TCPL Packaging

TCPL Packaging (formerly Twenth-First Century Printers), is one of India’s largest manufacturers of printed folding cartons, catering to the cigarette, FMCG, liquor, food and other industry segments. Financially, the company is doing well. For Q3FY15, the company clocked revenue of Rs.131 crore, up 6.5% QoQ, while EBITDA jumped 7.7% QoQ to Rs. 21.8 crore. Q3 net margins expanded to 7% (up from 6.7% in Q2FY15) as net profit surged to Rs. 9.13 crore. Thus, Q3 EPS stood at Rs. 10.49 while cash EPS was at Rs. 20.16.

For 9MFY15, its posted a revenue of Rs. 364 crore, with EBITDA jumping to Rs. 61 crore, same as what was clocked in entire FY14, as EBITDA margin expanded to 16.7%. Its net profit and cash profit for 9MFY15 is Rs. 23.51 crore and Rs. 47.68 crore respectively, leading to EPS of Rs. 27.02 (as against Rs. 14.38 for full year last year) and cash EPS of Rs. 54.80. Thus, financial performance for first nine months has been excellent. It has gross debt of Rs. 130 crore, cash and equivalents of less than a crore. The board is considering a proposal to raise Rs. 63 crore via the QIP route.