CCL Products Q4 Results Review - Robust Quarter; Strong Expansion Lined Up: IDBI Capital

Capacity expansion to facilitate volume growth.

<div class="paragraphs"><p>Coffee Beans. (Photo by <a href=";utm_medium=referral&amp;utm_content=creditCopyText">Tim Mossholder</a> on <a href=";utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)</p></div>
Coffee Beans. (Photo by Tim Mossholder on Unsplash)

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

IDBI Capital Report

CCL Products India Ltd.'s Q4 FY23 Ebitda was slightly ahead of our estimate. Its Q4 FY23 sales jumped 38% YoY to Rs 5,201 million. Ebitda grew by 34%% YoY to Rs 1,131 million in line with volume growth- indicating that the company was able to maintain absolute margins.

Net profit jumped 62% YoY to Rs 853 million. The volume growth for FY23 exceeded 20% and the company targets 20% volume growth in FY24 on the back of expansions (mainly in Vietnam).

We expect strong growth in its sales/net profit over FY23-25E given strong demand in the overseas markets.

Click on the attachment to read the full report:

IDBI Capital CCL Products Q4FY23 Results Review.pdf
Granules India Q4 Results Review - Finished Dosage, API Propel Earnings For The Quarter: Motilal Oswal


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.