TCPL Packaging Ltd

Q2FY23 Quarterly Result Announced for TCPL Packaging Ltd.

Paper & paper products company TCPL Packaging announced Q2FY23 results:

• Q2 FY23 (Consolidated):
  • Total Revenues stood at Rs. 361.7 crore, up 43%
  • EBITDA stood at Rs. 57.5 crore, with margins at 16%
  • Cash Profit improved by 131% to Rs. 65.8 crore

Commenting on the performance for Q2 & H1 FY2023 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “TCPL has shown solid resilience and achieved yet another quarter of strong performance amidst a challenging operating environment. Our consolidated revenues grew by 43% YoY to Rs. 361.7 crore on the back of higher volumes and better realizations. In addition, we witnessed stability in our key raw materials, which enabled us to register robust profitability during the quarter. EBITDA improved by 60% YoY to Rs. 57.5 crore in Q2, translating into healthy margins of 16%.

With our COPPL acquisition, the Company has entered the high-potential rigid box segment and is catering to several fast-growing end-user electronic industries. This is in-line with our growth through diversification strategy and strengthens our long-term growth prospects. I am pleased to share that we have successfully onboarded a number of customers in this segment and look forward to enhancing our business with them in the coming quarters.

Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries. We believe TCPL is well poised to capitalize on the rising demand on the back of our expertise to design, develop, and deliver sustainable packaging solutions for leading brands.”

Result PDF