Vintage Coffee and Beverages (538920) Q4 13/14 earnings summary

Executive summary

• FY14 returned to profitability, with revenue of ₹7.11m and net profit of ₹1.86m, following a ₹28,984 loss in FY13.

• Board changes in February 2014 were described as part of efforts to revive the business and broaden its advisory base.

Financial highlights

• Sales and other income were ₹7,111,323 in FY14 versus ₹15,000 in FY13; operating profit (PBIDT) was ₹2,652,268 versus a ₹28,984 loss.

• Profit before tax was ₹2,652,268; tax expense included ₹860,000 current tax and a ₹70,328 deferred-tax credit, producing net profit of ₹1,862,596.

• Purchases of stock in trade were ₹4,103,500; other expenses totaled ₹355,555, versus ₹43,984 in FY13.

Outlook and guidance

• Board proposed moving the registered office from Delhi to Maharashtra, citing Mumbai business prospects and the potential to operate more efficiently and economically, subject to approvals.

• No dividend was recommended for FY14.