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TCPL Packaging Overview

TCPL Packaging Ltd is engaged inside the manufacture of paper and paper merchandise which is a manufacturer of printed packaging material. It operates through Packaging and Printing section. The Company manufactures litho lamination, plastic cartons, folding cartons, blister packs, and shelf ready packaging. It is a converter of paperboard. The Company is likewise engaged in the flexible packaging. It produces printed cork-tipping paper, laminates, sleeves and wrap-round labels. The Company offers blanks and outers to the worldwide tobacco comp...Read More

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TCPL Packaging Key Financials

Market Cap ₹2250 Cr.

Stock P/E 15.7

P/B 3.2

Current Price ₹2472.8

Book Value ₹ 763

Face Value 10

52W High ₹4909.6

Dividend Yield 1.21%

52W Low ₹ 2435.9

TCPL Packaging Share Price

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Volume
Price

TCPL Packaging Quarterly Price

Show Value Show %

TCPL Packaging Peer Comparison

TCPL Packaging Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 406 364 401 406 463 480 422 425 460 471
Other Income 3 7 1 2 1 12 4 2 9 3
Total Income 409 370 401 407 463 492 426 427 470 474
Total Expenditure 341 309 330 334 386 409 350 352 391 390
Operating Profit 68 61 71 73 78 83 76 75 79 84
Interest 13 15 14 13 14 15 18 26 20 15
Depreciation 18 18 19 19 19 19 18 20 22 21
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -12
Profit Before Tax 37 28 38 41 45 48 39 29 37 35
Provision for Tax 8 9 9 10 9 11 1 7 8 10
Profit After Tax 28 19 29 32 36 38 38 22 29 25
Adjustments 0 -0 0 -0 -0 -0 0 0 0 -0
Profit After Adjustments 28 19 29 32 36 38 38 22 29 25
Adjusted Earnings Per Share 31.2 20.4 31.5 34.9 39 41.5 41.8 24.5 31.6 27.5

TCPL Packaging Profit & Loss

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 904 1086 1475 1541 1770 1778
Other Income 3 4 10 11 14 18
Total Income 906 1089 1485 1552 1785 1797
Total Expenditure 770 931 1239 1290 1477 1483
Operating Profit 136 158 246 262 307 314
Interest 37 34 48 56 58 79
Depreciation 51 56 64 72 75 81
Exceptional Income / Expenses 0 0 17 0 0 -12
Profit Before Tax 47 68 152 135 174 140
Provision for Tax 14 21 41 35 31 26
Profit After Tax 33 47 110 99 143 114
Adjustments 0 0 1 0 0 0
Profit After Adjustments 33 47 111 99 143 114
Adjusted Earnings Per Share 36.8 52 122.1 109.2 157.2 125.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 18% 0% 0%
Operating Profit CAGR 17% 25% 0% 0%
PAT CAGR 44% 45% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -46% 25% 43% 17%
ROE Average 25% 24% 20% 20%
ROCE Average 21% 21% 18% 18%

TCPL Packaging Balance Sheet

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 300 340 442 523 644
Minority's Interest 0 2 2 0 0
Borrowings 132 209 193 225 261
Other Non-Current Liabilities 57 66 68 71 102
Total Current Liabilities 365 473 551 543 648
Total Liabilities 854 1090 1255 1362 1656
Fixed Assets 448 540 580 696 771
Other Non-Current Assets 29 71 65 22 98
Total Current Assets 377 478 611 644 787
Total Assets 854 1090 1255 1362 1656

TCPL Packaging Cash Flow

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 3 6 4 5
Cash Flow from Operating Activities 111 97 109 234 133
Cash Flow from Investing Activities -41 -195 -90 -157 -150
Cash Flow from Financing Activities -67 101 -22 -76 18
Net Cash Inflow / Outflow 3 3 -2 1 1
Closing Cash & Cash Equivalent 3 6 4 5 6

TCPL Packaging Ratios

# Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 36.78 52.03 122.05 109.22 157.16
CEPS(Rs) 93.38 112.97 191.62 187.87 240.12
DPS(Rs) 7.35 10 20 22 30
Book NAV/Share(Rs) 330.17 373.55 485.34 573.86 706.84
Core EBITDA Margin(%) 14.77 14.22 16.01 16.32 16.56
EBIT Margin(%) 9.35 9.4 13.5 12.36 13.1
Pre Tax Margin(%) 5.24 6.24 10.28 8.73 9.81
PAT Margin (%) 3.7 4.32 7.49 6.45 8.08
Cash Profit Margin (%) 9.4 9.47 11.82 11.09 12.34
ROA(%) 3.92 4.82 9.42 7.6 9.48
ROE(%) 11.14 14.64 28.26 20.62 24.54
ROCE(%) 14.02 14.67 23.16 19.62 20.67
Receivable days 71.55 68.05 64.73 75.81 83.26
Inventory Days 58.49 55.19 52.52 52.92 43.29
Payable days 98.3 85.68 67.52 70.8 71.76
PER(x) 11.81 13.87 11.55 20.4 28.95
Price/Book(x) 1.32 1.93 2.91 3.88 6.44
Dividend Yield(%) 1.69 1.39 1.42 0.99 0.66
EV/Net Sales(x) 0.76 1.01 1.2 1.62 2.66
EV/Core EBITDA(x) 5.08 6.93 7.18 9.51 15.32
Net Sales Growth(%) 0 20.13 35.84 4.51 14.85
EBIT Growth(%) 0 20.8 95.04 -4.29 21.71
PAT Growth(%) 0 40.02 135.63 -10 43.89
EPS Growth(%) 0 41.44 134.59 -10.51 43.89
Debt/Equity(x) 1.01 1.32 1.11 0.94 0.92
Current Ratio(x) 1.03 1.01 1.11 1.19 1.21
Quick Ratio(x) 0.64 0.62 0.67 0.81 0.88
Interest Cover(x) 2.27 2.97 4.19 3.4 3.98
Total Debt/Mcap(x) 0.76 0.68 0.38 0.24 0.14

TCPL Packaging Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 55.74 55.74 55.74 55.74 55.74 55.74 55.74 55.74 55.74 55.74
FII 0.71 0.74 0.8 0.78 0.93 0.92 1.18 0.94 0.92 0.96
DII 5.94 6.5 8 9.2 11.35 11.68 11.55 11.63 12.15 12.67
Public 37.62 37.03 35.46 34.28 31.98 31.67 31.54 31.69 31.19 30.63
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

TCPL Packaging News

TCPL Packaging Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 24%

Cons

  • Debtor days have increased from 70.8 to 71.76days.
  • Stock is trading at 3.2 times its book value.
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