CCL Products (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Instant Coffee: 99.7% • Trade Licences: 0.3%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 61.3% YoY, showing strong momentum
- Company has delivered good sales growth of 29.1% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.27x)
- Company has a consistent dividend-paying track record
CONS
- Operating margins have contracted to 14.7% from 19.5%
- Stock is trading at 6.0x its book value
- Expensive relative to growth - PEG of 3.0
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TATACONSUM | 991.55 | 60.02 | 98133.23 | 1.01 | 427.19 | 28.77 | 5348.88 | 11.93 | 10.10 | 13.21 |
| CCL | 1080.05 | 33.34 | 14421.68 | 0.53 | 116.88 | 61.33 | 1200.45 | 13.72 | 15.90 | 16.12 |
| ANDREWYU | 26.11 | 0.00 | 1276.65 | 0.00 | -2.34 | -111.60 | 58.30 | 5.08 | -1.45 | 8.66 |
| GOODRICKE | 217.35 | 7.42 | 469.48 | 0.92 | 40.87 | 1181.19 | 211.30 | 21.08 | 8.28 | 17.90 |
| MCLEODRUSS | 43.34 | 0.00 | 452.71 | 0.00 | -13.38 | 69.23 | 261.11 | 21.02 | -1.03 | 11.16 |
| PKTEA | 1121.75 | 65.08 | 347.28 | 0.07 | 3.69 | 370.56 | 11.60 | -1.11 | 1.28 | 5.17 |
| JAYSREETEA | 92.76 | 0.00 | 267.87 | 0.00 | -5.94 | 33.85 | 206.17 | 8.61 | 1.20 | 2.68 |
| UNITEDTEA | 432.95 | 18.34 | 216.33 | 0.74 | 6.38 | -20.51 | 19.83 | -10.49 | 11.28 | 25.60 |
| NEAGI | 3418.00 | 5.79 | 212.62 | 0.59 | 15.33 | -80.10 | 6.41 | -0.33 | 9.64 | 218.32 |
| ROSSELLIND | 55.26 | 15.02 | 208.31 | 0.72 | 24.30 | 88.37 | 749.30 | 6.51 | 8.99 | 10.68 |
| GROBTEA | 945.85 | 14.34 | 109.94 | 0.21 | 3.27 | 142.07 | 22.86 | 28.04 | 6.96 | 18.05 |
| NORBTEAEXP | 64.15 | 0.00 | 99.72 | 0.00 | 3.23 | 1033.33 | 12.90 | 946.23 | 2.98 | 51.40 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 655 | 608 | 664 | 727 | 773 | 738 | 758 | 836 | 1,056 | 1,127 | 1,051 | 1,224 | 1,200 | |
| 549 | 498 | 554 | 609 | 643 | 601 | 634 | 673 | 897 | 930 | 866 | 1,033 | 1,075 | |
| Operating Profit | 106 | 110 | 111 | 118 | 130 | 137 | 124 | 163 | 159 | 197 | 185 | 192 | 126 |
| OPM % | 16.23% | 18.09% | 16.69% | 16.26% | 16.85% | 18.57% | 16.41% | 19.53% | 15.07% | 17.50% | 17.61% | 15.67% | 10.49% |
| 0 | 1 | 1 | 4 | 1 | 1 | 3 | 4 | 2 | 1 | 3 | 2 | 3 | |
| Interest | 15 | 18 | 23 | 21 | 21 | 27 | 31 | 34 | 34 | 33 | 32 | 30 | 29 |
| Depreciation | 22 | 23 | 22 | 31 | 23 | 24 | 25 | 27 | 34 | 39 | 39 | 40 | 39 |
| Profit before Tax | 69 | 70 | 67 | 70 | 87 | 87 | 72 | 106 | 94 | 127 | 116 | 123 | 129 |
| Tax % | 12.55% | 12.68% | 5.11% | 7.38% | 18.02% | 15.29% | 12.30% | 3.80% | 23.08% | 20.65% | 13.77% | 6.99% | 9.42% |
| Net Profit | 0 | 0 | 0 | 0 | 71 | 74 | 63 | 102 | 72 | 101 | 100 | 115 | 117 |
| 4.56 | 4.57 | 4.76 | 4.90 | 5.37 | 5.55 | 4.73 | 7.65 | 5.45 | 7.57 | 7.53 | 8.60 | 8.77 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 976 | 1,137 | 1,081 | 1,139 | 1,242 | 1,462 | 2,071 | 2,654 | 3,106 | 4,457 | 4,602 | |
| 744 | 898 | 836 | 861 | 950 | 1,138 | 1,685 | 2,226 | 2,571 | 3,803 | 3,902 | |
| Operating Profit | 232 | 239 | 245 | 278 | 293 | 324 | 387 | 428 | 535 | 655 | 700 |
| OPM % | 23.77% | 20.99% | 22.70% | 24.42% | 23.55% | 22.17% | 18.66% | 16.13% | 17.23% | 14.69% | 15.21% |
| 1 | 5 | 3 | 12 | 9 | 11 | 17 | 23 | 29 | 87 | 9 | |
| Interest | 11 | 8 | 8 | 18 | 17 | 16 | 34 | 78 | 113 | 129 | 124 |
| Depreciation | 33 | 34 | 32 | 47 | 49 | 57 | 64 | 98 | 98 | 152 | 157 |
| Profit before Tax | 189 | 202 | 209 | 225 | 235 | 261 | 305 | 276 | 352 | 461 | 496 |
| Tax % | 28.77% | 26.60% | 25.76% | 26.35% | 22.37% | 21.80% | 6.90% | 9.47% | 11.90% | 15.76% | 12.72% |
| Net Profit | 135 | 148 | 155 | 166 | 182 | 204 | 284 | 250 | 310 | 388 | 433 |
| EPS | 10.12 | 11.14 | 11.64 | 12.47 | 13.70 | 15.36 | 21.35 | 18.80 | 23.24 | 29.07 | — |
| Dividend Payout % | 24.71% | 22.45% | 30.06% | 40.08% | 29.19% | 32.55% | 25.77% | 23.94% | 21.51% | 19.78% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 17%
- 5 Years:
- 29%
- 3 Years:
- 29%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 16%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- 15%
- 5 Years:
- 22%
- 3 Years:
- 17%
- 1 Year:
- 20%
RETURN ON EQUITY
- 10 Years:
- 19%
- 5 Years:
- 18%
- 3 Years:
- 17%
- Last Year:
- 18%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| 602 | 713 | 812 | 902 | 1,061 | 1,217 | 1,460 | 1,630 | 1,918 | 2,295 | |
| 101 | 308 | 379 | 401 | 479 | 565 | 840 | 1,531 | 1,625 | 1,133 | |
| Trade Payables | 12 | 10 | 57 | 25 | 22 | 46 | 74 | 100 | 221 | 254 |
| 107 | 75 | 146 | 155 | 200 | 216 | 197 | 251 | 451 | 619 | |
| Total Liabilities | 848 | 1,134 | 1,422 | 1,509 | 1,788 | 2,070 | 2,598 | 3,539 | 4,241 | 4,326 |
| 393 | 371 | 383 | 724 | 798 | 882 | 1,257 | 1,252 | 1,622 | 2,027 | |
| Capital Work in Progress | 0 | 226 | 424 | 100 | 149 | 160 | 54 | 501 | 450 | 3 |
| 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 183 | 183 | 202 | 260 | 320 | 519 | 578 | 788 | 1,052 | 1,042 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 497 | 690 | 817 | |
| Cash & Bank | 17 | 44 | 97 | 39 | 120 | 54 | 83 | 170 | 98 | 218 |
| 254 | 307 | 315 | 385 | 401 | 455 | 625 | 331 | 329 | 216 | |
| Total Assets | 848 | 1,134 | 1,422 | 1,509 | 1,788 | 2,070 | 2,598 | 3,539 | 4,241 | 4,326 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 155 | 202 | 219 | 144 | 197 | 155 | 208 | 55 | 290 | 858 | |
| Cash from Investing | -20 | -247 | -175 | -88 | -153 | -192 | -332 | -514 | -416 | -70 |
| Cash from Financing | -84 | 129 | 42 | -37 | 64 | 9 | 164 | 559 | 53 | -757 |
| -2 | 27 | 29 | -35 | 82 | -67 | 5 | 100 | -73 | 32 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - CCL Products (India) Limited has informed the Exchange regarding Allotment of 6785 Shares.
2026-09-08 - CCL Products (India) Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 08, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-08 - CCL Products (India) Limited has informed the Exchange about the link of the recording of the 65th Annual General Meeting
2026-09-08 - CCL Products (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 08, 2026
2026-08-17 - CCL Products (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on Tuesday, September 08, 2026, at 10:00 A.M. (IST) through Video Conferencing (VC)/ Other Audio-Visual Means.
2026-08-05 - CCL Products (India) Limited has informed the Exchange about Schedule of meet
2026-08-03 - CCL Products (India) Limited has informed the Exchange regarding Allotment of 4200 Shares.
2026-07-30 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that ICRA Limited has assigned credit ratings to the fund-based and non-fund-based bank facilities of CCL Products (India) Limited.
2026-07-30 - CCL Products (India) Limited has informed the Exchange about Transcript
News
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