TCPL Packaging reported its consolidated financial results for the fourth quarter and year ended March 31, 2026, revealing a decline in annual profitability even as revenues registered growth. The company's consolidated net profit for FY26 stood at ₹97.8 crore, compared to ₹143.0 crore in the previous year, marking a 32% contraction. For Q4 FY26, net profit fell to ₹21.7 crore from ₹38.0 crore in the same quarter of the previous year. Total income for the year grew to ₹1,835.6 crore from ₹1,784.6 crore, while Q4 income improved to ₹465.2 crore from ₹426.0 crore. The Board recommended a dividend of ₹25 per equity share for the financial year ended March 31, 2026, subject to shareholder approval.

Q4 and FY26 Financial Performance

The results highlight a compression in operating margins during the year, impacted by elevated raw material costs and a timing lag in passing on cost inflation. EBITDA for FY26 stood at ₹317.7 crore, with a margin of 17.3%, slightly up from 17.2% in the previous year. In Q4 FY26, EBITDA came in at ₹80.8 crore against ₹75.7 crore in the year-ago period, while the EBITDA margin narrowed to 17.4% from 17.8% YoY. The divergence between revenue growth and profit decline points to rising cost pressures weighing on the company's bottom line.

The following table summarises the key financial metrics for the quarter and full year:

Management Commentary and Outlook

Commenting on the performance, Mr. Saket Kanoria, Chairman & Managing Director, noted that domestic business volume growth remained ahead of underlying consumer market growth, which helped mitigate the effect of geopolitical disruptions in the Middle East region. While exports were impacted in the quarter, the company strengthened its presence across other international markets. Margin performance reflected elevated raw material costs and the timing lag in passing on cost inflation. The company remains focused on calibrated pricing actions, product mix improvement, and operating efficiencies to support margin recovery.

Adding to the strategic direction, Chandrasekaran highlighted that the company is focused on achieving an EBITDA margin of over 20%, with growth expected to be driven by increased sales volumes and strategic price increases. The flexible packaging business delivered a strong performance during the year with healthy capacity utilisation. The paperboard segment's Chennai Greenfield facility continues to scale up, and the gravure cylinder facility at Silvassa has ramped up well, strengthening backward integration. Domestic demand conditions remain encouraging, with a focus on expanding footprint and pursuing new growth opportunities.

ESG and Corporate Updates

TCPL Packaging Limited strengthened its ESG commitments by participating in the United Nations Global Compact (UNGC) for the period April 2026 to March 2027, aligning with responsible business practices. The company was also awarded the EcoVadis Bronze Medal in its debut sustainability assessment, placing it among the top 35% of companies assessed globally. The company has set a long-term goal of achieving Net Zero for Scope 1 and 2 emissions by 2040.

In operational developments, the company reported a 50% increase in renewable energy adoption in FY25 and a 7.5% reduction in water intensity. The firm invested ₹5.10 crore in sustainability-focused R&D and sourced 57.71% biodegradable raw materials. TCPL received several awards in FY26, including the Most Preferred Workplace Award 2025-2026 and six honors at the SIES SOP Star Awards 2026.

Board Decisions and Corporate Actions

The Board of Directors, meeting on May 28, 2026, approved the audited financial results for the quarter and year ended March 31, 2026. Singhi & Co., Chartered Accountants, issued an unqualified report on the audited financial results. Alongside the results, the Board approved the re-appointment of Mr. S G Nanavati and Mr. Vidur Kanoria as Executive Directors for a term of three years commencing from June 1, 2026, and May 26, 2026, respectively, subject to shareholder approval.

The 38th Annual General Meeting is scheduled to be held on Tuesday, August 11, 2026, via Video Conference. The Register of Members and Share Transfer Books will remain closed from Wednesday, August 5, 2026, to Tuesday, August 11, 2026. The record date for determining dividend eligibility is set for Tuesday, August 4, 2026. A Q4 & FY2026 earnings conference call was held on Wednesday, June 3, 2026. The audio recording of the conference call is available on the company's website. The company confirmed that no unpublished price sensitive information was shared during the call.

TCPL Packaging Limited has submitted its mandatory compliance certificate to depositories for the quarter ended March 31, 2026, in accordance with SEBI regulatory requirements. The filing demonstrates the company's adherence to prescribed depository regulations and operational compliance standards.

Regulatory Compliance Filing

The company filed the compliance certificate on April 8, 2026, with both Central Depository Services (India) Limited and National Securities Depository Ltd. The submission was made by Compliance Officer Harish Venkappa Anchan, fulfilling obligations under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.

Registrar Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, issued the compliance certificate on April 3, 2026. As the company's registrar and transfer agent, MUFG Intime confirmed proper handling of dematerialisation processes during the quarter.

The registrar's certificate confirms that:

• Securities received from depository participants for dematerialisation were properly confirmed to depositories
• All security certificates received were mutilated and cancelled after due verification
• Depository names were substituted in the register of members within prescribed timelines
• Securities comprised in certificates have been listed on relevant stock exchanges

Stock Exchange Notifications

The compliance filing was copied to both major stock exchanges where TCPL Packaging shares are traded. The company maintains listings on The Bombay Stock Exchange Ltd with Security Code 523301 and The National Stock Exchange of India Ltd with Trading Symbol TCPLPACK.

Corporate Information

TCPL Packaging Limited operates from its registered office at Empire Mills Complex, 414 Senapati Bapat Marg, Lower Parel, Mumbai. The company holds CIN L22210MH1987PLC044505 and maintains regular compliance with all applicable SEBI regulations governing listed entities and their depository operations.