TCPL Packaging announced Q3FY23 results: Consolidated Q3FY23: Total Revenues stood at Rs 378.1 crore, up 37%. EBITDA stood at Rs 60.5 crore, with margins at 16%. Cash Profit improves by 44% to Rs 50.0 crore. Commenting on the performance for Q3 & 9MFY2023 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “We have delivered a robust performance during the period under review, despite the ongoing macroeconomic challenges. On a consolidated basis, our topline expanded by 37% and 43% on a YoY basis in Q3 & 9MFY23 on the back of higher volumes and better realizations, demonstrating the strength of our resilient business model. In Q3 & 9MFY23, our PBT expanded by 68% and 121%, while our PAT grew to 75% and 184%, respectively, on a YoY basis. In a key development, we have further invested in the Creative Offset Printers Private Limited (COPPL) Right Issue to increase our stake to ~84% post allotment of shares. We remain excited about our entry into the high-potential rigid box segment, as we aim to capture a share of the rapidly growing smartphone market. This move is aligned with our strategy of growth through diversification and strengthens our long-term growth prospects. Paperboard, being a naturally renewable and sustainable product, is playing a crucial role in the worldwide transition towards environmentally responsible packaging solutions. Given our leadership position in the sector, we are taking steps to promote the use of sustainable solutions. This includes working with customers to replace non-sustainable materials, such as plastic food trays, with biodegradable alternatives, as well as establishing an in-house process to transfer metalized effects onto paperboard, reducing the reliance on metalized plastic film. In the flexible packaging space, TCPL has started commercial production of eco-friendly Polyethylene (PE) blown films. These films will also allow customers to shift towards recyclable and sustainable packaging solutions and replace the non-recyclable multi-polymer products prevalent in the market. Overall, our focused strategy for growth through diversification has enabled us to consistently outperform our underlying industries. We remain committed to sustainably growing the Company in the future, which will help create sustainable value for all our stakeholders.” Result PDF
Paper & paper products company TCPL Packaging announced Q2FY23 results: Q2 FY23 (Consolidated): Total Revenues stood at Rs. 361.7 crore, up 43% EBITDA stood at Rs. 57.5 crore, with margins at 16% Cash Profit improved by 131% to Rs. 65.8 crore Commenting on the performance for Q2 & H1 FY2023 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “TCPL has shown solid resilience and achieved yet another quarter of strong performance amidst a challenging operating environment. Our consolidated revenues grew by 43% YoY to Rs. 361.7 crore on the back of higher volumes and better realizations. In addition, we witnessed stability in our key raw materials, which enabled us to register robust profitability during the quarter. EBITDA improved by 60% YoY to Rs. 57.5 crore in Q2, translating into healthy margins of 16%. With our COPPL acquisition, the Company has entered the high-potential rigid box segment and is catering to several fast-growing end-user electronic industries. This is in-line with our growth through diversification strategy and strengthens our long-term growth prospects. I am pleased to share that we have successfully onboarded a number of customers in this segment and look forward to enhancing our business with them in the coming quarters. Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries. We believe TCPL is well poised to capitalize on the rising demand on the back of our expertise to design, develop, and deliver sustainable packaging solutions for leading brands.” Result PDF
Paper & Paper Products firm TCPL Packaging announced Q1FY23 Result : Total Revenues stood at Rs. 335.5 crore, up 48.4% EBITDA stood at Rs. 53.6 crore, with margins at 16.0% Cash Profit improves by 105.6% to Rs. 46.9 crore Commenting on the performance for Q1 FY2023 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “We are pleased to report that we have commenced the fiscal year 2023 on a strong note despite a challenging macro environment. On a YoY basis, our standalone revenues grew by 48.4% to Rs. 335.5 crore and Cash Profits improved by 105.6% to Rs. 46.9 crore in Q1. While we continue to witness volatility in raw material prices, we were able to mitigate the impact & improve our margins. In a key development, TCPL Innofilms Private Limited, the Company's wholly owned subsidiary, commenced the commercial production of its Polyethylene (PE) blown film line. With India's ban on single-use plastics, we are clearly moving towards eco-friendly policies to accelerate the green transition. We believe TCPL is fully equipped and will proactively drive the development of this sustainable flexible packaging solution. Overall, TCPL is well positioned to cater to the growing demand for sustainable packaging solutions from leading brands and continues to support efforts towards facilitating a waste-free world. Our focused strategy of growth through diversification has enabled us to consistently outperform our underlying industries. We are one of the few listed Companies in India to have grown almost every year for the past 30 years with a revenue and PAT CAGR of ~20% and ~27% respectively. We remain committed to sustainably growing the Company in the future, which will help create value for all our stakeholders.” Result PDF