TCPL Packaging Limited has informed the Exchange about Investor Presentation

12.08.2021

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 12.08.2021, inter-alia considered and approved the Un-audited Financial Results of the Company (Standalone and Consolidated) for the first quarter ended 30.06.2021.

Attached is Earnings Presentation for the first quarter ended 30.06.2021. 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

12 August 2021

Such

several

involve

forward-looking statements

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 risks, correct. 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%

7

~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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Liquor

Agrochemical, Pharma & Others

FMCG

Tobacco

“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.)

226.1

EBITDA (Rs. Cr.)

Cash Profit (Rs. Cr.)

30.4

22.8

169.5

23.5

13.9

Q1 FY21

Q1 FY22

Q1 FY21

Q1 FY22

Q1 FY21

Q1 FY22

Shift % (Y-o-Y)

33.4%

Shift % (Y-o-Y)

29.0%

Margins (%)

Shift % (Y-o-Y)

64.6%

Margins (%)

13.9%

13.4%

8.2%

10.1%

Note: Standalone figures

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TCPL in the process of commissioning second manufacturing line in the Flexible Packaging segment

Unit is expected to be commissioned this fiscal and will effectively more than double the segment’s capacity

The Company anticipates to ramp-up utilization levels at the facility over the next two years

TCPL Innofilms Private Limited, a wholly owned subsidiary of TCPL, is setting up a state-of-the- art innovative Polyethylene (PE) blown film line at Silvassa

State-of-the-art innovative facility is expected to be commissioned in this fiscal

Film based on Machine-Direction Orientation (MDO) technology will be environment friendly – anticipated to garner robust traction given recent consumer preference for sustainable and recyclable offerings

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Commenting on the performance for Q1 FY22 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said

“We have started the fiscal on a steady note despite the second wave of the COVID-19 pandemic impacting demand in the first quarter. During the quarter, we registered a total revenue growth of 33% YoY, largely aided by lower base in the corresponding period last year. While I am pleased to share that we are witnessing a month-on-month improvement and hope to see the trend continuing in the upcoming quarters, we remain cautious on account of the ongoing pandemic.

On the operational front, we are making healthy progress in establishing our second Flexible Packaging line that will more than double our existing capacity. This, along with our state-of-the-art innovative Polyethylene (PE) blown film unit is expected to be commissioned by the end of this year. Normalization in demand combined with our expansion plans should provide notable impetus to our growth plans from FY23 onwards.

Looking ahead, on the back of technological advancements in the packaging solutions industry, we believe that organized players like TCPL are well-positioned to tap the growing demand for sustainable packaging solutions from large Brands across various industries, including FMCG and Food & Beverages.”

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Particulars (Rs. crore)

Q1 FY22 Q1 FY21

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.)

222.9

3.2

226.1

136.1

23.9

35.7

30.4

165.9

3.7

169.5

94.5

22.5

29.1

23.5

Y-o-Y Change (%)

34.4%

-12.5%

33.4%

44.0%

6.6%

22.9%

29.0%

13.4%

13.9%

-50 bps

0.1

7.7

13.3

9.5

3.5

6.0

2.7%

22.8

6.61

0.3

9.9

12.8

1.1

0.4

0.7

0.4%

13.9

0.77

-48.0%

-22.5%

4.1%

801.9%

888.6%

758.6%

230 bps

64.6%

758.4%

FY21

886.4

17.5

903.8

523.1

90.3

156.7

133.7

14.8%

2.5

37.2

51.5

47.6

13.9

33.7

3.7%

99.1

37.08

FY20

870.3

19.5

889.8

520.5

87.1

156.3

126.0

14.2%

2.1

37.4

48.4

42.3

5.8

36.5

4.1%

90.7

40.13

Y-o-Y Change (%)

1.8%

-10.5%

1.6%

0.5%

3.7%

0.3%

6.1%

60 bps

20.4%

-0.6%

6.4%

12.6%

140.4%

-7.6%

-40 bps

9.3%

-7.6%

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Total Revenues

Total Revenues stood at Rs. 226.1 crore, higher by 33.4% YoY

Registered healthy revenue growth on a YoY basis owing to strong start to the quarter and last year’s low base

Performance in both Folding Carton and Flexible Packaging segments were impacted owing to the pandemic-induced restrictions during the first quarter

The Company is witnessing a month-on-month improvement in revenues and anticipates the trend to continue in the upcoming quarters

EBITDA

EBITDA came in at Rs. 30.4 crore, with EBITDA Margins at 13.4%

While the industry is facing inflation across key raw materials, the Company was able to take adequate prices hikes during the quarter leading to steady margin performance

Normalized demand along with stable outlook for key raw materials should assist the Company maintain EBITDA margins in a stable range going forward

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Cash Profit After Tax

Cash PAT stood at Rs. 22.8 crore, up 64.6% YoY

Depreciation came in at Rs. 13.3 crore and finance cost stood at Rs. 7.7 crore during the quarter

As the Company capitalizes new facilities in the upcoming quarters, absolute depreciation charge to P&L will increase. However, as the new units start contributing to performance, the additional charge as a percentage of revenues should reduce going forward

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Rs. 306.5 Crore

Rs. 696.9 Crore

Rs. 636.5 Crore

Net-worth

Capital Employed

Fixed Assets (Gross)

Rs. 2.3 Crore

Rs. 329.9 Crore

91 Days

Cash & Investments

Net Debt

Net Working Capital Days

Note: As on 30th June 2021

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Q1 FY2022 Earnings Conference Call

Time

• 3:00 p.m. IST on Thursday, August 19, 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

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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