Manufactures instant coffee — both spray-dried and freeze-dried grades — selling bulk product to global coffee brand owners under long-term contracts while running a smaller branded retail business in India and the UK. FY26 turnover reached ₹4,466 crore, with the bulk/B2B instant coffee business accounting for the large majority of revenue and volume growth of 18-20% for the year. The Indian branded business is built around the Continental brand at ₹440 crore, ranked #3 nationally and #2 on select retail platforms, while UK brand Percol is currently at ₹25-30 crore and is targeted to reach ₹100 crore in 2-3 years. Online and D2C channels now contribute ~20-25% of branded sales, quick commerce is at a ₹100 crore run-rate, and the small-pack mix has risen to ~20% of branded volumes from ~15% earlier. Plant capacity utilisation averaged ~65% in FY26 (~70% in Q4), with freeze-dried utilisation running ahead of that average; management guides to 72-73% utilisation in FY27 and 80-85% in FY28 without major capex. Green coffee is the dominant input at 65.9% of revenue, and the balance sheet was strengthened in FY26 with net debt reduced by over ₹750 crore to ₹1,073 crore, taking Net Debt/EBITDA from 3.1 to 1.45. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Bulk instant coffee (B2B), Domestic branded — Continental, International branded — Percol UK, D2C / online branded. Asset-heavy instant coffee manufacturing with a growing branded retail overlay in India and the UK.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,462 | 2,071 | 2,654 | 3,106 | 4,457 |
| EBITDA (ex other income) | 331 | 400 | 445 | 555 | 733 |
| margin % | 22.6 | 19.3 | 16.8 | 17.9 | 16.4 |
| Owners' profit | 204 | 0 | 250 | 310 | 388 |
| EPS, as reported (₹) | 15.36 | 20.21 | 18.80 | 23.31 | 29.15 |
| ROE % · ROCE % | 16.3 · 19.3 | 18.1 · 19.3 | 14.9 · 15.7 | 15.8 · 17.9 | 16.6 · 20.8 |
| Debt / equity (x) | 0.45 | 0.62 | 0.97 | 0.92 | 0.55 |
| Cash from operations | 101 | 198 | 55 | 290 | 858 |
| Capex | (190) | (332) | (513) | (418) | (70) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 738 | 758 | 836 | 1,056 | 1,127 | 1,051 | 1,224 | 1,200 |
| Profit before tax | 87 | 72 | 106 | 94 | 127 | 116 | 123 | 129 |
| Net profit | 74 | 63 | 102 | 72 | 101 | 100 | 115 | 117 |
| EPS (₹) | 5.55 | 4.73 | 7.65 | 5.45 | 7.57 | 7.53 | 8.60 | 8.77 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSUMER PRODUCT LTD | 98,069 | 60.0 | 4.23 | 33.1 | 6.7 | 7.8 | 11.8 | 14.9 |
| CCL PRODUCTS (I) LTD ◆ | 14,354 | 33.1 | 6.12 | 20.8 | 16.6 | 16.2 | 29.1 | 16.4 |
| VINTAGE COFFEE N BVRGS L | 2,549 | 32.3 | 4.48 | 24.1 | 12.7 | 14.0 | — | 20.6 |
| ANDREW YULE & CO. LTD. | 1,275 | 21.6 | 3.92 | — | (5.9) | (9.5) | (2.2) |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · ESOP allotment of 6,785 shares under CCL ESOS 2022 scheme | capital market events | low | — | — |
| 8 Sept 2026 · CCL Products 65th AGM - All 5 Resolutions Passed, Rs. 3 Dividend Approved | compliance | minimal | — | — |
| 8 Sept 2026 · CCL Products AGM 2026: All 5 resolutions passed, Rs 3 dividend cleared | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Video recording of 65th AGM uploaded on company website | investor communications | low | — | — |
| 8 Sept 2026 · CCL Products 65th AGM held via video conferencing on September 8, 2026 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · CCL Products files 65th AGM notice for Sep 8, 2026; recommends Rs 3 final dividend | board shareholder meetings | medium | — | — |
| 17 Aug 2026 · CCL Products reports FY26 sustainability progress and ESG risks | compliance | low | — | — |
| 17 Aug 2026 · 65th AGM notice and Annual Report FY25-26 filed; final dividend of Rs 3 per share | compliance | minimal | — | — |
| 5 Aug 2026 · CCL Products to attend Nirmal Bang investor conference on 10 Aug 2026 | board shareholder meetings | low | — | — |
| 3 Aug 2026 · ESOP exercise - 4,200 shares allotted under CCL ESOP 2022 | capital market events | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| (44.3) |
| GOODRICKE GROUP LTD. | 474 | 5.6 | 1.56 | — | 8.4 | 5.0 | — | (22.7) |
| THE P K TEA PROD CO LTD | 348 | 64.5 | 1.82 | 29.5 | 2.8 | 3.2 | — | 50.0 |
| JAYSHREE TEA & INDUSTRIES | 268 | — | 0.68 | 21.4 | (6.3) | (5.1) | 3.0 | 4.9 |
| UNITED NILGIRI TEA LTD | 216 | 10.7 | 0.90 | — | 9.1 | 10.4 | — | 43.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 33.1 | 7.8 | 20 of 24 | 17% |
| P/B | 6.1 | 0.7 | 26 of 27 | 4% |
| ROCE | 16.2 | 3.0 | 2 of 26 | 96% |
| ROE | 16.6 | 2.3 | 2 of 27 | 96% |
| Debt / Equity | 0.6 | 0.2 | 21 of 27 | 23% |
| EBITDA margin | 16.4 | 11.9 | 11 of 26 | 60% |
| Revenue growth | 13.7 | 1.6 | 8 of 25 | 71% |
| Profit growth | 61.3 | 18.5 | 7 of 27 | 77% |
| Market cap | 14354 | 115 | 2 of 27 | 96% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
