Share price of one of India’s leading producers of sustainable packaging solutions for customers moved up by nearly 7.6 percent on BSE to hit an intraday high at Rs. 2,228.1 on Wednesday, after reporting FY24 financial results with a rise in net profit by 49.3 percent QoQ and announcing expansion plans.
With a market capitalisation of Rs. 1,963 crore, at 01:00 pm., the shares of TCPL Packaging Limited were trading in the green at Rs. 2,157.2, up by 4.22 percent.
The fluctuations in the share prices were observed after the company announced the financial results for FY24, through the recent filings with the stock exchanges on Tuesday post-market hours.
The revenue from operations stood at Rs. 393.4 crores in Q4 FY23-24, indicating a growth of 10.2 percent QoQ from Rs. 357 crore in Q3 FY23-24, and on a year-on-year basis, it increased by nearly 2.6 percent from Rs. 383.4 crore in Q4 FY22-23.
TCPL witnessed a rise in the after-tax profit by 49.3 percent QoQ from Rs. 19.44 crore in Q3 FY23-24 to Rs. 29.02 crore in Q4 FY23-24, and increased by 20.2 percent YoY from Rs. 24.15 crore in Q4 FY22-23 to Rs. 29.02 crore in Q4 FY23-24.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 63.6 crore in Q4 FY22-23 to Rs. 70.4 crore in Q4 FY23-24, representing a growth of 11 percent.
Earnings per share (EPS) for Q4 FY23-24 stood at Rs. 31.9, compared to Rs. 26.5 in Q4 FY22-23, indicating a 20 percent YoY increase in EPS.
Additionally, TCPL plans to establish a Greenfield Facility in the Southern part of India, aimed at enhancing the company’s PAN India presence and improving its capability to serve both new and existing customers.
The company’s facility will be near Chennai city, close to major industrial manufacturing hubs, offering easy access to core markets and logistical advantages, and this expansion aligns with TCPL’s goals to grow geographically alongside its customers and strengthen its leadership position in the industry.
Further, the company’s Board has recommended a dividend of Rs. 22 per equity share for FY23-24, marking the 24th consecutive year of uninterrupted dividend payouts, highlighting its consistent dividend policy.
The stock has delivered positive returns of nearly 35.6 percent in one year, but has given negative returns of about 6 percent in the last six months.
Headquartered in Mumbai, TCPL Packaging Limited 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.
It has also ventured into the flexible packaging industry to produce laminates, sleeves, and wrap-around labels.
Written by Shivani Singh
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