TCPL Packaging hits 5.646 billion rupees in quarterly revenue driven by folding carton demand
TCPL Packaging reported a 20.2% revenue increase to ₹5.646 billion in Q2 FY27, driven by strong domestic demand for paperboard and folding cartons.
Record-breaking quarter for the Indian converter
The Indian folding carton and paperboard packaging market continues to show exceptional resilience and growth compared to the volatility seen in other global regions. TCPL Packaging Limited, one of the country's leading converters, closed the second quarter of its fiscal year 2027 (ended September 30, 2026) by breaking its historical revenue and operational profitability ceilings for the first time.
The company reported a consolidated total income of ₹5.646 billion (₹564.6 crore), representing a 20.2% year-on-year increase. Beyond the sheer sales volume, the metric that truly reflects the operational maturity of its paperboard facilities is the EBITDA, which reached ₹1.001 billion (₹100.1 crore) with a margin of 17.7%. This profitability level, marking a 27.5% jump from the same period last year, highlights the manufacturer's ability to absorb the raw material cost fluctuations that impacted the sector earlier in the year.
Domestic consumption fuels paperboard growth
Net profit (PAT) saw a massive 58% surge, landing at ₹453 million (₹45.3 crore). Saket Kanoria, Chairman and Managing Director of TCPL, confirmed that this momentum is fundamentally supported by sustained demand from domestic customers.
In the specific segment of folding cartons and paperboard solutions, TCPL has successfully capitalized on the growth of domestic consumption in India, particularly in the fast-moving consumer goods (FMCG) and food sectors. The company's strategy has focused on improving the utilization of its installed capacity and disciplined execution, allowing it to gain market share from less mechanized converters.
As the Indian paper and packaging industry moves toward 2027, TCPL's results confirm a clear trend. Converters that manage to scale their folding carton operations while maintaining strict control over their operating margins are in a prime position to lead the consolidation of the Asian market.
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