TCPL Packaging Ltd - Stock Valuation and Financial Performance

BSE: 523301 | NSE: TCPLPACK | Packaging | Small Cap

TCPL Packaging Share Price

2,249.95 -18.20 -0.80%
as on 28-Mar'24 13:48

DeciZen - make an informed investing decision on TCPL Packaging

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

TCPL Packaging stock performance -

mw4me loader
P/E Ratio (CD):
21.36
Market Cap:
2,064 Cr.
52-wk low:
1,264.9
52-wk high:
2,490.1

Is TCPL Packaging Ltd an attractive stock to invest in?

1. Is TCPL Packaging Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that TCPL Packaging Ltd is a below average quality company.

2. Is TCPL Packaging Ltd undervalued or overvalued?

The key valuation ratios of TCPL Packaging Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is TCPL Packaging Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of TCPL Packaging Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of TCPL Packaging:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
TCPL Packaging Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%0%0%0%0%9.6%10%14.7%-
Value Creation
Index
NANANANANANANA-0.3-0.30.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 00000009041,0861,4751,503
Sales YoY Gr.-NANANANANANANA20.1%35.8%-
Adj EPS 000000035.350.3102.8106.2
YoY Gr.-NANANANANANANA42.5%104.4%-
BVPS (₹) 0000000330.2373.6485.3544.4
Adj Net
Profit
000000032.145.793.597
Cash Flow from Ops. 000000011197109-
Debt/CF from Ops. 00000002.74.64.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANANA35.8%
Adj EPS NANANA104.4%
BVPSNANANA29.9%
Share Price 42% 44.5% 82.6% 76%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
000000010.714.323.920.6
Op. Profit
Mgn %
000000014.814.216.116.3
Net Profit
Mgn %
00000003.64.26.36.4
Debt to
Equity
000000011.31.1-
Working Cap
Days
0000000014813870
Cash Conv.
Cycle
00000000657010

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 20.60%

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 1.11

Sales growth is not so good in last 4 quarters at 9.10%

Latest Financials - TCPL Packaging Ltd.

Standalone Consolidated
TTM EPS (₹) 114.2 106.2
TTM Sales (₹ Cr.) 1,455 1,503
BVPS (₹.) 560.3 544.4
Reserves (₹ Cr.) 501 486
P/BV 4.05 4.17
PE 19.87 21.36
From the Market
52 Week Low / High (₹) 1264.85 / 2490.10
All Time Low / High (₹) 2.25 / 2490.10
Market Cap (₹ Cr.) 2,064
Equity (₹ Cr.) 9.1
Face Value (₹) 10
Industry PE 17.4

Management X-Ray of TCPL Packaging:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of TCPL Packaging

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23
Sales9041,0861,475
Operating Expenses 7709311,239
Manufacturing Costs114118153
Material Costs523654888
Employee Cost 90102123
Other Costs 435875
Operating Profit 133154236
Operating Profit Margin (%) 14.8%14.2%16.0%
Other Income 3410
Interest 373448
Depreciation 515664
Exceptional Items 0017
Profit Before Tax 4768152
Tax 142141
Profit After Tax 3347110
PAT Margin (%) 3.7%4.3%7.5%
Adjusted EPS (₹)36.852.0122.1
Dividend Payout Ratio (%)20%19%16%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 300340442
Share Capital 999
Reserves 291331433
Minority Interest022
Debt251391412
Long Term Debt132209193
Short Term Debt120182219
Trade Payables141166162
Others Liabilities 161191237
Total Liabilities 8541,0901,255

Fixed Assets

Gross Block621759855
Accumulated Depreciation173218275
Net Fixed Assets448540580
CWIP 114844
Investments 000
Inventories145183241
Trade Receivables177228295
Cash Equivalents 6117
Others Assets677987
Total Assets 8541,0901,255

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23
Cash Flow From Operating Activity 11197109
PBT 4768152
Adjustment 8587103
Changes in Working Capital -8-40-109
Tax Paid -13-18-36
Cash Flow From Investing Activity -41-195-90
Capex -54-185-97
Net Investments 13-116
Others 011
Cash Flow From Financing Activity -67101-22
Net Proceeds from Shares 000
Net Proceeds from Borrowing -10772
Interest Paid -35-33-46
Dividend Paid -4-7-9
Others -186432
Net Cash Flow 33-2
PARTICULARSMar'21Mar'22Mar'23
Ratios
ROE (%)11.1414.6428.26
ROCE (%)14.0214.6723.16
Asset Turnover Ratio1.061.121.26
PAT to CFO Conversion(x)3.362.060.99
Working Capital Days
Receivable Days726865
Inventory Days585553
Payable Days988668

TCPL Packaging Ltd Stock News

TCPL Packaging Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of TCPL Packaging on 28-Mar-2024 13:48 is ₹2,250.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 13:48 the market cap of TCPL Packaging stood at ₹2,064.
The latest P/E ratio of TCPL Packaging as of 28-Mar-2024 13:48 is 19.87.
The latest P/B ratio of TCPL Packaging as of 28-Mar-2024 13:48 is 4.05.
The 52-week high of TCPL Packaging is ₹2,490.1 and the 52-week low is ₹1,264.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TCPL Packaging is ₹1,455 ( Cr.) .

About TCPL Packaging Ltd

TCPL Packaging Limited, formerly Twenty-First Century Printers Ltd was incorporated in August 1987. It is an ISO 9001:2000 and BRC/IoP certified packaging unit. It is one of leading and largest manufacturers of folding cartons in India.

TCPL Packaging Ltd began commercial production at its plant at Silvassa, Union Territory of Dadra & Nagar Haveli, in April 1990, with a web-fed printing machine equipped with an in-line die cutter.

The first client being Godfrey Phillips India (associates of Phillip Morris International), TCPL had its initial experience in the cigarette industry. Printed shells and hinge lid packs were what TCPL cut its teeth on, and from there, it was no looking back.

With the precious experience gathered while catering to the needs of Godfrey Phillips India TCPL began to look at other players in the cigarette industry and soon had many other cigarette majors as its clients.

Business was looking good and it was time to expand. The second six colour rotogravure machine was commissioned at its plant in 1995. With this, it also started forays in the liquor industry.

Then, in 1997, TCPL became the first printing and packaging unit in India to have been certified 1SO 9002. It added a state-of-the-art six colour offset printing machine at its plant and got all set to take on the future in the year 2001.

By 2005, not only had TCPL started supplying printed cartons to almost all FMCG manufacturers in India, but exports were also growing at a very fast pace. It felt the need for an additional manufacturing unit to service its customers in the northern region of India.

In the year 2005, TCPL set-up its second plant, a state-of-the-art manufacturing unit at Haridwar in the Northern India at an outlay of Rs.300 million (US$ 6.5 million). Since then TCPL has been constantly adding equipments and new capacity to maintain its level of service and quality to its ever growing range of customers. Today, TCPL is one of the largest converters of paperboard in India and its revenue for the year ended 31st March, 2008 is Rs.130.93 crores equivalent to approx $32.50 million.

TCPL has set-up an in-house prepress house known as Accura Reprotech Pvt. Ltd. which handles its prepress requirements and also services other prestigious clients.

Business area of the company:

TCPL manufactures packaging material for the following segments

  • Cigarette
  • Liquor 
  • Food  
  • FMCG
  • Others  

Achievements/ recognition:

  • 2013 - IFCA Star Awards received in 2013
  • 2012 - Indian Institute of Packaging Indiastar Awards received in 2012
  • 2011 - IFCA Star Awards received in 2011
  • 2010 - GlaxoSmithKline Excellence award for Gen X Pack
    Printing & Publishing Group Aspiration award
  • PFFCA Star Award received in 2008
  • The year 2008, TCPL won 3 awards for various cartons being printed for their customers.
  • PFFCA Star Award recieved in 2007
  • PFFCA Star Award recieved in 2005
  • PFFCA Star Award recieved in 2003
  • India star Award recieved in 2002
  • ISO9001:2000 & BRC-IOP Global Stander
  • Certified 1SO 9002.
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