NSE: TCPLPACK · BSE: 523301 · ISIN INE822C01015
TCPL Packaging Limited stock analysis
TCPL Packaging Limited ranks #1128 in the TickerSutra evidence-ranked universe with a score of 56/100 and 95% data confidence. The latest captured fundamentals show ROCE of 17.9%, quarterly sales growth of 15.8% and quarterly profit growth of 65.5%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 0.94×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,076cr | ₹156cr | ₹49cr | 15.0% |
| 2023 | ₹1,432cr | ₹236cr | ₹118cr | 16.0% |
| 2024 | ₹1,491cr | ₹249cr | ₹102cr | 17.0% |
| 2025 | ₹1,696cr | ₹287cr | ₹141cr | 17.0% |
| 2026 | ₹1,736cr | ₹284cr | ₹97cr | 16.0% |
| TTM | ₹1,801cr | ₹293cr | ₹112cr | 16.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
TCPL Packaging Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineTCPL Packaging Ltd-$ - 523301 - Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011BSE · 25 Sept 2026The Exchange has received the disclosure under Regulation 29(1) & 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veer Kanoria through guardian Akshay ....
MANAGEMENT COMMENTARY
Signals from filed documents
The flexible packaging business continued to deliver a strong performance during the year, supported by healthy demand, improved capacity utilisation, and sustained customer traction across key end-user industries. In the paperboard packaging segment, the Chennai Greenfield facility continued to scale up successfully, driven by encouraging customer traction and increasing business volumes. These investments have stre
Against this backdrop, the Company delivered steady growth, with consolidated revenue from operations increasing by 2.26% year-on-year to ₹ 1,810.21 crore, while standalone revenue from operations grew by 2.34% to ₹ 1,736.15 crore. Robust domestic demand, healthy volume growth across key customer segments, and continued market share gains helped offset the impact of export market disruptions during the year. The Comp
And how are exports trending this quarter as well? So we did have a growth in both domestic and export for the quarter and the domestic growth was much higher than our export growth at a good double-digit clip and the export was also not bad. So overall, we are quite pleased with the mix.
Another significant milestone during FY 2025-26 was achieved by Accura Technik Private Limited (ATPL), which commissioned a state-of-the-art gravure cylinder manufacturing facility in Silvassa in November 2025. With an installed capacity of approximately 1,000 cylinders per month, the facility is now fully operational and represents an important step in strengthening the Company’s backward integration capabilities. T
Together, these developments underline the quality of TCPL’s customer relationships and the Company’s continued focus on building trust through technical support, service consistency and reliable delivery. Expanding Customer Reach Healthcare Pharmaceuticals Food and Beverages Personal Care Cables Consumer Products Electronics Textiles 23 38th Annual Report 2025-26 Customer Appreciation FY 2025–26 Seamless coordinatio
Packaging remains the cornerstone of TCPL and will continue to be the principal focus of our investments. We see significant opportunities to deepen our presence across existing customers, broaden our product portfolio, expand our presence in international markets and further strengthen our leadership position across both paperboard and flexible packaging. At the same time, we continue to evaluate adjacent opportunit
We, therefore, see this as a logical extension of our capabilities into an adjacent technology-driven opportunity. The project will be established through a subsidiary with a proposed investment of approximately INR 125 crore, to be deployed over the next 18 months, with commercial production targeted during Q4 FY28. We intend to develop the business in a phased manner, initially focusing on establishing the manufact
With over three decades of experience in the global packaging industry, he brings deep sectoral knowledge and an international perspective to the Board. Independent Directors 9 38th Annual Report 2025-26 Message from the Chairman and Managing Director The packaging industry worldwide is witnessing a significant transformation, driven by customer requirements for sustainable solutions, regulatory expectations, and the
Logistics and freight costs have also remained erratic, impacting export markets, particularly the Gulf region. While partial cost pass-through and productivity improvement initiatives help mitigate the impact, margin pressure arising from time lags in price adjustments remains a risk across the Company’s business segments. SEGMENT–WISE OR PRODUCT-WISE PERFORMANCE The Company currently has only one segment of busines
Akshay Kanoria: So there is typically like something of a lag when it comes to price increases being passed on. It is a bit of a difficult calculation because we always have some stocks and stocks on order and everything, whenever a price increase is initiated, it takes like over a quarter for it to get passed through. Saket Kanoria: But basically, the EBITDA margin could not be maintained if we did not pass it throu
Lastly, given the strong growth and also increasing contribution from flexible packaging and other value-added products so how should we think about the overall margin trajectory over the next 3 to 4 years? So is there scope for structural margin expansion as the mix shifts towards the higher value-added businesses? Akshay Kanoria: So see, the flexible packaging is a lower-margin business generally speaking.
The pay-out on account of dividend amounts to ₹ 2275.00 lakhs, and this corresponds to 23.41% of the standalone profit. Dividend, if approved by the Members in the ensuing Annual General Meeting, would be subject to deduction of tax at source as per provisions of Income Tax Act, 1961, as applicable. The Board of Directors of your Company has approved and adopted the dividend distribution policy of the Company and div
MANAGEMENT PROMISE LEDGER
Quantified statements on the clock
“We, therefore, see this as a logical extension of our capabilities into an adjacent technology-driven opportunity. The project will be established through a subsidiary with a proposed investment of approximately INR 125 crore, to be deployed over the next 18 months, with commercial production targeted during Q4 FY28. We intend to develop the business in a phased manner, initially focusing on establishing the manufact”
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…