CCL Products (India) Ltd (CCL) — share price & stock analysis

Market cap

₹15,796 Cr

P/E

40.7×

ROE

18.0%

vs own 10-yr valuation

highest ever

Book value / share

₹176

EPS (TTM)

₹29.1

10-yr median P/E

28.8×

Revenue (FY26)

₹4,457 Cr

Profit after tax (FY26)

₹388 Cr

Weinstein stage

Stage 2 (58 weeks)

Data as of

1 July 2026

5 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 16% — decent; debt moderate (0.56× equity); margins near the bottom of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The price has run ahead of the profits

Since Mar 2016, the stock is up 489% while earnings per share grew 217%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/E of 40.7× is about the most expensive this stock has ever traded against its own 10-year history.pe_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (28.8×).

The price is in a confirmed uptrend — 58 weeks and counting

Stock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 58 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹1,014 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 66 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits have grown in 11 of the last 12 years — this is a compounding machine

Over 12 years, sales went from ₹717 Cr to ₹4,457 Cr (about 16% a year), and profit from ₹64.0 Cr to ₹388 Cr.revenuenet_profit

The margin story is less kind: from 25.1% at the FY20 peak down to 16.4% now — near its 12-year low and still soft. The profit growth has come from volume, not richer economics.operating_profit

Sales exploded 46% last quarter — growth every single quarter for over 2 years

Mar 26 sales were ₹1,224 Cr, up 46% on the same quarter last year.revenue

That makes 10 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are compressing — 20% → 16% in a year

Of every ₹100 of sales, the company keeps ₹15.7 as operating profit (a year ago it kept ₹19.5).opm_pct

The gross margin moved the same way (44% → 35%), so this is about input costs and pricing power — the raw-material equation worsened.gpm_pctopm_pct

Profit grew 13% last quarter

Mar 26 profit after tax was ₹115 Cr, up 13% year on year.net_profit

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹1,436 Cr of profit and collected ₹1,492 Cr of operating cash — about 104% conversion.operating_cash_flownet_profit

When cash tracks profit this closely, the earnings need no asterisk.

The cash cycle is tightening — money comes home faster

One rupee now takes about 166 days to go out the door as materials and come back as collected cash — down from 246 days the year before.cash_conversion_cycle

The biggest mover: inventory moving faster off the shelf (208 → 131 days).inventory_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹361 Cr (FY14) to ₹2,027 Cr, with another ₹3.0 Cr of capacity under construction right now.fixed_assetscwip

The build is self-funded: the last 3 years' investing outflow (₹1,012 Cr) fits inside the operating cash the business generated (₹1,203 Cr).investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹56 — total borrowings have grown from ₹292 Cr to ₹1,324 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹16 — decent, not special

Return on capital employed is 16.0% (a year ago: 13.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Rising returns on capital while growing is the rarest combination in investing — it means the new projects earn more than the old ones.roce_pct

Big money is quietly accumulating

Promoters hold 46.1%, essentially unchanged. Foreign funds own 11.2%, domestic funds 21.4%.promoters_pctfiis_pctdiis_pct

Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.

Worth studying deeper — with eyes open

The numbers lean positive, and the price already assumes the good news continues.

Best thing in the data: free cash flow rising (₹−125 Cr → ₹788 Cr).operating_cash_flow

Biggest worry: margins falling (19.5% → 15.7%).operating_profit

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data