Conference Call with TCPL Packaging Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging company TCPL Packaging announced Q3FY26 results Revenue: Rs 471.2 crore against Rs 479.7 crore during Q3FY25, change -2%. EBITDA: Rs 81 crore against Rs 70.6 crore during Q3FY25, change 15%. PBT: Rs 46.7 crore against Rs 48.3 crore during Q3FY25, change -3%. PAT: Rs 25 crore against Rs 37.7 crore during Q3FY25, change -34%. EPS: Rs 27.5 for Q3FY26. Saket Kanoria, Managing Director, TCPL Packaging, said: “Our performance during the quarter was led by a strong domestic business, which delivered healthy growth and helped offset lower export volumes amid a subdued global environment. Consolidated revenues for Q3FY26 stood at Rs 471 crore. EBITDA increased by 15% YoY, with margins expanding over 240 basis points to 17%, primarily driven by gross margin improvement and operating efficiencies. Exports were impacted during the quarter, largely due to a high base and continued softness in overseas markets. We remain focused on strengthening customer relationships across markets while taking a calibrated approach to exports. I am pleased to announce the commissioning of our gravure cylinder manufacturing facility at Silvassa. The facility enhances our control over a key input, supports improved print precision, and enables faster response to customer requirements. It strengthens our backward integration and is expected to contribute to better operational efficiency and quality consistency across our packaging solutions. Looking ahead, with domestic demand expected to remain healthy and the trade deals made by India with the EU and USA, our focus is on expanding our footprint, broadening our product portfolio, and driving growth through diversification. Backed by a strong balance sheet and disciplined capital allocation, we are well positioned to benefit from the shift towards organised players and deliver sustained long-term value.” Result PDF
Containers & Packaging company TCPL Packaging announced Q2FY26 results Total Revenues: Rs 460.5 crore against Rs 462.6 crore during Q2FY25, change 0%. EBITDA: Rs 69.4 crore against Rs 76.9 crore during Q2FY25, change -10%. EBITDA Margin: 15.1% for Q2FY26. PBT: Rs 37.2 crore against Rs 44.6 crore during Q2FY25, change -17%. PAT: Rs 28.7 crore against Rs 35.5 crore during Q2FY25, change -19%. EPS: Rs 31.6 for Q2FY26. Saket Kanoria, Managing Director, TCPL Packaging, said: “We reported steady topline performance amid a subdued demand environment. Consolidated revenue for Q2FY26 stood at Rs 461 crore, supported by our diversified portfolio and customer base. EBITDA margins were broadly stable on a similar revenue base, with the decline in PBT and PAT reflecting higher depreciation and interest costs. The revision in GST slabs during the quarter resulted in short-term recalibration across parts of the trade channel, adding to the subdued demand environment. This transition has largely normalised, and we expect GST rationalisation to support improvement in the underlying demand. Our newly commissioned Chennai Greenfield plant continues to ramp up well, supported by encouraging customer traction. The facility strengthens our presence in Southern India and enhances our capabilities in sustainable paperboard packaging. It remains on track to achieve optimal utilisation over the next few quarters. We remain focused on driving operational excellence, expanding our product mix, and pursuing growth through diversification. With a strong financial position and disciplined investments, we are confident that our strategic priorities and prudent capital allocation will support steady progress and long-term value creation.” Result PDF
Containers & Packaging company TCPL Packaging announced Q1FY26 results Total Revenues: Rs 424.7 crore compared to Rs 405.6 crore during Q1FY25, change 4.7%. EBITDA: Rs 72.6 crore compared to Rs 71.4 crore during Q1FY25, change 1.7%. EBITDA Margin: 17.1% for Q1FY26. PBT: Rs 28.8 crore compared to Rs 41.3 crore during Q1FY25, change -30.2%. PAT: Rs 22.3 crore compared to Rs 31.7 crore during Q1FY25, change -29.7%. EPS: Rs 24.5 for Q1FY26. Saket Kanoria, Managing Director, TCPL Packaging, said: “We have reported a 4.7% growth in consolidated revenues for Q1FY26, amounting to Rs 424.7 crore. While this growth was tempered by softer domestic demand and challenges in international markets, our strategic focus on diversification and expanding our geographical footprint has helped sustain our growth momentum. Additionally, our key segments, paperboard and flexible packaging, have contributed to the overall results, highlighting the resilience of our diversified portfolio in the face of external headwinds. EBITDA for the quarter remained steady at Rs 72.6 crore, with an EBITDA margin of 17.1%, despite fixed costs from the new greenfield facility and limited revenue growth. PBT was impacted by a Rs 10.63 crore forex loss, arising from MTM adjustments on term loans availed in Euro currency. As part of our strategic expansion, the recently established Chennai Greenfield plant has demonstrated stable operational performance. We are experiencing strong engagement with customers in the region and are leveraging our pan-India relationships to ramp up the facility within this fiscal year. This facility will enhance our capabilities in sustainable packaging, with a focus on high-quality paperboard cartons, and provide further scale to our operations in the Southern region. Looking ahead, we remain committed to operational efficiency, innovation, sustainability, and growth-through-diversification as key pillars of our strategy. With a strong balance sheet and disciplined investments, we are well-positioned to capitalize on emerging opportunities and further enhance value for all our stakeholders. We believe that our continued focus on innovation and identifying new growth avenues will drive sustainable growth over the long term.” Result PDF
Conference Call with TCPL Packaging Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging company TCPL Packaging announced Q3FY25 results Total Revenue stood at Rs 480 crore, up 32% EBITDA stood at Rs 71 crore, up 29% PAT stood at Rs 38 crore, up 101% EPS came in at Rs 41.5 Saket Kanoria, Managing Director, TCPL Packaging said: “We are pleased to announce yet another record quarter, reflecting our strong growth momentum and consistent performance. Growth was supported by both our key segments—paperboard and flexible packaging—driven by a favourable product mix, operational efficiencies, and a broadening customer base. Additionally, last year’s corresponding quarter was particularly weak, and we have bounced back strongly, resulting in significantly higher YoY growth. On a sequential basis, growth has remained healthy, showcasing sustained business progress. During the quarter, we reported a 32% YoY increase in consolidated revenues, reaching Rs 480 crore. EBITDA grew by 29%, while PAT improved by 101%. Our flexible packaging segment continues to perform exceptionally well in the domestic market, supported by resilient demand across key end-user industries. Meanwhile, our core paperboard packaging segment has delivered stable growth domestically, with stronger performance in overseas markets. This broad-based momentum, combined with our focus on operational efficiencies and product innovation, has enabled us to deliver healthy performance. With domestic trends expected to improve further in the coming quarters and steady growth drivers in place, we remain confident in maintaining our long-term growth trajectory. Our New Greenfield facility in Southern India near Chennai, dedicated to manufacturing paperboard cartons, is progressing well and is set to be commissioned in the current quarter. This state-of-the-art facility will strengthen our pan-India presence, enhance logistics and service capabilities, and strategically position us to serve key industrial hubs across the region. With a continued focus on diversification and expanding our manufacturing footprint, we are well positioned to capitalize on emerging opportunities as the Indian packaging industry transitions towards organized, large-scale players. This evolution in the industry, combined with our strategic growth initiatives, reinforces our market position and strengthens our ability to drive sustainable growth and long-term value creation for all stakeholders.” Result PDF