TCPL Packaging Ltd

TCPLPACK

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Market Cap

₹ 2,724 Cr

P/E

21.48

Turned 1 L into 7.16 L in last 5 Years

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

EXCEPTIONAL

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

TCPL Packaging Limited is one of India's largest manufacturers of folding cartons and converters of paperboard, serving the consumer packaged goods industry.

The company reported stable performance amidst challenging conditions with Q2 FY26 revenue totaling INR 461 crore and H1 revenue reaching INR 885 crore, supported by robust customer engagement.

TCPL has recently expanded its footprint with a new manufacturing plant in Chennai, enhancing its southern India presence and strengthening capabilities in sustainable paperboard packaging.

Export markets experienced volatility, affecting performance. The domestic market saw disruptions due to GST revisions, but conditions are stabilizing, with demand expected to improve.

The company focuses on future growth by leveraging a strong balance sheet and customer relationships, with strategic initiatives underway for long-term success.

Sector

Packaging

Industry

Packaging - Others

Market Cap

2,724 Cr

Volatility

Moderate Risk

P/E Ratio

21.5

Industry P/E

15.1

PEG Ratio

0.5

P/B Ratio

4.1

52W High

4,909.55

52W Low

2,924.60

Sales CAGR

14.85%

16.39%

13.78%

10Y

11.47%

Profit CAGR

43.89%

42.08%

31.07%

10Y

15.61%

ROE

TTM

18.94%

22.09%

19.48%

10Y

18.04%

ROCE

TTM

17.04%

25.16%

22.91%

10Y

21.18%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AGI	732.00	4,694 Cr	13.34	2.12	0.96	15.87	19.88	10.46
UFLEX	471.65	3,404 Cr	10.73	0.44	0.64	4.10	6.58	1.88
TCPLPACK	2929.40	2,724 Cr	21.48	4.07	1.00	18.94	17.04	7.38
EKC	117.25	1,332 Cr	13.57	1.04	0.59	7.51	9.81	5.64
ORICONENT	60.90	921 Cr	38.31	0.87	0.85	1.91	2.45	1.77
SUBAM	199.10	455 Cr	17.03	1.42	0.00	6.69	8.00	3.17
BBTCL	195.00	404 Cr	—	3.42	0.00	-1.65	5.72	-0.65

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	371	406	364	401	406	463	480	422	425	460
Expenses	310	341	309	330	334	386	409	350	352	391
Operating Profit	61	65	55	70	71	77	71	72	73	69
OPM %	16.53	16.05	15.01	17.57	17.61	16.63	14.72	17.06	17.10	15.08
Other Income	0.57	2.77	6.72	0.51	1.63	0.63	12	3.66	2.31	9.09
Interest	14	13	15	14	13	14	15	18	26	20
Depreciation	16	18	18	19	19	19	19	18	20	22
Profit Before Tax	32	37	28	38	41	45	48	39	29	37
Tax %	26.50	22.47	31.03	22.98	23.21	20.31	21.85	3.70	22.63	22.77
Net Profit	24	28	19	29	32	36	38	38	22	29
EPS in Rs	26.13	32.19	21.37	31.90	34.86	39.05	41.46	41.78	24.52	31.56

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	904	1,086	1,475	1,541	1,770	1,789
Expenses	770	931	1,239	1,290	1,477	1,497
Operating Profit	133	155	236	251	293	292
OPM %	14.77	14.28	16.00	16.31	16.56	16.33
Other Income	2.54	2.87	27	11	14	19
Interest	37	34	47	56	58	73
Depreciation	51	56	64	72	75	76
Profit Before Tax	47	68	152	135	174	161
Tax %	29.30	30.83	27.14	24.68	17.66	17.13
Net Profit	33	47	110	101	143	134
EPS in Rs	—	51.51	121.36	111.59	157.15	139.32
Dividend Payout %	19.98	19.41	16.48	19.75	19.09	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9.10	9.10	9.10	9.10	9.10
Reserves	291	331	433	517	635
Borrowings	321	463	501	504	651
Other Liabilities	217	268	275	298	317
Total Liabilities	838	1,072	1,218	1,328	1,612
Fixed Assets	448	540	580	696	771
CWIP	11	48	44	6.94	64
Investments	0.00	0.97	0.00	0.00	0.00
Other Assets	379	482	594	625	776
Total Assets	838	1,072	1,218	1,328	1,612

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	111	97	109	234	133
Cash from Investing Activity	-41	-195	-90	-157	-150
Cash from Financing Activity	-67	101	-22	-76	18
Net Cash Flow	2.86	3.27	-2.35	1.39	1.00

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	55.87%	55.87%	55.87%	55.87%	55.87%	55.87%	55.87%	55.87%	55.87%	55.86%	55.86%	55.86%
FIIs	0.95%	0.70%	0.62%	0.71%	0.74%	0.81%	0.78%	0.93%	0.92%	1.18%	0.94%	0.92%
DIIs	3.96%	4.00%	4.00%	5.96%	6.51%	8.02%	9.22%	11.38%	11.71%	11.58%	11.66%	12.18%
Public	39.22%	39.43%	39.51%	37.46%	36.87%	35.30%	34.12%	31.82%	31.51%	31.38%	31.54%	31.04%
Total Shareholders	17,659	17,600	18,123	15,674	15,686	14,545	14,082	13,774	14,277	16,185	16,835	16,486

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Aug 01, 2024	Mncl capital compounder fund 2	Bulk	Buy	3,099.38	14.38 Cr	46,390	0.50
Aug 01, 2024	Mncl capital compounder fund 2	Bulk	Buy	3,098.32	15.22 Cr	49,109	0.53

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Acquisition Update

13 hours ago

TCPL Packaging Invests in Subsidiaries

TCPL Packaging Limited has further invested in two wholly owned subsidiaries, Creative Offset Printers Private Limited and Accura Technik Private Limited, totaling Rs. 3.49 crores.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

Showing 1 - 8 of 20

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