TCPL Packaging Q2 FY27 Results: Consolidated Net Profit ₹45.30 Crore on Total Income of ₹565 Crore
- Earnings
- Packaging
Reviewed byRachit TripathiBlacklitt Research
TCPL Packaging (NSE: TCPLPACK) reported consolidated total income of ₹564.61 crore and net profit of ₹45.30 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. On a standalone basis, total income was ₹544.11 crore and net profit ₹45.09 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹564.61 crore, up 20.2% YoY and 14.1% QoQ
- Net profit and EPS: ₹45.30 crore, up 57.7% YoY; basic EPS ₹49.78
- Finance costs: ₹15.21 crore, down 22.6% YoY and up 23.9% QoQ
- Exceptional items: Nil in the quarter; ₹13.79 crore in the year ended 31 Mar 2026
Standalone
The company on its own, without its subsidiaries
- Total income: ₹544.11 crore, up 21.7% YoY and 14.1% QoQ
- Net profit and EPS: ₹45.09 crore, up 59.2% YoY; basic EPS ₹49.55
- Finance costs: ₹14.68 crore, down 22.9% YoY and up 25.1% QoQ
- Exceptional items: Nil in the quarter; ₹13.52 crore in the year ended 31 Mar 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 564.61 | 469.57 | +20.2% | 494.94 | +14.1% | |
| Revenue from operations | 561.01 | 460.48 | +21.8% | 492.97 | +13.8% |
| Other income | 3.60 | 9.09 | -60.4% | 1.96 | +83.7% |
| 45.30 | 28.72 | +57.7% | 40.01 | +13.2% | |
| Profit before tax | 61.77 | 37.19 | +66.1% | 52.69 | +17.2% |
| Finance costs | 15.21 | 19.66 | -22.6% | 12.28 | +23.9% |
| Depreciation | 23.14 | 21.67 | +6.8% | 22.94 | +0.9% |
| Tax expense | 16.47 | 8.47 | +94.5% | 12.69 | +29.8% |
| Net profit margin | 8.02% | 6.12% | +1.91 pp | 8.08% | -0.06 pp |
| EPS, basic (₹) | 49.78 | 31.56 | +57.7% | 43.96 | +13.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 21.8% YoY to ₹561.01 crore, while other income fell to ₹3.60 crore from ₹9.09 crore. Other income is 0.6% of total income this quarter.
Profit grew faster than income. Net profit rose 57.7% against 20.2% for total income, and profit before tax rose 66.1% to ₹61.77 crore. Finance costs fell 22.6% to ₹15.21 crore, which is 2.7% of total income. The filing gives no reason for the fall in finance costs.
Tax grew faster than profit before tax. The tax expense of ₹16.47 crore is 26.7% of profit before tax, against 22.8% in the year-earlier quarter, when tax was ₹8.47 crore on ₹37.19 crore of profit before tax.
The quarter has no exceptional item. The year-ended column carries ₹13.79 crore, a provision for the year ended 31 Mar 2026 for increased employee benefit obligations under the Labour Codes notified on 21 Nov 2025, for past service cost, and the filing places it in the year-ended column rather than the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 544.11 | 447.23 | +21.7% | 476.82 | +14.1% | |
| Revenue from operations | 539.55 | 437.70 | +23.3% | 473.97 | +13.8% |
| Other income | 4.56 | 9.53 | -52.2% | 2.85 | +60.0% |
| 45.09 | 28.33 | +59.2% | 37.63 | +19.8% | |
| Profit before tax | 61.56 | 36.81 | +67.2% | 50.32 | +22.3% |
| Finance costs | 14.68 | 19.03 | -22.9% | 11.73 | +25.1% |
| Depreciation | 22.14 | 20.69 | +7.0% | 21.95 | +0.9% |
| Tax expense | 16.47 | 8.48 | +94.2% | 13.19 | +24.9% |
| Net profit margin | 8.29% | 6.33% | +1.95 pp | 7.89% | +0.40 pp |
| EPS, basic (₹) | 49.55 | 31.13 | +59.2% | 41.35 | +19.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit of ₹45.09 crore is ₹0.21 crore below the consolidated figure. Standalone net profit rose 59.2% YoY, slightly faster than the consolidated 57.7%, and the standalone net profit margin is 8.29% against 6.33% a year earlier.
Standalone revenue from operations rose 23.3% YoY to ₹539.55 crore, and other income fell 52.2% to ₹4.56 crore, or 0.8% of total income. Standalone finance costs fell 22.9% to ₹14.68 crore, and profit before tax rose 67.2% to ₹61.56 crore.
The company reports a single segment, Packaging. Dividends paid in the half year ended 30 Sep 2026 were ₹22.75 crore, against ₹27.30 crore in the half year a year earlier. The auditor, Singhi & Co., issued an unmodified limited review report on both sets of results. The auditor did not review one subsidiary, whose revenue for the quarter was ₹3.42 crore and net loss after tax ₹0.15 crore; other auditors reviewed it.
Inference
The filing says the company's paid-up equity share capital is ₹9.10 crore at a face value of ₹10 per share. Dividends paid in the half year were ₹22.75 crore, and the filing does not say what dividend, if any, will follow for the year.
TCPL Energy Materials Limited was incorporated on 24 Sep 2026 as a wholly owned subsidiary, and the consolidated note says there were no financial transactions with it during the quarter. The filing does not say what the subsidiary will do or when it will start operations, nor why finance costs fell so sharply.
Filed with BSE on . Reference: Original filing (PDF)
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