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IDBI Capital Report
CCL Product India Ltd.'s Q2 FY21 result was broadly in line with our expectation.
Net sales increased by 7.9% YoY to Rs 3,221 million mainly due increase in volumes.
Importantly, the company's gross margins increased 421 basis points to 50.9% in Q2 FY21 due to better product mix (higher freeze dried sales).
Even Ebitda margin improved 345 basis points YoY to 24.1% and Ebitda increased 25.9% YoY to Rs 775 million.
The company's net profit increased 12.8% YoY to Rs 75 million.
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