Slide 1: Exchange filing cover letter for earnings presentation
8th November 2023 The Bombay Stock Exchange Ltd The National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block Dalal Street, Bandra Kurla Complex, Mumbai 400 001 Bandra East, Mumbai 400 051 Security Code:-523301 Trading Symbol:- TCPLPACK Dear Sir(s), Re:- E
Slide 2: Q2 & H1 FY2024 Earnings Presentation
Q2 & H1 FY2024 Earnings Presentation 08 November 2023
Slide 3: Disclaimer
Certain statements and opinions with respect to the anticipated future performance of TCPL Packaging Limited (TCPL) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct.
Slide 4: Q2 & H1 FY2024 Results Overview
Q2 & H1 FY2024 Results Overview 3
Slide 5: Q2 FY24 - Key Financial Highlights Consolidated
Q2 FY24 - Key Financial Highlights Consolidated Total Revenues (Rs. Cr.) EBITDA (Rs. Cr.) *Cash Profit (Rs. Cr.) 65.1 65.8 406.0 361.7 57.5 54.8 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Shift % (Y-o-Y) 12% Shift % (Y-o-Y) 13% Shift % (Y-o-Y) -17% Margins (%) Margins (%) 15.9% 16.0% 18.2% 13.5
Slide 6: Q2 FY24 - Key Financial Highlights Standalone
Q2 FY24 - Key Financial Highlights Standalone Total Revenues (Rs. Cr.) EBITDA (Rs. Cr.) *Cash Profit (Rs. Cr.) 63.6 65.9 389.0 56.1 349.0 55.0 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Shift % (Y-o-Y) 11% Shift % (Y-o-Y) 13% Shift % (Y-o-Y) -17% Margins (%) Margins (%) 16.1% 16.3% 18.9% 14.1%
Slide 7: Key Developments
Key Developments Strengthening the Board with the Addition of Two New Independent Directors Sanjiv Anand’s Appointment Mr. Sanjiv Anand, a globally recognized thought leader on strategy powered by the Balanced Scorecard, has been appointed as an Independent Director. As the Chairman of Cedar, a Forb
Slide 8: Key Developments
Key Developments Update on Capex Initiatives Successfully commissioned a new advanced offset printing line, complemented by modern ancillary equipment at the Haridwar facility 7
Slide 9: Awards & Accolades Received in H1 FY24
Awards & Accolades Received in H1 FY24 TCPL has been recognized as the "PrintWeek Printing Company of the Year 2023" at the prestigious PrintWeek Awards 2023 The Company has also been recognized as "Innovative Printer of the Year 2023" (PET, LDPE, HDPE, PVC, PP, METAL/GLASS) by PrintWeek magazine Cr
Slide 10: Awards & Accolades Received in H1 FY24
Awards & Accolades Received in H1 FY24 At the “IFCA Awards 2023,” organized by The Indian Flexible Packaging & Folding Carton Manufacturers Association (IFCA), TCPL won six awards across various categories, with accolades for the following SKUs: Folding Carton Category: o Cavin Kare Meera Onion Hair
Slide 11: Management Message
Commenting on the performance for Q2 & H1 FY2024 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said Management “We have reached a significant milestone this quarter by achieving the highest Message revenue run-rate in our history, surpassing the Rs. 400 crore mark. This remarkable ach
Slide 12: Consolidated P&L Statement
Consolidated P&L Statement Y-o-Y Change Y-o-Y Change Particulars (Rs. crore) Q2 FY24 Q2 FY23 H1 FY24 H1 FY23 (%) (%) Revenues from Operations 398.7 354.6 12.5% 762.5 688.8 10.7% Other Operating Income 7.2 7.2 1.0% 14.8 15.5 -4.3% Total Revenues 406.0 361.7 12.2% 777.3 704.2 10.4% Total Expenditure •
Slide 13: Standalone P&L Statement
Standalone P&L Statement Y-o-Y Change Y-o-Y Change Particulars (Rs. crore) Q2 FY24 Q2 FY23 H1 FY24 H1 FY23 (%) (%) Revenues from Operations 382.1 341.9 11.8% 734.3 669.0 9.8% Other Operating Income 7.0 7.2 -2.5% 14.4 15.5 -6.8% Total Revenues 389.0 349.0 11.5% 748.7 684.5 9.4% Total Expenditure • Ra
Slide 14: Q2 FY24: Financial & Operational Discussions (Y-o-Y)
Q2 FY24: Financial & Operational Discussions (Y-o-Y) Total Revenues On a Consolidated basis, Total Revenues stood at Rs. 406 crore as against Rs. 362 crore, higher by 12% TCPL hit a major milestone this quarter, achieving the highest revenue run-rate in its history, surpassing Rs. 400 crore Strong c
Slide 15: Balance Sheet Snapshot – Consolidated
Balance Sheet Snapshot – Consolidated Rs. 477.6 Rs. 1,084.1 Rs. 968.2 Crore Crore Crore Net-worth Capital Employed Fixed Assets (Gross) Rs. 44.7 Rs. 526.6 100 Crore Crore Days Cash & Investments Net Debt Net Working Capital Days Note: As on 30th September 2023 14
Slide 16: Company Overview
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Slide 17: At a Glance
At a Glance TCPL – One of India’s leading producers of sustainable packaging solutions for customers across industries 33 YEARS 1,475 (RS. CRORE) 216 (RS. CRORE) 8 ~2,000 Of providing an array of Revenue Cash Profit Manufacturing Employees packaging solutions (FY23) (FY23) units (FY23) 18% 15% 15% 2
Slide 18: Business Overview
Business Overview One of India’s largest Folding Carton manufacturers and convertors of paperboard Innovative player in the Flexible packaging industry Close-to-Demand Pan-India Footprint to fast-track growth Caters to Consumer Goods, Food & Beverage, Tobacco, Liquor, Agro-Chemicals, Pharma, and var
Slide 19: Folding Carton Division
Folding Carton Division One of India's leading Carton Packaging companies since 1990s driven by adoption of industry- leading technology Offers wide-range of innovative, sustainable & unique packaging solutions Well-positioned to support diverse customer requirements with PAN India presence and netw
Slide 20: Flexible Packaging Division
Flexible Packaging Division Innovative player providing versatile and sustainable solutions to customers across industry verticals Offers a variety of products including Pouches, Laminates, Shrink Sleeves, and Wrap Around Labels POUCHES SHRINK SLEEVES WRAP AROUND LABELS BUNDLE PAPER, INNER LAMINATES
Slide 21: Pillars of Strength
Pillars of Strength Equipped with latest state-of- the-art machines Operates multiple Several technical manufacturing units Developing creative collaborations to ensure solutions by a dedicated efficiency & productivity Vast market network across Long-term connect with team with proven capabilities
Slide 22: Pan-India Presence
Pan-India Presence Close-to-demand strategy has enabled TCPL to emerge as one of India’s leading sustainable packaging solution providers *Haridwar Delhi Headquartered in Mumbai, Noida Guwahati TCPL operates 8 manufacturing units across 5 locations & has *Silvassa Kolkata marketing offices in key me
Slide 23: Expanding Global Footprint
Expanding Global Footprint Revenue Break-Up Exports 26% Domestic 74% Export Revenue stood at Rs. 367 crore for FY23 “As a ‘Star Export House’, TCPL offers exemplary value to its clients along with world-class quality and service” 22
Slide 24: Marquee Clients
Marquee Clients Electronics, Pharma & Others FMCG FMCG Liquor Food & Beverages “Enables leading companies across industries identify the right packaging solutions” 23
Slide 25: Sustainable Packaging – Renewable, Recyclable and Compostable
Sustainable Packaging – Renewable, Recyclable and Compostable Growing global trend towards eco-friendly packaging solutions fueled considerable growth over the last decade o Ever increasing end-consumer awareness and demand for eco-friendly & recyclable offerings Paperboard is a naturally Renewable,
Slide 26: Sustainability Initiatives – Paperboard
Sustainability Initiatives – Paperboard Replacement of plastic in food packaging – Working on Replacement of plastic in e-commerce – Working on solutions to replacement of non-sustainable materials like plastic food trays with cut down on plastics in e-commerce and online delivery platforms biodegra
Slide 27: Sustainability Initiatives – Paperboard
Sustainability Initiatives – Paperboard Replacement of plastic film lamination and plastic extrusion for food Metallised Board – developed in-house facility to transfer metallised and other barrier packaging effects on paperboard, giving the same quality and finish as metallised We are also working
Slide 28: Investments towards driving higher sustainability in Flexible packaging
Investments towards driving higher sustainability in Flexible packaging TCPL INNOFILMS SPECIALTY CURRENT STRUCTURE NEW STRUCTURE PET InnoPure Adhesive Adhesive PE PE Non - RECYCLABLE 100% RECYCLABLE (Above is an example of a common (Above is an example of the use of our structure in the market) spec
Slide 29: Key Growth Levers
Key Growth Levers Scale Pan-India Presence Improving consolidation in a Close-to-demand strategy to largely unorganized industry drive growth Sustainable Packaging Partnership with Solutions Customers Emerging as a major growth Leverage existing relationship opportunity to gain higher wallet share I
Slide 30: COPPL Acquisition – Enters high potential rigid boxes segment
COPPL Acquisition – Enters high potential rigid boxes segment Update on Creative Offset Printer Private Limited (COPPL) Since both companies have production facilities in TCPL has recently increased its stake in COPPL to ~95% close proximity, TCPL aims to capitalize from key synergies, like cost rat
Slide 31: Annexure
Annexure \ \\ A le
Slide 32: Conference Call Details
Conference Call Details Q2 & H1 FY2024 Earnings Conference Call Time • 3:00 p.m. IST on Thursday, November 09, 2023 To enable participants to connect to the conference call Pre-registration without having to wait for an operator, please register at the below mentioned link: Primary dial-in number •
Slide 33: About Us
About Us TCPL Packaging Limited (TCPL) (BSE: 523301, NSE: TCPLPACK), is For further information, please contact: one of India’s leading producers of sustainable packaging solutions for customers across industries. The Company partners with customers to provide paperboard-based packaging Vivek Dave s
Slide 34: Thank You
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