TCPL Packaging Ltd surges 13% today

The stock is rallying on account of strong Q2FY23 results, which the company disclosed on November 8.

On November 9, the market is trading flat. At 11:40 am, the S&P BSE Sensex is trading at 61102.53, down 0.12%. About sectoral performance, Realty is the top gainer, while Healthcare is the top loser. Regarding stock-specific action, TCPL Packaging Ltd is significantly outperforming the market today.

Shares of TCPL Packaging Ltd have surged 13.48% and are trading at Rs 1405, as of 11:40 am. The stock opened at Rs 1429 and so far, has made an intraday high and low of Rs 1430 and Rs 1361.6, respectively. The stock is rallying on account of strong Q2FY23 results, which the company disclosed yesterday.
TCPL is one of India’s leading producers of sustainable packaging solutions. It caters to consumer goods, food and beverage, tobacco, liquor, agrochemicals, pharma, and various other industries. It is one of India’s largest folding carton manufacturers and converters of paperboard.

The company has a huge list of marquee clients. A few of the names under the food and beverages segment include Unilever, Nestle, Amul, Parle, Britannia, Ferrero, Patanjali, Haldiram, etc.

Colgate Palmolive, ITC Limited, Jio, Samsung, Raymond, Johnson & Johnson, Dabur, and Godrej are a few other key marquee customers of the company across industries.

The company announced Q2FY23 results yesterday. On a YoY basis, its revenue grew by 37.94% and came in at Rs 349 crore. While, for the same quarter, its net profit jumped by 272% YoY and stood at Rs 41 crore.

About the shareholding pattern, 55.74% of the company’s stake is owned by the promoters, 0.8% by FIIs, 3.37% by DIIs, and the rest 40.1% by non-institutional investors.

The company has a market capitalisation of Rs 1286 crore and is currently trading at a PE multiple of 15.7x. The stock has a 52-week high and low of Rs 1542 and Rs 452, respectively.