TCPL Packaging Limited has informed the Exchange about Investor Presentation
07.02.2022
The Bombay Stock Exchange Ltd Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Security Code:-523301
The National Stock Exchange of India Ltd
Exchange Plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra East, Mumbai 400 051 Trading Symbol:- TCPLPACK
Dear Sir(s),
Re:- Earnings Presentation
We wish to inform you that Board of Directors of the company in their Meeting held on 07.02.2022, inter-alia considered and approved the Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter / nine months ended 31.12.2021.
Attached is Earnings Presentation for Q3 & 9M FY 22. We request you to take the above on your records in the interest of general public at large.
Thanking You
For TCPL Packaging Limited
Compliance Officer
Encl. As above
07 February 2022
Certain statements and opinions with respect to the anticipated future in the presentation performance of TCPL Packaging Limited (TCPL) (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Such forward-looking statements involve several risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward- looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Such forward-looking statements only speak as at the date the presentation is provided to the recipient and TCPL is not under any obligation to update or revise such forward-looking statements to reflect new events or circumstances. No representation or warranty (whether express or implied) is given in respect of any information in this presentation or that this presentation is suitable for the recipient’s purposes. The delivery of this presentation does not imply that the information herein is correct as at any time after the date hereof and TCPL has no obligation whatsoever to update any of the information or the conclusions contained herein or to correct any inaccuracies which may become apparent after the date hereof.
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TCPL – One of India’s leading producers of sustainable packaging solutions for customers across industries
31
YEARS
906
(RS. CRORE)
99
(RS. CRORE)
17.7%
8
~1,900
Of proving an array of packaging solutions
Revenue (FY21)
Cash Profit* (FY21)
15 years Revenue CAGR (FY07 to FY21)
Manufacturing units
Employees (FY21)
*Note – Calculation for Cash Profit = PBT + Depreciation
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One of India’s largest Folding Carton manufacturers and convertors of paperboard
Innovative player in the Flexible packaging industry
Close-to-Demand Pan-India Footprint to fast-track growth
Caters to Consumer Goods, Food & Beverage, Tobacco, Liquor, Agro-Chemicals, Pharma, and various other industries
Accredited with international certifications of quality and implemented Integrated Management System (IMS) for all- round quality assurance
Revenue Mix (FY21)
~85%
~15%
Folding Cartons
Flexible Packaging
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One of India's leading Carton Packaging companies since 1990s driven by adoption of industry- leading technology
Offers wide-range of innovative, sustainable & unique packaging solutions
Well-positioned to support diverse customer requirements with PAN India presence and network
MONOCARTONS
SPECIALTY & GIFT PACKAGING
SHELF READY PACKS
FOOD & BEVERAGES PACKAGING
PHARMA PACKAGING
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Innovative player providing versatile and sustainable solutions to customers across industry verticals
Offers a variety of products including Pouches, Laminates, Shrink Sleeves, and Wrap Around Labels
POUCHES
SHRINK SLEEVES
WRAP AROUND LABELS
LAMINATES
TIPPING PAPER
BUNDLE PAPER, INNER FRAMES & SOFT PACKS
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Developing creative solutions by a dedicated team with proven capabilities
Equipped with latest state-of- the-art machines
Several technical collaborations to ensure efficiency & productivity
Operates multiple manufacturing units
Vast market network across India and Oversees
Consistent investment in sustainable packaging solutions
Long-term connect with marquee clients spanning over 31 years
Deep-rooted Relationships
Innovative Products
Advanced Technology
Wide-spread Presence
Sustainability
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Close-to-demand strategy has enabled TCPL to emerge as one of India’s leading sustainable packaging solution providers
Headquartered in Mumbai,
TCPL operates 8 manufacturing
units across 5 locations & has
marketing offices in key metro
cities
Note: Silvasa and Haridwar have 3 & 2 manufacturing units, respectively
*Haridwar
Delhi
Noida
*Silvassa
Mumbai
Goa
Bangalore
Guwahati
Kolkata
Production Production
Sales & Business Support
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Electronics, Pharma & Others
G C M F
FMCG
Liquor
“Enables leading companies across industries identify the right packaging solutions”
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Food & Beverages
Scale Improving consolidation in a largely unorganized industry
Pan-India Presence Close-to-demand strategy to drive growth
Sustainable Packaging Solutions Emerging as a major growth opportunity
Partnership with Customers Leverage existing relationship to gain higher wallet share
Investment in New Technologies Leveraging latest technology to expand market opportunity
Diversification Focused approach towards growth through diversification
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Total Revenues (Rs. Cr.)
274.1
242.8
EBITDA (Rs. Cr.)
Cash Profit (Rs. Cr.)
37.8
41.6
34.8
29.0
Q3 FY21
Q3 FY22
Q3 FY21
Q3 FY22
Q3 FY21
Q3 FY22
Shift % (Y-o-Y)
12.9%
Shift % (Y-o-Y)
10.0%
Shift % (Y-o-Y)
20.0%
Margins (%)
Margins (%)
15.6%
15.2%
11.9%
12.7%
Note: Standalone figures
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Total Revenues (Rs. Cr.)
753.2
EBITDA (Rs. Cr.)
Cash Profit (Rs. Cr.)
108.1
86.1
657.4
98.5
71.3
9M FY21
9M FY22
9M FY21
9M FY22
9M FY21
9M FY22
Shift % (Y-o-Y)
14.6%
Shift % (Y-o-Y)
9.7%
Margins (%)
Shift % (Y-o-Y)
20.7%
Margins (%)
15.0%
14.3%
10.8%
11.4%
Note: Standalone figures
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Successfully completes acquisition of Creative Offset Printers Private Limited (COPPL)
Completes the acquisition of 60% stake in COPPL during the quarter
In addition, TCPL has invested in the Rights Issue of the Company and has been allotted 2,12,405 partly paid-up equity shares, aggregating to Rs. 12 crore
o
Post allotment of shares, TCPL will hold 80.31% in COPPL
Significantly strengthens TCPL’s diverse portfolio with the foray into the high-potential rigid boxes space targeting the growing smartphone & electronics industry
With the manufacturing plants of both companies in close proximity, TCPL expects to drive various synergies including rationalization and optimization of various costs
Update on expansion
Second manufacturing line in the Flexible Packaging segment is on track to be operational soon
o
This will effectively double the segment’s capacity
On track to establish one of the world's first state-of-the-art innovative Polyethylene (PE) blown film line at Silvassa
o Based on eco-friendly Machine-Direction Orientation (MDO) technology, the film line is expected to drive demand for the Company’s Flexible Packaging segment given growing customer preference for sustainable & recyclable solutions
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Commenting on the performance for Q3 & 9M FY22 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said
“We have delivered a healthy performance during the period under review despite the ongoing macro-economic and operating challenges. In 9M FY22, our topline expanded by 14.6% on a year-over-year basis and Cash Profits improved by 20.7% demonstrating the resilience of our business model. While the effect of rising input prices on gross margin continues, we have been able to largely limit the impact on overall profitability by taking adequate price hikes.
Following the successful acquisition of 60% in Creative Offset Printers Private Limited (COPPL), we have further invested in the Company’s Right Issue to increase our stake to 80% post allotment of shares. We remain very excited about our entry into the high- potential rigid box segment to target one of the fastest-growing smartphone markets in the world. We believe we can exponentially grow COPPL over the next two years by leveraging our scale and institutional capabilities in a largely unorganized industry.
Our expansion plans in the flexible division are on course to be completed soon. This combined with revival in demand should enable us to report strong performance in the upcoming fiscal.”
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About Creative Offset Printer Private Limited (COPPL)
Acquisition Details
Incorporated in 2002, COPPL was started by Mr. Rohit Khanna & Ms. Gazal Dhillon
TCPL acquired a majority stake (60% equity stake) in COPPL as of December 2021
Core business is manufacturing of rigid packaging boxes
Further invested in COPPL’s Right Issue to increase stake to 80% post allotment of shares
Strategically located at Noida, COPPL’s production facility is well-equipped to mobile target manufacturing hub
largest
India’s
Associated with major mobile firms operating in Noida including Samsung & supplies various types of mobile boxes
Taps high potential focused on one of smartphone markets in the world
rigid boxes segment the fastest growing
Diversifies product offering & strengthens position as a leading producer of sustainable for customers across packaging solutions industries
Since both companies have production facilities in close proximity, TCPL aims to capitalize from key synergies, like cost rationalization & optimization
Haridwar
Delhi
Noida
COPPL’s Manufacturing facility
Production Production
Sales & Business Support
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Indian Smart phone market
• One of
the fastest growing markets for smartphones in the World with high value add
• Over the years, Indian Smartphone shipment has grown tenfold, exceeding markets such as North America, Latin America, and Africa
• India is
the world’s 2nd largest mobile manufacturing country, and is vying for the top spot by attracting global giants with production-linked incentives (PLI)
for
o This bodes well
the rigid box manufacturing business, which caters to the mobile industry for not only the Indian market but for exports as well
Indian Smartphone Shipment (Million)
173
150
2011 to 2020 CAGR: ~26%
14.5
2011
Source: Statista 2021
2020
2021 F
High potential rigid packaging segment: To tap one of the fastest growing smartphone markets in the world
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Particulars (Rs. crore)
Q3 FY22 Q3 FY21
Y-o-Y Change (%)
9M FY22
9M FY21
Y-o-Y Change (%)
Revenues from Operations
Other Operating Income
Total Revenues
Total Expenditure
•
•
•
Raw Material expenses
Employee benefits expense
Other expenses
EBITDA
EBITDA Margin (%)
Other Income
Finance Costs
Depreciation and Amortization
PBT
Tax expense
PAT
PAT Margin (%)
Cash Profit
EPS Diluted (Rs.)
269.2
237.5
4.9
5.3
274.1
242.8
164.2
24.9
43.5
41.6
136.5
23.5
45.0
37.8
15.2%
15.6%
1.5
8.4
14.2
20.6
6.5
14.1
5.1%
34.8
15.44
0.8
9.7
13.0
16.0
6.0
9.9
4.1%
29.0
10.94
13.3%
-8.1%
12.9%
20.3%
5.8%
-3.4%
10.0%
-40 bps
88.9%
-13.6%
9.3%
28.8%
8.2%
41.3%
103 bps
20.1%
41.1%
739.8
13.4
753.2
451.6
73.9
119.6
108.1
14.3%
2.1
24.1
41.1
45.0
14.2
30.7
4.1%
86.1
33.78
643.2
14.3
657.4
369.9
67.5
121.5
98.5
15.0%
-6.3%
14.6%
22.1%
9.4%
-1.6%
9.7%
15.0%
-63 bps
1.8
29.0
38.6
32.7
11.6
21.2
3.2%
71.3
23.24
15.1%
-16.9%
6.6%
37.3%
22.8%
45.2%
86 bps
20.7%
45.4%
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Total Revenues
Total Revenues stood at Rs. 274.1 crore as against Rs. 242.8 crore, higher by 12.9%
The Company deliver healthy performance on account of higher realizations and stable volumes during the quarter despite a challenging demand environment
EBITDA
EBITDA came in at Rs. 41.6 crore, with EBITDA Margins at 15.2%
Gross margins during the quarter were impacted owing to rising raw material and input costs. However, the impact on EBITDA margins was limited due to cost management and price hikes undertaken during the quarter
Cash Profit After Tax
Cash PAT came in stable at Rs. 34.8 crore, with Cash PAT Margins at 12.7%
PAT improved by 41.3% to Rs. 14.1 crore
Depreciation came in at Rs. 14.2 crore and finance cost stood at Rs. 8.4 crore during the quarter
20 20
Rs. 325.3 Crore
Rs. 746.6 Crore
Rs. 899.2 Crore
Net-worth
Capital Employed
Fixed Assets (Gross)
Rs. 4.4 Crore
Rs. 416.9 Crore
96 Days
Cash & Investments
Net Debt
Net Working Capital Days
Note: As on 31st December 2021
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Q3 & 9M FY2022 Earnings Conference Call
Time
• 2:30 p.m. IST on Thursday, February 10, 2021
Pre-registration
To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link:
Primary dial-in number
• + 91 22 6280 1141 / 7115 8042
• Hong Kong: 800 964 448
International Toll-Free
• Singapore: 800 101 2045
Number
• UK: 0 808 101 1573
• USA: 1 866 746 2133
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TCPL Packaging Limited (TCPL) (BSE: 523301, NSE: TCPLPACK), is one of India’s leading producers of sustainable packaging solutions for customers across industries. The Company partners to provide paperboard-based packaging with customers solutions including 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 capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels.
Headquartered in Mumbai, India, TCPL has a PAN India presence with 7 state-of-the-art manufacturing facilities and marketing offices in key metro cities. Over the years, the Company has effectively diversified and broadened its operations to service a wide range of packaging products, while consistently adding new customers and increasing its share of business in established customers and markets.
For further information, please contact:
Vivek Dave
TCPL Packaging Limited
Tel: +91 70454 57686
Email: vivek.dave@tcpl.in / investors@tcpl.in
Anoop Poojari / Jenny Rose
CDR India
Tel: +91 98330 90434 / 86899 72124
Email: anoop@cdr-india.com / jenny@cdr-india.com
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