ATS Company Reports: Ccl products india ltd. Access Company Reports here: http://www.adityatrading.in/Research-Reports.aspx

2. Company Details
CCL Products (India) Limited, a global coffee manufacturer, was founded in 1994 with a simple vision – to
make the finest quality coffee for people across the world. We do it by seamlessly integrating the latest
innovation and technology with keen domain knowledge and expertise and are now the preferred choice
among stakeholders and clients in over 80 countries.
Today, this vision has steadily steered us into an Export Oriented Unit (EOU) with the right to import green
coffee from any part of the world and export processed coffee across the globe, devoid of any duties.
Our first manufacturing plant at Andhra Pradesh now produces all varieties of soluble coffee products and the
company have grown in two decades to have two more operational plants in Switzerland and Vietnam with a
current combined annual capacity of over 35,000 MT per year.
CCL owe our rapid growth to our singular dedication to quality and investment in top of the line technology and
infrastructure. The standard sampling and testing procedures notwithstanding, our quality control laboratories
ensure that our clients and customers receive nothing but the finest. CCL employ Soluble Coffee technology
adapted from various parts of the world, at our manufacturing plants, which enables us to integrate pioneering
technology from several world-renowned experts.
From the handpicked individual coffee bean to the process of manufacturing- they are constantly innovating.
After all, regularly outdoing the latest industry standards has marked every step of companies journey.
The current market capitalization stands at Rs 2,159.71 crore. The company has reported a consolidated
sales of Rs 241.30 crore and a Net Profit of Rs 26.11 crore for the quarter ended Dec 2014.

3. Category No. of Shares Percentage
Promoters 54,238,353 40.77
General Public 30,561,857 22.97
NBFC and Mutual Funds 13,330,515 10.02
Foreign - NRI 10,324,027 7.76
Foreign Institutions 7,593,124 5.71
Other Companies 5,804,434 4.36
Foreign Promoters 5,010,890 3.77
Foreign - Collaborators 4,824,148 3.63
Others 1,017,833 0.77
Financial Institutions 185,771 0.14
Foreign - Others 136,968 0.10
Market Cap (Rs Cr) – 2159.71
Company P/E – 28.94
Industry P/E – 21.41
Book Value (Rs) – 26.65
Dividend (%) – 60%
EPS (TTM) – 5.61
Dividend Yield (%) – 0.74%
Face Value (Rs) - 2
Share Holding Pattern Financial Details

4. Financial Details
The coffee industry of India is the sixth largest producer of coffee in the world, accounting for over four percent
of world coffee production, with the bulk of all production taking place in its Southern states. India’s coffee
industry is predicted to experience a period of growth. The country’s coffee exports are estimated to rise to
approximately 5.02 million bags for the current marketing year; a comparative increase of 400,000 bags over
the previous year. Moreover, the price of Robusta – one of its most important varieties of coffee – is expected
to rise by 94 percent over last year and sell for US 196 cents per Ib.
Robusta and Arabica are by far the most commonly produced varieties of coffee in India, with the former
making up 60 percent of the country’s total production output and the latter 40 percent.
Production of coffee has been growing at an exponential rate in India, with export volumes averaging between
200,000 and 340,000 tonnes. As of the 2009-2010 fiscal year, over five million Indians derived their income
from the industry, and from October 2013 to September 2014 India exported US $776.69 million worth of
coffee.
Coffee is primarily an export-driven commodity in India, with around 70 percent of what it produces exported to
various parts of the world. The country is currently the world’s sixth biggest exporter of coffee after Brazil,
Vietnam, Colombia, Indonesia and Ethiopia. Italy, Russia and Germany make up the bulk of India’s export
markets, with mostly European countries accounting for the remainder.
100% FDI is currently allowed in India’s coffee industry through the automatic route. Combined with India’s
low-labor costs, the constant expansion of the industry’s production base, and the rising market value of what
it produces, the country’s export sector is undoubtedly an attractive one for foreign investment.

5. Balance Sheet
Mar '14 Mar '13 Mar '12 Mar '11 Mar '10
Sources Of Funds
Total Share Capital 26.61 13.30 13.30 13.30 13.30
Equity Share Capital 26.61 13.30 13.30 13.30 13.30
Reserves 327.87 286.59 239.73 210.93 187.03
Networth 354.48 299.89 253.03 224.23 200.33
Secured Loans 109.95 138.55 130.63 153.71 150.07
Unsecured Loans 0.00 0.00 0.00 2.13 6.01
Total Debt 109.95 138.55 130.63 155.84 156.08
Total Liabilities 464.43 438.44 383.66 380.07 356.41
Application Of Funds
Gross Block 297.17 290.35 311.40 310.13 278.45
Less: Accum. Depreciation 122.40 109.58 97.44 82.13 67.30
Net Block 174.77 180.77 213.96 228.00 211.15
Capital Work in Progress 0.21 0.00 0.23 0.00 30.68
Investments 138.62 80.04 37.55 37.55 18.04
Inventories 113.85 125.61 107.36 72.56 64.00
Sundry Debtors 74.48 71.76 66.22 51.20 42.03
Cash and Bank Balance 4.98 2.40 4.36 1.39 1.48
Total Current Assets 193.31 199.77 177.94 125.15 107.51
Loans and Advances 38.64 54.35 25.48 39.45 34.38
Fixed Deposits 0.00 0.00 0.00 3.15 1.09
Total CA, Loans & Advances 231.95 254.12 203.42 167.75 142.98
Current Liabilities 59.68 68.58 63.53 36.00 35.29
Provisions 21.46 7.89 7.96 17.22 11.15
Total CL & Provisions 81.14 76.47 71.49 53.22 46.44
Net Current Assets 150.81 177.65 131.93 114.53 96.54
Total Assets 464.41 438.46 383.67 380.08 356.41
Contingent Liabilities 194.81 189.02 190.74 29.74 0.32
Book Value (Rs) 26.65 225.44 190.21 168.56 150.60

6. Profit and Loss Account
Mar '14 Mar '13 Mar '12 Mar '11 Mar '10
Income
Sales Turnover 611.10 584.83 489.36 355.50 282.01
Excise Duty 0.00 0.00 0.00 1.54 0.63
Net Sales 611.10 584.83 489.36 353.96 281.38
Other Income 0.91 1.42 1.32 3.28 5.15
Stock Adjustments 2.07 0.38 -5.03 9.49 -10.36
Total Income 614.08 586.63 485.65 366.73 276.17
Expenditure
Raw Materials 395.19 388.85 328.67 246.36 174.73
Power & Fuel Cost 33.73 37.15 25.18 23.16 16.37
Employee Cost 21.87 17.47 13.10 10.28 7.39
Other Manufacturing Expenses 0.00 0.00 0.00 4.33 3.45
Selling and Admin Expenses 0.00 0.00 0.00 13.37 10.24
Miscellaneous Expenses 34.84 34.48 36.95 1.50 0.93
Total Expenses 485.63 477.95 403.90 299.00 213.11
Operating Profit 127.54 107.26 80.43 64.45 57.91
PBDIT 128.45 108.68 81.75 67.73 63.06
Interest 7.28 11.96 11.56 12.42 13.94
PBDT 121.17 96.72 70.19 55.31 49.12
Depreciation 12.97 15.88 15.85 15.05 14.19
Profit Before Tax 108.20 80.84 54.34 40.26 34.93
Extra-ordinary items 0.00 0.00 0.00 -0.53 1.05
PBT (Post Extra-ord Items) 108.20 80.84 54.34 39.73 35.98
Tax 34.95 26.25 17.81 12.76 8.97
Reported Net Profit 73.26 54.59 36.53 27.52 27.00
Total Value Addition 90.44 89.11 75.23 52.63 38.38
Equity Dividend 15.96 6.65 6.65 2.66 2.00
Corporate Dividend Tax 2.71 1.08 1.08 0.43 0.33
Per share data (annualised)
Shares in issue (lakhs) 1,330.28 133.03 133.03 133.03 133.03
Earning Per Share (Rs) 5.51 41.04 27.46 20.69 20.30
Equity Dividend (%) 60.00 50.00 50.00 20.00 15.00

7. Dividend and Bonus History

8. Index and Company Price Movement Comparison

9. Company Forecast

10. Symbol Value Action
RSI(14) 70.990 Buy
STOCH(9,6) 75.392 Buy
STOCHRSI(14) 2.130 Oversold
MACD(12,26) 87.390 Buy
ADX(14) 74.335 Overbought
Williams %R -29.050 Buy
CCI(14) 76.8979 Buy
ATR(14) 62.9643 High Volatility
Highs/Lows(14) 35.9571 Buy
Ultimate Oscillator 47.919 Sell
ROC 95.157 Buy
Bull/Bear Power(13) 120.8480 Buy
Technical Indicators

11. PBIT – 18.72 v/s 15.58
RoCE – 24.86 v/s 21.16
RoE – 22.39 v/s 19.35
Net Profit Margin – 11.97 v/s 9.31
Return on net worth – 20.66 v/s 18.20
D/E Ratio – 0.31 v/s 0.46
Interest Cover – 15.86 v/s 7.76
Current Ratio – 0.79 v/s 0.79
Reserves – 327.87 cr v/s 286.59 cr
PAT – 73.26 cr v/s 54.59 cr
Total assets – 464.41 cr v/s 438.46 cr
Net sales – 611.10 cr v/s 584.83 cr
Book Value – 26.65 v/s 225.44
Days BSE NSE
30 176.16 176.33
50 171.74 171.92
150 130.74 130.88
200 113.66 113.78
Important Ratios Simple moving average

12. Recommendations
Buy CCL Products India Ltd. at current or
lower market levels
Reasons for the recommendations are :
Sound financial position and healthy ratios of the company.
Availability of adequate manufacturing facility to meet demands.
Plants in Vietnam and Switzerland will help to tap European and Far East Asian market and
considerable reduction in transporting expenditure.
Very less marketing expenditure when compared with its peers.
Increase in demand for coffee in emerging markets.
Companies aggressive plan to tap Coffee market in African countries.