FY14 will be best year for us: CCL Products
Brazil accounts for a third of the world’s coffee and the reduction in supply has driven Standard & Poor’s GSCI Agriculture Index for its longest rally since 2011.
A day after coffee futures posted the biggest two-day gain in over a decade, C Rajendra Prasad, chairman and managing director, CCL Products , that produces numerous variants of coffee, says the company is on its way to see the best financial year ever.
Speaking to CNBC-TV18’s Sonia Shenoy and Reema Tendulkar, Rajendra says that the company’s topline is expected to be around Rs 700 crore with a profit of Rs 70 crore.
Also read: Expect CCL Products to perform well in future: Nirmal Bang
What is driving coffee prices higher, Rajendra says, is the dry Brazil weather. “Arabica coffee prices are going up due to delayed monsoon. It is up by 20-25 percent in two-three months,” he adds.
Brazil accounts for a third of the world’s coffee and the reduction in supply has driven Standard & Poor’s GSCI Agriculture Index for its longest rally since 2011.
CCL Products stock price
On February 20, 2014, at 14:04 hrs CCL Products India was quoting at Rs 43.40, up Rs 1.30, or 3.09 percent. The 52-week high of the share was Rs 49.70 and the 52-week low was Rs 21.57.
The company's trailing 12-month (TTM) EPS was at Rs 5.21 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.33. The latest book value of the company is Rs 22.54 per share. At current value, the price-to-book value of the company is 1.93.
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