CCL Products (India) (CCL) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue reached INR 773 crore (₹77,329.36 lakh), up 18% year-over-year; net profit at INR 71.4 crore (₹7,147.02 lakh), also up 18% year-over-year.

• Standalone revenue for Q1 FY25 was ₹43,159.80 lakh, with standalone net profit at ₹2,514.20 lakh.

• EBITDA grew 23% year-over-year to INR 131.6 crore; PBT up 25.5% to INR 187.18 crore.

• Volume growth for the quarter was 15%-16%, in line with guidance despite high coffee prices.

• Domestic business gross turnover was INR 90.5 crore, with branded sales at INR 65 crore.

Financial highlights

• Revenue grew 18% year-over-year to INR 773 crore; net profit increased 18% to INR 71.4 crore.

• Standalone EPS for Q1 FY25 was ₹1.89; consolidated basic EPS was ₹5.37.

• Gross debt as of June stood at INR 1,885 crore, with INR 1,200 crore as working capital debt and INR 675 crore as term loan.

• EBITDA margin improved due to higher-value contracts and more small pack sales.

• Depreciation dropped due to a one-time policy change in the previous quarter.

Outlook and guidance

• Volume growth guidance maintained at 10%-20% for FY25 due to ongoing market volatility.

• EBITDA growth expected to track volume growth; margin improvement to be gradual over 1.5-2 years.

• India retail business targeted to reach INR 300 crore, with total India business expected to cross INR 400 crore.

• Debt projected to rise to INR 2,200 crore by year-end if coffee prices remain high.

• Tax rate guidance for the year is 13%-14% consolidated.