India: September quarter better but it fails to cheer Coffee Day scrip that plunged 17% since listing

Concerns over Coffee Day’s corporate structure and financial health have ensured that the stock stays subdued. Photo: Pradeep Gaur/Mint

The share price of Coffee Day Enterprises Ltd has fallen 18% since listing. Concerns over its corporate structure (a holding company with varied and unrelated business interests such as coffee, real estate, logistics and financial services) and financial health (loss-making history and high debt) have ensured the stock stays subdued. Despite some signs of overall improvement, its results for the September quarter announced on 9 November after market hours have not moved the needle.

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