TCPL Packaging hits a record high of Rs 1,650.30

Headquartered in Mumbai, TCPL is considered one of the 1,000 fastest-growing companies in the Asian- Pacific region with plants in Silvassa, Haridwar, Guwahati and Goa. On Friday (2 December) the group notched up a 16% record high backed by a healthy business outlook. As per business pundits, in Q2FY23, the company's consolidated revenues grew by 43 per cent YoY to Rs 361.7 crore on the back of higher volumes and better realisations.

05 Dec 2022 | By Noel D'Cunha

Saket Kanoria (c) with his sons Akshay (l) and Vidur

The shares of TCPL Packaging notched up a high of Rs 1,650.30 as they rallied 16 per cent on the BSE in intra-day trade on 2 December. The previous high for the packaging major has been Rs 1,540.45 which it touched on 5 September, 2022.

Earlier this year, the packaging major was in the news because it signed a joint venture agreement with the Netherlands-based Halma Solutions to set up a paper cup factory in Goa. Akshay Kanoria of TCPL shared with WhatPackaging? magazine, “With our technical strength and experience and Maarten’s vast knowledge in the paper cups and disposables segment, we aim to be the best factory in India and one of the best in the world for disposable products.”

A year ago, TCPL Packaging, one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced that Noida’s Creative Offset Printers (COPPL) will come under its ownership after the company entered into a definitive share purchase agreement.

At that time, Saket Kanoria, managing director at TCPL said the Creative deal is a natural progression. The acquisition was aligned with TCPL’s strategic objective to grow by leveraging its scale and institutional capabilities in a largely unorganised industry. With both entities having manufacturing facilities in close proximity, TCPL anticipates deriving notable synergies including rationalisation and optimisation of various costs.

With the acquisition of Creative, TCPL entered the high potential rigid box segment that serves multiple, fast growing end-user electronics industries. Since the acquisition, the management said the company has been able to expand its product portfolio by onboarding a number of well-known brands in the electronics industry, including smartphones, smartwatches, headphones etc.

 
TCPL has taken giant strides in sustainable packaging and pioneered biodegradable packaging laminates. The teaming up with Alma Solutions to manufacture paper cups, will see "big export potential". And the launch of the subsidiary called TCPL Innofilms aims to provide multilayer packaging containing revolutionary plastic film.

An industry analyst, who we spoke to said, "TCPL began Q1 FY23 on a strong foot. The stock price of TCPL Packaging has surged 110%, as compared to 14% rise in the S&P BSE sensex. In the calendar year 2022, it has zoomed 219%, as against 4% gain in the benchmark index." 
 
And so, in spite of the volatility in raw material prices, TCPL has been able to mitigate the impact by focusing on innovation and productivity improvements. TCPL revenue has grown by more than 50% due to robust realisations and volumes. And finally, TCPL's move in flexible packaging is expected to yield benefits as capacity has been doubled by 50-60%. And the capacity utilisation in mono cartons is approximately 80%. As Saket Kanoria had shared with WhatPackaging? magazine, “We were traditionally folding cartons based on paperboard and laminate. Now in addition, TCPL Packaging has three new categories."

TCPL Packaging is one of India's leading producers of sustainable packaging solutions for customers across industries. Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries, the company said.The shares of TCPL Packaging notched up a high of Rs 1,650.30 as they rallied 16 per cent on the BSE in intra-day trade on 2 December. The previous high for the packaging major has been Rs 1,540.45 which it touched on 5 September, 2022.

Earlier this year, the packaging major was in the news because it signed a joint venture agreement with the Netherlands-based Halma Solutions to set up a paper cup factory in Goa. Akshay Kanoria of TCPL shared with WhatPackaging? magazine, “With our technical strength and experience and Maarten’s vast knowledge in the paper cups and disposables segment, we aim to be the best factory in India and one of the best in the world for disposable products.”

A year ago, TCPL Packaging, one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced that Noida’s Creative Offset Printers (COPPL) will come under its ownership after the company entered into a definitive share purchase agreement.

At that time, Saket Kanoria, managing director at TCPL said the Creative deal is a natural progression. The acquisition was aligned with TCPL’s strategic objective to grow by leveraging its scale and institutional capabilities in a largely unorganised industry. With both entities having manufacturing facilities in close proximity, TCPL anticipates deriving notable synergies including rationalisation and optimisation of various costs.

With the acquisition of Creative, TCPL entered the high potential rigid box segment that serves multiple, fast growing end-user electronics industries. Since the acquisition, the management said the company has been able to expand its product portfolio by onboarding a number of well-known brands in the electronics industry, including smartphones, smartwatches, headphones etc.
 
TCPL has taken giant strides in sustainable packaging and pioneered biodegradable packaging laminates. The teaming up with Alma Solutions to manufacture paper cups, will see "big export potential". And the launch of the subsidiary called TCPL Innofilms aims to provide multilayer packaging containing revolutionary plastic film.

An industry analyst, who we spoke to said, "TCPL began Q1 FY23 on a strong foot. The stock price of TCPL Packaging has surged 110%, as compared to 14% rise in the S&P BSE sensex. In the calendar year 2022, it has zoomed 219%, as against 4% gain in the benchmark index." 
 
And so, in spite of the volatility in raw material prices, TCPL has been able to mitigate the impact by focusing on innovation and productivity improvements. TCPL revenue has grown by more than 50% due to robust realisations and volumes. And finally, TCPL's move in flexible packaging is expected to yield benefits as capacity has been doubled by 50-60%. And the capacity utilisation in mono cartons is approximately 80%. As Saket Kanoria had shared with WhatPackaging? magazine, “We were traditionally folding cartons based on paperboard and laminate. Now in addition, TCPL Packaging has three new categories."

TCPL Packaging is one of India's leading producers of sustainable packaging solutions for customers across industries. Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries, the company said.
Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

22.22%

Corrugated boxes

 

44.44%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 9

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