CCL Products (India) Limited
NSE: CCLINE421D01022·Fast Moving Consumer GoodsSmallcap 250·www.cclproducts.com ↗·Mcap ₹13,932 Cr·Listed 2004
₹1,044.40▲ ₹4.90  (0.47%)
52W: ₹816 – ₹1,242 · Vol: 2.7L shares · Close 25 Sept
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Annual report FY26 — 17.10 MB · Shareholding pattern — Jun 2026 · All filings
AI equity note (bull/bear, numbers, sources) — coming soon
Management guidance consistency — coming soon

Latest filings

NSE announcements · newest first
Allotment of 2100 Shares.
ESOP25 Sept 2026 PDF
All filings →
P/E (TTM)
32.2×
EPS ₹32.39
P / Book
5.95×
BVPS ₹176
ROE
18.0%
FY26, avg equity
Net margin
8.7%
FY26
Revenue YoY
+13.7%
Q1 FY27
Net profit YoY
+61.3%
Q1 FY27
Debt / equity
0.55×
₹1,291 Cr debt
Div. yield
0.55%
₹5.75 in 12 months
From NSE filings (consolidated) and the last close.
Shareholding Pattern Jun 2026
Promoters
46.1%▲ 0.03
FIIs
12.1%▲ 0.83
DIIs
21.1%▼ 0.32
Retail
9.8%▼ 0.21
Others
10.7%▼ 0.23
Promoter pledge: none reported
Peer Comparison
CompanyP/EP/BROEMargin
TATACONSUM₹97,297 Cr59.2×4.47×7.4%7.6%
CCL₹13,946 Cr32.2×5.95×18.0%8.7%
VINCOFE₹2,683 Cr28.9×4.71×16.6%13.1%
MCLEODRUSS₹450 Cr––-123.8%-10.7%
JAYSREETEA₹258 Cr–0.65×-6.1%-2.7%
GILLANDERS₹232 Cr13.3×0.90×3.8%2.2%
Tea & Coffee: the companies closest in market value, of the 10 in that basic industry whose filings we hold. Computed from each company's NSE filings (up to Q1 FY27) and the last close; hover a column for its definition.
Forensic Flags2 Watch
Free cash flow was negative in 4 of the last 5 years
Operating cash flow less capital expenditure, as filed.
Effective tax rate averaged 13%
Tax over pre-tax profit, last 3 years. The base corporate rate is about 25%.
Debt to equity is 0.55×
As at 2026-03-31; it was 0.62× at 2023-03-31.
Profit before interest and tax covers finance costs 4.6×
FY26.
10 checks within their thresholds
Operating cash flow was 1.06× net profit
Cumulative over FY22–FY26 (5 years).
Receivables grew 18% against revenue growth of 44%
FY26: debtor days moved from 81 to 67.
Inventory grew -1% against revenue growth of 44%
FY26: inventory days moved from 124 to 85.
Other income is 2% of profit before tax
FY26.
Exceptional items above 5% of pre-tax profit in 0 of the last 5 years
FY22–FY26.
Share count changed +0.4% in three years, net of bonuses and splits
From 2023-03-31 to 2026-03-31. Shares issued for mergers, placements, conversions and stock options all count.
Promoter holding is 46.14%, +0.05 points over a year
2026-06-30 against 2025-06-30.
No promoter shares are pledged
Shareholding pattern as at 2026-06-30.
No auditor change or resignation filings in three years
From NSE announcements on record.
Results were filed late in 0 of the last 8 quarters
Slowest filing came 37 days after the period end.
Computed from NSE filings (consolidated). Colours follow fixed thresholds, shown on hover. These are facts about the filings, not advice.
Formula Scores
Piotroski F-score: 8 of 9 · FY to 2026-03-31
one point for each of nine tests on profitability, leverage and liquidity, and operating efficiency, comparing the year with the one before
  • ✓ Return on assets positive: 9.15 — profit after tax over the year's opening total assets, %
  • ✓ Operating cash flow positive: 858.3 — ₹ crore
  • ✓ Cash flow above profit (accruals): 470.2 — operating cash flow less profit after tax, ₹ crore
  • ✓ Return on assets improved: 0.37 — change in ROA, percentage points
  • ✓ Long-term borrowings to assets fell: -4.41 — change in long-term borrowings over total assets, percentage points
  • ✓ Current ratio improved: 0.21 — change in current assets over current liabilities
  • ✓ No new shares issued: 0 — change in share capital, %
  • ✗ Gross margin improved: -4.24 — revenue less material cost over revenue, change in percentage points
  • ✓ Asset turnover improved: 0.173 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹388 Cr (2026-03-31) · profit after tax ₹310 Cr (2025-03-31) · total assets ₹4,326 Cr (2026-03-31) · total assets ₹4,241 Cr (2025-03-31)
The paper's bands: 8–9: the paper's high group; 0–2: the paper's low group
Source: Joseph Piotroski, "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers", Journal of Accounting Research, 2000
Altman Z-score: 6.65 · FY to 2026-03-31
Z = 1.2 × working capital / total assets + 1.4 × retained earnings / total assets + 3.3 × EBIT / total assets + 0.6 × market value of equity / total liabilities + 1.0 × sales / total assets
  • working capital / total assets: 0.167 × 1.2
  • retained earnings / total assets: 0.536 × 1.4 — reserves and surplus as retained earnings
  • EBIT / total assets: 0.136 × 3.3 — profit before tax plus finance cost
  • market value of equity / total liabilities: 7.03 × 0.6 — market capitalisation over total assets less equity
  • sales / total assets: 1.03 × 1
Inputs: total assets ₹4,326 Cr (2026-03-31) · current assets ₹2,209 Cr (2026-03-31) · current liabilities ₹1,486 Cr (2026-03-31) · reserves ₹2,318 Cr (2026-03-31) · total equity ₹2,345 Cr (2026-03-31) · profit before tax ₹461 Cr (2026-03-31) · finance cost ₹129 Cr (2026-03-31) · revenue ₹4,457 Cr (2026-03-31) · market capitalisation (today) ₹13,932 Cr
The paper's bands: above 2.99: the paper's safe zone; 1.81–2.99: the grey zone; below 1.81: the distress zone
the 1968 form, fitted on manufacturers; reserves stand in for retained earnings, and profit before tax plus finance cost for EBIT
Source: Edward Altman, "Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy", Journal of Finance, 1968
Graham number: 339.06 ₹ per share · FY to 2026-03-31
√(22.5 × earnings per share × book value per share): the price at which P/E × P/B = 22.5 (a P/E of 15 at a P/B of 1.5)
  • earnings per share: 29.1
  • book value per share: 175.59 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 29.1 (2026-03-31) · owners' equity ₹2,345 Cr (2026-03-31) · paid-up capital ₹27 Cr (2026-03-31) · face value 2 (2026-03-31)
a number the book uses as a ceiling for a defensive investor's purchase price; it is arithmetic on two reported figures, not a valuation
Source: Benjamin Graham, The Intelligent Investor (1949; the 22.5 in the 1973 edition's criteria for the defensive investor)
Sloan accrual ratio: -10.98 % of assets · FY to 2026-03-31
(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹388 Cr (2026-03-31) · operating cash flow ₹858 Cr (2026-03-31) · total assets ₹4,326 Cr (2026-03-31) · total assets ₹4,241 Cr (2025-03-31)
how much of the year's profit was not cash; the paper sorts companies by this and reports the top decile's later returns
Source: Richard Sloan, "Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?", The Accounting Review, 1996
Each score is its published formula applied to the company's own filings (consolidated); open one for the tests, the inputs and the paper. Arithmetic on the filings, not a view on the stock.