TCPL Packaging hits a record high of Rs 1,650.30
Headquartered in Mumbai, TCPL is considered one of the 1,000 fastest-growing companies in the Asian- Pacific region with plants in Silvassa, Haridwar, Guwahati and Goa. On Friday (2 December) the group notched up a 16% record high backed by a healthy business outlook. As per business pundits, in Q2FY23, the company's consolidated revenues grew by 43 per cent YoY to Rs 361.7 crore on the back of higher volumes and better realisations.
05 Dec 2022 | By Noel D'Cunha
Saket Kanoria (c) with his sons Akshay (l) and Vidur
The shares of TCPL Packaging notched up a high of Rs 1,650.30 as they rallied 16 per cent on the BSE in intra-day trade on 2 December. The previous high for the packaging major has been Rs 1,540.45 which it touched on 5 September, 2022.
Earlier this year, the packaging major was in the news because it signed a joint venture agreement with the Netherlands-based Halma Solutions to set up a paper cup factory in Goa. Akshay Kanoria of TCPL shared with WhatPackaging? magazine, “With our technical strength and experience and Maarten’s vast knowledge in the paper cups and disposables segment, we aim to be the best factory in India and one of the best in the world for disposable products.”
A year ago, TCPL Packaging, one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced that Noida’s Creative Offset Printers (COPPL) will come under its ownership after the company entered into a definitive share purchase agreement.
At that time, Saket Kanoria, managing director at TCPL said the Creative deal is a natural progression. The acquisition was aligned with TCPL’s strategic objective to grow by leveraging its scale and institutional capabilities in a largely unorganised industry. With both entities having manufacturing facilities in close proximity, TCPL anticipates deriving notable synergies including rationalisation and optimisation of various costs.
With the acquisition of Creative, TCPL entered the high potential rigid box segment that serves multiple, fast growing end-user electronics industries. Since the acquisition, the management said the company has been able to expand its product portfolio by onboarding a number of well-known brands in the electronics industry, including smartphones, smartwatches, headphones etc.
An industry analyst, who we spoke to said, "TCPL began Q1 FY23 on a strong foot. The stock price of TCPL Packaging has surged 110%, as compared to 14% rise in the S&P BSE sensex. In the calendar year 2022, it has zoomed 219%, as against 4% gain in the benchmark index."
TCPL Packaging is one of India's leading producers of sustainable packaging solutions for customers across industries. Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries, the company said.The shares of TCPL Packaging notched up a high of Rs 1,650.30 as they rallied 16 per cent on the BSE in intra-day trade on 2 December. The previous high for the packaging major has been Rs 1,540.45 which it touched on 5 September, 2022.
Earlier this year, the packaging major was in the news because it signed a joint venture agreement with the Netherlands-based Halma Solutions to set up a paper cup factory in Goa. Akshay Kanoria of TCPL shared with WhatPackaging? magazine, “With our technical strength and experience and Maarten’s vast knowledge in the paper cups and disposables segment, we aim to be the best factory in India and one of the best in the world for disposable products.”
A year ago, TCPL Packaging, one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced that Noida’s Creative Offset Printers (COPPL) will come under its ownership after the company entered into a definitive share purchase agreement.
At that time, Saket Kanoria, managing director at TCPL said the Creative deal is a natural progression. The acquisition was aligned with TCPL’s strategic objective to grow by leveraging its scale and institutional capabilities in a largely unorganised industry. With both entities having manufacturing facilities in close proximity, TCPL anticipates deriving notable synergies including rationalisation and optimisation of various costs.
With the acquisition of Creative, TCPL entered the high potential rigid box segment that serves multiple, fast growing end-user electronics industries. Since the acquisition, the management said the company has been able to expand its product portfolio by onboarding a number of well-known brands in the electronics industry, including smartphones, smartwatches, headphones etc.
An industry analyst, who we spoke to said, "TCPL began Q1 FY23 on a strong foot. The stock price of TCPL Packaging has surged 110%, as compared to 14% rise in the S&P BSE sensex. In the calendar year 2022, it has zoomed 219%, as against 4% gain in the benchmark index."
TCPL Packaging is one of India's leading producers of sustainable packaging solutions for customers across industries. Over the coming years, the packaging industry is expected to witness huge growth as India moves towards self-reliance in manufacturing across various industries, the company said.