CCL Products India Limited (CCL), is India's largest manufacturer and exporter of instant coffee products, with a presence in ~60 countries across the world. Its coffee products include pure soluble coffee products comprising spray dried coffee powder and granules, freeze dried coffee, and freeze concentrate liquid coffee. With traction in the overall business, management expects utilization in both India and Vietnam in FY16 to rise to ~75% (~50% in FY15). EBITDAM in Vietnam operations stand at ~25% (~20% in India). With traction in Vietnam operations we expect contribution of Vietnam to top line increasing to 30% in FY17 (22.2% in FY15), leading to overall revenue growth at a CAGR of 24% through FY17. We also...