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CCL Products (India) Limited

CCL.BO
70
Packaged Foods · Consumer Defensive
Price
₹1080.05
-14.80 (-1.35%)
Market Cap
₹144.63B
Exchange
Bombay Stock Exchange
Winston Score
70
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 11, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Exceptional
Cash Flow
Exceptional
Stability
Mixed
Valuation
Good
Dividends
Good

§Winston Score History

The full picture

CCL Products (India) Limited operates in the coffee sector, specializing in the production, distribution, and sale of instant coffee and an array of associated coffee items. The company's diverse portfolio features spray-dried and agglomerated coffee, freeze-dried and freeze-concentrated liquid coffee, as well as roast and ground coffee, whole roasted beans, and convenient premixed coffee. These products are presented in a variety of packaging formats, from consumer-sized jars, cans, pouches, and sachets to bulk options like big bags, boxes, and drums. Marketed under brand names such as Continental, Xtra, Speciale, Freeze Dried, Malgudi, and THIS, CCL Products serves the Indian domestic market and also engages in international exports. The company was established in 1961 and maintains its headquarters in Hyderabad, India.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+61.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

₹0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

CCL Products (India) Limited is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.3% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 133.0M (2022) → 133.4M (2026)

Score breakdown

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Quality

Profit per sale
Gross Margin
27.6%
Modest — 27.6% gross margin
Profit after running costs
Operating Margin
12.9%
Healthy — 12.9% operating margin
Return on the money invested
ROCE
26.0%
Exceptional — 26.0% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+35.8%
Fast-growing sales (+35.8% YoY)
Profit growth
EPS YoY
+39.0%
Earnings growing fast (+39.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
139%
Turns 139% of profit into real cash
Spare cash per sale
FCF Margin
13.0%
Converts sales into free cash efficiently (13.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
4.93x
Adequate interest coverage (4.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
33.2x
Pricey — P/E 33.2

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+10.5
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (33.2 → 22.8)

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Dividends

Dividend
Dividend Yield
0.56%
Small dividend — 0.56% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+27.5%
Dividend growing fast (27.5% YoY)

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