TCPL Packaging Ltd
Incorporated in 1987, TCPL Packaging Ltd manufactures paperboard-based packaging materials and flexible packaging products[1]
- Market Cap ₹ 3,482 Cr.
- Current Price ₹ 3,835
- High / Low ₹ 4,910 / 2,060
- Stock P/E 24.6
- Book Value ₹ 713
- Dividend Yield 0.78 %
- ROCE 20.2 %
- ROE 23.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 31.1% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 17.9%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Packaging
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
395 | 498 | 593 | 613 | 698 | 816 | 890 | 904 | 1,076 | 1,432 | 1,486 | 1,696 | |
333 | 416 | 492 | 516 | 613 | 711 | 764 | 770 | 920 | 1,196 | 1,237 | 1,410 | |
Operating Profit | 61 | 82 | 101 | 97 | 85 | 105 | 126 | 134 | 156 | 236 | 249 | 286 |
OPM % | 16% | 17% | 17% | 16% | 12% | 13% | 14% | 15% | 15% | 16% | 17% | 17% |
-0 | -0 | -0 | 1 | 2 | 1 | 2 | 3 | 2 | 27 | 12 | 15 | |
Interest | 18 | 17 | 20 | 22 | 25 | 28 | 37 | 37 | 33 | 44 | 52 | 56 |
Depreciation | 24 | 22 | 25 | 29 | 35 | 36 | 48 | 52 | 55 | 61 | 68 | 73 |
Profit before tax | 20 | 43 | 55 | 46 | 27 | 42 | 42 | 48 | 70 | 158 | 141 | 173 |
Tax % | 37% | 25% | 31% | 30% | 25% | 31% | 14% | 29% | 30% | 26% | 24% | 18% |
12 | 32 | 38 | 32 | 20 | 29 | 37 | 34 | 49 | 118 | 107 | 141 | |
EPS in Rs | 14.37 | 37.00 | 44.00 | 37.32 | 22.22 | 31.81 | 40.13 | 37.08 | 54.13 | 129.16 | 117.08 | 155.24 |
Dividend Payout % | 17% | 16% | 17% | 17% | 17% | 16% | 10% | 20% | 18% | 15% | 19% | 19% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 14% |
3 Years: | 16% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 31% |
3 Years: | 43% |
TTM: | 33% |
Stock Price CAGR | |
---|---|
10 Years: | 24% |
5 Years: | 75% |
3 Years: | 63% |
1 Year: | 83% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 21% |
3 Years: | 24% |
Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
Reserves | 79 | 105 | 136 | 170 | 207 | 232 | 260 | 292 | 335 | 443 | 531 | 640 |
158 | 180 | 235 | 303 | 298 | 320 | 356 | 321 | 421 | 459 | 468 | 614 | |
75 | 103 | 105 | 119 | 123 | 155 | 174 | 218 | 240 | 250 | 275 | 305 | |
Total Liabilities | 321 | 397 | 485 | 601 | 637 | 716 | 799 | 839 | 1,006 | 1,161 | 1,283 | 1,568 |
183 | 228 | 282 | 365 | 358 | 418 | 452 | 448 | 504 | 496 | 606 | 709 | |
CWIP | 4 | 2 | 9 | 4 | 6 | 0 | 1 | 11 | 5 | 44 | 7 | 59 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 28 | 47 | 59 | 53 |
134 | 168 | 194 | 231 | 273 | 298 | 346 | 375 | 468 | 574 | 610 | 747 | |
Total Assets | 321 | 397 | 485 | 601 | 637 | 716 | 799 | 839 | 1,006 | 1,161 | 1,283 | 1,568 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
55 | 69 | 72 | 80 | 48 | 81 | 86 | 115 | 77 | 119 | 225 | 140 | |
-43 | -61 | -86 | -112 | -33 | -69 | -72 | -46 | -138 | -101 | -157 | -157 | |
-12 | -6 | 13 | 32 | -15 | -11 | -16 | -67 | 60 | -18 | -66 | 19 | |
Net Cash Flow | 0 | 2 | -1 | 0 | -0 | 2 | -2 | 3 | -1 | -1 | 3 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 68 | 60 | 60 | 61 | 69 | 66 | 66 | 72 | 78 | 74 | 84 | 96 |
Inventory Days | 76 | 76 | 76 | 109 | 98 | 92 | 94 | 101 | 98 | 96 | 82 | 77 |
Days Payable | 70 | 79 | 61 | 84 | 67 | 65 | 62 | 98 | 88 | 66 | 74 | 78 |
Cash Conversion Cycle | 75 | 58 | 74 | 86 | 100 | 93 | 98 | 74 | 87 | 105 | 92 | 94 |
Working Capital Days | 38 | 28 | 34 | 48 | 59 | 56 | 64 | 73 | 83 | 88 | 85 | 93 |
ROCE % | 16% | 22% | 22% | 16% | 11% | 13% | 13% | 14% | 15% | 22% | 20% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
5 Jun - TCPL reports FY25 revenue Rs.1770 Cr (+15%), EBITDA Rs.293 Cr (+17%), new cylinder plant by Q3 FY26, targets carbon neutrality by 2040.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2 Jun - Audio recording of June 2, 2025 investor conference call available on company website.
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Dividend
2 Jun - Book closure from July 25-31, 2025 for AGM and dividend payment for FY 2024-25.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 31 May
- Announcement under Regulation 30 (LODR)-Investor Presentation 30 May
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Jun 2025Transcript PPT REC
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May 2025TranscriptNotesPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024TranscriptPPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Dec 2023Transcript PPT
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Nov 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Apr 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021TranscriptNotesPPT
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Feb 2021TranscriptPPT
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Aug 2020TranscriptPPT
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Aug 2020TranscriptPPT
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Jun 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Aug 2019TranscriptPPT
Business Overview:[1][2]
a) TCPL is India’s largest folding carton manufacturer and convertor of paperboard.
b) It produces sustainable packaging solutions for customers across industries.
c) It provides paperboard-based packaging solutions including folding cartons, printed
blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging.
d) The company has also ventured into the flexible packaging industry, with capability to produce printed cork-tipping paper, laminates,
sleeves, and wrap-around labels