On 6 Nov 2026, TPL Plastech was priced at ₹67.80, or 17.6× trailing earnings, against an industry P/E of 18.1×, and the shares are 25% below their 52-week high. Sales and net profit grew 16% and 22% a year over 3 years; its ROCE of 24% is the second-highest among the 7 largest Packaging & Containers peers. Debt is 0.11× equity, and its dividend yield is 1.9%. It is a small-cap company with a market cap of ₹529 Cr, ranked 24th of 83 Packaging & Containers companies by market cap; the shares fell 2.8% over the past year.
- ₹68.58
- ₹70.88
- ₹66.00
- ₹68.19
- 1.4 L
Health check
- ReturnsBehind
−2.8% over a year, better than 2 of 7 peers.
- Price tagIn line
P/E 17.6 vs industry 18.1.
- GrowthStrong
Sales +16.0%, profit +21.9% a year over 3 years.
- ProfitabilityStrong
ROCE 23.5% vs peer median 16.7%.
- Balance sheetSolid
Debt 0.11× equity, interest covered 8.2×, Piotroski 8 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹529 Cr
- Small cap
- P/E
- 17.6
- Industry 18.1
- Price to book
- 3.13
- Peers 2.06
- Dividend yield
- 1.95%
- ROE
- 18.4%
- Peers 14.4%
- ROCE
- 23.5%
- Peers 16.7%
- Debt to equity
- 0.11
- Debt ₹19 Cr
- EPS (TTM)
- ₹3.86
- Face value ₹2
- OPM (TTM)
- 10.9%
- Net margin 6.6%
- Sales growth
- +37.6%
- Latest quarter vs a year ago
- Profit growth
- +19.2%
- Latest quarter vs a year ago
- Price to sales
- 1.16
- EV/EBITDA 10.6
Strengths and risks
Strengths
- Return on equity of 18.4%.
- Return on capital employed of 23.5%.
- Quarterly sales up 37.6% on a year ago.
About TPL Plastech
TPL Plastech Limited engages in the manufacture and sale of polymer products in India. The company provides intermediate bulk containers (IBC) under QuBC and re-bottled IBC under COBO brand names, as well as offers medium and large blow moulded packaging. It offers narrow mouth drums; narrow mouth and wide mouth carboys for specialty chemical and adhesive industries; and bulk and medium open top drums that are used for packing powder, paste type, and semi…
- Headquarters
- Mumbai
- Employees
- 204
- Sector
- Consumer Cyclical
- ISIN
- INE413G01022
- Website
- tplplastech.in
Price range
- Avg volume (3M)
- 1.7 L
- 1-year return
- minus 2.8%
- From 52-week high
- minus 24.9%
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% |
| TPLPLASTEHTPL Plastech | 67.80 | minus 0.57% | 529 | 17.6 | 3.13 | 23.5% | 18.4% | 7.8% | 16.0% | 21.9% | 1.95% | minus 2.8% |
| Median of 7 peers | – | −2.13% | 4,154 | 17.0 | 2.06 | 16.7% | 14.4% | 14.0% | 7.3% | 15.0% | 0.55% | 9.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 90.4 | 107 | 111 | 114 | 124 | |
| 80.4 | 95 | 97.7 | 101 | 113 | |
| 10 | 11.9 | 13.5 | 12.9 | 11.3 | |
| 11.1% | 11.1% | 12.2% | 11.3% | 9.1% | |
| 0 | 0 | 0 | 0.1 | 0 | |
| 1.3 | 1.3 | 1.3 | 1.2 | 1.2 | |
| 1.4 | 1.4 | 1.5 | 1.6 | 1.6 | |
| 7.3 | 9.2 | 10.7 | 10.1 | 8.5 | |
| 25.2% | 25.2% | 18.8% | 20.5% | 23.6% | |
| 5.5 | 6.8 | 8.7 | 8.1 | 6.5 | |
| 0.70 | 0.88 | 1.11 | 1.03 | 0.84 |
Profit & loss
- Sales CAGR 3Y
- +16.0%
- Profit CAGR 3Y
- +21.9%
- EPS CAGR 3Y
- +21.9%
- ROE
- 18.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 270 | 313 | 349 | 423 | |
| – | +15.7% | +11.6% | +21.0% | |
| 241 | 277 | 309 | 374 | |
| 29.7 | 36 | 40.6 | 48.3 | |
| 11.0% | 11.5% | 11.6% | 11.4% | |
| 0.5 | 0.3 | 0.5 | 0.1 | |
| 5.4 | 5.7 | 5.5 | 5.2 | |
| 5.5 | 5.6 | 5.5 | 5.9 | |
| 1.2 | 0.5 | – | 0 | |
| 20.5 | 25.5 | 30.1 | 37.3 | |
| 21.7% | 22.1% | 21.7% | 22.1% | |
| 16 | 19.8 | 23.6 | 29.1 | |
| – | +23.8% | +18.9% | +23.2% | |
| 2.06 | 2.54 | 3.02 | 3.73 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.6 | 15.6 | 15.6 | 15.6 | |
| 99.8 | 115 | 132 | 153 | |
| 45 | 31.6 | 46.5 | 19.8 | |
| 64.1 | 69.9 | 51.2 | 67.3 | |
| 224 | 232 | 245 | 256 | |
| 80 | 85.1 | 95.9 | 95.4 | |
| 24.1 | 1.2 | 3.1 | 5.6 | |
| – | – | 0.3 | 1.1 | |
| 4.3 | 5 | 4.9 | 5.2 | |
| 116 | 141 | 141 | 149 | |
| 224 | 232 | 245 | 256 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.8 | 29.3 | 16.3 | 45.8 | |
| −9.9 | −5.7 | −22.5 | −6.2 | |
| 11.6 | −23.5 | 6.1 | −39.6 | |
| −0 | 0.1 | −0 | −0 | |
| −17.5 | −11.3 | −24.3 | −9.4 | |
| −19.2 | 18 | −8 | 36.4 | |
| −3.1 | −4.7 | −6.2 | −7.8 |
Shareholding pattern
- Promoters74.86%
- Public25.14%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.86% | 25.14% | 0.00 | |
| 30 Jun 2026 | 74.86% | 25.14% | 0.00 | |
| 31 Mar 2026 | 74.86% | 25.14% | 0.00 | |
| 31 Dec 2025 | 74.86% | 25.14% | 0.00 | |
| 30 Sep 2025 | 74.86% | 25.14% | – |
Major shareholders
Filings & events
News
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