What was TCPL Packaging's revenue in Q3 FY26?

TCPL Packaging reported revenue of ₹471 Cr in Q3 FY26, a — change year-over-year.

Did TCPL Packaging management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

TCPL Packaging Q3 FY26 Research Workspace: Revenue ₹471 Cr (—)

Q: What guidance did TCPL Packaging management give?

Capex for FY27 similar to FY26 at ~₹100 crore: Management expects capex for FY27 to be around ₹100 crore, similar to the current year's level.

Revenue ₹471 Cr

EBITDA ₹81 Cr +15%

PAT ₹25 Cr

EBITDA Margin 17.2% +240bps

Duration 33 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

TCPL Packaging reported Q3 FY26 consolidated revenue of ₹471 crore with EBITDA of ₹81 crore, up 15% YoY, and margins expanding 240 bps to 17.2%. Domestic volume grew low double-digit, offsetting subdued exports. Gross margin improvement to 42.7% was driven by favorable product mix and cost control. PAT of ₹25 crore included an exceptional loss of ₹11.6 crore from labor code implementation. The new gravure cylinder facility at Silvasa enhances backward integration. Management expects domestic demand to remain healthy and sees positive export tailwinds from recent trade deals with the US and EU, though recovery will take time. Key risk: cigarette tax hike may pressure domestic tobacco packaging volumes, though the portfolio is diversified.

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Research workspace

Focused Modules

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Risk Intelligence

Cigarette tax hike impact on domestic volumes

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Quarter Snapshot

Domestic volume growth Low double-digit

+10-12% YoY

Domestic volume grew low double-digit for both Q3 and 9M FY26.

Gross margin 42.7%

+270bps YoY

Gross margin expanded from ~40% to 42.7% due to favorable mix and cost control.

Overall capacity utilization 70-75%

flat

Overall capacity utilization is 70-75%; flexible packaging utilization is slightly higher.

Chennai plant utilization <50%

flat

Chennai plant utilization is below 50% but expected to improve in coming quarters.

Fast read

Guidance and risk preview

Top guidance Capex for FY27 similar to FY26 at ~₹100 crore

Management expects capex for FY27 to be around ₹100 crore, similar to the current year's level.

Top risk Cigarette tax hike impact on domestic volumes

A sharp increase in cigarette taxes may negatively impact domestic tobacco packaging volumes, though the portfolio is diversified.