Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹1,053 Cr
verified against source
Revenue YoY
38%
reported change
EBITDA
₹187.56 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
CCL Products delivered a strong Q3 FY26 with consolidated revenue of ₹1,053 crore (+38% YoY) and PAT of ₹100.26 crore (+59% YoY), driven by ~20% volume growth and stable pricing. EBITDA margin expanded ~110 bps to 17.8% as cost pass-through and operational efficiencies kicked in. Domestic branded sales reached ₹180 crore for the quarter, growing 40-50% YoY, with distribution now at 1.4 lakh outlets. Management reiterated confidence in sustaining 18-20% volume growth for FY26, with EBITDA per kg improving to ₹135-140. Debt reduced to ₹1,448 crore (net ₹1,248 crore), ahead of the ₹1,250 crore March target. Key risk: green coffee price volatility post-Tet holidays could disrupt customer ordering patterns and working capital assumptions.
Colored figures show movement against the previous available record.
Guidance to track
- Management revised the earlier 15-20% EBITDA growth guidance to approximately 25% for FY26, driven by strong volume growth and margin expansion.
- Management expects to maintain 18-20% volume growth for the full year, with Q4 likely similar to the 9-month run rate.
- Branded sales are expected to close at ₹430-440 crore for FY26, with 9M already at ₹330 crore.
- Management reiterated the debt guidance of ₹1,250 crore by end of FY26, already achieved ahead of schedule.
Risks flagged
- If farmers hold stocks after Tet, prices could spike again, disrupting customer ordering patterns and working capital.
- Q4 FY25 was a high base quarter; volume growth may moderate, though management expects similar trajectory.
- The plant-based meat category underperformed and was shut down; re-entry into protein category is uncertain.
- Rupee depreciation could create minor exchange losses, though naturally hedged via imports.
Key quotes
- We don't speculate on coffee prices. It's a costless model very sound in terms of how we build prices. So even if the coffee prices come down our per kilo EBITDA will remain intact.
- Just have patience. That's all I can say. Everything will go as we had planned.
- We are now distributed directly in 1 lakh 40,000 outlets. We are also expanding our networks beyond south which is northeast and west markets.
Research modules