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Nirmal Bang Report
CCL Products India Ltd.’s coffee dispatches from Vietnam are getting affected because of the Covid-19 related restrictions.
Ho Chi Minh City, which has more than 50% of the total Covid-19 cases in Vietnam, is the major transport hub.
While the logistics situation is deteriorating in Vietnam, production and supplies have not been affected for CCL Products.
Considering these near-term issues, the management expects 85-90% utilisation in Vietnam in FY22 (which translates into a marginal decline).
India’s exports data is showing positive signs so far despite some delays in dispatches recently.
We highlight that these are not company-specific challenges and underlying demand continues to remain strong.
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