Financial Performance Highlights (Consolidated)

Q1 FY2027 vs Q1 FY2026

  • Total Income: ₹494.9 crore, up 15.9% YoY (Q1 FY26: ₹427.0 crore)
  • EBITDA (Incl. Other Income): ₹87.9 crore, up 17.3% YoY (Q1 FY26: ₹74.9 crore)
  • EBITDA Margin: 17.8%, improved by 21 bps (Q1 FY26: 17.5%)
  • Profit Before Tax: ₹52.7 crore, up 82.6% YoY (Q1 FY26: ₹28.8 crore)
  • Profit After Tax: ₹40.0 crore, up 79.2% YoY (Q1 FY26: ₹22.3 crore)
  • Cash Profit: ₹75.6 crore, up 56.0% YoY (Q1 FY26: ₹48.5 crore)
  • EPS: ₹44.0, up 79.3% YoY (Q1 FY26: ₹24.5)

Financial Performance Highlights (Standalone)

Q1 FY2027 vs Q1 FY2026

  • Total Income: ₹476.8 crore, up 15.7% YoY (Q1 FY26: ₹412.2 crore)
  • EBITDA (Incl. Other Income): ₹84.0 crore, up 13.4% YoY (Q1 FY26: ₹74.1 crore)
  • EBITDA Margin: 17.6%, declined by 36 bps (Q1 FY26: 18.0%)
  • Profit Before Tax: ₹50.3 crore, up 71.8% YoY (Q1 FY26: ₹29.3 crore)
  • Profit After Tax: ₹37.6 crore, up 65.4% YoY (Q1 FY26: ₹22.8 crore)
  • Cash Profit: ₹72.3 crore, up 49.8% YoY (Q1 FY26: ₹48.3 crore)
  • EPS: ₹41.4, up 65.5% YoY (Q1 FY26: ₹25.0)

Full Year FY2026 Performance (Reference)

Consolidated FY2026 vs FY2025

  • Total Income: ₹1,835.6 crore, up 2.9% YoY (FY25: ₹1,784.6 crore)
  • EBITDA (Incl. Other Income): ₹317.7 crore, up 3.3% YoY (FY25: ₹307.4 crore)
  • EBITDA Margin: 17.3%, improved by 8 bps (FY25: 17.2%)
  • Profit Before Tax: ₹155.1 crore, down 10.7% YoY (FY25: ₹173.7 crore)
  • Profit After Tax: ₹97.8 crore, down 31.6% YoY (FY25: ₹143.0 crore)
  • Cash Profit: ₹224.6 crore, down 9.9% YoY (FY25: ₹249.2 crore)
  • EPS: ₹107.5, down 31.6% YoY (FY25: ₹157.2)

Management Commentary

Saket Kanoria, Chairman & Managing Director, stated that FY2027 commenced on a strong note with broad-based profitable growth. Revenue increased 16% YoY, EBITDA grew 17%, and cash profit increased 56%, reflecting healthy domestic demand, improved operating performance, and benefits of sustained investments. Both Folding Cartons and Flexible Packaging businesses performed exceptionally well, enabling market share gains across key segments.

Key Strategic Developments

Expansion of Flexible Packaging Capacity

  • Existing Flexible Packaging facility operating at optimal utilization levels
  • Adding a new manufacturing line to support continued growth and enhance capacity
  • Expansion will create headroom to address growing requirements from existing customers, pursue new business opportunities, and increase share of value-added products

Foray into Lithium-Ion Battery Separator Films

  • Strategic entry into Advanced Chemistry Cell (ACC) battery materials value chain through a new subsidiary proposed to be incorporated
  • Leverages Group's core competencies in specialised films, polymer processing, precision manufacturing, R&D, process control and quality assurance
  • Investment of approximately ₹125 crore to be deployed over next 18 months
  • Commercial production targeted for Q4 FY2028
  • Initial manufacturing capacity: 70 million sq. metres per annum, supporting 6-8 GWh of lithium-ion cell production annually
  • Long-term expansion plans: approximately 500 million sq. metres per annum (supporting ~50 GWh) over next 5-7 years, subject to customer demand and market developments
  • Positions TCPL Group to participate in India's rapidly growing EV and energy storage ecosystem while supporting domestic battery component manufacturing and reducing import dependence

Company Background

TCPL Packaging Limited (BSE: 523301, NSE: TCPLPACK) is one of India's leading producers of sustainable packaging solutions with 10 state-of-the-art manufacturing facilities and marketing offices in key metro cities. The company provides paperboard-based packaging solutions including folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging, and has ventured into flexible packaging with capability to produce laminates, sleeves, and wrap-around labels.