TCPL Packaging stock zooms 8% post Q4 earnings; margins improve YoY

TCPL Packaging PAT was registered at Rs 37.7 crore in Q4FY24 as against Rs 35.7 crore in Q3FY24, a rise of 6 per cent YoY

Shares of TCPL Packaging shot up by 7.6 per cent to Rs 2,228.10 per share on the BSE in Wednesday’s intraday deals. This came after the company’s net profits and margins improved for the January-March quarter of the fiscal year 2023-24 (Q4FY24) and FY24. 

On Tuesday, TCPL Packaging delivered its Q4FY24 results. Revenue from operations surged 2 per cent year on year (YoY) and stood at Rs 400.5 crore in Q4FY24 as against Rs 392.6 crore in the same quarter last year. 

Profit After Tax (PAT) was registered at Rs 37.7 crore in Q4FY24 as against Rs 35.7 crore in Q3FY24, a rise of 6 per cent YoY. 

Earnings before interest, tax, depreciation and amortisation (Ebitda) reported at Rs 70.4 crore in Q4FY24 as compared to Rs 63.6 crore in Q3FY24, up 11 per cent YoY. 

Ebitda margin improved by 137 basis points to 17.6 per cent in the March quarter of FY24 from 16.2 per cent in the corresponding quarter of the previous year. 

On a full year basis, PAT slipped by 8 per cent to Rs 101.4 crores in FY24 as against Rs 110.5 crore in FY23. The company’s revenue rose 5 per cent at Rs 1,541.4 crore versus Rs 1,474.9 crore in FY23.

Ebitda increased by 7 per cent in FY24 to Rs 251 crore as compared to Rs 136 crore in FY23. The margins improved 31 basis points to 16.4 per cent in FY24 as compared to 16 per cent in FY23. The board of directors of the company recommended a dividend of Rs 22 per share.

“We are confident in our ability to continue delivering sustainable value to all our stakeholders. Leveraging our extensive expertise and institutional strengths, we are committed to sustaining our impressive 30-year revenue CAGR of 17 per cent,” said Saket Kanoria, Managing Director, TCPL Packaging. 

At 12:08 PM; the stock of the company was trading 3.88 per cent higher at Rs 2,150.15. By comparison the S&P BSE Sensex fell 0.76 per cent. TCPL Packaging is presently trading at a price to earnings multiple of 18.83 times.