Conference Call with TCPL Packaging Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging company TCPL Packaging announced Q4FY26 & FY26 results Q4FY26 Consolidated Financial Highlights: Total Income stood at Rs 465.2 crore, reflecting a YoY growth of 9% compared to Rs 426.0 crore in Q4FY25. EBITDA (including other income) was Rs 80.8 crore, an increase of 7% YoY from Rs 75.7 crore in Q4FY25. EBITDA Margin for the quarter was 17.4%, representing a decline of 42 bps compared to 17.8% in Q4FY25. Profit Before Tax (PBT) grew by 7% YoY to Rs 42.5 crore, compared to Rs 39.5 crore in Q4FY25. Profit After Tax (PAT) for the quarter stood at Rs 21.7 crore, showing a YoY decline of 43% from Rs 38.0 crore in Q4FY25. Cash Profit reached Rs 60.8 crore, up 5% YoY from Rs 57.9 crore in Q4FY25. Earnings Per Share (EPS) stood at Rs 23.9, a decrease of 43% YoY from Rs 41.8 in Q4FY25. FY26 Consolidated Financial Highlights: Total Income for FY26 reached Rs 1,835.6 crore, representing a growth of 3% YoY from Rs 1,784.6 crore in FY25. EBITDA (including other income) was Rs 317.7 crore, showing a YoY increase of 3% over Rs 307.4 crore in FY25. EBITDA Margin stood at 17.3%, reflecting an improvement of 8.2 bps from 17.2% in FY25. PBT for the full year was Rs 155.1 crore, down 11% YoY compared to Rs 173.7 crore in FY25. PAT stood at Rs 97.8 crore, a decline of 32% YoY from Rs 143.0 crore in FY25. Cash Profit was Rs 224.6 crore, showing a 10% YoY decrease compared to Rs 249.2 crore in FY25. EPS for FY26 reached Rs 107.5, down 32% YoY from Rs 157.2 in FY25. Q4FY26 Standalone Financial Highlights: Total Income was Rs 448.1 crore, up 9% YoY from Rs 411.7 crore in Q4FY25. EBITDA (including other income) reached Rs 78.7 crore, showing a 9% YoY growth over Rs 72.5 crore in Q4FY25. EBITDA Margin stood at 17.6%, reflecting a decrease of 6 bps compared to 17.6% in Q4FY25. PBT for the quarter was Rs 42.0 crore, up 12% YoY from Rs 37.4 crore in Q4FY25. PAT was Rs 21.2 crore, reflecting a 40% YoY decline compared to Rs 35.3 crore in Q4FY25. Cash Profit stood at Rs 59.3 crore, representing a 7% YoY increase from Rs 55.1 crore in Q4FY25. EPS for the quarter was Rs 23.3, down 40% YoY from Rs 38.8 in Q4FY25. FY26 Standalone Financial Highlights: Total Income reached Rs 1,763.4 crore, reflecting a YoY growth of 3% from Rs 1,711.8 crore in FY25. EBITDA (including other income) was Rs 310.9 crore, up 3% YoY from Rs 301.8 crore in FY25. EBITDA Margin for FY26 was 17.6%, showing a marginal decline of 0.2 bps from 17.6% in FY25. PBT for the full year stood at Rs 154.3 crore, an 11% YoY decrease from Rs 172.7 crore in FY25. PAT was Rs 97.2 crore, reflecting a 31% YoY decline from Rs 141.3 crore in FY25. Cash Profit stood at Rs 220.4 crore, representing a 10% YoY decrease from Rs 245.4 crore in FY25. EPS for FY26 was Rs 106.8, showing a 31% YoY decline from Rs 155.2 in FY25. Business Highlights Domestic vs. Export Performance: Performance was bolstered by domestic business strength, with volume growth exceeding the underlying consumer market growth in India. However, exports were negatively impacted during the quarter due to geopolitical disruptions in the Middle East. Segment Performance: Flexible Packaging: This segment delivered a strong annual performance with healthy capacity utilization across manufacturing plants. Paperboard Segment: The Chennai Greenfield facility continues to scale up well and is seeing encouraging customer traction. Backward Integration: The gravure cylinder facility at Silvassa ramped up well, enhancing operational efficiency and supporting faster turnaround times for customer requirements. Shareholder Value: The Board recommended a dividend of Rs 25 per share for FY26, marking 26 consecutive years of uninterrupted payouts. Domestic Demand: Market conditions in India remain encouraging, with the company focused on expanding its footprint and broadening its product portfolio. Saket Kanoria, Chairman & Managing Director, TCPL Packaging, said: “Our performance during the quarter was supported by continued strength in the domestic business, where volume growth remained ahead of underlying consumer market growth in India. This helped mitigate the effect of geopolitical disruptions in the Middle East region. While exports were impacted in the quarter, we continued to strengthen our presence across other international markets and deepen customer relationships globally. We expect these efforts to support improved export momentum in the coming year as market conditions normalise. Consolidated total income for Q4FY26 stood at Rs 465 crore, while FY26 revenues stood at Rs 1,836 crore. Margin performance during the quarter reflected elevated raw material costs and the timing lag in passing on cost inflation. We remain focused on calibrated pricing actions, product mix improvement, and operating efficiencies to support margin recovery over the coming quarters. Our flexible packaging business delivered a strong performance during the year, with healthy capacity utilisation across plants and the last commissioned line operating at optimal levels. In the paperboard segment, the Chennai Greenfield facility continues to scale up well with encouraging customer traction. Additionally, the gravure cylinder facility at Silvassa has ramped up well, strengthening backward integration, enhancing operational efficiency, and supporting faster turnaround for customer requirements. In line with our commitment to shareholder value, the Board has recommended a dividend of Rs 25 per share for FY26, marking 26 consecutive years of uninterrupted payouts and underscoring our consistent dividend policy. Looking ahead, domestic demand conditions remain encouraging. Our focus remains on expanding our footprint, broadening our product portfolio, and pursuing new growth opportunities across businesses. Our strong innovation and new product development capabilities enable us to deliver differentiated, value-added packaging solutions, while close customer collaboration helps us align these offerings with evolving market needs. Together with our strong balance sheet, prudent capital allocation, and sustained investments in capabilities, we believe we remain well-positioned to drive healthy long-term growth and create sustained value for all stakeholders.” Result PDF
