WEBSITE BSE:531900 NSE: CCL INTER Inc. Year: 1991 Industry: Engineering - Construction My Bucket: Add Stock
Last updated: 10:32
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1. Business Overview
CCL International Ltd., operating in the Engineering - Construction sector in India, is likely involved in various infrastructure development and construction projects. Its core business model typically revolves around securing contracts for designing, procuring, constructing, and managing projects for government, public sector undertakings, and private clients. This could include civil construction, industrial projects, commercial buildings, roads, bridges, and other infrastructure. The company primarily generates revenue through project-based fees, milestone payments, and contract completion payments.
2. Key Segments / Revenue Mix
Specific segment breakdowns and revenue contributions are not available from the provided information. However, typical companies in this sector might segment their operations by type of project (e.g., buildings, transportation infrastructure, industrial infrastructure) or by geographical region.
3. Industry & Positioning
The Engineering - Construction industry in India is characterized by its high competition, fragmentation, and cyclical nature, largely driven by government capital expenditure, private sector investment, and overall economic growth. Companies range from large diversified players to specialized niche firms. Without specific details on CCL International Ltd.'s project scale or specialization, its positioning would generally depend on its execution track record, technical capabilities, ability to secure new orders, and geographic focus within the competitive Indian market.
4. Competitive Advantage (Moat)
For a company in the Engineering - Construction sector, potential competitive advantages, though often challenging to sustain, can include:
Specialized Expertise: Niche capabilities in complex engineering or construction methodologies.
Execution Track Record: A history of timely and quality project delivery building client trust.
Strong Client Relationships: Long-standing partnerships with key government bodies or large corporate clients.
Scale & Resources: Ability to bid for and execute large-scale, capital-intensive projects.
Cost Efficiency: Superior project management and procurement leading to competitive pricing.
The extent to which CCL International possesses these advantages is not ascertainable from the given data.
5. Growth Drivers
Key factors that can drive growth for CCL International Ltd. over the next 3-5 years include:
Government Infrastructure Spending: India's sustained focus on infrastructure development (e.g., roads, railways, ports, urban infrastructure, smart cities, Gati Shakti master plan).
Urbanization & Industrialization: Growing demand for commercial, residential, and industrial construction as cities expand and manufacturing capacity increases.
Private Sector Capital Expenditure: Revival in corporate investment cycles leading to new industrial and commercial projects.
Renewable Energy Projects: Growth in construction related to solar, wind, and other renewable energy infrastructure.
6. Risks
Project Execution Risks: Delays, cost overruns, and quality issues can impact profitability and reputation.
Intense Competition: Highly competitive bidding environment can squeeze margins.
Regulatory & Policy Changes: Changes in environmental regulations, land acquisition policies, or government spending priorities.
Raw Material Price Volatility: Fluctuations in prices of commodities like steel, cement, and fuel can impact project costs.
Working Capital Management: Large-scale projects require significant working capital, and delays in receivables can strain liquidity.
Economic Slowdown: A downturn can lead to reduced government spending and private sector investment, impacting new project awards.
7. Management & Ownership
In most Indian companies, particularly those of CCL's size, the promoter group typically holds a significant ownership stake and plays a crucial role in strategic direction and management. Management quality, characterized by project execution capabilities, financial discipline, and ethical governance, is vital for success in the construction sector. Ownership structure generally involves the promoter group, institutional investors, and public shareholders. Specific details on the quality of CCL's management or the exact ownership breakdown are not provided.
8. Outlook
The outlook for CCL International Ltd. is influenced by the broader Indian infrastructure growth narrative. The bull case rests on the robust pipeline of government-led infrastructure projects, a potential revival in private sector capex, and the company's ability to consistently secure and execute profitable contracts. Strong order book accretion, efficient project delivery, and prudent financial management would be key positives. Conversely, the bear case involves risks such as an intensely competitive environment leading to margin pressures, potential project execution delays or cost overruns, dependence on government spending which can be unpredictable, and the overall cyclicality of the construction industry. Macroeconomic headwinds or shifts in policy could also dampen growth prospects. The company's performance will largely hinge on its operational efficiency and strategic positioning within this dynamic sector.
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Market Cap ₹46 Cr.
Stock P/E 64.1
P/B 1
Current Price ₹23.9
Book Value ₹ 24.4
Face Value 10
52W High ₹35.8
Dividend Yield 0%
52W Low ₹ 20
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 3 | 10 | 16 | 7 | 0 | 3 | 36 | 9 | 5 | 3 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Income | 4 | 11 | 16 | 7 | 1 | 3 | 36 | 9 | 5 | 4 |
| Total Expenditure | 3 | 9 | 14 | 6 | 1 | 3 | 31 | 8 | 5 | 3 |
| Operating Profit | 1 | 2 | 2 | 1 | -0 | -0 | 5 | 2 | 0 | 0 |
| Interest | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | -1 | -1 | 3 | 1 | -1 | -1 |
| Provision for Tax | 0 | -0 | -0 | 0 | -0 | -0 | 0 | -0 | -0 | -0 |
| Profit After Tax | 0 | 0 | 1 | 0 | -1 | -1 | 3 | 1 | -1 | -1 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 1 | 0 | -1 | -1 | 3 | 1 | -1 | -1 |
| Adjusted Earnings Per Share | 0 | 0.2 | 0.5 | 0.1 | -0.6 | -0.7 | 1.6 | 0.3 | -0.3 | -0.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 94 | 79 | 65 | 33 | 37 | 25 | 30 | 27 | 16 | 36 | 46 | 53 |
| Other Income | 1 | 0 | 6 | 1 | 1 | 4 | 0 | 1 | 1 | 1 | 1 | 1 |
| Total Income | 95 | 79 | 71 | 34 | 38 | 29 | 30 | 28 | 17 | 37 | 46 | 54 |
| Total Expenditure | 91 | 75 | 65 | 30 | 32 | 23 | 26 | 24 | 16 | 31 | 41 | 47 |
| Operating Profit | 4 | 4 | 6 | 4 | 6 | 7 | 4 | 4 | 1 | 6 | 5 | 7 |
| Interest | 1 | 2 | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 2 | 3 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 1 | 3 | 0 | 2 | 2 | 1 | 1 | -2 | 1 | 1 | 2 |
| Provision for Tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -1 | -0 | 0 | 0 |
| Profit After Tax | 1 | 1 | 3 | 0 | 2 | 2 | 0 | 1 | -1 | 1 | 1 | 2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 1 | 3 | 0 | 2 | 2 | 0 | 1 | -1 | 1 | 1 | 2 |
| Adjusted Earnings Per Share | 0.5 | 0.4 | 1.6 | 0 | 1 | 1.1 | 0.2 | 0.3 | -0.7 | 0.8 | 0.4 | 1.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 28% | 19% | 13% | -7% |
| Operating Profit CAGR | -17% | 8% | -7% | 2% |
| PAT CAGR | 0% | 0% | -13% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -20% | -5% | 7% | -9% |
| ROE Average | 2% | 1% | 1% | 2% |
| ROCE Average | 3% | 2% | 2% | 4% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 37 | 38 | 41 | 41 | 43 | 45 | 46 | 46 | 45 | 47 | 47 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 3 | 3 | 1 | 4 | 4 | 2 | 2 | 1 | 3 | 3 | 1 |
| Other Non-Current Liabilities | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | -0 | -0 |
| Total Current Liabilities | 22 | 22 | 29 | 19 | 21 | 23 | 13 | 18 | 14 | 25 | 27 |
| Total Liabilities | 63 | 63 | 71 | 65 | 69 | 71 | 62 | 66 | 62 | 74 | 75 |
| Fixed Assets | 21 | 21 | 23 | 23 | 24 | 23 | 21 | 19 | 17 | 18 | 17 |
| Other Non-Current Assets | 10 | 8 | 4 | 3 | 4 | 1 | 1 | 2 | 2 | 1 | 1 |
| Total Current Assets | 31 | 35 | 44 | 39 | 41 | 46 | 39 | 46 | 43 | 54 | 57 |
| Total Assets | 63 | 63 | 71 | 65 | 69 | 71 | 62 | 66 | 62 | 74 | 75 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 5 | 7 | 5 | 6 | 10 | 1 | 1 | 2 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | -2 | 6 | 5 | -5 | 2 | 10 | -7 | 3 | -1 | 2 |
| Cash Flow from Investing Activities | 2 | 4 | -3 | -1 | -4 | 3 | -0 | 1 | -2 | -6 | -1 |
| Cash Flow from Financing Activities | -0 | -4 | -2 | -1 | 5 | -4 | -9 | 5 | -1 | 7 | -1 |
| Net Cash Inflow / Outflow | 3 | -2 | 2 | 4 | -4 | 0 | 1 | -2 | 0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 7 | 5 | 6 | 10 | 6 | 1 | 2 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.54 | 0.44 | 1.62 | 0.04 | 1.05 | 1.11 | 0.25 | 0.3 | -0.72 | 0.76 | 0.37 |
| CEPS(Rs) | 1.2 | 1.1 | 2.36 | 0.99 | 2.24 | 2.42 | 1.61 | 1.63 | 0.56 | 2.25 | 1.77 |
| DPS(Rs) | 0.25 | 0.25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 19.22 | 19.95 | 21.57 | 21.61 | 22.58 | 23.67 | 23.92 | 24.21 | 23.49 | 24.25 | 24.63 |
| Core EBITDA Margin(%) | 3.73 | 4.79 | 0.35 | 8.39 | 12.99 | 8.88 | 13.04 | 11.76 | 2.21 | 13.03 | 9.85 |
| EBIT Margin(%) | 2.99 | 3.67 | 6.71 | 5.26 | 10.12 | 16.49 | 5.52 | 5.9 | -7.37 | 8.04 | 5.29 |
| Pre Tax Margin(%) | 1.6 | 1.6 | 4.51 | 0.6 | 5.99 | 8.82 | 2.15 | 2.17 | -11.98 | 2.74 | 2.03 |
| PAT Margin (%) | 1.09 | 1.09 | 4.74 | 0.25 | 5.41 | 8.62 | 1.59 | 2.12 | -8.45 | 4.11 | 1.56 |
| Cash Profit Margin (%) | 2.44 | 2.7 | 6.93 | 5.74 | 11.6 | 18.75 | 10.29 | 11.66 | 6.58 | 12.09 | 7.41 |
| ROA(%) | 1.55 | 1.35 | 4.61 | 0.12 | 2.99 | 3.05 | 0.72 | 0.89 | -2.17 | 2.16 | 0.96 |
| ROE(%) | 2.82 | 2.27 | 7.79 | 0.2 | 4.74 | 4.82 | 1.05 | 1.23 | -3.04 | 3.2 | 1.53 |
| ROCE(%) | 5.87 | 5.9 | 8.32 | 3.19 | 6.33 | 6.44 | 2.82 | 2.75 | -2.03 | 4.4 | 3.41 |
| Receivable days | 26.13 | 35.78 | 71.32 | 103.97 | 90.03 | 207.44 | 160.1 | 199.66 | 312.42 | 124.06 | 117.91 |
| Inventory Days | 52.51 | 58.41 | 70.26 | 134.04 | 87.93 | 121.91 | 88.84 | 78.11 | 188.26 | 112.16 | 96.6 |
| Payable days | 32.71 | 80.55 | 89.17 | 183.19 | 107.57 | 96.26 | 97.61 | 96.91 | 196.92 | 45.58 | 38.85 |
| PER(x) | 2943.83 | 217.27 | 12.99 | 289.47 | 9.27 | 2.19 | 68.96 | 57.17 | 0 | 29.04 | 71.03 |
| Price/Book(x) | 81.96 | 4.84 | 0.97 | 0.59 | 0.43 | 0.1 | 0.72 | 0.7 | 0.6 | 0.91 | 1.08 |
| Dividend Yield(%) | 0.02 | 0.26 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 32.07 | 2.45 | 0.73 | 0.82 | 0.91 | 0.68 | 1.2 | 1.58 | 2.23 | 1.66 | 1.47 |
| EV/Core EBITDA(x) | 737.55 | 46.44 | 8.18 | 7.66 | 5.55 | 2.54 | 8.43 | 10.26 | 29.17 | 10.39 | 13.22 |
| Net Sales Growth(%) | 18.51 | -16.67 | -16.81 | -49.2 | 11.71 | -33.16 | 21.3 | -10.91 | -38.61 | 116.98 | 28.35 |
| EBIT Growth(%) | 37.88 | 2.2 | 52.06 | -60.18 | 114.86 | 8.93 | -59.43 | -4.68 | -176.65 | 336.7 | -15.58 |
| PAT Growth(%) | 3.56 | -16.9 | 263.59 | -97.29 | 2293.29 | 6.4 | -77.66 | 19.21 | -344.18 | 205.53 | -51.17 |
| EPS Growth(%) | 3.56 | -16.9 | 263.58 | -97.3 | 2294.89 | 6.4 | -77.67 | 19.22 | -344.18 | 205.52 | -51.16 |
| Debt/Equity(x) | 0.28 | 0.32 | 0.33 | 0.31 | 0.48 | 0.38 | 0.2 | 0.29 | 0.32 | 0.52 | 0.51 |
| Current Ratio(x) | 1.4 | 1.6 | 1.53 | 2.06 | 1.93 | 2.05 | 2.98 | 2.53 | 3.05 | 2.17 | 2.09 |
| Quick Ratio(x) | 0.73 | 1.14 | 1.01 | 1.56 | 1.53 | 1.69 | 2.48 | 2.27 | 2.2 | 1.78 | 1.56 |
| Interest Cover(x) | 2.15 | 1.77 | 3.05 | 1.13 | 2.45 | 2.15 | 1.64 | 1.58 | -1.6 | 1.52 | 1.63 |
| Total Debt/Mcap(x) | 0 | 0.07 | 0.34 | 0.53 | 1.12 | 3.7 | 0.28 | 0.42 | 0.53 | 0.57 | 0.47 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 61.25 | 61.25 | 61.25 | 61.25 | 61.25 | 63.86 | 63.86 | 63.86 | 63.86 | 63.86 |
| FII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 38.73 | 38.73 | 38.73 | 38.73 | 38.73 | 36.13 | 36.13 | 36.13 | 36.13 | 36.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.23 | 1.23 | 1.23 | 1.23 | 1.23 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.74 | 0.74 | 0.74 | 0.74 | 0.74 | 0.69 | 0.69 | 0.69 | 0.69 | 0.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 |
* The pros and cons are machine generated.
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