Target Price: ₹1,101
Current Market Price (CMP): ₹1,025.80
CCL Products (India) stands as the largest private label coffee processing company globally, specializing in the production, trading, and distribution of coffee products. The company operates not only in India but also maintains facilities in Vietnam and Switzerland. Vietnam holds the distinction of being the second-largest manufacturer of green coffee following Brazil, and CCL exports its products to over 90 countries worldwide.
The company boasts a diverse portfolio with more than 200 coffee blends. Its operational efficiency is bolstered by strategic positioning and economies of scale. Vietnam, recognized as one of the major producers of Robusta coffee, ensures a reliable supply of raw materials for CCL’s operations. Additionally, CCL’s manufacturing unit enjoys a lifetime zero-tax status. Located in Vietnam’s Daklak province—known as the “Robusta Capital of the World”—the company benefits from constant availability of coffee, reduced inventory needs, and diminished logistics costs. Moreover, Vietnam serves as a strategic gateway to significant markets such as China, Japan, and Korea.
CCL has significantly expanded its production capabilities, increasing capacity from 38,500 metric tonnes (mt) in FY22 to approximately 77,000 mt by September 2025. No major capital expenditures are anticipated for FY26 and FY27. Currently, CCL’s existing facilities operate at nearly full capacity, while the newly added facilities are functioning at only 15-20% of their potential. For the second quarter of FY26, blended utilization stood at 65-70%. The company expects a gradual ramp-up for the new capacities, projecting an increase of about 30% in utilization each year over the next three to four years.
In Q2 FY26, CCL posted robust financial results, reporting revenues of ₹1,127 crore, with revenue, EBITDA, and PAT growth of approximately 53%, 44%, and 36%, respectively, leading to EBITDA of ₹197 crore and PAT of ₹101 crore.
Published on December 12, 2025
