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Nirmal Bang Report
We recently interacted with the management of CCL Products India Ltd. in order to understand the impact of the ongoing Russia-Ukraine situation on the company's volume and overall earnings. The management indicated that overall impact on volume would be limited as supplies have resumed already.
While there could be volume deferment as all shipping lines are not accepting shipments to Russia, the management expects no permanent revenue loss. Apart from the current Russia-Ukraine issue, Covid-19 cases in Vietnam are rising again and the management sounded cautiously optimistic.
As of now, there is no material impact on volume offtake as well as production in Vietnam. The management is not delaying its expansion plans.
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