29, with full utilization of the freeze-dried plant, EBITDA margin is targeted to be 22-24%.
  • The sales mix by geography is: Africa (31%), CIS and Russia (22%), Southeast Asia (22%), Americas and Europe (18%), and local sales (5%).
  • The product mix is targeted at 40% bulk and 60% consumer packs for FY27.

Debt and Funding:

  • For the freeze-dried project, an additional INR 300 crores of debt (likely ECB) and INR 100 crores for working capital will be raised, taking the peak debt level to ~INR 400 crores by FY28.
  • The interest rate on ECB is expected to be ~4%, and with hedging, it will be ~6%. The interest rate on working capital debt is ~8.3-8.4%.
  • FY27 debt levels are expected to be in line with FY26, with a marginal increase of INR 30-40 crores.

Other Key Points from Q&A:

  • The company stated that geopolitical tensions have had no direct impact on its operations, as it is not focused on the Middle East or Western Asia.
  • Input costs, especially packaging materials, have seen a slight increase, which has been passed on to customers.
  • The company has no current plans to enter the Indian retail market but will focus on e-commerce platforms.
  • The global instant coffee production is ~1,000,000 metric tons and is growing by ~30,000 MT annually.

Additional Notes Section

  • The document is a compliance filing submitted to the BSE and NSE, enclosing the earnings call transcript.
  • The transcript was attached as an enclosure to the letter.
  • No financial presentation deck was referenced as being uploaded or discussed in this specific filing.