CCL Products hit a new 52-week high today at Rs.321.50 and this was on the back of a superlative performance for Q3FY17. Looks like people preferred to drown their stress on demonetization over cups of coffee!

The company, for Q3FY17, posted a whopping 76% (YoY) jump in consolidated net profit at Rs.46 crore on a 35% rise in total income at Rs.287 crore. EBITDA came in at Rs.77 crore, up 69% and margins did a smart jump up from 21.4% to 26.9%.

The largest exporter of instance coffee from India, under the brand name of ‘Continental’, the company is working full throttle. By end of FY17, its Vietnam unit will be working at full capacity. Its capacity in India is currently 20,000 tpa and as explained by Mr.Tulsian in the Market Whispers column, it is putting up a 5000 tpa plant in Chittoor in Andhra Pradesh, expected to go on stream by H1FY19. It is also putting up a subsidiary which will manage the entire operations in Andhra Pradesh and investing Rs.30 crore in a phased manner in one more of its subsidiaries. Mr.Tulsian has given a price target of Rs.325 over one month.