{"id":148560,"date":"2023-06-08T09:00:11","date_gmt":"2023-06-08T13:00:11","guid":{"rendered":"https:\/\/44.250.171.167\/?p=148560"},"modified":"2023-06-08T09:00:13","modified_gmt":"2023-06-08T13:00:13","slug":"tcpl-packaging-ltd-q4-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-q4-fy23-earnings-conference-call-insights\/","title":{"rendered":"TCPL Packaging Ltd Q4 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from TCPL Packaging Ltd (TCPLPACK) Q4 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:07:54] Pavan Kumar of Shree RatnaTraya asked about the losses for Creative in FY23 and when and at what scale is it expected to breakeven in FY24. Saket Kanoria MD said that Creative\u2019s performance has been impacted by a slump in demand for mobile phones. However, progress has been made to upgrade the plant and efficiency, and the company is confident that it will make money in the current year with a 31% growth in revenue last year.<\/li>\n<\/ul>\n<ul>\n<li>[00:10:32] Pavan Kumar of Shree RatnaTraya enquired about the money lost in the Innofilms side. Saket Kanoria MD answered that Innofilms faced challenges with its technology and machine parts, resulting in a loss of INR1.5 crore on an EBITDA level. The Board of Directors have recommended merging the company into TCPL and it is expected to stabilize once new parts arrive.<\/li>\n<\/ul>\n<ul>\n<li>[00:12:42] Gunjan Kabra at Niveshaay asked if one can expect an improvement in gross margins and EBITDA margin due to a decrease in paper prices. Saket Kanoria MD replied that paper prices have started correcting since January and the company has to pass that through to customers. The margin is already healthy and it is unlikely to expand due to competition and soft demand.<\/li>\n<\/ul>\n<ul>\n<li>[00:14:30] Jeetu Panjabi with EM Capital Advisors enquired about the current demand situation and if a growth or a slowdown is expected. Saket Kanoria MD answered that the demand side has not been very strong in the last couple of months with low-single-digit volume growth. However, as inflationary pressures ease off, volume growth is expected to come back but the world as a whole is currently under stress due to inflation.<\/li>\n<\/ul>\n<ul>\n<li>[00:16:15] Jeetu Panjabi at EM Capital Advisors asked if there is any new initiatives or product categories that will provide growth over the next two years. Saket Kanoria MD replied that the company is studying potential synergies in the packaging space but it is too early to talk about it.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:20] Pavan Kumar from RatnaTraya Capital asked if one expects domestic demand to come back or at least maintain the current rate in FY24. Saket Kanoria MD answered that demand is currently weak but with inflation easing off, there is no reason why it should not get stronger.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:04] Pavan Kumar from RatnaTraya Capital asked about the peak revenues from the current capacity. Saket Kanoria MD replied that the company could up up another 10%, 12% from what it achieved in 4Q.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:46] Jayesh Shroff of Cask Capital queried about the status of the Innofilms line in terms of utilization and customer acceptance. Saket Kanoria MD said that the Innofilms line has technical issues that are expected to be sorted out in the next 3-4 months. In the meantime, it is only operating for internal use and should be at a proper operational level in the second half of the year.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:40] Amit Kumar enquired about the capex plan for FY24. Saket Kanoria MD said that the capex plan for FY24 is just above INR100 crore and includes the addition of three production lines in Silvassa and Haridwar, post-printing equipment, and the removal of old machines. This represents a large increase in new capacity and modernization.<\/li>\n<\/ul>\n<ul>\n<li>[00:25:23] Amit Kumar enquired what prompted the addition of another offset line given the current market conditions and existing capacity. Saket Kanoria MD said that the addition of another offset line was prompted by the need for flexibility and agility to service customers with reducing average run lengths. Having additional capacity improves service levels and prepares the company for growth while also replacing old machines.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:01] Nirav Savai from Abakkus AMC asked about the outlook for the export business in FY24 and its contribution in FY23. Saket Kanoria MD answered that exports have been a silver lining for the company, accounting for 25% of revenue. The outlook for the current year is positive with growth expected to continue due to increased outsourcing from India and a favorable currency situation.<\/li>\n<\/ul>\n<ul>\n<li>[00:29:03] Nirav Savai from Abakkus AMC asked about the company\u2019s aspirational size for the next 3-4 years at a Group level for both the Flexible Packaging and Folding Carton businesses. Saket Kanoria MD said that TCPLPACK\u2019s past performance indicates a 17%, 18% average growth annualized. About 2,000-odd-crores of top line within next 5 years.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:09] Pulkit Singhal from Dalmus Capital enquired about the growth prospects for the flexible packaging line and if TCPLPACK expects market share gains to continue at a similar rate. Saket Kanoria MD replied that the company is expanding its marketing team and budget to reach out to more customers across India and abroad. The flexible packaging line was expanded last year. A third line is being added in 2H24, effectively tripling the capacity and the company is confident it will be able to fill it up quickly.<\/li>\n<\/ul>\n<ul>\n<li>[00:32:15] Pulkit Singhal from Dalmus Capital asked if the company offset a lackluster domestic industry with growth vectors such as exports, flexible packaging, market share gains, and rigid packaging to achieve healthy double-digit growth. Saket Kanoria MD said if domestic demand stays at a low growth, it will not be possible to maintain high growth. However, the company is investing in lines and expanding its footprint to be ready for growth. With inflation under check, volume growth is expected to come back and double-digit volume growth is possible to continue.<\/li>\n<\/ul>\n<ul>\n<li>[00:34:32] Pulkit Singhal from Dalmus Capital asked how much will the domestic carton and flexible packaging capacity increase in terms of tonnage after the INR100 crore capex. Saket Kanoria MD replied that one line typically has a capacity of 9,000 tons per year, so two lines would be 18,000 tons. However, due to reducing volumes per brand, the effective capacity could be around 14,000-15,000 tons.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from TCPL Packaging Ltd (TCPLPACK) Q4 FY23 Earnings Concall Q&amp;A Highlights: [00:07:54] Pavan Kumar of Shree RatnaTraya asked about the losses for Creative in FY23 and when and at what scale is it expected to breakeven in FY24. Saket Kanoria MD said that Creative\u2019s performance has been impacted by a slump in demand [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"TCPL Packaging Ltd Q4 FY23 Earnings Conference Call Insights #TCPLPACK #Q4 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5753],"tags":[10169,8650],"class_list":["post-148560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials","tag-earnings","tag-paper-forest-products"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":143373,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":148560,"position":0},"title":"TCPL Packaging Ltd Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"March 23, 2023","format":false,"excerpt":"Key highlights from TCPL Packaging Ltd (TCPLPACK) Q3 FY23 Earnings Concall Management Update: [00:03:54] TCPLPACK said its second flexible packaging line commissioned at the start of the year is well received and generated significant interest, leading to a positive ramp-up in utilization. The company is now considering plans to add\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":148379,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-tcplpack-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":148560,"position":1},"title":"TCPL Packaging Ltd (TCPLPACK) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 29, 2023","format":false,"excerpt":"TCPL Packaging Ltd (NSE:TCPLPACK) Q4 FY23 Earnings Concall dated May. 29, 2023 Corporate participants: Anoop Poojari -- Client Manager Saket Kanoria -- Managing Director Analysts: Pavan Kumar -- Shree RatnaTraya Capital Partners -- Analyst Gunjan Kabra -- Niveshaay -- Analyst Jeetu Panjabi -- EM Capital Advisors -- Analyst Jayesh Shroff\u2026","rel":"","context":"In &quot;Consumer&quot;","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":128265,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":148560,"position":2},"title":"TCPL Packaging Ltd Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"March 15, 2022","format":false,"excerpt":"https:\/\/youtu.be\/LBj0LkzOSR0 Key highlights from TCPL Packaging Ltd (TCPLPACK) Q3 FY22 Earnings Concall Management Update: TCPLPACK said it continue to witness rise in input prices that impacted gross margins during 3Q22. However, the company was able to limit the effect of the overall profitability by taking measures, particularly to cut expenses\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141502,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-tcplpack-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":148560,"position":3},"title":"TCPL Packaging Ltd (TCPLPACK) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 14, 2023","format":false,"excerpt":"TCPL Packaging Ltd (NSE:TCPLPACK) Q3 FY23 Earnings Concall dated Feb. 13, 2023. Corporate Participants: Saket Kanoria\u00a0--\u00a0Managing Director Unidentified Speaker\u00a0-- Analysts: Jenny Rose Kunnappally\u00a0--\u00a0CDR India Private Limited -- Analyst Gunjan Kabra\u00a0--\u00a0Niveshaay Investment Advisory -- Analyst Pavan Kumar\u00a0--\u00a0RatnaTraya Capital Partners -- Analyst Vipul Shah\u00a0--\u00a0RippleWave Equity Advisors LLP -- Analyst Unidentified Participant\u00a0--\u00a0-- Analyst\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147409,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-q4fy23-results-out-revenue-grows-by-19\/","url_meta":{"origin":148560,"position":4},"title":"TCPL Packaging Ltd Q4FY23 results out, revenue grows by 19%","author":"Chirag Gupta","date":"May 26, 2023","format":false,"excerpt":"TCPL manufactures folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. TCPL has also ventured into the flexible packaging industry, with the capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels. TCPL Packaging is promoted by the Kanoria family, which has varied business\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":175423,"url":"https:\/\/alphastreet.com\/india\/tcpl-packaging-ltd-tcplpack-q4-2025-earnings-call-transcript\/","url_meta":{"origin":148560,"position":5},"title":"TCPL Packaging Ltd (TCPLPACK) Q4 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"TCPL Packaging Ltd (NSE: TCPLPACK) Q4 2025 Earnings Call dated Jun. 02, 2025 Corporate Participants: Anoop Poojari \u2014 Investor Relations Akshay Kanoria \u2014 Executive Director Vidur Kanoria \u2014 Executive Director Unidentified Speaker Analysts: Rohan Kalle \u2014 Analyst Resham Jain \u2014 Analyst Pavan Kumar \u2014 Analyst Nishant Bagrecha \u2014 Analyst Abhisar\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/148560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=148560"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/148560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=148560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=148560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=148560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}