NSE: CCL · BSE: 519600 · ISIN INE421D01022
CCL Products (India) Limited stock analysis
CCL Products (India) Limited ranks #841 in the TickerSutra evidence-ranked universe with a score of 59/100 and 95% data confidence. The latest captured fundamentals show ROCE of 15.8%, quarterly sales growth of 13.7% and quarterly profit growth of 61.3%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.17×
- 29.1% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,462cr | ₹331cr | ₹204cr | 23.0% |
| 2023 | ₹2,071cr | ₹400cr | ₹284cr | 19.0% |
| 2024 | ₹2,654cr | ₹445cr | ₹250cr | 17.0% |
| 2025 | ₹3,106cr | ₹555cr | ₹310cr | 18.0% |
| 2026 | ₹4,457cr | ₹734cr | ₹388cr | 16.0% |
| TTM | ₹4,602cr | ₹767cr | ₹433cr | 17.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
CCL Products (India) Limited has informed the Exchange regarding Allotment of 2100 Shares. The same is being given in supersession to our earlier disclosure dated 25.09.2026
RoutineCCL Products (India) Ltd - 519600 - Closure of Trading WindowBSE · 28 Sept 2026This is to inform you regarding the trading window closure for the quarter and half year ended September 30, 2026.
RoutineCCL Products (India) Ltd - 519600 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSBSE · 28 Sept 2026We wish to inform you that, in supersession to our announcement dated 25.09.2026, we have allotted 2100 equity shares pursuant to CCL Employee Stock Option Scheme, 2022
RoutineESOP/ESOS/ESPSNSE · 25 Sept 2026CCL Products (India) Limited has informed the Exchange regarding Allotment of 2100 Shares.
RoutineCCL Products (India) Ltd - 519600 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSBSE · 25 Sept 2026This is to inform you that 2100 equity shares of Rs. 2/- are being exercised and allotted pursuant to the CCL Employee Stock Option Scheme, 2022
MANAGEMENT COMMENTARY
Signals from filed documents
Strengthened Global Customer Partnerships Despite a challenging operating environment, the Company maintained uninterrupted customer service, resilient supply chains, and consistent execution, further strengthening strategic partnerships with leading global retailers and coffee brands while reinforcing its reputation as a trusted partner. Enhanced Global Market Leadership Today, CCL products reach customers across mo
Adoption of sustainable water management practices is crucial for long-term stability and sustainability of the Company. Opportunity - The Company sees opportunities to boost its resource efficiency and improvement in margins by investing in water conservation initiatives. Rainwater harvesting and wastewater recycling help to reduce dependence on external sources, cutting costs and ensuring a stable supply.
Your Company continued to manage procurement, production planning, and customer servicing efficiently despite the evolving external environment. Its operational flexibility and integrated operational network strengthened supply chain resilience and reinforced its competitive positioning across international markets. Although geopolitical and macroeconomic uncertainties may continue to influence near-term business con
Despite these challenges, your Company demonstrated strong operational resilience, sustaining its growth momentum and profitability. Capacity expansions completed in the previous year are now strengthening the Company’s ability to meet growing customer demand and support its next phase of growth. During the year, the Company continued to strengthen its product mix and value proposition, with increased focus on value-
The unlocked trapped liquidity, has been directed towards debt reduction, derisking our balance sheet. Balance Sheet Deleveraging Progress Gross Debt ₹ 1813 Crores as at March 31, 2025, has been substantially reduced to ₹ 1291 Crores as at March 31, 2026. Net Debt ₹ 1716 Crores as at March 31, 2025, has been substantially reduced to ₹ 1073 Crores as at March 31, 2026.
Negative - Responsible procurement risks can lead to financial setbacks for the Company. Unethical sourcing practices may incur regulatory fines, loss of operating license, supply chain disruptions and higher compliance costs. Reputational damage could erode customer loyalty, reducing sales and market share.
However, these transactions are not likely to have any conflict with the Company’s interest. The Policy on materiality of Related Party Transactions and on dealings with Related Party Transactions as approved by the Board is uploaded on the website of the Company and may be accessed through the link, https://www.cclproducts.com/wp- content/uploads/2026/04/Policy-on-dealing-with- Related-Party-Transactions.pdf b. Ther
The facility of participation at the AGM through VC/OAVM will be made available to at least 1000 members on first come first served basis. This will not include large shareholders (shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee,
One is that when we are doing quarter-to-quarter, and that's the reason we always say that probably see it in a -- look at the numbers with a larger horizon perspective because there are quarter-to-quarter differences that do creep in, in terms of when you look at the business at smaller business units, right? For example, when you're seeing stand-alone, this year and just before your question, I was answering Dipak'
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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