TPL Plastech Q2 profit rises to Rs 8.378 crore year-on-year

TPL Plastech Limited reported consolidated profit after tax of Rs 8.378 crore for the quarter ended September 30, 2026, compared with Rs 6.5239 crore a year earlier, while its Bhuj, Gujarat, facility commenced commercial operations with capacity to manufacture 150,000 Intermediate Bulk Containers annually.

How did TPL Plastech perform in the September quarter?

TPL Plastech reported consolidated revenue from operations of Rs 149.4982 crore for the quarter ended September 30, 2026, up from Rs 124.3802 crore in the corresponding quarter a year earlier and Rs 106.868 crore in the preceding quarter. The quarterly increase over the preceding quarter was Rs 42.6302 crore, while the year-on-year increase was Rs 25.118 crore.

Consolidated profit before tax rose to Rs 10.986 crore from Rs 8.5341 crore a year earlier and Rs 9.1512 crore in the preceding quarter. After tax expense of Rs 2.608 crore, profit after tax was Rs 8.378 crore, compared with Rs 6.848 crore in the June 2026 quarter. Basic and diluted earnings per share were Rs 1.07, against Rs 0.84 in the September 2025 quarter.

How did TPL Plastech’s costs change in the September quarter?

TPL Plastech recorded material consumption of Rs 129.1438 crore in the September 2026 quarter, compared with Rs 101.348 crore in the year-earlier quarter. Changes in inventories of finished goods and work in progress were a reduction of Rs 5.6747 crore, compared with an increase of Rs 2.1419 crore a year earlier, affecting the comparison of expenditure across the two periods.

Employee-benefit expense increased to Rs 3.4596 crore from Rs 2.8539 crore, while other expenses rose to Rs 8.7261 crore from Rs 6.7397 crore. Depreciation and amortisation rose to Rs 1.6209 crore from Rs 1.5633 crore, and finance costs were Rs 1.256 crore, compared with Rs 1.2189 crore a year earlier and Rs 1.3051 crore in the preceding quarter.

Total income was Rs 149.5177 crore in the September 2026 quarter, compared with Rs 124.3997 crore in the corresponding prior-year quarter. Other income was Rs 1.95 lakh in both periods, so the increase in total income principally reflected the Rs 25.118 crore rise in revenue from operations rather than a change in other income.

What does the Bhuj IBC facility add to TPL Plastech?

TPL Plastech commenced commercial operations during the quarter through its wholly owned subsidiary at Bhuj, Gujarat, for manufacturing Intermediate Bulk Containers, or IBCs. The facility has installed capacity of 150,000 IBCs per annum and is expected by the company to generate additional annual revenue of approximately Rs 100 crore.

The results filing does not disclose the date of commissioning within the quarter ended September 30, 2026, the capital expenditure for the Bhuj facility, its utilisation rate or its order position. It also does not state how much of the quarter’s consolidated revenue of Rs 149.4982 crore, or profit after tax of Rs 8.378 crore, came from the new operation.

TPL Plastech classifies its operations as a single Industrial Packaging segment under Indian Accounting Standard 108. Consequently, the filing provides no separate segment revenue, expenses, assets or profit measure for the Bhuj IBC facility against the rest of the Industrial Packaging business.

What do TPL Plastech’s half-year results show?

TPL Plastech reported consolidated revenue from operations of Rs 272.8974 crore for the half year ended September 30, 2026, compared with Rs 197.2631 crore in the corresponding six months a year earlier. Consolidated profit after tax increased to Rs 14.9019 crore from Rs 12.3226 crore, while profit before tax rose to Rs 19.5201 crore from Rs 16.467 crore.

Material consumption for the six months was Rs 230.4918 crore, employee-benefit expense was Rs 6.3135 crore, and depreciation and amortisation was Rs 3.1842 crore. Finance costs declined to Rs 2.4749 crore from Rs 2.6176 crore in the corresponding prior-year half, while basic and diluted earnings per share increased to Rs 1.91 from Rs 1.58.

Consolidated net cash from operating activities was Rs 20.6792 crore for the half year ended September 30, 2026. The cash-flow statement recorded Rs 19.8922 crore spent on property, plant and equipment, including capital advances, in investing activities, alongside net borrowings proceeds of Rs 12.418 crore in financing activities.

How did TPL Plastech’s balance sheet change by September 2026?

TPL Plastech’s consolidated property, plant and equipment stood at Rs 104.7269 crore on September 30, 2026, compared with Rs 88.0614 crore on March 31, 2026. Capital work-in-progress rose to Rs 5.8597 crore from Rs 5.613 crore, while right-of-use assets increased to Rs 8.2537 crore from Rs 1.7158 crore.

Consolidated inventories increased to Rs 82.4035 crore from Rs 68.2672 crore over the six months, and trade receivables rose to Rs 65.8791 crore from Rs 62.602 crore. Cash and cash equivalents were Rs 20.30 lakh at September 30, compared with Rs 10.96 lakh at March 31, while other bank balances increased to Rs 7.0421 crore from Rs 5.6491 crore.

Current borrowings rose to Rs 25.8339 crore at September 30 from Rs 16.263 crore at March 31, and non-current borrowings increased to Rs 4.2189 crore from Rs 1.3718 crore. Other equity stood at Rs 158.0576 crore, compared with Rs 153.2962 crore at the financial year-end, while paid-up equity share capital remained Rs 15.6006 crore.

Conclusion

TPL Plastech combined higher September-quarter revenue of Rs 149.4982 crore with consolidated profit after tax of Rs 8.378 crore, up from Rs 6.5239 crore a year earlier. The half-year result also showed revenue of Rs 272.8974 crore and profit after tax of Rs 14.9019 crore, alongside increases in property, plant and equipment, inventories, receivables and borrowings.

The next disclosed operating measure to watch is the Bhuj facility’s progress towards the company’s expectation of approximately Rs 100 crore in additional annual revenue from its 150,000-IBC annual capacity. The filing does not disclose a utilisation target, revenue timetable or the new unit’s September-quarter contribution, leaving subsequent results to show the pace of ramp-up.