BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Research Report
CCL Products India Ltd.'s Q2 FY22 net revenue grew 4.5% (17% estimated) as Covid-19 led restrictions/lockdowns impacted dispatches from Vietnam.
Gross margin expanded 300 basis points to 52.7% on a better product mix and price realisation.
Ebitda margin expanded 38 bps to 24.4%, offset by higher freight and employee costs.
CCL Products revised its volume growth guidance to 15-20% (10-15% earlier) in instant coffee for FY22E.
The India branded business grew ~40% YoY to Rs 850 million in H1 FY22 aided by strong growth in the retail business; aims a topline of Rs 2 billion in FY22E.
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