IDBI Capital: CCL Products’ Margins Improve On Better Product Mix 
Jars filled with coffee beans sit on display at coffee shop in Phnom Penh, Cambodia (Photographer: Taylor Weidman/Bloomberg)

IDBI Capital: CCL Products’ Margins Improve On Better Product Mix 


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

CCL Product India Ltd.’s Q2 FY21 result was broadly in line with our expectation.

Net sales increased by 7.9% YoY to Rs 3,221 million mainly due increase in volumes.

Importantly, the company’s gross margins increased 421 basis points to 50.9% in Q2 FY21 due to better product mix (higher freeze dried sales).

Even Ebitda margin improved 345 basis points YoY to 24.1% and Ebitda increased 25.9% YoY to Rs 775 million.

The company’s net profit increased 12.8% YoY to Rs 75 million.

Click on the attachment to read the full report:

IDBI Capital CCL Products Q2FY21 Result Update.pdf


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