Arthneeti

CCL Products (India) Q2 FY27 Share Price & Earnings Call Analysis

₹932.00-1.51% today
Market cap
₹12,445 Cr
P/E
26.97
ROE
18.04%
PEG
2.45
Price to sales
2.65
Debt to equity
0.46
52W high / low
₹1,230 / ₹855
Sales growth (5Y)
29.11%
EBITDA margin
16.70%
Net profit margin
8.73%
Promoter holding
46.16%
Sales (last year)
₹4,686 Cr

CCL Products (India) is engaged in the production, trading and distribution of Coffee. The Company has business operations mainly in India, Vietnam and Switzerland countries.(Source : 202003 Annual Report Page No:119)

Guidance scorecard · Q2 FY27 call

What CCL Products's management guided
and where it ranks in Agricultural Food & other Products

#17of 20 in
Agricultural Food & other Products
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ2 FY27 call

10–20%
  • The company is targeting a 15% volume growth consistently, as reiterated by management multiple times.
  • EBITDA growth is expected to be in line with volume growth, around 15%, with EBITDA per kg remaining stable (INR130-140 per kg).
  • Continued focus on gaining market share in domestic and international markets.
  • Expansion initiatives into new products (e.g., banana chips) and B2C categories to support medium to long-term growth.
  • International branded business (e.g., Percol) is growing and expected to contribute increasingly.
  • Capacity expansion plans (especially in Freeze Dried Coffee, FDC) are underway to support volume growth in 1-2 years.

2 more points from CCL Products's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what CCL Products said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Company plans capacity expansion for freeze-dried coffee (FDC) as utilization nears full capacity within 1 to 1.5 years.
  • Capacity expansion decision expected by Q4 FY26 or Q1 FY27, considering about 9-12 months project lead time.
  • Expansion options include own capacity addition, strategic partnerships, contract manufacturing, or joint ventures; all routes are open given strong balance sheet and cash flows.
  • Capex cost for FDC expansion estimated around INR 500 crores, with some inflation adjustments compared to last expansion.
  • Working capital and capex allocation will be balanced, and sufficient cash flow and cushion exist to support both.

2 more points from CCL Products's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

Planned

See what CCL Products said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Rising
  • The order book for Q3 and Q4 looks robust, with strong orders in place.
  • The company expects to end the year meeting its guidance of around 15% volume growth and similar EBITDA growth.
  • November-December period is crucial in deciding future coffee price trends and contract inflows.
  • Typically, more contracts get added during November-December (pre-crop) and June-July (Brazil crop).
  • Customers have shown a wait-and-watch approach due to price fluctuations but are gradually returning to medium and long-term contracts.

2 more points from CCL Products's call on the order book

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Full Q2 FY27 analysis
Full Agricultural Food & other Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Agricultural Food & other Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does CCL Products rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Agricultural Food & other Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹911 Cr14.0
240%+Up 0–2%₹129 Cr7.0
340%+Flat₹23 Cr9.5
420–40%Up 2%+₹219 Cr15.0
520–40%Up 2%+₹190 Cr17.9
620–40%Up 0–2%₹2,595 Cr33.0

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Pro shows every company guiding 40%+ revenue growth →Full Agricultural Food & other Products ranking

Financials of CCL Products

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of CCL Products

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +5206556086647277737387588361,0561,1271,0511,224
Expenses +4075494985546096436016346738979308661,033
Operating Profit113106110111118130137124163159197185192
OPM %22%16%18%17%16%17%19%16%20%15%18%18%16%
Other Income +2011411342132
Interest11151823212127313434333230
Depreciation10222322312324252734393940
Profit before tax956970677087877210694127116123
Tax %10%13%13%5%7%18%15%12%4%23%21%14%7%
Net Profit +856161636571746310272101100115
EPS in Rs6.414.564.574.764.885.355.544.727.635.437.557.518.58

Financials of CCL Products

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +8819329761,1381,0811,1391,2421,4622,0712,6543,1064,457
Expenses +7097277448998368539451,1311,6712,2082,5513,724
Operating Profit171205232239245286298331400445555733
OPM %19%22%24%21%23%25%24%23%19%17%18%16%
Other Income +311534343688
Interest141111881817163478113129
Depreciation2728333432474957649898152
Profit before tax134167189202209225235261305276352461
Tax %30%27%29%27%26%26%22%22%7%9%12%16%
Net Profit +94122135148155166182204284250310388
EPS in Rs7.069.1810.1211.1411.6412.4713.7015.3621.3518.7323.2429.07
Dividend Payout %21%27%25%22%30%40%29%33%26%24%22%20%

Financials of CCL Products

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital272727272727272727272727
Reserves3954836027138129021,0611,2241,4711,6471,9412,318
Borrowings +2292101423114164695596559201,6221,8151,324
Other Liabilities +111817883166112142164180240459657
Total Liabilities7628018481,1341,4221,5091,7882,0702,5973,5364,2414,326
Fixed Assets +3404173933713837247988821,2571,2521,6222,027
CWIP5300226424100149160545014503
Investments222111000003
Other Assets +3673824535356136848411,0281,2861,7832,1692,293
Total Assets7628018481,1341,4221,5091,7882,0702,5973,5364,2414,326

Financials of CCL Products

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1051611021451629117111617355290858
Cash from Investing Activity +-19-87-20-247-175-88-153-192-307-527-415-70
Cash from Financing Activity +-93-82-8412942-3764916455953-757
Net Cash Flow-8-8-22729-3582-673086-7232
Free Cash Flow847484-78-80216-74-159-458-128788
CFO/OP86%97%67%84%89%50%66%47%52%19%57%124%

Financials of CCL Products

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days475061587986888078688167
Inventory Days1169912197123170198262187185208131
Days Payable298853516132324234432
Cash Conversion Cycle134142174150168240272319241230246166
Working Capital Days4537818943103597758404241
ROCE %23%26%27%23%19%18%17%16%16%12%13%16%

Guidance history

How CCL Products's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%FlatPlannedPlannedRising
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →10–20%FlatNone planned——
Q3 FY26 call →20–40%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

21out of 100

Momentum score · price trend

21 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+9.0%69%
Last 6 months−17.9%25%
Last 3 months−19.3%23%

The price is 24.2% below its all-time high of ₹1,229.7 (13 Jul 2026). Stocks more than 20% below their peak have their score halved, so 42 became 21.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For CCL Products: 0.4 × 69 + 0.4 × 25 + 0.2 × 23 = 42, halved to 21 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What CCL Products's management said in earlier quarters

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