CCL Products (India) (CCL) Q3 24/25 earnings summary

Executive summary

• Achieved Q3 FY25 turnover of ₹758.4 crores, up 14.13% year-over-year, with EBITDA at ₹127.22 crores, up 13.53%, and profit before tax at ₹71.87 crores, up 7.77%.

• Net profit after tax for Q3 was flat at ₹63 crores due to higher tax incidence; YTD net profit rose 12.77% to ₹208.47 crores.

• Reported unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, with limited review reports issued by statutory auditors and no material misstatements identified.

• Domestic business YTD turnover reached ₹330 crores, with branded segment contributing ₹220 crores.

Financial highlights

• Nine-month YTD turnover grew 17.8% to ₹2,269.9 crores; EBITDA up 20.37% to ₹396.46 crores; profit before tax up 19.7% to ₹246.37 crores.

• Consolidated revenue from operations for Q3 FY25 was Rs. 75,841.10 lakhs, up from Rs. 66,448.21 lakhs in Q3 FY24; nine-month revenue was Rs. 2,26,990.23 lakhs, up from Rs. 1,92,698.37 lakhs year-over-year.

• Q3 volume growth was 3-4% YoY; YTD volume growth close to 10%.

• EBITDA growth outpaced volume growth due to focus on higher-margin contracts.

• Basic and diluted consolidated EPS for Q3 FY25 stood at Rs. 4.73, compared to Rs. 4.76 in Q3 FY24; nine-month EPS was Rs. 15.65, up from Rs. 13.90 year-over-year.

Outlook and guidance

• Targeting aggressive market share gains in both B2B and B2C segments over the next 4-5 years, leveraging low current market shares.

• Guidance for 10-20% volume growth, with long-term aim of 15% annual growth; EBITDA growth expected to remain in the 15-20% range.

• No major capex planned for the next three years; focus will shift to debt repayment.

• Board and management reviewed and approved results, with continued focus on operational performance and compliance; no adverse auditor remarks or material misstatements noted.