TCPL Packaging is buzzing loud and clear since opening bell today. Though it opened 3% lower at Rs.590, it soon went on to hit a new 52-week high at Rs.694, up over 14%.
The company posted a good earnings for Q3FY22 and more importantly, the market is happy with the outlook spelt out by the management in the earnings call held on Tuesday.
The company reported a 39% (YoY) jump in consolidated net profit at Rs.14 crore on a revenue from operations at Rs.276 crore, up 14%. EBITDA was up 10% at Rs.42 crore.
The company has also made a healthy progress at its big expansion, which is currently undergoing in the flexible packaging unit, and it hopes that by the end of March it will become operational. This line will more than double the company’s capacity. The company is on course to establish the world’s first state of the art, innovative PE blown film lines, which is being executed through its subsidiary company, TCPL Innofilms. Both facilities are expected to be operational by end March early April. While its film line should be operating at a high level of utilization within the next few months, it expects the flexible line to be optimally utilized over the next one year.