TCPL Packaging Limited (NSE: TCPLPACK), a packaging company providing paperboard-based and flexible packaging solutions announced its results for the quarter and nine months ended December 31, 2025, on February 9, 2026. On February 16, 2026, the company’s stock was trading at ₹2,840.40, a decrease of ₹44.20 or 1.53%.
Quarterly Results
For the third quarter of FY2026, consolidated total revenue was ₹471.2 crore, a 2% decrease from ₹479.7 crore in the prior year’s corresponding quarter. Consolidated profit after tax reached ₹25.0 crore, representing a 34% decline compared to ₹37.7 crore in Q3 FY2025. Consolidated EBITDA for the period reached ₹81.0 crore.
Consolidated EBITDA margins expanded by 247 basis points to 17.2% for the quarter. Standalone revenue for the same period was ₹452.9 crore, with a standalone profit after tax of ₹25.0 crore. The consolidated results for the period included exceptional items totaling ₹11.6 crore.
Annual Performance Context
For the nine-month period ended December 31, 2025, consolidated total revenue was ₹1,356.4 crore, representing a 1% increase over the ₹1,347.9 crore reported in the same period last year. Consolidated profit after tax for the nine-month period was ₹76.1 crore, a 28% decline from ₹105.0 crore in 9M FY2025.
Consolidated EBITDA for the nine-month period rose 2% to ₹223.0 crore, with margins recorded at 16.4%. Standalone revenue for the nine-month period reached ₹1,300.1 crore compared to ₹1,286.7 crore in the prior year. Standalone profit after tax for the nine-month period reached ₹76.0 crore.
Business and Operations Update
Management stated performance was “led by a strong domestic business” which “helped offset lower export volumes”. Exports were impacted by a “high base and continued softness in overseas markets”. During the third quarter, the company commissioned a gravure cylinder manufacturing facility in Silvassa under its subsidiary, Accura Technik Private Limited.
The board appointed Mr. Saket Kanoria as Chairman and Managing Director effective February 10, 2026. Founder Mr. K.K. Kanoria was named Chairman Emeritus following his decision to relinquish executive responsibilities. The company received the “Most Preferred Workplace Award 2025–2026” and six awards at the “IFCA Star Awards 2025”.
Forward Outlook
Managing Director Saket Kanoria stated: “Looking ahead, with domestic demand expected to remain healthy and the trade deals made by India with the EU and USA, our focus is on expanding our footprint, broadening our product portfolio, and driving growth through diversification. Backed by a strong balance sheet and disciplined capital allocation, we are well positioned to benefit from the shift towards organised players and deliver sustained long-term value”.
Performance Summary
TCPL Packaging reported a 2% decline in consolidated quarterly revenue, though revenue for the first nine months of FY2026 rose 1%. Net profitability decreased for both the quarterly and nine-month periods compared to prior year results. Operational developments during the quarter included a leadership transition and the commissioning of an in-house manufacturing facility for critical packaging inputs. EBITDA margins expanded during the third quarter driven by operating efficiencies.