Conference Call with TCPL Packaging Management and Analysts on Q1FY27 Performance and Outlook. Listen to the full earnings transcript.
Containers & Packaging company TCPL Packaging announced Q1FY27 results Consolidated Financial Highlights: The company reported Revenue from Operations of Rs 492.97 crore in Q1FY27, representing a YoY increase of 16.08% from Rs 424.68 crore in Q1FY26 and a QoQ increase of 8.62% from Rs 453.83 crore in Q4FY26. Total Income from Operations for Q1FY27 stood at Rs 494.94 crore, showing a YoY growth of 15.91% from Rs 426.99 crore and a QoQ growth of 6.38% from Rs 465.24 crore. Profit before tax for Q1FY27 reached Rs 52.69 crore, marking a YoY increase of 82.63% from Rs 28.85 crore and a QoQ increase of 30.94% from Rs 40.24 crore. Net Profit for the period (Profit after tax) was Rs 40.01 crore in Q1FY27, compared to Rs 22.32 crore in Q1FY26 (up 79.26% YoY) and Rs 21.72 crore in Q4FY26 (up 84.21% QoQ). Total Comprehensive Income for the period stood at Rs 39.49 crore in Q1FY27, compared to Rs 22.27 crore in Q1FY26 and Rs 23.03 crore in Q4FY26. Basic and Diluted Earnings Per Share (EPS) for Q1FY27 was Rs 43.96, compared to Rs 24.52 in Q1FY26 and Rs 23.87 in Q4FY26. Standalone Financial Highlights: The company reported Revenue from Operations of Rs 473.97 crore in Q1FY27, showing a YoY increase of 15.75% from Rs 409.46 crore in Q1FY26 and a QoQ increase of 8.70% from Rs 436.06 crore in Q4FY26. Total Income from Operations for Q1FY27 stood at Rs 476.82 crore, up 15.67% YoY from Rs 412.23 crore and up 6.42% QoQ from Rs 448.07 crore. Standalone Profit After Tax for Q1FY27 was Rs 37.63 crore, reflecting a YoY growth of 65.63% from Rs 22.72 crore and a QoQ growth of 77.75% from Rs 21.17 crore. Standalone Basic and Diluted EPS for Q1FY27 stood at Rs 41.35, compared to Rs 24.97 in Q1FY26 and Rs 23.27 in Q4FY26. Business Highlights: New Line of Business: The Board of Directors approved entering into a new line of business: the manufacture of lithium-ion battery separator films. This will be executed through a proposed new subsidiary. Lithium-ion Project Investment: Approximately Rs 125 crore will be invested in the new line of business over the next 18 months. Facility Capacity: The proposed lithium-ion battery separator film facility will have an initial capacity of 70 million square meters per annum, which is equivalent to supporting 6-8 GWh of lithium-ion battery cell production annually. Production Timeline: Commercial production for the new line of business is targeted for Q4FY28. Expansion Horizon: The TCPL Group envisages scaling the annual production capacity of the separator film to approximately 500 million square meters over a phased horizon of 5-7 years. Exceptional Item (FY26): In the previous financial year, the company recognized a provision for increased employee benefit obligations arising from the implementation of the new Labour Codes. The standalone impact was Rs 2.22 crore for Q4FY26 and Rs 13.52 crore for FY26. Saket Kanoria, Chairman & Managing Director, TCPL Packaging, said: “FY2027 has commenced on a strong note, with TCPL delivering broad-based and profitable growth. During the quarter, revenue increased by 16% Y-o-Y, EBITDA grew by 17% and cash profit increased by 56%, reflecting healthy demand, particularly in the domestic market, due to improved operating performance and the benefits of our sustained investments and disciplined execution. Both our Folding Cartons and Flexible Packaging businesses performed exceptionally well, enabling us to continue growing ahead of the market and gain share across key segments. With our existing Flexible Packaging facility now operating at optimal utilisation, we are investing in an additional high-speed and capacity line to support the next phase of growth. We will continue to invest across technology, capacity and value-added solutions to deepen customer relationships and further strengthen our competitive position. Packaging remains the cornerstone of TCPL and the principal focus of our investment and expansion plans. We see strong potential to further build our position by broadening our offerings and deepening relationships with customers in India and overseas. Alongside the continued expansion of our core packaging business, we are pleased to announce strategic entry into the battery materials business through a subsidiary proposed to be incorporated for the manufacture of lithium-ion battery separator films. This represents an attractive long-term opportunity in a rapidly growing sector and provides the TCPL Group with an additional platform for future growth. With healthy momentum across our packaging businesses, ongoing investments and the addition of new growth opportunities, we remain confident of sustaining our strong performance and creating long-term value for all our stakeholders.” Result PDF
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
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