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ICICI Direct Report
We met the management of TCPL Packaging Ltd. to get an insight into its business and future plans.
TCPL is one of the leading players among the paperboard–based packaging solutions providers in India. It also entered the flexible packaging solutions in FY17 to drive revenue growth and leverage its established folding cartons customer base. In December 2021, the company acquired majority stake in rigid box manufacturer ‘Creative Offset Printers Pvt. Ltd.' to venture into rigid box manufacturing.
Revenue, earnings grew at compound annual growth rate of 9%, 19%, respectively, in FY18-21.
It sees ~two times revenues in the non-paperboard packaging business (~15% of revenue in FY21) supported by capacity expansion and client additions.
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