TCPLPACKIndustrials

TCPL Packaging Limited

Packaging · ISIN INE822C01015 · BSE 523301 · NSE EQ · FV ₹10
Last price
₹3,863
+0.01%today
What this company does

TCPL Packaging Limited operates in Packaging, part of the Industrials sector. It booked ₹493 cr of revenue in its latest quarter (Q1 FY27) and kept 8.1% of sales as profit. It is the 4th largest of 9 Packaging companies we track, by market value.

Your Company is one of India’s leading producers of sustainable packaging solutions for customers across industries. The Company partners with customers to provide paperboard-based packaging products mainly folding cartons, printed blanks and outers and litho-laminated cartons. The Company also provides flexible packaging products such as laminates, pouches, wrap around labels and sleeves.
In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns79

How much profit it earns on the money it employs

Balance sheet32

How much it owes, and whether earnings cover the interest

Cash quality75

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation41

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 18% vs last year
Profit up 79% vs last year
Promoters hold 56%
No promoter shares pledged
Strong 22% return on equity
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in TCPLPACK?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹3,863 +0.01%
latest close · 2026-09-17
1-year return
+620.4%
52-wk low ₹48652-wk high ₹4,411
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio22.0Average
LowAverageHigh
P/B ratio4.89High
Below bookModerateHigh
EV / EBITDA11.6Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity22.3%Strong
WeakFairStrong ▸15%
Return on capital23.9%Strong
WeakFairStrong
Net margin8.1%Decent
ThinDecentStrong
EBITDA margin17.8%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.80Moderate
LowModerateHigh ▸1
Interest cover5.3×Strong
RiskyOkayStrong ▸5×
Current ratio1.26Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹3,516 cr
Book value
₹790
EPS
₹43.96
latest quarter
Net debt
₹565 cr
owes more than its cash
Enterprise value
₹4,081 cr
EBITDA
₹352 cr
annualised
EBIT
₹260 cr
annualised
Operating margin
13.2%
Return on assets
9.3%
Earnings yield
4.55%
P/S
1.78
Sales / share
₹2,166.9
Tax rate
24.1%
Face value
₹10
Shares
0.9 cr
Working capital
₹162 cr
Current assets
₹793 cr
Current liabilities
₹630 cr
Delivery %
48.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹859₹1,497, midpoint ₹1,135

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹493 cr
Other Income₹2 cr
Total Income₹495 cr
Cost of Materials₹281 cr
Purchases of Stock-in-Trade₹2 cr
Inventory Change (±)₹-6 cr
Employee Benefit Expense₹52 cr
Finance Costs₹12 cr
Depreciation & Amortisation₹23 cr
Other Expenses₹77 cr
Total Expenses₹442 cr
Profit before Tax₹53 cr
Tax Expense₹13 cr
Net Profit₹40 cr
Net margin on total income8.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹277 cr56.0%
Employee benefit expense₹52 cr10.6%
Finance costs₹12 cr2.5%
Depreciation & amortisation₹23 cr4.6%
Other expenses₹77 cr15.6%
Tax expense₹13 cr2.6%
Profit for the period₹40 cr8.1%
Total income ₹495 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue465 cr454 cr493 cr
Total income474 cr465 cr495 cr
Expenses427 cr423 cr442 cr
Profit before tax35 cr40 cr53 cr
Tax10 cr19 cr13 cr
Net profit (owners' share)25 cr22 cr40 cr
Net margin (owners' share, on revenue)5.4%4.8%8.1%
EPS (₹)27.5223.8743.96
YoY (latest quarter): total income +15.9% · net profit +79.3%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹1,716 cr
Shareholder equity
₹719 cr
parent shareholders
Total debt
₹575 cr
Cash
₹9 cr
Cash flow · H1 FY26
Operating
₹92 cr
Investing
₹-63 cr
Financing
₹-34 cr
Peer comparison
Packaging · by market value
CompanyPriceMarket capP/E
EPL Limited₹231₹7,416 cr18.8
AGI Greenpac Limited₹734₹4,747 cr11.9
UFLEX Limited₹653₹4,715 cr2.8
TCPL Packaging Limitedthis company₹3,863₹3,516 cr22.0
Polyplex Corporation Limited₹1,085₹3,406 cr9.4
Jindal Poly Films Limited₹726₹3,179 cr9.1
Xpro India Limited₹1,236₹2,901 cr91.4
COSMO FIRST LIMITED₹880₹2,310 cr10.6
Mold-Tek Packaging Limited₹662₹2,069 cr29.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.65%
trailing 12 months
Dividend / share (TTM)
₹25
Last dividend
₹25
ex 4 Aug 2026
ActionDetailEx-date
Dividend₹25 / share4 Aug 2026
Dividend₹30 / share24 Jul 2025
Dividend₹22 / share23 Jul 2024
Dividend₹20 / share28 Jul 2023
Dividend₹10 / share2 Aug 2022
Dividend₹7.35 / share18 Aug 2021
Who owns it · 2026-06-30
No pledge
Promoter
55.7%
FII / Foreign
1.0%
DII / Domestic
13.7%
Retail / others
29.4%
Smart-money activity
Insider trades
BoughtTCPL ESOP TRUST · Other22,400 · ₹2.6 cr30 Sep 22
BoughtRishav Kanoria · Promoter Group75031 May 22
BoughtSaket Kanoria · Promoters1,50031 May 22
Bulk / block deals
BoughtMNCL CAPITAL COMPOUNDER FUND 2 · NSE49,109 @ ₹3,098.321 Aug 24
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE54,378 @ ₹798.4221 Feb 22
SoldGRAVITON RESEARCH CAPITAL LLP · NSE54,378 @ ₹798.5421 Feb 22
Stake changes
SoldUrmila Kanoria · promoter→ 0.88% · 36,90029 Jun 26
BoughtNarmada Fintrade Private Ltd · promoter→ 21.40% · 36,90029 Jun 26
BoughtNarmada Fintrade Private Ltd · promoter→ 21.40% · 36,90029 Jun 26
Promoter pledges
ReleasedICICI Bank Ltd19.40 L · 21.32% held4 Jun 20
ReleasedICICI Bank Ltd18.86 L · 20.72% held4 Jun 20
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 11 Aug 2026
See the official result
1
Adoption of audited standalone and consolidated financial statements of the Company for the financial year ended 31st March 2026 and the Reports of the Board of Directors and the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
11.52 L votes for, 4 against · 0% of mutual funds and other big investors said no
2
Declaration of Dividend for the year ended 31st March 2026
Backed by 100% of shareholders other than promotersneeded 50%
11.52 L votes for, 4 against · 0% of mutual funds and other big investors said no
3
Appoint Director in place of Mr. Saket Kanoria (DIN: 00040801), who retires by rotation and being eligible, offers himself for re-appointment
Backed by 100% of shareholders other than promotersneeded 50%
11.52 L votes for, 930 against · 0% of mutual funds and other big investors said no
4
Appoint Director in place of Mr. Akshay Kanoria (DIN: 07289528), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
11.52 L votes for, 930 against · 0% of mutual funds and other big investors said no
6
Re-appointment of Mr. Vidur Kanoria, (Din 08709462) as Executive Director and fixing his term of appointment and remuneration thereof
⚑ Passed only because promoters voted yes
Backed by 43% of shareholders other than promotersneeded 75%
5.01 L votes for, 6.52 L against · 58% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 12 named members
owning 55.7% between them · as of 2026-06-30
Narmada Fintrade Private Limited21.40%
Accuraform Private Limited21.32%
Samridhi Holding Private Limited2.95%
Saubhagya Investors & Dealers Private Limited2.53%
Kahini Saket Kanoria2.19%
Akshay Kanoria1.26%
Rishav Kanoria1.26%
Vidur Kanoria1.26%
Business done with them
FY2026 · 1 of the group
The company paid ₹39.5 L to companies in the promoter group last year — about 0.0% of its ₹1,810 cr revenue.
Mr.Rishav Kanoria
Other payments to them · Sitting fees
also owns 1.26% of the company
₹39.5 L
company paid

The company also transacted with 5 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.