CCL Products India Ltd. share price target

CCL Products (CCLP) posted a robust consol. revenue growth at Rs 303Crs up 29% YoY primarily aided by healthy India operations. Operating EBITDA increased by 55% YoY to Rs. 84Crs along with margin expansion of 460bps to 27.8% in Q3FY20.

CCL Products (India) Ltd. (CCL) declared its Q3FY20 results recently. Consolidated net revenues and EBITDA grew by 29% & 55% Y-O-Y, on account of benign input cost, better product mix and higher utilisation. The EBITDA margin of the company improved by 460bps to...

CCL Products produces several varieties and blends of coffee including spray dried coffee powder, spray dried agglomerated / granulated coffee, freeze dried coffee and freeze concentrated liquid coffee. It is also certified to supply organic coffee, rainforest alliance coffee, UTZ certified coffee and...

The company has a total processing capacity of 35,000 MT per annum, having one of the largest capacity in India (20,000 MT) and Vietnam (10,000 MT). CCL Products' soluble instant coffee manufacturing plant is located in Duggirala Mandal, Guntur District, Andhra Pradesh, India (capacity of 20,000 MT per annum). CCL has set up a freeze dried instant coffee (a premium category of coffee) greenfield plant with capacity of 5,000 tonnes in Chittoor,...

We remain positive on CCL Product's strong business moat, market leadership in Instant Coffee production/exports and foray into branded retail business.

CCL Products (India) Ltd. (CCL) declared its Q2FY20 results recently. Consolidated net revenues grew by 3% Y-O-Y to `299 crs, impacted by lower realisation. Consolidated EBITDA for Q2FY20 decreased by 19% Y-O-Y basis to `62crs due to higher ad spend. Gross...

CCL Products India Ltd (CCLP) established in 1995, is the largest manufacturer and exporter of instant coffee (IC) in India. CCL Products is the largest exporter in B2B segment: Private Label (B2B) segment of the global instant coffee market is growing at a higher rate.

Raw material cost decreased by 19% Y-O-Y. Employee expenses and other expenses increased by 19%&8.5% Y-O-Y respectively. Depreciation increased by 17% Y-O-Y to `11 crs as SEZ came in operations from April 2019.EBIDTA margin for Indian...

CCL Products Q1FY20 revenue was in line with our forecast while EBITDA was 17.8% above our estimate. The company's EBITDA grew 9.0% YoY to Rs694 mn due to 377bps improvement in EBITDA margin to 25.4%. Despite 9.0% YoY growth in EBITDA, net profit decreased 12.1% YoY to Rs347 mn mainly due to higher tax rate at 36% in Q1FY20 vs. 24% in Q1FY19. Newly set up freeze dried plant sales stood at ~350 kt while Vietnam...

Sales volume declined as company has lost a 10-year-old client that contributed 5% to sales in FY19 (2000 MT @ `50 crs). The client has decided to backward integrate and start its own manufacturing unit. The company have added 20 new clients with total quantum of 500 tonnes p.a....