TCPL Packaging Limited — Earnings Release 2022

Feb 7, 2022

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07.02.2022

The Bombay Stock Exchange Ltd Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Security Code:-523301

The National Stock Exchange of India Ltd Exchange Plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra East, Mumbai 400 051 Trading Symbol:- TCPLPACK

Dear Sir(s),

Re:- Press Release on financial results of the Company for the quarter /

nine months ended 31.12.2021

We wish to inform you that Board of Directors of the company in their Meeting held on 07.02.2022, inter-alia considered and approved the Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter / nine months ended 31.12.2021.

Attached is press release on Q3 & 9M FY 22 financial results. We request you to take the above on your records in the interest of general public at large.

Thanking You

For TCPL Packaging Limited

NANAVATI SOHAN Digitally signed by NANAVATI SOHAN GAMANLAL GAMANLAL Date: 2022.02.07 18:17:40 +05'30'

Compliance Officer

Encl. As above

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CIN: L22210MH1987PLC044505

Corporate office: Empire Mills Complex, 414, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra 400013 India

PRESS RELEASE

TCPL announces Q3 & 9M FY22 Financial Results

9M FY22

Total Revenues stood at Rs. 753.2 crore, up 14.6% EBITDA stood at Rs. 108.1 crore, with margins at 14.3% Cash Profit improves by 20.7% to Rs. 86.1 crore

Mumbai, February 07, 2022 : TCPL Packaging Limited (TCPL), one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced its financial results for the quarter and nine months ended December 31, 2021.

Financial Performance Highlights:

Q3 FY2022 vs. Q3 FY2021 (Y-o-Y)

• Total Revenues increases by 12.9% to Rs 274.1 crore from Rs. 242.8 crore

• EBITDA improves by 10.0% to Rs. 41.6 crore compared to Rs. 37.8 crore

• EBITDA margins stood at 15.2% compared to 15.6%

• PBT increases by 28.8% to Rs. 20.6 crore from Rs. 16.0 crore

• Cash Profit grew by 20.1% to Rs. 34.8 crore compared to Rs. 29.0 crore

• EPS (Diluted) stood at Rs. 15.44 as against Rs. 10.94, up 41.1%

9M FY2022 vs. 9M FY2021 (Y-o-Y)

• Total Revenues increases by 14.6% to Rs 753.2 crore from Rs. 657.4 crore

• EBITDA improved by 9.7% to Rs. 108.1 crore compared to Rs. 98.5 crore o EBITDA margins stood at 14.3% compared to 15.0%

• PBT increases by 37.3% to Rs. 45.0 crore from Rs. 32.7 crore

• Cash Profit grew by 20.7% to Rs. 86.1 crore compared to Rs. 71.3 crore

• EPS (Diluted) stood at Rs. 33.78 as against Rs. 23.24, up 45.4%

Note: Standalone figures

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Commenting on the performance for Q3 & 9M FY22 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “We have delivered a healthy performance during the period under review despite the ongoing macro-economic and operating challenges. In 9M FY22, our topline expanded by 14.6% on a year-over-year basis and Cash Profits improved by 20.7% demonstrating the resilience of our business model. While the effect of rising input prices on gross margin continues, we have been able to largely limit the impact on overall profitability by taking adequate price hikes.

Following the successful acquisition of 60% in Creative Offset Printers Private Limited (COPPL), we have further invested in the Company’s Right Issue to increase our stake to 80% post allotment of shares. We remain very excited about our entry into the high-potential rigid box segment to target one of the fastest-growing smartphone markets in the world. We believe we can exponentially grow COPPL over the next two years by leveraging our scale and institutional capabilities in a largely unorganised industry.

Our expansion plans in the flexible division are on course to be completed soon. This combined with revival in demand should enable us to report strong performance in the upcoming fiscal.”

Key Developments

Successfully completes acquisition of Creative Offset Printers Private Limited (COPPL)

• Completes the acquisition of 60% stake in COPPL during the quarter

• In addition, TCPL has invested in the Rights Issue of the Company and has been allotted 2,12,405 partly paid-up equity shares, aggregating to Rs. 12 crore o Post allotment of shares, TCPL will hold 80.31% in COPPL

• Significantly strengthens TCPL’s diverse portfolio with the foray into the high-potential rigid boxes space targeting the growing smartphone & electronics industry

• With the manufacturing plants of both companies in close proximity, TCPL expects to drive various synergies including rationalization and optimization of various costs

Update on expansion

• Second manufacturing line in the Flexible Packaging segment is on track to be operational soon

• This will effectively double the segment’s capacity

• On track to establish one of the world's first state-of-the-art innovative Polyethylene (PE) blown film line at Silvassa

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• Based on eco-friendly Machine-Direction Orientation (MDO) technology, the film line is expected to drive demand for the Company’s Flexible Packaging segment given growing customer preference for sustainable & recyclable solutions

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About TCPL Packaging Limited

TCPL Packaging Limited (TCPL) (BSE: 523301, NSE: TCPLPACK), is one of India’s leading producers of sustainable packaging solutions for customers across industries. The Company partners with customers to provide paperboard-based packaging solutions including folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelfready packaging. TCPL has also ventured into the flexible packaging industry, with capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels.

Headquartered in Mumbai, India, TCPL has a PAN India presence with 7 state-of-the-art manufacturing facilities and marketing offices in key metro cities. Over the years, the Company has effectively diversified and broadened its operations to service a wide range of packaging products, while consistently adding new customers and increasing its share of business in established customers and markets.

For further information on the Company, please visit www.tcpl.in or contact:

Vivek Dave Anoop Poojari / Jenny Rose TCPL Packaging Limited CDR, India Tel: +91 70454 57686 Tel: +91 98330 90434 / +91 86899 72124 Email: vivek.dave@tcpl.in / investors@tcpl.in Email: anoop@cdr-india.com jenny@cdr-india.com

DISCLAIMER:

Certain statements and opinions with respect to the anticipated future performance of TCPL Packaging Limited (TCPL) in the press release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, import duties, litigation, labour relations etc. Actual results might differ substantially from those expressed or implied. TCPL will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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