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CCL Products (India) Limited (CCL) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹151B (≈ $1.6B) · ISIN INE421D01022

What is CCL Products (India) Limited really worth?

CP CCL Products (India) Limited CCL · BSE
Price₹1,109
Fair Value₹561.50
Upside−49.4%
Quality67/100

A solid business, but trading 97% above our fair value of ₹561.50.

As of Aug 19, 2026, the fair value of CCL Products (India) Limited is ₹561.50 per share against a price of ₹1,109, so the fair value sits 49% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

Strengths

Healthy Growth (revenue 5y +29.1 %/yr)
Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Thin margins · 9.2% net margin
!Moderate moat 58/100
!Weak on future: 27 out of 100
!Weak on balance sheet: 2 out of 100
!Weak on dividend: 13 out of 100
Evidence: High Range ₹400.97 – ₹722.04

Fair value as of: Aug 19, 2026

From 24 valuation models · updated 18 days ago

Share price −2.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹722.04). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹400.97 to ₹722.04) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹1,230 ₹287.08 Fair Value ₹561.50 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹287.08 – ₹1,230 · fair‑value band ₹400.97 – ₹722.04 · the ₹1,109 price screens above the ₹561.50 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

CCL Products (India) Limited (CCL) currently trades at ₹1,109, while our model-based Fair Value estimate is ₹561.50, implying the stock looks roughly 97.5% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of ₹1,197 per share, and 8 of the 24 models we run sit above the ₹1,109 price. Bear case: the Asset-Based group reads lowest at ₹117.93, and 16 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, CCL Products (India) Limited generated revenue of ₹40.8B at a net margin of 9.2%. Revenue grew 38.4% year over year. It earns a return on equity of 17.4%. Net debt stands at ₹10.7B. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹400.97 (bear case) to ₹722.04 (bull case); at ₹1,109, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −26% fair-value upside, at −49%, CCL screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹19.20 per share, which is 3.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹968.67 ₹1,556 ₹3,375 75
EPV ₹313.60 ₹367.88 ₹415.36 74
Growth DCF ₹913.43 ₹1,731 ₹3,360 74
All 24 models by family
DCF Models
FCF DCF ₹968.67 ₹1,556 ₹3,375 75
Owner Earnings ₹542.15 ₹1,249 ₹2,733 70
5Y Revenue Exit ₹523.54 ₹874.99 ₹1,569 70
5Y EBITDA Exit ₹604.31 ₹1,045 ₹1,867 72
5Y P/E Exit ₹587.82 ₹1,161 ₹1,899 68
10Y Revenue Exit ₹635.83 ₹1,197 ₹1,671 66
10Y EBITDA Exit ₹708.39 ₹1,358 ₹2,536 65
10Y P/E Exit ₹696.60 ₹1,325 ₹2,403 61
Earnings-Based
Graham-Dodd ₹198.14 ₹1,382 ₹1,939 63
Lynch FV ₹453.00 ₹647.14 ₹841.29 61
PEG = 1.0 ₹453.00 ₹647.14 ₹841.29 57
EPV ₹313.60 ₹367.88 ₹415.36 74
Multiples
P/E Multiple ₹458.92 ₹611.89 ₹764.86 63
P/S Multiple ₹371.50 ₹495.34 ₹619.17 58
P/B Multiple ₹371.50 ₹495.34 ₹619.17 55
EV/EBIT ₹472.35 ₹633.81 ₹795.27 66
EV/EBITDA ₹469.59 ₹630.13 ₹790.66 67
EV/Revenue ₹333.68 ₹481.85 ₹630.01 53
Asset-Based
NCAV (Graham) ₹88.01 ₹117.93 ₹176.02 54
Growth DCF
Growth DCF ₹913.43 ₹1,731 ₹3,360 74
Rev-Margin DCF ₹523.54 ₹982.52 ₹1,685 70
Economic Profit
Residual Income ₹192.95 ₹255.23 ₹827.32 64
ROIC Compounder ₹401.84 ₹617.15 ₹798.31 71
Growth Earnings
Growth-Adj P/E ₹600.77 ₹858.25 ₹1,116 67

Widest divergence: DCF Models (₹1,197) versus Asset-Based (₹117.93). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 39.4
P/S ratio 3.43 P/E × margin
EPS (TTM) ₹28.15 price ÷ EPS = P/E 39.4
Dividend yield 0.7% payout 27.0%
Net margin 8.7% FY2025
Return on equity 17.4% TTM
More key figures
Profitability
Return on assets (EBIT) 11.3% avg 5y
Operating margin 14.1% TTM
Growth
Revenue (TTM) ₹40.8B TTM
Revenue growth (YoY) +38.4% 3y avg +29.1%
EPS growth (YoY) +59.0%
Balance sheet & cash flow
Free cash flow ₹7.9B FY2025
Net debt ₹10.7B FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 67 · Market factors (momentum, volatility) 64

Profitability 60
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CCL Products (India) Limited manufactures and sells instant coffee and coffee related products in India. The company offers spray dried coffee powder and agglomerated coffee, freeze dried coffee, freeze concentrated liquid coffee, roast and ground coffee, roasted coffee beans, and premix coffee under the Continental brand. It also exports its products.

Full company description

CCL Products (India) Limited manufactures and sells instant coffee and coffee related products in India. The company offers spray dried coffee powder and agglomerated coffee, freeze dried coffee, freeze concentrated liquid coffee, roast and ground coffee, roasted coffee beans, and premix coffee under the Continental brand. It also exports its products. The company was incorporated in 1961 and is based in Hyderabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CCL Products (India) Limited reported revenue of ₹44.6B in FY2025 versus ₹14.6B in FY2021, a compound +32.1%/yr. Reported net income was ₹3.9B in FY2025, compounding +17.4%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
₹44.6B
Latest YoY
+43.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+29.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+29.1%
Avg. revenue growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.3%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+17.0% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+16.3%
Dividend yield0.7%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 16.3% vs 10Y 11.2%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19.6% (2020) → 11.4% (2025) · falling
Revenue +32.1%/yr
FY21 ₹14.6B
FY22 ₹20.7B
FY23 ₹26.5B
FY24 ₹31.1B
FY25 ₹44.6B
Net income +17.4%/yr
FY21 ₹2.0B
FY22 ₹2.7B
FY23 ₹2.5B
FY24 ₹3.1B
FY25 ₹3.9B

CCL screens 97% overvalued. Compare with Nestlé S.A →

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Cite: Fair Value Calculator (2026). "CCL Products (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/CCL.BSE

Peer Group

Packaged Foods · 648 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −49% · Bottom 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 38% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 39.4× · Pricier than 75% of peers
P/B 6.44× · Pricier than 75% of peers
P/S (TTM) 3.70× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 23.4× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE78 · sector 17
FUTURE27 · sector 25
PAST100 · sector 31
HEALTH2 · sector 97
DIVIDEND13 · sector 39

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $24.85 $24.59 −1%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $38.29 $28.32 −26%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%

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Frequently asked questions

Is CCL Products (India) Limited (CCL) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹561.50 versus a price of ₹1,109, about −49% upside (overvalued).
What is the fair value of CCL?
Our model-based fair value for CCL Products (India) Limited is ₹561.50 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹1,109.
What is the quality score of CCL?
CCL Products (India) Limited has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CCL Products (India) Limited (CCL)?
Our model-based price target is the fair value of ₹561.50 (as of Aug 19, 2026) from 24 valuation models. Cautious scenario ₹400.97, optimistic scenario ₹722.04. It is a calculation from audited fundamentals, not an analyst target.
What is the CCL Products (India) Limited stock forecast for 2026?
Our models put fair value at ₹561.50, about −49% upside versus a price of ₹1,109 (overvalued). Cautious scenario ₹400.97, optimistic scenario ₹722.04. The calculation is refreshed regularly with new filings.
What is the revenue of CCL Products (India) Limited (CCL)?
CCL Products (India) Limited reported trailing-twelve-month revenue of about ₹40.8B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of CCL?
The net profit margin of CCL Products (India) Limited is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does CCL Products (India) Limited pay a dividend?
CCL Products (India) Limited currently shows a dividend yield of about 0.69% relative to its recent price (as of Aug 19, 2026).
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