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CCL Products (India) Limited (CCL)

₹1,008.30 -7.10% last close, 16 Oct

📊 NSE: CCL 🏢 Tea 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

CCL Products (India) Limited reported Q2 FY27 results on 15 Oct 2026: revenue ₹1,211 Cr (+7.5% year on year, +0.9% on the previous quarter), and net profit ₹130 Cr (+29.0% year on year); the operating margin was 17.5%.

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Revenue	₹1,211	+7.5%	+0.9%
Operating profit	₹212	+7.6%	+9.6%
Net profit	₹130	+29.0%	+11.3%
EPS (₹)	9.77	+29.1%	+11.4%
Operating margin	17.5%	—	—

Profit -13% below its own trend

Quality of profit: of pre-tax profit of ₹151 Cr, ₹146 Cr (97%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +15.9% year on year.

Against its own trend: net profit of ₹130 Cr was -12.7% against the ₹149 Cr its recent growth pointed to (below trend). This is a statistical baseline, not an analyst estimate.

Share price since the results: -7.1% (close before the filing to the latest close).

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

CCL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 39.1% of the CCL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.03%. The price fell 7.10% on unusually low delivery. It traded 10.2 times its average daily volume.

39.1%Delivery, 16 Oct

52.03%Own 20-session average

10.2×Volume vs its average

₹1,008.30NSE close · -7.10%

Delivery in the last 5 sessions: 64.3% · 55.0% · 45.3% · 36.1% · 39.1%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

CCL Products Q2 FY27 Standalone Revenue Up 22.5% YoY to ₹685.05 Cr; CS Sridevi Dasari Resigns

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 15 Oct 2026, 08:33 PM

CCL Products (India) reported its Q2 FY27 unaudited standalone results with revenue from operations rising 22.5% YoY to ₹685.05 Cr compared to ₹559.18 Cr in Q2 FY26. Standalone net profit stood at ₹43.06 Cr, reflecting a drop from ₹112.26 Cr in Q2 FY26, which was inflated by ₹70.42 Cr of other income from its Vietnamese subsidiary. Standalone basic EPS for the quarter came in at ₹3.23. Alongside earnings, the Board approved the resignation of CS & Compliance Officer Sridevi Dasari (effective Nov 14, 2026) and the appointment of Kallepally Bharath Kumar (effective Nov 15, 2026).

Standalone revenue from operations reached ₹68,505.45 Lakhs (₹685.05 Cr), up 22.5% YoY from ₹55,918.02 Lakhs
Standalone net profit stood at ₹4,306.19 Lakhs (₹43.06 Cr) vs ₹11,226.45 Lakhs in Q2 FY26 (prior period included ₹7,042.12 Lakhs subsidiary income)
Standalone basic EPS reported at ₹3.23 per share of ₹2 face value
H1 FY27 standalone revenue grew to ₹1,26,180.47 Lakhs compared to ₹1,09,399.09 Lakhs in H1 FY26
CS Sridevi Dasari resigns effective Nov 14, 2026; Kallepally Bharath Kumar appointed CS effective Nov 15, 2026

💡 Track the full consolidated performance details and management commentary regarding input bean cost pressures and international retail capacity utilization.

CCL Products Q2 FY27 Standalone Revenue Up 22.5% YoY to ₹685.05 Cr; CS Sridevi Dasari Resigns

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 15 Oct 2026, 08:32 PM

Standalone revenue from operations reached ₹68,505.45 Lakhs (₹685.05 Cr), up 22.5% YoY from ₹55,918.02 Lakhs
Standalone net profit stood at ₹4,306.19 Lakhs (₹43.06 Cr) vs ₹11,226.45 Lakhs in Q2 FY26 (prior period included ₹7,042.12 Lakhs subsidiary income)
Standalone basic EPS reported at ₹3.23 per share of ₹2 face value
H1 FY27 standalone revenue grew to ₹1,26,180.47 Lakhs compared to ₹1,09,399.09 Lakhs in H1 FY26
CS Sridevi Dasari resigns effective Nov 14, 2026; Kallepally Bharath Kumar appointed CS effective Nov 15, 2026

💡 Track the full consolidated performance details and management commentary regarding input bean cost pressures and international retail capacity utilization.

CCL Products Transfers 6,785 Equity Shares Under ESOP Scheme 2022

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Sep 2026, 05:36 PM

CCL Products (India) Limited has informed stock exchanges regarding the exercise of 6,785 equity shares under the CCL Employee Stock Option Scheme - 2022. The shares of face value Rs. 2/- each were exercised by eligible employees upon completing their vesting period. These shares are being transferred from the existing CCL Employees Trust, meaning there is zero change in the company's paid-up share capital. The transfer causes no equity dilution for existing shareholders.

6,785 equity shares exercised by eligible employees under CCL Employee Stock Option Scheme - 2022
Face value of shares is Rs. 2/- each
Shares transferred directly from CCL Employees Trust, resulting in no change to paid-up equity share capital
The exercised shares rank pari-passu with existing equity shares of the company

💡 Track regular quarterly operational updates and financial results, as this administrative ESOP transfer has no financial or dilutive impact.

CCL Products Shareholders Approve ₹3.00/Share Final Dividend at 65th AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 08 Sep 2026, 06:33 PM

CCL Products (India) Limited concluded its 65th Annual General Meeting on September 08, 2026, where shareholders approved all five proposed resolutions. Notably, an ordinary resolution to declare a final dividend of ₹3.00 per equity share of face value ₹2.00 for FY26 was passed with 99.9998% votes in favor. Institutional support for the reappointment of directors Smt. Challa Shantha Prasad and Sri B. Mohan Krishna faced minor opposition, receiving 14.535% and 21.134% institutional votes against, respectively, but both passed comfortably overall. The audited standalone and consolidated financial statements for FY26 were also formally adopted.

Final dividend of ₹3.00 per share (face value ₹2.00) approved with 10,00,68,148 votes in favour (100.00%)
Adoption of FY26 audited financial statements passed with 99.9998% voting support
Re-appointment of Director Sri B. Mohan Krishna passed with 91.97% overall favour, despite 21.13% institutional votes against
Re-appointment of Director Smt. Challa Shantha Prasad approved with 94.48% votes in favour
Total of 67,424 shareholders were on record as of the cutoff date September 01, 2026

💡 Track the upcoming dividend payout timeline and the forthcoming Q2 FY27 operational performance and coffee bean price impacts.

CCL Products Shares Video Recording Link of 65th AGM Held on September 8, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Sep 2026, 05:01 PM

CCL Products (India) Limited has made available the video recording of its 65th Annual General Meeting (AGM) held on September 8, 2026. The submission is made in compliance with Regulation 30 of the SEBI Listing Regulations. The recording is publicly accessible on the company's website for investor review. This is a standard statutory disclosure with no direct financial impact.

Video recording link uploaded for the 65th Annual General Meeting
AGM was conducted on September 08, 2026
Filing submitted under Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Investors interested in management commentary, growth strategies, or shareholder queries can access the published video recording via the company website.

CCL Products Concludes 65th AGM With 58 Members Attending via Video Conference

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 04:53 PM

CCL Products (India) Limited concluded its 65th Annual General Meeting (AGM) on September 8, 2026, held through Video Conferencing. A total of 58 members attended, including 4 from the Promoter and Promoter Group. The meeting ran from 10:00 AM to 11:20 AM IST, with e-voting conducted post-proceedings. The Chairman confirmed no qualifications in either the Statutory or Secretarial Auditors' reports.

65th Annual General Meeting conducted on September 8, 2026
Meeting commenced at 10:00 A.M. and concluded at 11:20 A.M.
Total 58 members attended via video conference, including 4 promoter group members
No qualifications reported in statutory or secretarial auditor reports

💡 Track the upcoming disclosure of official e-voting results and the Scrutinizer's Report on stock exchanges for resolution approval margins.

CCL Products Issues FY26 Annual Report; 65th AGM Scheduled for Sept 8, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Aug 2026, 10:12 PM

CCL Products has dispatched the notice for its 65th Annual General Meeting scheduled for September 08, 2026, alongside its FY 2025-26 Annual Report. In the report, the company reported consolidated FY26 revenue of ₹4,457.37 crore, marking a 43.5% YoY growth, with consolidated PAT up 25.1% to ₹388.11 crore. Operating performance showed EBITDA at ₹741.37 crore and Return on Capital Employed (ROCE) expanding to 22.15% from 18.21% in FY25. The company currently exports to 110+ countries and reaches over 1.70 lakh domestic retail outlets.

65th Annual General Meeting scheduled for September 08, 2026, at 10:00 AM IST via VC/OAVM
Consolidated FY26 revenue rose 43.5% YoY to ₹4,457.37 crore compared to ₹3,105.75 crore in FY25
Consolidated PAT increased 25.1% YoY to ₹388.11 crore, with EBITDA reaching ₹741.37 crore
ROCE improved by 394 bps to 22.15% in FY26 from 18.21% in the preceding fiscal year
Global footprint covers 110+ export countries, supported by a network of 1.70 lakh+ domestic retail outlets

💡 Track voting outcomes and management commentary at the upcoming AGM on September 08, 2026, alongside the progress on domestic retail distribution expansion.

CCL Products to Participate in Nirmal Bang Investor Conference on August 10, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 02:17 PM

CCL Products (India) Limited has announced its participation in the Nirmal Bang Institutional Equities' Semi-Annual Investor Conference in Mumbai. The event is scheduled for August 10, 2026, and will involve a combination of group and one-on-one meetings with institutional investors. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during these interactions. This routine engagement follows a strong FY26 performance where the company reported a TTM revenue of ₹3,936 Cr and a PAT of ₹347 Cr.

Investor conference scheduled for August 10, 2026, in Mumbai.
Participation includes both group and one-on-one institutional meetings.
Company maintains a TTM revenue base of ₹3,936 Cr as of the latest financial context.
Strategy involves doubling retail reach to 300,000 outlets within 3 years.
Operating Profit Margin (OPM) stands at 16.6% for the TTM period.

💡 Investors should monitor for any post-event investor presentations or transcripts that may provide qualitative updates on the Vietnam capacity optimization or domestic retail expansion progress.

4,200 Shares Transferred Under CCL Employee Stock Option Scheme 2022

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Aug 2026, 08:03 PM

CCL Products (India) Limited has transferred 4,200 equity shares to an eligible employee following the exercise of options under its 2022 ESOP scheme. The shares were transferred from the CCL Employees Trust, which means the total paid-up share capital of the company remains unchanged at 13,35,27,920 shares. The exercise price was set at the face value of Rs 2 per share. Given the company's market capitalization of approximately Rs 15,000 crore, this transaction is immaterial to the overall capital structure.

4,200 equity shares of face value Rs 2 each were transferred to an eligible employee.
The exercise price was Rs 2 per share, representing no premium over the face value.
Total paid-up share capital remains constant at Rs 26,70,55,840.
The transaction involved a transfer from the CCL Employees Trust, resulting in zero dilution for existing shareholders.

💡 No action is required as this is a routine procedural filing related to employee compensation and does not impact the company's fundamentals.

ICRA assigns [ICRA] AA (Stable) rating to Rs 1,200 Cr bank facilities of CCL Products

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 30 Jul 2026, 06:24 PM

ICRA Limited has assigned a new long-term credit rating of [ICRA] AA (Stable) and a short-term rating of [ICRA] A1+ to CCL Products' bank facilities totaling Rs 1,200 crore. This rated amount is significant, representing approximately 30.5% of the company's TTM revenue and 87% of its net worth. The facilities include Rs 1,125.80 crore in fund-based limits and Rs 29.20 crore in term loans. These ratings provide a second independent credit opinion alongside existing ratings from India Ratings & Research.

Total bank facilities rated by ICRA amount to Rs 1,200 crore
Long-term fund-based facilities of Rs 1,125.80 crore assigned [ICRA] AA (Stable) rating
Short-term non-fund based facilities of Rs 45.00 crore assigned [ICRA] A1+ rating
The rated amount of Rs 1,200 crore is nearly double the current reported debt of Rs 625 crore
Ratings are in addition to existing credit ratings from India Ratings & Research disclosed in April 2026

💡 Investors should monitor the company's debt utilization levels as it pursues its strategy to double retail reach to 300,000 outlets over the next three years.

61% PAT Growth in Q1 FY27; Net Debt Falls Below ₹1,000 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 30 Jul 2026, 02:00 PM

CCL Products reported a robust Q1 FY27 with net profit surging 61.31% YoY to ₹116.87 cr, driven by a 20% volume growth that exceeded management's 15% guidance. Revenue grew 13.76% to ₹1,203.59 cr, while EBITDA rose 21.84% to ₹196.69 cr, reflecting strong operational leverage. A significant highlight is the continued deleveraging, with net debt dropping to ₹963 cr from ₹1,073 cr in March 2026. The domestic branded business contributed ₹125 cr, showing consistent market share gains.

Net Profit surged 61.31% YoY to ₹116.87 cr in Q1 FY27
Volume growth reached 20% for the quarter, surpassing the long-term guidance of 15%
Net debt reduced by approximately ₹110 cr in a single quarter to reach ₹963 cr
Domestic branded business turnover stood at ₹125 cr out of ₹180 cr total domestic sales
Working capital days significantly improved, having reduced by 80 days to 166 days in the preceding fiscal

💡 Monitor the impact of the El Nino weather pattern on the Vietnam coffee crop in Nov-Dec 2026, which could influence input costs. Investors should also track the company's progress in doubling its domestic retail reach to 300,000 outlets over the next three years.

CCL Products Releases Q1 FY27 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Jul 2026, 05:55 PM

CCL Products (India) Limited has uploaded the audio recording of its Q1 FY 2026-27 earnings conference call held on July 28, 2026. The call discussed the financial results for the quarter ended June 30, 2026. This is a standard regulatory disclosure following the quarterly earnings release. Investors can access the recording on the company's website to hear management's commentary on the TTM revenue of ‡3,936 Cr and their strategy to double retail reach to 300,000 outlets.

Conference call held on July 28, 2026, to discuss Q1 FY27 performance
Audio recording link provided for the quarter ended June 30, 2026
Company operates with a TTM revenue of ‡3,936 Cr and PAT of ‡347 Cr
Strategic focus remains on doubling domestic retail reach to 300,000 outlets in 3 years

💡 Investors should listen to the recording for management's qualitative commentary on coffee bean price volatility and the progress of global capacity optimization following the Vietnam expansion.

CCL Q1 FY27 PAT Surges 61% YoY to ₹116.87 Cr; ₹3 Final Dividend Announced

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 27 Jul 2026, 07:06 PM

CCL Products reported a strong start to FY27 with consolidated revenue growing 13.7% YoY to ₹1,200.45 Cr. Net profit witnessed a significant jump of 61.3% YoY to ₹116.87 Cr, compared to ₹72.45 Cr in the same quarter last year. The company maintained healthy margins despite global coffee price volatility, with EPS rising to ₹8.77 from ₹5.45. Additionally, the board has fixed September 1, 2026, as the record date for a ₹3 per share final dividend.

Consolidated Revenue from operations grew 13.7% YoY to ₹1,200.45 Cr from ₹1,055.64 Cr.
Consolidated Net Profit increased by 61.3% YoY to ₹116.87 Cr, significantly outpacing revenue growth.
Final dividend of ₹3 per equity share (150% of face value) declared with a record date of September 1, 2026.
Consolidated EPS for the quarter stood at ₹8.77, up from ₹5.45 in Q1 FY26.
Standalone PAT was lower at ₹22.40 Cr, indicating that international subsidiaries (Vietnam/Switzerland) continue to be the primary profit drivers.

💡 Investors should monitor the sustainability of these high margins in the international business and track the progress of the domestic retail reach expansion toward the 300,000-outlet target.

Rs 3 Final Dividend: CCL Products Sets September 1, 2026, as Record Date

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 27 Jul 2026, 07:04 PM

CCL Products (India) Limited has finalized September 1, 2026, as the record date for its final dividend of Rs 3 per equity share for FY 2025-26. This dividend was previously recommended by the Board on May 7, 2026. Based on the current market price of Rs 1188.8, the dividend yield stands at approximately 0.25%. The payout represents roughly 11.5% of the company's TTM EPS of Rs 26.04.

Final dividend of Rs 3 per equity share of face value Rs 2 each.
Record date for determining shareholder eligibility is September 1, 2026.
Dividend recommendation was originally made during the Board meeting on May 7, 2026.
The payout represents a 150% dividend on the nominal face value of the shares.

💡 Investors interested in the dividend should monitor the ex-dividend date, which typically falls one business day prior to the September 1 record date.

61% YoY PAT Growth in Q1 FY27; Rs 3 Final Dividend Announced

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 27 Jul 2026, 06:48 PM

CCL Products reported a strong consolidated performance for Q1 FY27, with revenue growing 13.7% YoY to ₹1,200.45 cr. Net profit surged 61.3% YoY to ₹116.87 cr, significantly outpacing revenue growth due to improved operational efficiencies in overseas subsidiaries. The board has fixed September 01, 2026, as the record date for a final dividend of ₹3 per share. While consolidated figures were robust, standalone PAT saw a decline to ₹22.40 cr from ₹31.36 cr YoY, highlighting the heavy reliance on international operations.

Consolidated Revenue from operations grew 13.7% YoY to ₹1,200.45 cr in Q1 FY27.
Consolidated Net Profit increased by 61.3% YoY to ₹116.87 cr, up from ₹72.45 cr in Q1 FY26.
Final dividend of ₹3 per equity share (150% of face value) announced with a record date of September 01, 2026.
Consolidated Basic EPS improved to ₹8.77 compared to ₹5.45 in the corresponding quarter of the previous year.
Standalone revenue stood at ₹576.75 cr, contributing approximately 48% to the consolidated top line.

💡 Investors should monitor the margin sustainability in the Vietnam and Singapore subsidiaries, which are currently driving the consolidated profit growth. The upcoming AGM on September 08, 2026, will be key for updates on the domestic retail expansion strategy.

View All CCL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 18% YoY to reach INR 3,105.75 Cr. The company operates primarily in a single business segment: Coffee and Coffee-related products. While an FMCG Products Division exists, it does not currently meet the quantitative thresholds for separate reporting.

Geographic Revenue Split

The company maintains operations in India, Vietnam, and Switzerland. It is expanding its presence in Southeast Asia, Europe, and Latin America through private label growth and branded retail.

Profitability Margins

Consolidated net profit stood at INR 310.34 Cr, while standalone net profit was INR 92.30 Cr. Profitability is driven by improved capacity utilization and operational efficiencies, though gross margins are lower in B2B compared to B2C, while net margins are higher in B2B due to zero marketing spend.

EBITDA Margin

Not explicitly disclosed as a percentage, but the company reported 'resilient operating margins' despite global volatility, supported by a diversified product portfolio and disciplined cost management.

Capital Expenditure

Capital expenditure was funded through strong cash flows from operations to support capacity expansion, specifically the optimization of global capacity following the Vietnam expansion.

⚙️ Operational Drivers

Raw Materials

Coffee beans (primary raw material) and packaging materials for the FMCG division.

Import Sources

Sourced globally to support operations in India and Vietnam; specific countries beyond Vietnam and India are not listed.

Capacity Expansion

Currently optimizing global capacity following the Vietnam expansion. The company aims to double its domestic retail reach from 150,000 outlets to 300,000 outlets within the next 3 years.

Raw Material Costs

Raw material costs are a significant portion of expenses; the company uses strategic raw material stocking to mitigate the impact of fluctuating coffee bean prices which can adversely affect the bottom line.

Manufacturing Efficiency

Efficiency is driven by automated blending systems, predictive maintenance frameworks, and improved throughput to reduce waste.

Logistics & Distribution

The company currently distributes directly to 130,000-140,000 outlets, with a total reach of 150,000. Expansion is calibrated to ensure throughput matches the cost of reaching additional outlets.

📈 Strategic Growth

Expected Growth Rate

11%

Growth Strategy

Growth will be achieved by doubling retail outlet reach to 300,000 in 3 years, premiumizing the portfolio with specialty and flavored SKUs, scaling branded retail domestically, and expanding private label segments in Southeast Asia and Europe. The company is transitioning from a manufacturing-first model to a customer-experience-driven global coffee partner.

Products & Services

Instant coffee (spray-dried and freeze-dried), roasted and ground coffee, coffee premixes, specialty coffee, and flavored coffee SKUs.

Brand Portfolio

Continental Coffee (CCL).

New Products/Services

Specialty and flavored SKUs are being launched to premiumize the portfolio and increase margins.

Market Expansion

Targeting expansion in Southeast Asia, Europe, and Latin America, alongside doubling the Indian domestic retail footprint.

Market Share & Ranking

The Indian instant coffee market is valued at INR 3,500 Cr; CCL is a major player leveraging an 11% industry CAGR.

Strategic Alliances

Maintains partnerships with international retail partners for private label manufacturing.

🌍 External Factors

Industry Trends

The Indian coffee market is growing at an 11% CAGR, driven by instant formats. There is a shift toward ethically sourced blends and premiumization, which CCL is positioning for via specialty SKUs.

Competitive Landscape

Competes in the global private label market and domestic branded retail against other packaged beverage players.

Competitive Moat

Moat is built on cost competitiveness, scalable customized manufacturing, and a massive distribution network of 150,000 outlets. This is sustainable due to high market entry barriers created by complex international ESG compliance requirements.

Macro Economic Sensitivity

Sensitive to global macroeconomic shifts and coffee commodity price cycles which impact realization and volume growth.

Consumer Behavior

Increasing demand for 'instant formats' and 'packaged beverages' in both urban and rural India.

Geopolitical Risks

Geopolitical instability is identified as a factor that complicates risk management and could impact international supply chains.

⚖️ Regulatory & Governance

Industry Regulations

Complies with BRC Version 8 (A Grade), IFS Food Version 7 (Higher Level), and Organic Coffee Certification. These are essential for maintaining access to international markets.

Environmental Compliance

Focusing on 40-50% renewable energy adoption. Non-compliance with ESG issues like climate change and biodiversity is noted as a risk that could create market entry barriers.

Legal Contingencies

The company reported zero cases of imprisonment or punishment for regulatory non-compliance in the latest reporting period.

⚠️ Risk Analysis

Key Uncertainties

Coffee bean price volatility and potential supply chain disruptions are the primary uncertainties, with the potential to negatively impact the bottom line if not managed proactively.