TCPL Packaging Limited has informed the Exchange about Investor Presentation
November 14, 2025
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 at their Meeting held today, inter-alia considered and approved the Un-audited Financial Results of the Company (Standalone and Consolidated) for the quarter and half year ended September 30, 2025.
Attached is Earnings Presentation for Q2 & H1 FY2026. We request you to take the above on records in the interest of general public at large.
Thanking You
For TCPL Packaging Limited
Compliance Officer
Encl. As above
Q2 & H1 FY2026 Earnings Presentation
14 November 2025
Disclaimer
Certain statements and opinions with respect to the anticipated future performance of TCPL Packaging Limited in the presentation (“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.
2
Q2 FY26 - Key Financial Highlights Consolidated
Total Revenues (Rs. Cr.)
462.6
460.5
EBITDA (Rs. Cr.)
Cash Profit (Rs. Cr.)
76.9
69.4
63.7
58.9
Q2 FY25
Q2 FY26
Q2 FY25
Q2 FY26
Q2 FY25
Q2 FY26
Shift % (Y-o-Y)
Flat
Shift % (Y-o-Y)
-9.7%
Shift % (Y-o-Y)
-7.6%
Margins (%)
Margins (%)
16.6%
15.1%
13.8%
12.8%
3
Q2 FY26 - Key Financial Highlights Standalone
Total Revenues (Rs. Cr.)
EBITDA (Rs. Cr.)
Cash Profit (Rs. Cr.)
438.5
437.7
76.1
67.0
63.3
57.5
Q2 FY25
Q2 FY26
Q2 FY25
Q2 FY26
Q2 FY25
Q2 FY26
Shift % (Y-o-Y)
Flat
Shift % (Y-o-Y)
-12.0%
Shift % (Y-o-Y)
-9.1%
Margins (%)
Margins (%)
17.4%
15.3%
14.4%
13.1%
4
Management Message
Commenting on the performance for Q2 & H1 FY2026 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said:
“We reported steady topline performance amid a subdued demand environment. Consolidated revenue for Q2 FY26 stood at Rs. 461 crore, supported by our diversified portfolio and customer base. EBITDA margins were broadly stable on a similar revenue base, with the decline in PBT and PAT reflecting higher depreciation and interest costs.
The revision in GST slabs during the quarter resulted in short-term recalibration across parts of the trade channel, adding to the subdued demand environment. This transition has largely normalised, and we expect GST rationalisation to support improvement in the underlying demand.
Our newly commissioned Chennai Greenfield plant continues to ramp up well, supported by encouraging customer traction. The facility strengthens our presence in Southern India and enhances our capabilities in sustainable paperboard packaging. It remains on track to achieve optimal utilisation over the next few quarters.
We remain focused on driving operational excellence, expanding our product mix, and pursuing growth through diversification. With a strong financial position and disciplined investments, we are confident that our strategic priorities and prudent capital allocation will support steady progress and long-term value creation.”
5
Mr. Saket Kanoria
Managing Director
Consolidated P&L Statement
Particulars (Rs. crore)
Q2 FY26
Q2 FY25
Y-o-Y Change (%)
H1 FY26
H1 FY25
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
Exceptional Items
PBT after Exceptional Items
Tax expense
PAT
PAT Margin (%)
Cash Profit
EPS Diluted (Rs.)
452.1 8.3 460.5
271.2 46.2
73.6
69.4
15.1%
9.1
19.7
21.7
37.2
-
37.2
8.5
28.7
6.2%
58.9
455.5 7.2 462.6
262.5 42.3
81.0
76.9
16.6%
0.6
13.8
19.1
44.6
-
44.6
9.1
35.5
7.7%
63.7
31.56
39.05
-0.7% 16.4% -0.5%
3.3% 9.4%
-9.0%
-9.7%
-155 bps
1342.9%
42.1%
13.3%
-16.6%
-
-16.6%
-6.5%
-19.1%
-144 bps
-7.6%
-19.2%
870.4 14.8 885.2
507.7 92.0
143.4
142.0
16.0%
11.4
46.1
41.3
66.0
-
66.0
15.0
51.0
5.8%
107.3
56.09
854.1 14.1 868.2
489.3 83.3
147.3
148.3
17.1%
2.3
26.9
37.8
85.9
-
85.9
18.7
67.3
7.7%
123.7
73.91
1.9% 4.4% 2.0%
3.8% 10.5%
-2.7%
-4.2%
-104 bps
404.4%
71.5%
9.3%
-23.1%
-
-23.1%
-19.6%
-24.1%
-198 bps
-13.2%
-24.1%
6
Standalone P&L Statement
Particulars (Rs. crore)
Q2 FY26
Q2 FY25
Y-o-Y Change (%)
H1 FY26
H1 FY25
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
Exceptional Items
PBT after Exceptional Items
Tax expense
PAT
PAT Margin (%)
Cash Profit
EPS Diluted (Rs.)
429.8 7.9 437.7
264.8 43.5
62.4 67.0 15.3%
9.5
19.0
20.7
36.8
-
36.8
8.5
28.3
6.5%
57.5
431.6 6.9 438.5
253.5 39.4
69.6 76.1 17.4%
0.5
13.4
18.4
44.9
-
44.9
9.1
35.8
8.2%
63.3
31.13
39.35
-0.4% 15.7% -0.2%
4.5% 10.4%
-10.3% -12.0% -205 bps
1664.8%
42.5%
12.3%
-17.9%
-
-17.9%
-6.5%
-20.8%
-169 bps
-9.1%
-20.9%
833.1 14.1 847.2
495.9 86.5
126.5 138.3 16.3%
12.3
44.9
39.7
66.1
-
66.1
15.0
51.1
6.0%
105.7
56.12
815.6 13.6 829.1
475.2 77.7
130.8 145.4 17.5%
3.4
25.9
36.4
86.5
-
86.5
18.7
67.8
8.2%
122.9
74.46
2.1% 3.7% 2.2%
4.3% 11.3%
-3.3% -4.9% -121 bps
262.8%
73.2%
8.8%
-23.6%
-
-23.6%
-19.7%
-24.6%
-214 bps
-14.0%
-24.6%
7
Q2 FY26: Financial & Operational Discussions (Y-o-Y)
Total Revenues
On a Consolidated basis, Total Revenue stood flat at Rs. 460.5 crore as against Rs. 462.6 crore
• Overall performance was supported by a diversified portfolio and customer base, which helped moderate the impact of softer domestic
demand and trade recalibrations following GST slab revisions
• A well-diversified business mix across paperboard and flexible packaging contributed to operational stability during the quarter, even as the
industry navigated short-term adjustments arising from the GST transition
EBITDA
On a Consolidated basis, EBITDA stood at Rs. 69.4 crore, translating to EBITDA margins of 15.1%
• Margins remained stable on a similar revenue base
Cash Profit After Tax
On a Consolidated basis, Cash PAT came in at Rs. 58.9 crore, with Cash PAT Margins at 12.8%
• Depreciation and finance costs rose during the quarter, affecting profitability as topline remained at similar levels
8
Balance Sheet Snapshot – Consolidated
Net-worth
Capital Employed
Rs. 669.3 Crore
Rs. 1,300.7 Crore
Fixed Assets (Gross)
Cash & Investments
Rs. 1,248.9 Crore
Rs. 15.4 Crore
Net Debt
Net Working Capital Days
Rs. 616.0 Crore
106 Days
Note: As on 30th September 2025
9
Annexure
10
Conference Call Details
Q2 & H1 FY2026 Earnings Conference Call
Time
Pre-registration
4:00 PM IST on Monday, November 17, 2025
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
11
About Us
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 with customers to provide paperboard-based packaging 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.
India, TCPL has a PAN India presence with 9 state-of-the-art manufacturing facilities and Headquartered in Mumbai, 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
Anoop Poojari / Jenny Rose Kunnappally
CDR India
Tel: +91 98330 90434 / 86899 72124
Email: vivek.dave@tcpl.in / investors@tcpl.in
Email: anoop@cdr-india.com / jenny@cdr-india.com
12
Thank You