TCPL Packaging Ltd

TCPL Packaging Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

TCPL Packaging Ltd

₹ 3,285 1.98%
04 Dec 1:43 p.m.
tcpl.in BSE: 523301 NSE: TCPLPACK
About

TCPL manufactures folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. TCPL has also ventured into the flexible packaging industry, with the capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels.

TCPL Packaging is promoted by the Kanoria family, which has varied business interests such as jute, tea, textiles, pharmaceuticals, and chemicals. In 1990, the Kanoria family [1], which holds a 55.74% stake in the company as of September 30, 2020 [2] ventured into folding cartons manufacturing, with a unit in Silvassa. [1]. TCPL is a leading supplier to the tobacco, liquor, consumer goods, and food packaging industry in India [3].

Key Points

Revenue Mix FY23
Folding cartons: ~85%
Flexible packaging: ~15% [1]

Website BSE NSE
  • Market Cap ₹ 2,989 Cr.
  • Current Price ₹ 3,285
  • High / Low ₹ 3,671 / 1,902
  • Stock P/E 25.9
  • Book Value ₹ 626
  • Dividend Yield 0.69 %
  • ROCE 19.3 %
  • ROE 20.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 18.4%

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

Sector: Packaging Industry: Packaging

Part of BSE SmallCap BSE Allcap BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
253 276 330 342 362 378 393 371 406 364 401 406 463
217 235 283 288 304 318 329 310 341 309 330 334 386
Operating Profit 36 42 47 54 58 60 64 61 65 55 70 71 77
OPM % 14% 15% 14% 16% 16% 16% 16% 17% 16% 15% 18% 18% 17%
0 2 1 4 20 2 2 1 3 7 1 2 1
Interest 8 9 10 11 11 12 13 14 13 15 14 13 14
Depreciation 14 14 15 16 16 16 17 16 18 18 19 19 19
Profit before tax 15 20 23 32 50 34 36 32 37 28 38 41 45
Tax % 29% 32% 29% 29% 21% 29% 32% 26% 22% 31% 23% 23% 20%
11 14 16 22 40 24 24 24 28 19 29 32 36
EPS in Rs 11.65 15.24 18.57 24.98 43.48 26.88 26.71 26.13 31.21 21.14 31.90 34.86 39.05
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
890 904 1,086 1,475 1,541 1,632
764 770 931 1,239 1,290 1,359
Operating Profit 126 133 155 236 252 273
OPM % 14% 15% 14% 16% 16% 17%
2 3 3 27 10 9
Interest 37 37 34 48 56 56
Depreciation 48 52 56 64 72 75
Profit before tax 42 47 68 152 135 152
Tax % 14% 29% 31% 27% 25%
37 33 47 110 101 116
EPS in Rs 40.13 36.78 52.03 122.05 111.40 126.95
Dividend Payout % 10% 20% 19% 16% 20%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 19%
TTM: 5%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 45%
TTM: 15%
Stock Price CAGR
10 Years: 23%
5 Years: 65%
3 Years: 86%
1 Year: 40%
Return on Equity
10 Years: %
5 Years: %
3 Years: 20%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 9 9 9 9 9
Reserves 291 331 433 517 561
321 463 501 504 601
217 268 274 296 337
Total Liabilities 838 1,072 1,217 1,326 1,508
448 541 580 696 697
CWIP 11 48 44 7 28
Investments 0 0 0 0 0
379 482 593 623 782
Total Assets 838 1,072 1,217 1,326 1,508

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
111 97 109 234
-41 -195 -90 -157
-67 101 -22 -76
Net Cash Flow 3 3 -2 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 72 77 73 82
Inventory Days 101 102 99 85
Days Payable 98 93 67 75
Cash Conversion Cycle 74 86 106 92
Working Capital Days 73 80 87 82
ROCE % 14% 21% 19%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74% 55.74%
0.37% 0.42% 0.53% 0.80% 0.95% 0.69% 0.61% 0.71% 0.74% 0.80% 0.78% 0.93%
6.60% 5.73% 4.88% 3.37% 3.94% 3.99% 3.99% 5.94% 6.49% 8.01% 9.20% 11.35%
37.30% 38.12% 38.85% 40.10% 39.13% 39.34% 39.41% 37.37% 36.80% 35.22% 34.05% 31.75%
0.00% 0.00% 0.00% 0.00% 0.25% 0.25% 0.25% 0.25% 0.25% 0.24% 0.23% 0.23%
No. of Shareholders 9,95410,17312,59515,18917,65917,60018,12315,67415,68614,54514,08213,774

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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