Loading…
One of the world's largest instant coffee manufacturers, mainly supplying private-label coffee to global retailers and brands.
One of the world's largest instant coffee manufacturers, mainly supplying private-label coffee to global retailers and brands.
Buys green coffee beans, processes them into instant and freeze-dried coffee, and sells in bulk to retailers' private labels and coffee brands abroad, so margins reflect the spread between bean prices and the contract prices it can set. Plants are in India and Vietnam, and the Challa family runs the company.
In one line: A B2B instant-coffee manufacturer, like a coffee-focused contract manufacturer.
Moat: narrow (scale, cost advantage). Large-scale, low-cost instant coffee manufacturing capacity built for global private-label clients.
Headquarters: Guntur, India · Founded: 1961 · Employees: 3,514
Size CCL Products (India) (CCL.NS) is an India Consumer Staples company (Food: Specialty/Candy) with a market value of $1.37B, the 498th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹967.10 on 6 Nov 2026.
Performance Over six months the shares fell 19.9%, against -15.8% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 24.1% over the last twelve months (peer median +5.3%); the operating margin is 13.3% (peer median 6.2%).
Valuation It trades at 25.8× forward earnings against a peer median of 19.9× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +29%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.3 points above its cost of capital (11.3% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹46.9B | ₹44.6B | ₹31.1B | ₹26.5B | ₹20.7B |
| Revenue growth | — | +44% | +17% | +28% | — |
| Gross profit | ₹13.4B | ₹7.88B | ₹6.56B | ₹4.95B | ₹4.91B |
| EBITDA | ₹7.82B | ₹6.60B | ₹5.40B | ₹4.35B | ₹3.92B |
| Net income | ₹4.62B | ₹3.88B | ₹3.10B | ₹2.50B | ₹2.84B |
| Free cash flow | n/a | ₹6.63B | -₹2.39B | -₹5.35B | -₹1.93B |
| Capital expenditure | n/a | ₹698M | ₹4.18B | ₹5.13B | ₹3.32B |
| Total debt | ₹12.3B | ₹13.2B | ₹18.1B | ₹16.2B | ₹9.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CCL Products (India) CCL.NS | $1.37B | -20% | +24% | 13% | 25.8× | 17.9% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
| Tata Consumer Products TATACONSUM.NS | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CCL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.1% | +2.3% | 2nd lowest of 21 |
| 6-month return | -19.9% | -15.8% | 9th lowest of 21 |
| Distance from 52-week high | -22.1% | -29.0% | 9th highest of 21 |
| Revenue growth (TTM) | +24.1% | +5.3% | 3rd highest of 21 |
| Operating margin | 13.3% | 6.2% | 5th highest of 21 |
| Forward P/E | 25.8× | 19.9× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 17.9% | 3.1% | 4th most demanding of 14 |
| Growth delivered (Del g) | +29.1% | +8.8% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -11.2 pp | -7.4 pp | 5th least demanding of 14 |
| ROIC minus cost of capital | +2.3 pp | +0.2 pp | 7th highest of 21 |
| EV / EBITDA | 17.5× | 9.7× | 3rd most expensive of 14 |
| Net debt / EBITDA | 1.0× | 0.8× | 7th most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CCL Products (India) CCL.NS | India | $1.37B | -20% | +24% | 13% | 25.8× | 17.9% | +29.1% |
| Yantai China Pet Foods 002891.SZ | China | $1.39B | -15% | +21% | 4% | 32.6× | n/a | n/a |
| Huabao International 0336.HK | Hong Kong | $1.34B | -25% | +13% | 3% | 25.3× | 16.2% | -2.7% |
| Flowers Foods FLO | United States | $1.42B | -20% | +2% | 6% | 8.8× | -7.6% | +3.7% |
| Fufeng 0546.HK | Hong Kong | $1.31B | -37% | +1% | 4% | 7.4× | n/a | n/a |
| Manorama Industries MANORAMA.NS | India | $1.31B | +22% | +60% | 24% | 39.3× | 33.4% | +46.9% |
| Qianhe Condiment & Food 603027.SS | China | $1.43B | -21% | -6% | 14% | 23.9× | 3.1% | +8.8% |
| Morinaga & 2201.T | Japan | $1.28B | -8% | +3% | 9% | 12.3× | -5.7% | +7.1% |
| Chacha Food 002557.SZ | China | $1.46B | -17% | +8% | 8% | 15.8× | n/a | n/a |
| Bikaji Foods International BIKAJI.NS | India | $1.27B | -29% | +14% | 10% | 37.4× | 38.6% | +17.5% |
| NIPPN 2001.T | Japan | $1.50B | +8% | +2% | 5% | 11.3× | n/a | n/a |
| Shandong Bailong Chuangyuan Bio-Tech 605016.SS | China | $1.24B | -28% | +19% | 32% | 18.4× | 8.8% | +22.5% |
| Kagome 2811.T | Japan | $1.51B | +3% | +3% | 7% | 24.0× | 2.2% | +10.0% |
| Nisshin OilliO 2602.T | Japan | $1.22B | +13% | +8% | 3% | 18.0× | 3.1% | +10.5% |
| Italmobiliare ITM.MI | Italy | $1.20B | -8% | +8% | 14% | 12.0× | n/a | n/a |
| Snowsky Salt Industry 600929.SS | China | $1.20B | -29% | +32% | 1% | 54.7× | n/a | n/a |
| Sanquan Foods 002216.SZ | China | $1.56B | -18% | +7% | 5% | 18.1× | 2.6% | -1.1% |
| Lotte 004990.KS | South Korea | $1.18B | -27% | +1% | 2% | 69.5× | n/a | n/a |
| Nomad Foods NOMD | United States | $1.64B | +24% | +3% | 13% | 7.3× | -4.1% | +3.6% |
| Three Squirrels 300783.SZ | China | $1.66B | -12% | -13% | 2% | 21.5× | 19.5% | +0.8% |
| J & J Snack Foods JJSF | United States | $1.68B | +18% | -5% | 6% | 24.1× | 6.8% | +9.1% |