As of 6 Nov 2026, TCPL Packaging trades at 34.9× trailing earnings, above the industry P/E of 18.1×. It earns ROCE of 18% and ROE of 14%, and sales grew 7.3% a year over 3 years while net profit fell 4.2%. Its dividend yield is 0.6%, and debt is 0.88× equity. It is a small-cap company with a market cap of ₹4,024 Cr, ranked 5th of 83 Packaging & Containers companies by market cap; the shares rose 38% over the past year.
- ₹4,525.00
- ₹4,719.00
- ₹4,410.90
- ₹4,558.60
- 26.1K
Health check
- ReturnsAhead
+37.9% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 34.9 vs industry 18.1.
- GrowthSteady
Sales +7.3%, profit −4.2% a year over 3 years.
- ProfitabilityAverage
ROCE 18.3% vs peer median 16.0%.
- Balance sheetFair
Debt 0.88× equity, interest covered 3.5×, Piotroski 7 of 9.
- Red flags1 to check
P/E of 34.9 against an industry P/E of 18.1.
Small cap
Defensive
Key metrics
- Market cap
- ₹4,024 Cr
- Small cap
- P/E
- 34.9
- Industry 18.1
- Price to book
- 5.61
- Peers 2.06
- Dividend yield
- 0.55%
- ROE
- 14.4%
- Peers 13.4%
- ROCE
- 18.3%
- Peers 16.0%
- Debt to equity
- 0.88
- Debt ₹634 Cr
- EPS (TTM)
- ₹126.91
- Face value ₹10
- OPM (TTM)
- 16.4%
- Net margin 6.1%
- Sales growth
- +16.1%
- Latest quarter vs a year ago
- Profit growth
- +79.3%
- Latest quarter vs a year ago
- Price to sales
- 2.14
- EV/EBITDA 15.3
Strengths and risks
Strengths
- Quarterly profit up 79.3% on a year ago.
- Quarterly sales up 16.1% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 34.9 against an industry P/E of 18.1.
About TCPL Packaging
TCPL Packaging Limited manufactures and sells paperboard-based packaging, flexible packaging, rigid boxes, and gravure printing cylinders in India. The company offers folding cartons, printed blanks and outers, litho-laminated cartons, shaped cartons, metallized paperboard cartons, coated food packaging, and secure document envelope cartons; flexible packaging products, such as printed laminates, pouches, wrap-around labels, and shrink sleeves; MDO…
- Headquarters
- Mumbai
- Employees
- 2,708
- Sector
- Consumer Cyclical
- ISIN
- INE822C01015
- Website
- tcpl.in
Price range
- Avg volume (3M)
- 22.5K
- 1-year return
- plus 37.9%
- From 52-week high
- minus 6.1%
Peers · Packaging & Containers
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIMETECHNOTime Technoplast | 170.65 | minus 1.98% | 8,424 | 15.9 | 2.06 | 15.3% | 13.4% | 10.3% | 12.5% | 28.9% | 0.86% | minus 17.5% |
| EPLEPL | 221.31 | minus 3.61% | 7,101 | 18.1 | 2.26 | 16.7% | 14.9% | 19.8% | 8.5% | 19.7% | 2.26% | plus 13.4% |
| AGIAGI Greenpac | 645.55 | minus 3.31% | 4,177 | 11.8 | 1.65 | 18.2% | 14.9% | 22.0% | 5.5% | 10.4% | 1.08% | minus 18.3% |
| UFLEXUFLEX | 575.30 | minus 2.13% | 4,154 | 6.1 | 0.51 | 7.5% | 4.1% | 14.0% | 1.4% | −12.9% | 0.52% | plus 9.1% |
| TCPLPACKTCPL Packaging | 4,431.10 | minus 2.80% | 4,024 | 34.9 | 5.61 | 18.3% | 14.4% | 12.8% | 7.3% | −4.2% | 0.55% | plus 37.9% |
| JINDALPOLYJindal Poly Films | 697.50 | minus 0.11% | 3,054 | – | 1.00 | −18.2% | −29.9% | −36.5% | −15.6% | – | 0.00% | plus 25.0% |
| KNACKKnack Packaging | 199.71 | plus 1.42% | 2,444 | 21.6 | 3.34 | 38.3% | 35.5% | 17.8% | 16.6% | 67.1% | 0.00% | plus 9.1% |
| MOLDTKPACMold-Tek Packaging | 340.15 | minus 0.54% | 2,261 | 27.7 | 3.06 | – | 11.6% | 12.0% | – | – | 0.88% | minus 2.3% |
| Median of 7 peers | – | −1.98% | 4,154 | 17.0 | 2.06 | 16.0% | 13.4% | 14.0% | 7.0% | 19.7% | 0.86% | 9.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 425 | 452 | 465 | 454 | 493 | |
| 352 | 383 | 384 | 384 | 407 | |
| 72.6 | 69.4 | 81 | 69.3 | 85.9 | |
| 17.1% | 15.4% | 17.4% | 15.3% | 17.4% | |
| 2.3 | 9.1 | 2.6 | 11.4 | 2 | |
| 26.4 | 19.7 | 15.5 | 17.8 | 12.3 | |
| 19.6 | 21.7 | 21.4 | 20.5 | 22.9 | |
| – | – | −11.6 | −2.2 | – | |
| 28.9 | 37.2 | 35.1 | 40.2 | 52.7 | |
| 22.6% | 22.8% | 28.6% | 46.0% | 24.1% | |
| 22.3 | 28.7 | 25 | 21.7 | 40 | |
| 24.52 | 31.56 | 27.52 | 23.87 | 43.96 |
Profit & loss
- Sales CAGR 3Y
- +7.3%
- Profit CAGR 3Y
- −4.2%
- EPS CAGR 3Y
- −4.2%
- ROE
- 14.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,442 | 1,513 | 1,743 | 1,782 | |
| – | +4.9% | +15.2% | +2.3% | |
| 1,205 | 1,260 | 1,440 | 1,479 | |
| 237 | 252 | 302 | 303 | |
| 16.5% | 16.7% | 17.4% | 17.0% | |
| 3.7 | 6.3 | 0.7 | −7.7 | |
| 43.3 | 52.4 | 54.8 | 57.5 | |
| 63.9 | 71.6 | 75.5 | 83.3 | |
| 17.7 | −0.1 | 0.8 | −13.3 | |
| 152 | 135 | 174 | 141 | |
| 27.1% | 26.1% | 17.7% | 30.8% | |
| 111 | 99.4 | 143 | 97.8 | |
| – | minus 10.5% | +43.9% | minus 31.6% | |
| 122.05 | 109.22 | 157.16 | 107.47 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9.1 | 9.1 | 9.1 | 9.1 | |
| 433 | 514 | 635 | 710 | |
| 501 | 504 | 651 | 634 | |
| 275 | 299 | 317 | 363 | |
| 1,218 | 1,326 | 1,612 | 1,716 | |
| 627 | 692 | 839 | 894 | |
| 53.3 | 7.4 | 78.1 | 17.6 | |
| 0.4 | 0.6 | 1.5 | 1 | |
| 5.5 | 21.8 | 17.2 | 17.7 | |
| 532 | 603 | 676 | 786 | |
| 1,218 | 1,326 | 1,612 | 1,716 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 109 | 234 | 133 | 271 | |
| −90 | −157 | −150 | −141 | |
| −21.7 | −76.1 | 17.7 | −127 | |
| −2.3 | 1.4 | 1 | 2.9 | |
| −99.9 | −146 | −159 | −154 | |
| 9.4 | 88.1 | −26.5 | 118 | |
| −9.1 | −18.2 | −20 | −27.3 |
Shareholding pattern
- Promoters55.74%
- Public44.06%
- Employee trusts0.20%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 55.74% | 44.06% | 0.00 | |
| 30 Jun 2026 | 55.74% | 44.06% | 0.00 | |
| 31 Mar 2026 | 55.74% | 44.05% | 0.00 | |
| 31 Dec 2025 | 55.74% | 44.05% | 0.00 | |
| 30 Sep 2025 | 55.74% | 44.04% | – |
Major shareholders
Filings & events
News
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