HTML Preview Company Research page number 1.
Company Research Report
CCL Products India Ltd.
Page | 1
Stock Data
* (12/November/2013-12/November/2014)
Shareholding Pattern
Promoter Shareholding
44.54%
Public Shareholding
55.46%
FII
1.41%
DII
9.95%
Others
44.10%
Ketan Chaphalkar
Research Analyst
+91-9850821180
About the Company
CCL Products India Ltd. is India’s largest manufacturer and exporter of instant
coffee. The company was formed in the year 1994 and started commercial
operations in 1995. The company specializes in import of green coffee into
India and exports instant coffee all over the world with manufacturing plants
in India, Switzerland and Vietnam.
Valuation
The company had a debt of Rs.1349 million the end of FY 2013-14 and
has a current market capitalization of Rs.18,072 million with a Price to
Earnings multiple of 28 at Rs.135 per share.
The Price to Book Value is 5 and the Market Capitalization to Sales
ratio is 2.5.
Earnings Forecast
The company is expected to post a CAGR of 20% in revenues from
Rs.7168 million in FY 2013-14 to Rs.17,836 million in FY 2018-19.
Earnings per share is forecast to grow at 29.43% CAGR over the next 5
years.
The stock at Rs.135 is trading at 7.74x FY 2018-19 earnings and 4.44x
FY 2018-19 EV/EBITDA multiple and given the growth expected in the
five year time period it will get rerated to higher levels going forward.
The Company
CCL Products India Ltd. manufactures soluble instant coffee more commonly
referred to as instant coffee or coffee powder. It is commercially prepared in
solid form either by freeze drying or spray drying.
Industry
Information
Technology
Market Cap
(Rs.Mn)
18,072
CMP
Rs.135
1-Year Stock
Return*
418%
1-Year BSE-
Sensex*
38.3%
EPS(Annualised)
(FY15E)
Rs.6.47
P/E (FY15E)
21