Financial Performance Highlights (Consolidated)

Q2 FY27 Performance:

  • Total Income: ₹564.6 crore, up 20.2% YoY (from ₹469.6 crore in Q2 FY26)
  • EBITDA (Incl. Other Income): ₹100.1 crore, up 27.5% YoY (from ₹78.5 crore)
  • EBITDA Margin: 17.7%, expanded by 101 bps from 16.7% in Q2 FY26
  • Profit Before Tax: ₹61.8 crore, up 66.0% YoY (from ₹37.2 crore)
  • Profit After Tax: ₹45.3 crore, up 57.7% YoY (from ₹28.7 crore)
  • Cash Profit: ₹84.9 crore, up 44.2% YoY (from ₹58.9 crore)
  • EPS: ₹49.8, up 57.7% YoY (from ₹31.6)

H1 FY27 Performance:

  • Total Income: ₹1,059.5 crore, up 18.2% YoY (from ₹896.6 crore in H1 FY26)
  • EBITDA (Incl. Other Income): ₹188.0 crore, up 22.5% YoY (from ₹153.4 crore)
  • EBITDA Margin: 17.7%, expanded by 63 bps from 17.1% in H1 FY26
  • Profit Before Tax: ₹114.5 crore, up 73.3% YoY (from ₹66.0 crore)
  • Profit After Tax: ₹85.3 crore, up 67.2% YoY (from ₹51.0 crore)
  • Cash Profit: ₹160.5 crore, up 49.5% YoY (from ₹107.3 crore)
  • EPS: ₹93.7, up 67.1% YoY (from ₹56.1)

Standalone Performance Comparison

Q2 FY27 Standalone:

  • Total Income: ₹544.1 crore, up 21.7% YoY
  • EBITDA: ₹98.4 crore, up 28.5% YoY
  • EBITDA Margin: 18.1%, expanded by 97 bps
  • PAT: ₹45.1 crore, up 59.1% YoY

H1 FY27 Standalone:

  • Total Income: ₹1,020.9 crore, up 18.8% YoY
  • EBITDA: ₹182.4 crore, up 21.1% YoY
  • EBITDA Margin: 17.9%, expanded by 34 bps
  • PAT: ₹82.7 crore, up 62.0% YoY

Management Commentary

Mr. Saket Kanoria, Managing Director, commented on the performance:

  • Achieved milestone of crossing ₹500 crore quarterly total income and ₹100 crore EBITDA for the first time
  • Growth momentum remains strong across both paperboard and flexible packaging segments
  • Operating environment remains challenging due to cost pressures (raw material and logistics expenses)
  • Margin improvement achieved through pricing actions, operational efficiencies, and cost optimization initiatives
  • Positive outlook on growth opportunities across businesses

Strategic Developments

Incorporation of Subsidiary:

  • TCPL Energy Materials Limited (TEML) incorporated on September 24, 2026 as wholly owned subsidiary
  • Initial authorized share capital: ₹10 crore
  • 100% ownership by TCPL Packaging Limited
  • Business focus: Manufacturing lithium-ion battery separator films for EVs, grid-scale energy storage and other applications
  • Project in initial stages with focus on establishing manufacturing infrastructure and building capabilities

Awards & Accolades

PrintWeek Awards 2026:

  • 'Packaging Converter (F&B) of the Year'

India Star Awards 2026:

  • Four awards in Folding Carton category:
  • Colgate Total 150g
  • Bicota 5 Kg Pouch
  • Nestlé Milky Bar Choo Pouch
  • Nestlé KitKat Valentine Heart-Shaped Pack

IFCA Awards 2026:

  • Six awards across Folding Cartons and Flexible Packaging categories:
  • Folding Carton Category:
  • Dove Damage Therapy Pack of 5
  • Nykaa Kay Luxe Face Palette
  • Indica Xpress Crème Natural Black Colour
  • Mars Galaxy Smooth Milk
  • Flexible Packaging Category:
  • Daawat Golden Basmati Rice 5 kg Flat Bottom Pouch
  • Accelerate Whey Protein Flat Bottom Pouch