Buy CCL Products India, target price Rs 470: Edelweiss

Edelweiss Securities has buy call on CCL Products India Ltd. with a target price of Rs 470. The current market price of CCL Products India is Rs 437.8.

Time period given by analyst is Intra Day when CCL Products India Ltd. price can reach defined target.

CCL Products India Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 5853.89 Crore) operating in Tea / Coffee sector.


CCL Products India Ltd. key Products/Revenue Segments include Coffee and Other Services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 336.83 Crore, up 3.25 % from last quarter Total Income of Rs 326.23 Crore and up 4.53 % from last year same quarter Total Income of Rs 322.22 Crore. Company reported net profit after tax of Rs 49.34 Crore in latest quarter.

Investment Rationale
Volumes recorded on breakout has been above averages indicating increased participation.

Promoter/FII Holdings
Promoters held 46.19 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.96 per cent, DIIs 16.97 per cent.