TCPL Packaging, incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 1302.62 Crore) operating in Packaging sector.
TCPL Packaging key Products/Revenue Segments include Printing/Packaging, Conversion Charges, Scrap, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 379.81 Crore, up 4.31 % from last quarter Total Income of Rs 364.12 Crore and up 36.62 % from last year same quarter Total Income of Rs 278.01 Crore. Company has reported net profit after tax of Rs 24.26 Crore in latest quarter.
The company’s top management includes Mr.K K Kanoria, Mr.Atul Sud, Mr.Sudhir Merchant, Mr.Rabindra Jhunjhunwala, Mrs.Deepa Harris, Mr.Rishav Kanoria, Mr.Akshay Kanoria, Mr.S G Nanavati, Mr.Saket Kanoria, Mr.Sunil Talati. Company has Singhi & Co. as its auditors. As on 31-12-2022, the company has a total of 1 Crore shares outstanding.
Investment Rationale
Consistent requirement of growth capital has kept the debt levels high for the company, however, on relative basis the debt level has come down. TCPL doesn’t have any major capex plans in the next two years while the future capex (if any) will not be more than its cash profits with no plans to raise any fresh debt. Thus, the company’s debt level may peak out from FY23 onwards. Improving utilisation levels and better working capital management are likely to drive up the company’s RoCE.
Promoter/FII Holdings
Promoters held 55.74 per cent stake in the company as of 31-Dec-2022, while FIIs owned 0.95 per cent, DIIs 3.94 per cent.
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