CCL PRODUCTS (INDIA) LIMITED EQUITY RESEARCH REPORT

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Recommendation: BUY
Target Price: ₹1,050 (12-month horizon)
Stop Loss: ₹850

Rationale
CCL Products represents a compelling investment opportunity in India's food processing sector. The company's strong financial performance, market leadership position, and strategic expansion plans provide solid fundamentals for continued growth. Strong Q4 FY25 results with 50.38% PBT growth and 15.02% revenue growth demonstrate operational excellence and market demand strength.
Catalyst Timeline

Near-term (3-6 months): Q1 FY26 results and capacity utilization updates
Medium-term (6-12 months): Specialty coffee segment scaling and Vietnam facility ramp-up
Long-term (12-24 months): Achievement of 100,000 MT capacity target

Risk-Reward Assessment

Upside Potential: 14.1% to target price
Risk Level: Moderate to High (commodity exposure)
Investment Horizon: Medium to long-term (12-18 months)

Penafian

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