Slide 1: Exchange filing cover letter
May 30, 2025 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:- Invest
Slide 2: Investor Presentation May 2025
Investor Presentation May 2025
Slide 3: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of TCPL Packaging Limited in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be corre
Slide 4: Company Overview
Company Overview 3
Slide 5: At a Glance
At a Glance 35 YEARS 9 ~2,500 Sustainable Of providing an Manufacturing Employees (FY25) array of packaging units solutions Innovative 1,770 249 18% (RS. CRORE) (RS. CRORE) 30 years Revenue CAGR Revenue (FY25) Cash Profit (FY25) Consistent 15% 15% 19% Diversified 30 years EBITDA 30 years PAT CAGR RO
Slide 6: Mission Statement
Mission Statement To be the most admired Indian packaging Company with an objective to: Maintain and acquire customers and contribute to their success To drive long term profitable growth Get it right the first time every time 5
Slide 7: Business Overview and Revenue Mix (FY25)
Business Overview One of India’s largest Folding Carton manufacturers and convertors of paperboard Innovative player in the Flexible packaging industry Folding ~80-85% Cartons Revenue Mix (FY25) Strategic presence in the high-potential rigid box segment Close-to-Demand Pan-India Footprint to fast-tr
Slide 8: Folding Carton Division
Folding Carton Division One of India's leading Carton Packaging companies since 1990s driven by adoption of industry- leading technology MONOCARTONS FOOD & BEVERAGES PACKAGING Offers wide-range of innovative, sustainable & unique packaging solutions SPECIALTY & GIFT PACKAGING Well-positioned to supp
Slide 9: Flexible Packaging Division
Flexible Packaging Division Innovative player providing versatile and sustainable solutions to customers across industry verticals POUCHES SHRINK SLEEVES Offers a variety of products including Pouches, Laminates, Shrink Sleeves, and Wrap Around Labels WRAP AROUND LABELS LAMINATES BUNDLE PAPER, INNER
Slide 10: Rigid Box Division
Rigid Box Division Rigid boxes featuring advanced customizable printing, embossing, and finishing to maximize brand impact and shelf appeal High-quality rigid materials provide outstanding durability and a refined, luxurious feel that safeguards premium products Rigid Boxes 9
Slide 11: Key Milestones – Journey of TCPL Since 1990
Key Milestones – Journey of TCPL Since 1990 Commenced commercial production of the Speciality Polyethylene (PE) blown film Established Merged TCPL a greenfield First Branched Started Added Started Crossed Incorporated Innofilms into TCPL facility in machine into sheeted Haridwar Third Guwahati $100m
Slide 12: Pillars of Strength
Pillars of Strength Deep-rooted Innovative Advanced Wide-spread Sustainability Relationships Products Technology Presence Long-term connect with Developing creative Equipped with latest Operates multiple Consistent investment in marquee clients solutions by a dedicated state-of-the-art machines manu
Slide 13: Diversified Customer Base
Diversified Customer Base Long term relationships with several customers spanning over 35 years Folding Cartons 100+ 100+ customers ranging across large domestic & Customers global corporates Delivers innovative & sustainable packaging Flexible solutions to customers across various industry Packagin
Slide 14: Marquee Clients
Marquee Clients FMCG ELECTRICALS, ELECTRONICS, PHARMACEUTICALS & OTHERS Food & Beverages & Liquor Tobacco Enables leading companies across industries identify the right packaging solutions 13
Slide 15: Dedicated Team for Innovative Solutions
Dedicated Team for Innovative Solutions Delivers Well Exclusive Specialized equipped Expert Customization technical Packaging with advanced Interventions collaborations Solution software Committed to developing best-in-class, high-quality, and cutting-edge packaging solutions 14
Slide 16: Pan-India Presence
Pan-India Presence Close-to- *Haridwar demand Headquartered in Delhi Noida strategy has Mumbai, TCPL operates Guwahati enabled TCPL to emerge as one 9 manufacturing units of India’s *Silvassa Kolkata leading across 6 locations & has sustainable Mumbai packaging marketing offices in key solution Goa
Slide 17: Established a new greenfield facility in Chennai
Established a new greenfield facility in Chennai A strategic step to enhance nationwide presence and better serve customers • TCPL has inaugurated a state-of-the-art Greenfield plant near Chennai focused on high-quality paperboard carton production • This marks a key milestone in the Company’s growt
Slide 18: Expanding Global Footprint
Expanding Global Footprint As a ‘Star Export House’, TCPL offers exemplary value to its clients along with world -class quality and service 17
Slide 19: Manufacturing Excellence
Manufacturing Excellence Focus on achieving Established best-in- State-of-the-art Ink management Leveraging latest operational excellence class equipment laboratories at all systems installed as digital technology to by adopting latest across facilities plants to ensure high per international improv
Slide 20: Expansion into Gravure Cylinder Manufacturing
Expansion into Gravure Cylinder Manufacturing Driving Competitive Next-Gen Backward Edge Technology Integration Dual Enhancing Boosts print electromechanical process control quality and and laser engraving and speeding manufacturing for unmatched print delivery efficiency accuracy and color fidelity
Slide 21: Sustainable Paperboard Packaging – Renewable, Recyclable, and Responsible
Sustainable Paperboard Packaging – Renewable, Recyclable, and Responsible Growing Global Trend Net Positive Environmental Impact • Significant growth in eco-friendly packaging over the • Positive effects on biodiversity through managed last decade forestry • Driven by increasing consumer awareness a
Slide 22: Sustainability Initiatives – Paperboard
Sustainability Initiatives – Paperboard Replacement of plastic in food packaging – Working Replacement of plastic in e-commerce – Working on on replacement of non-sustainable materials like plastic solutions to cut down on plastics in e-commerce and food trays with biodegradable and environmentally
Slide 23: Sustainability Initiatives – Paperboard
Sustainability Initiatives – Paperboard Metallised Board Replacement of plastic film lamination and plastic extrusion for food and other barrier packaging Developed in-house facility to transfer metallised effects on TCPL is also working on alternative water-based coatings to replace paperboard, giv
Slide 24: Sustainability Initiatives – Flexible
Sustainability Initiatives – Flexible TCPL specializes in the manufacturing of specialty polyethylene (PE) blown film and sustainable packaging films, enabling customers to adopt fully recyclable and sustainable packaging structures Specialty polyethylene (PE) blown film • The unique technology offe
Slide 25: Sustainability Initiatives – Flexible
Sustainability Initiatives – Flexible UNILEVER LOBLAWS 3 Roses tea outer Red Beets Pouch bag NESTLE INDIA PLENNYSHAKE Munch outer bag Whey Protien Flat Bottom Bag Innovative PE/PE Pouches 24
Slide 26: Commitment to Carbon Neutrality by 2040
Commitment to Carbon Neutrality by 2040 • TCPL is announcing a target to achieve carbon neutrality for operational (Scope 1 and 2) emissions by 2040, using FY2023– 24 as the baseline year • This commitment forms part of the Company’s broader sustainability agenda aimed at reducing environmental impa
Slide 27: ESG Initiatives
ESG Initiatives • TCPL - Business Responsibility Policy covers social, environmental, and economic aspects Environment o All units are designed to be resource-efficient, featuring rooftop solar installations, energy-efficient cooling systems, LED lighting, and advanced waste management practices inc
Slide 28: Committed Management Team
Committed Management Team K. K. Kanoria Saket Kanoria Rishav Kanoria S. G. Nanavati Akshay Kanoria Vidur Kanoria Executive Chairman Managing Director Director Executive Director Executive Director Executive Director Graduate from MBA-Finance from Graduate from Chartered Graduate from Vidur Kanoria i
Slide 29: Strong Independent Directors
Strong Independent Directors Deepa Harris Andreas Blaschke Sanjiv Anand Tarang Jain Ashish Razdan Aniket S. Talati Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Have over 3 decades Has 30 years of With 35+ years' Bringin
Slide 30: 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 31: Industry Overview
TCPL packaging limited Lotte Choco Pie nsure Aptamil Ensue Necip
Slide 32: India: Folding Cartons & Flexible Packaging Industry
India: Folding Cartons & Flexible Packaging Industry India is one of Paperboard Reduction in Shift towards Some of the key the fastest industry is single-use sustainable trends include growing expected to plastic to flexible use of consumers of grow at a provide notable packaging biodegradable packa
Slide 33: Packaging Industry Value Chain
Packaging Industry Value Chain Folding Carton Solutions Folding Carton Paper Pulp Provider Paper Mill Packaging Solution Provider Key Raw Feedstock Material to producer packaging Brand Flexible Packaging Key Attributes: Owner Customized Plastic Granules Manufacturer Design Innovation Film Flexible P
Slide 34: Consolidated Financial Highlights
Consolidated Financial Highlights 33
Slide 35: Robust Financial Trend – Revenue
Robust Financial Trend – Revenue Revenue (Rs. crore) • Over the 15-year period from FY10 to FY25 - 15-year CAGR: 16.1% 2010 to 2025, TCPL has 1742.6 achieved an impressive CAGR of 16% 1512.8 1442.2 • In recent years, the Company has consistently achieved healthy revenue growth, 1065.4 despite naviga
Slide 36: Robust Financial Trend – EBITDA & Cash Profit
Robust Financial Trend – EBITDA & Cash Profit EBITDA (Rs. crore) EBITDA Margin (%) FY15 to FY25 - 10-year CAGR: 13.6% 16.4% 16.6% • Over time, TCPL has consistently 16.5% 17.0% 15.9% 14.4% 15.1% 14.8% 16.8% upheld its EBITDA and Cash 12.6% 13.0% Profit margins within a reliable range • In FY18 & FY1
Slide 37: Robust Financial Trend – Net Debt:Equity & Capital Expenditure
Robust Financial Trend – Net Debt:Equity & Capital Expenditure Net Debt to Equity 1.93 1.79 1.58 1.66 1.53 1.31 1.30 1.26 1.17 1.08 0.98 0.85 • Investments over the years have 0.80 enabled TCPL to emerge as one of India's leading packaging manufacturers FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 F
Slide 38: Key Financial Ratios
Key Financial Ratios ROCE 22.7% 23.1% 22.4% 21.8% 18.9% 17.4% 16.3% 16.4% 15.4% • TCPL achieved healthy return 13.3% 10.9% 12.7% ratios over the past few years, 13.3% reflecting strong financial performance and effective capital utilization FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24
Slide 39: Financial Snapshot
Financial Snapshot Particulars FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Net Worth (Rs. crore) 78 88 114 145 178 216 241 269 301 344 453 530 649 Gross Block 280* 328* 392* 478* 585* 426 516 595 632 726 810 981 1,102 Cash & cash equivalents 3 3 6 6 11 15 6 16 6 6 5 21 20 (Rs. c
Slide 40: Consistent Returns to Shareholders
Consistent Returns to Shareholders Dividend Per Share (Rs.) Dividend Payout Ratio 30.00 23.9% 22.00 20.0% 20.4% 19.7% 20.1% 19.9% 19.1% 19.5% 19.4% 20.00 20.0% 16.5% 20.1% 10.0% 10.00 7.35 7.35 6.00 6.25 5.25 3.70 4.00 2.65 2.50 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 One of
Slide 41: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. crore) Q4 FY25 Q4 FY24 Y-o-Y Change (%) FY25 FY24 Y-o-Y Change (%) Revenues from Operations 416.2 393.4 5.8% 1742.6 1512.8 15.2% Other Operating Income 6.1 7.1 -14.1% 27.7 28.6 -3.2% Total Revenues 422.4 400.5 5.5% 1770.3 1541.4 14.8% Total Expenditure • R
Slide 42: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. crore) Q4 FY25 Q4 FY24 Y-o-Y Change (%) FY25 FY24 Y-o-Y Change (%) Revenues from Operations 403.7 377.0 7.1% 1669.7 1463.0 14.1% Other Operating Income 5.9 6.9 -13.9% 26.7 27.8 -4.0% Total Revenues 409.6 383.9 6.7% 1696.4 1490.8 13.8% Total Expenditure • Raw
Slide 43: Summary
Summary Driving Growth Marquee Diversified Strategic Rising Supporting in Resilient Clientele Ensures Product Portfolio Capacity International Sustainability Packaging Stability with Presence Expansion Footprint Through Circular Sectors Across Segments & Backward Packaging Integration Note: As on 31
Slide 44: Annexure
Annexure 43
Slide 45: Awards & Accolades Received in FY25
Awards & Accolades Received in FY25 TCPL’s commitment to excellence was further recognized as Mr. K K Kanoria, Chairman, received the Hurun Award for the Most Respected Entrepreneur and Leader in Sustainable Packaging o This prestigious accolade acknowledges the Company’s success and growth in advan
Slide 46: Awards & Accolades Received in FY25
Awards & Accolades Received in FY25 TCPL continued its tradition of excellence at the SIES SOP Star Awards 2025 for Excellence in Printing, held in February 2025 and organised by the SIES School of Packaging The Company received multiple honours across Carton and Flexible Packaging categories, reaff
Slide 47: Awards & Accolades Received in FY25
Awards & Accolades Received in FY25 TCPL was honored with five prestigious awards at the IFCA Awards 2024, organized by the Indian Flexible Packaging & Folding Carton Manufacturers Association (IFCA), held on December 12, 2024. These awards recognized innovation and creativity in packaging design. B
Slide 48: Market Snapshot
Market Snapshot Shareholding Pattern* Key Market Statistics As on 30-April-2025 Individual, 25.3% BSE/NSE Ticker 523301 / TCPLPACK Domestic Others, 5.8% Institutions (MF CMP (Rs.) 3,622.60 & AIF), 11.6% Market Cap (Rs. Crore) 3,296.57 Foreign Number of outstanding shares (Crore) 0.91 Institutions (F
Slide 49: About Us
About Us TCPL Packaging Limited (TCPL) (BSE: 523301, NSE: TCPLPACK), is one of India’s leading producers of sustainable packaging solutions for customers across industries. The Company partners with customers to provide paperboard-based packaging solutions including folding cartons, printed blanks a
Slide 50: Thank You
Thank You