TCPL Packaging Aims To Maintain 15–20% Growth Rate In Long Term: Executive Director

Folded carton manufacturer TCPL Packaging Ltd. is confident of maintaining an average growth rate of 15–20% in the long term, according to Executive Director Akshay Kanoria.

"Over the last 15 years and even the last 30 years, we've consistently been maintaining a fairly stable or solid double-digit growth rate," Kanoria told NDTV Profit. "And our ambition and hope are to continue that growth in the foreseeable future."

"Usually, we don't give revenue guidance to our investors or investor community, but certainly our target is to continue the long-run average growth rate of 15% to 20%," Kanoria said.

The Mumbai-headquartered firm has nine manufacturing facilities, the last of which was inaugurated in Chennai on March 6. Executive Director Vidur Kanoria, who also spoke to NDTV Profit, was hopeful that the latest plant would open up new opportunities for the company in the southern region.

"Domestic is the major component of our top line and having growth in domestic is our first and foremost priority. And I think we've made some investments in new segments and new locations as well. And that will definitely help us," Vidur Kanoria said.

The company has also been exploring new geographies for the last few years to augment its top line.

Vidur Kanoria said exports required a lot of time and patience, and a lot of development over time with clients, he said. "So, that requires certain efforts and we've been putting that in to do our export business. But competition is there, even from local players. And we're also competing with other lower-cost areas like Turkey, Poland and China," he added.

Akshay Kanoria said some of the emerging trends in the industry include premiumisation, sustainability and upgrading of packaging quality in certain segments.

Regarding risks, he said: "There's always a pressure because if the raw material prices go up and you have to ask customers for an increase, then it does create a pressure because customers will naturally push their suppliers."