ALFA Finder
The call ran from 2:31 PM to 3:14 PM IST (43 min).
Key takeaways
Headline strong: consolidated PAT +57.7% to ₹45.3 Cr, EBITDA +27.5% to ₹100 Cr. Management sidestepped separator economics, timelines and Noida weakness; no quantified guidance.
| Revenue growth | Consolidated total income +20.2% YoY; H1 +18.2%; price and volume mix. |
|---|---|
| Margins | EBITDA margin 17.7%, up ~100 bps YoY; big jump not expected. |
| Demand visibility | Domestic double-digit growth; exports satisfactory but freight-hit; second half uncertain. |
| Management confidence | Upbeat headline; deflected separator margin, timeline and subsidiary questions. |
Growth
Total income +20.2% YoY to ₹564.6 Cr; margin up ~100 bps to 17.7%. Growth mixes price and volume, with flexibles stronger.
Outlook
No quantified company guidance; separator investment up to ₹200 Cr. The ₹1,000–2,000 Cr scale is aspirational and conditional.
Risks
Noida subsidiary volumes weak; working capital unquantified; separator revenue, margins and timelines undisclosed.
Last quarter's promises, checked
Partly delivered
- Flexible +30% capacity, ₹50–60 Cr capex, line live Jan/Feb 2027 → no update (= PARTIAL: unverified)
- Chennai utilisation to improve in FY27, toward ~70% → 'getting there', no figure (= PARTIAL)
- Separator commercial production Q4 FY28 → plant not operational, timeline undisclosed (= PARTIAL)
Missed
- Separator capex ~₹125 Cr over 18 mo → up to ₹200 Cr now (= MISS: cost raised)
- Phase-1 revenue ₹150–200 Cr, double-digit separator margin → not disclosed (= MISS: unverifiable)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
TCPL Packaging Q2 FY27 Results: Net Profit ₹45.3 Cr, Up 57.8% YoY
TCPL Packaging approved unaudited standalone and consolidated results for quarter and half year ended 30-Sep-2026 with unmodified review report. Half-year standalone revenue from operations was Rs 1,013.51 Crore and PAT Rs 82.72 Crore.
- Key figure
- Net profit ₹45.3 Cr · +57.8% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Investment of ₹125 Cr planned for battery films by Q4 FY28, targeting ₹150-200 Cr revenue in phase one.
Growth they described
Revenue grew 16% YoY to ₹495 Cr; PAT surged 79% to ₹40 Cr, driven by strong domestic demand.
Call details
| Company | TCPL Packaging Ltd |
|---|---|
| NSE symbol | TCPLPACK |
| ISIN | INE822C01015 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 2:30 PM IST |
| Length | 43 min |
| Audio | Our stream on YouTube ↗ |
TCPL Packaging Ltd: key numbers
- Share price
- ₹4,431.10
- Market cap
- ₹4,032 Cr
- Revenue (annual)
- ₹1,810 Cr
- Net profit (annual)
- ₹97.80 Cr
- P/E (TTM)
- 30.5×Sector 47.2×
- Promoter holding
- 55.74%+0.00% QoQ
- FII holding
- 1.05%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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