1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Packaging & Containers
TCPL Packaging Limited

TCPL Packaging Limited

TCPLPACK.BO
TCPL Packaging LimitedIN flagBombay Stock Exchange
2,832.00
INR
-64.55
- -
25.59BMarket Cap
TCPL Packaging Limited
TCPLPACK.BO
(Bombay Stock Exchange)

Recent

price

2,832.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
293.96
328.32
429.07
453.93
572.23
681.16
685.01
759.42
874.84
956.34
974.02
1,170.74
1,584.84
1,662.4
1,945.39
1,989.28
1,966.17
Revenue per Share
7.69
8.93
15.52
14.37
37
44
37.32
22.58
31.82
40.13
36.78
52.03
122.05
109.22
157.16
107.47
107.47
Basic EPS, GAAP
-2.05
-21.2
-9.32
12.63
10.16
-15.4
-33.45
19.56
-10.08
26.14
61.01
-101.52
10.33
96.77
-29.07
149.21
- -
Free Cash Flow per Basic Share
1.71
1.7
2.32
3.1
2.92
7.22
8.85
6.07
3.7
5.25
4.16
7.35
10
20
22
30
- -
Dividend per Share
10.72
12.5
13.33
13.29
31.57
65.07
82
95.41
121.21
154.36
187.14
229.56
341.57
431.5
565.64
10
10
Book Value per Share
72.41
77.18
89.11
100.43
130.1
174.75
203.29
238.92
262.28
294.02
328.72
368.68
480.08
559.64
689.42
769.21
769.21
Tangible Book Value per Share
8
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
Basic Weighted Avg Shares
2,402
2,833
3,733
3,949
4,978
5,926
5,960
6,798
7,961
8,703
8,864
10,654
14,422
15,128
17,703
18,102
17,892
Sales/Revenue/Turnover
8.39
9.49
9.5
9.47
12.19
12.71
11.52
7.87
8.65
8.97
9.33
9.38
12.03
11.95
12.29
11.55
11.69
Operating Margin (%)
146
180
204
238
217
252
291
351
357
484
515
559
639
716
755
833
833
Depreciation Expense
63
77
135
125
322
383
325
202
290
365
335
473
1,111
994
1,430
978
978
Net Income, GAAP
35.11
32.38
33.61
36.63
25.21
30.69
29.77
25.43
30.54
13.64
29.3
30.83
27.14
26.15
17.66
30.81
30.81
Effective Tax Rate (%)
2.62
2.72
3.62
3.17
6.47
6.46
5.45
2.97
3.64
4.2
3.78
4.44
7.7
6.57
8.08
5.4
5.47
Profit Margin (%)
-47
-102
-150
-92
-141
-38
-137
84
-120
101
116
54
600
1,012
1,386
1,623
1,623
Working Capital
485
695
632
782
974
1,228
1,561
1,332
1,280
1,514
1,458
2,193
2,015
2,346
3,178
2,967
2,967
LT Debt
598
672
780
879
1,138
1,534
1,784
2,158
2,407
2,693
3,005
3,423
4,435
5,226
6,438
7,188
7,188
Total Equity
9.74
11.52
12.38
10.98
18.22
15.63
10.9
7.95
8.89
11.35
9.37
9.71
14.45
13.57
15.48
10.94
10.94
Return on Invested Capital (%)
14.6
7.39
10.49
15.87
26.18
21.57
13.83
9.93
11.15
13.98
11.44
12.01
19.25
16.15
18.52
16.88
16.88
Return on Capital (%)
69.72
78.83
120.64
107.98
164.96
91.07
50.75
25.8
29.59
29.13
21.54
24.97
42.74
28.26
31.52
37.34
37.34
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
3,761
- -
3,372
LT Borrowings
2,620
- -
2,439
LT Finance Leases
534
- -
529
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
9
- -
9
Market Capitalization
30,133
27,475
20,687

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
7,978
- -
7,927
Cash, Cash Equivalents & STI
154
- -
200
Accounts Receivable, Net
4,861
- -
4,600
Inventories
2,384
- -
2,429
Total Current Liabilities
6,868
- -
6,304
Payables & Accruals
- -
- -
- -
ST Debt
3,761
- -
3,372
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.84%
19.23%
11.65%
Free Cash Flow
-70.43%
-56.61%
-613.34%
Net Income, GAAP
18.59%
35.56%
-31.62%
Sales/Revenue/Turnover
12.26%
15.95%
2.26%
Total Cash Common Dividend
23.52%
51.81%
36.36%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,638
3,987
3,569
3,934
15,128
2025
3,986
4,555
4,723
4,224
17,703
2026
4,183
4,521
4,649
4,538
18,102

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
26.19
31.17
20.65
- -
109.22
2025
34.86
39.05
41.46
41.78
157.16
2026
24.52
31.56
27.52
23.87
107.47

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
20
2025
- -
- -
- -
- -
22
2026
- -
- -
- -
- -
30
Similar Companies
Arrow Greentech Limited (ARROWGREEN.BO)
Berry Global Group, Inc. (BERY)
Shandong Linuo Technical Glass Co.,Ltd. (301188.SZ)
SCG Packaging Public Company Limited (5Y7.F)
Guangdong Enpack Packaging Co., Ltd. (002846.SZ)
EPL Limited (EPL.BO)
Business
TCPL Packaging Limited TCPL Packaging Limited (TCPLPACK.BO), incorporated in 1987 and headquartered in Mumbai, India, stands as one of India's largest manufacturers of folding cartons and the largest standalone converter of paperboard. The company produces an extensive range of paperboard-based packaging solutions, including folding cartons, printed blanks and outers, litho-laminated cartons, plastic cartons, blister packs, shelf-ready packaging, and rigid boxes with specialty gift packaging; it also offers flexible packaging products such as laminates, shrink sleeves, wrap-around labels, pouches, and printed cork-tipping papers. TCPL serves diverse industries including tobacco, fast-moving consumer goods (FMCG), food and beverage, liquor, pharmaceuticals, consumer electronics, and others, with operations spanning multiple facilities in India such as Mumbai, Silvassa, and Haridwar, alongside exports to international markets. Promoted by the Kanoria family, TCPL traces its roots to a 1990 venture into folding cartons at its Silvassa unit and rebranded from Twenty First Century Printers Ltd in September 2008 to reflect its packaging focus. The company employs over 1,900 people and maintains a strong emphasis on sustainable packaging innovations, including investments in environmentally friendly technologies and a solar power system at its Haridwar plant. In recent developments, TCPL acquired a 100% stake in Accura Technik Private Limited in May 2025 to enhance internal gravure cylinder production and generate additional revenue, while investing Rs. 69 lakhs in October 2025 to acquire further equity in subsidiary Creative Offset Printers Private Limited. The company signed an exclusive manufacturing agreement with Ventit in January 2025 for innovative vented corrugated boxes targeting food delivery, announced plans for a greenfield facility near Chennai to expand pan-India presence, and installed a new Koenig & Bauer printing press at Haridwar in September 2023. TCPL continues to earn industry accolades, including six IFCA STAR Awards in October 2025 and the PrintWeek Packaging Converter of the Year (F&B) title, alongside inducting new independent directors such as Ashish Razdan in 2024 and others in 2023 to bolster governance.