Ind-Ra revises outlook of CCL Products India Ltd to Positive

India Ratings and Research (Ind-Ra) revised CCL Products India Limited's (CCL) Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at 'IND AA-' in September 2021.

Analytical Approach: Ind-Ra continues to take a consolidated view of CCL and its wholly-owned subsidiaries Jayanti Pte Ltd (Singapore), Ngon Coffee Company Ltd (Vietnam), Continental Coffee SA (Switzerland), Continental Coffee Private Limited (India; IND A-'/Positive) and CCL Beverages Private Limited (India; under process of merger with the parent) to arrive at the ratings, on account of the strong operational synergies among them, given the similar nature of businesses, and common promoters and senior management.

The Positive Outlook reflects Ind-Ra's expectation of a potential improvement in CCL's scale and product mix in the medium term, backed by steady growth in volume, and share of small packs and domestic business to consumers (B2C) business while maintaining the credit metrics. The affirmation reflects the company's continued healthy financial profile and robust business profile.

Shares of CCL Products (India) Limited was last trading in BSE at Rs. 416.90 as compared to the previous close of Rs. 412.30. The total number of shares traded during the day was 62904 in over 3610 trades.

The stock hit an intraday high of Rs. 426.65 and intraday low of 415.10. The net turnover during the day was Rs. 26438187.00.

Source : Equity Bulls

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CCLProductsIndia INE421D01022 RatingUpdate