CCL Products - Vietnam To Drive Growth In The Medium Term: Nirmal Bang
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Nirmal Bang Report
While CCL Products India Ltd.’s India operations have been facing some near-term challenges like container unavailability and softness in Russian orders, Vietnam has been the driving force for the company.
Vietnam capacity utilisation was more than 90% in nine-months FY21 and we expect this growth momentum to continue on the back of strong order flows.
Also, food-grade container challenges are limited for exports from Vietnam to USA.
While challenges in its India operations are likely to continue in the coming quarters, we believe that demand for small packs would offset the impact on bulk packs.
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