TCPL Packaging Limited — Regulatory Filings 2021

Feb 5, 2021

05.02.2021

Dalal Street, Bandra Kurla Complex, Mumbai 400 001 Bandra East, Mumbai 400 051 Security Code:-523301 Trading Symbol:- TCPLPACK

The Bombay Stock Exchange Ltd The National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block

Dear Sir(s),

Re:-Outcome of Board Meeting

We wish to inform you that meeting of the Board of Directors, of the company was held today at 12.30 p.m. and concluded at 2.05 p.m.

The Un-Audited Standalone and Consolidated Financial Results of the Company, for the quarter and nine months ended 31.12.2020 duly reviewed and recommended by the Audit Committee, were considered and approved by the Board, at their respective meetings held today. The Review Report of the Company's Statutory Auditors was taken on record.

Enclosed is the Un-Audited Standalone and Consolidated Financial Results and the Review Report for the quarter and nine months ended 31.12.2020.

Kindly take the same on your record and acknowledge the receipt.

For TCPL Packaging Limited

NANAVATI SOHAN GAMANLAL Digitally signed by NANAVATI SOHAN GAMANLAL Date: 2021.02.05 14:10:54 +05'30'

Compliance Officer

Encl. As above

Empire Mills Complex 414, Senapati Bapat Marq. Lower Parel Mumbai 400013, India Tel +91 22 61646000 Fax $+912224935893$ Email tcpl@tcpl.in Website : www.tcpl.in CIN: L22210MH1987PLC044505

TCPL PACKAGING LIMITED

STATEMENT OF STANDALONE UNAUDITED RESULTS FOR QUARTER/NINE MONTHS ENDED 31/12/2020

						$(5 \text{ in } \text{Lacs})$
	Quarter Ended			Nine months ended		Year Ended
PARTICULARS	31/12/2020	30/09/2020	31/12/2019	31/12/2020	31/12/2019	31/03/2020
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
REVENUE
Revenue from operations	23753.41	23976.56	23267.13	64315.93	66130.11	87026.79
Other Operating Income	529.18	530.05	528.75	1426.13	1553.73	1951.49
Other income	80.81	72.40	8.50	178.52	127.26	210.51
Total Income from Operations (Net)	24363.40	24579.01	23804.38	65920.58	67811.10	89188.79
EXPENSES
Cost of materials consumed	13160.26	13627.80	14034.86	36583.27	40496.98	53182.03
Purchases of stock-in-trade	12.05	18.36	27.96	30.41	48.28	55.95
Changes in inventories of finished goods, work-	477.88	247.62	(377.48)	378.25	(998.38)	(1190.82)
in-process
Employee benefits expense	2351.31	2156.19	2129.05	6753.88	6435.38	8705.91
Finance costs	965.79	936.66	1008.26	2896.86	2757.51	3740.09
Depreciation and amortization expense	1299.08	1276.37	1270.93	3855.60	3596.99	4839.92
Other expenses	4501.01	4742.48	4238.58	12148.46	11863.69	15627.17
Total Expenses	22767.38	23005.48	22332.16	62646.73	64200.45	84960.25
Profit before tax	1596.02	1573.53	1472.22	3273.85	3610.65	4228.54
Tax expense
Current Tax	637.63	579.50	361.32	1246.35	822.15	1080.00
Deferred Tax	(36.73)	(56.29)	48.24	(87.74)	330.27	(503.32)
Profit for the period after tax	995.11	1050.32	1062.66	2115.23	2458.23	3651.86
Other Comprehensive Income(OCI)
A. Items will not to be reclassified to profit and	(24.44)	20.69	(7.25)	(26.68)	(1.74)	(16.21)
loss in subsequent periods (Net of tax): B. Items will be reclassified to profit and loss in
subsequent periods (Net of tax):	6.72	118.52	(18.45)	232.66	(3.72)	(142.57)
Total Comprehensive Income for the period	977.39	1189.53	1036.96	2321.21	2452.77	3493.08
Paid-up Equity Share Capital (Face value of ₹ 10/-
leach)	910.00	910.00	910.00	910.00	910.00	910.00
Reserves- Excluding Revaluation reserves as per
previous financial year						26019.77
Earning per Share
Basic & Diluted ₹	10.94	11.54	11.68	23.24	27.01	40.13

Notes:

[1] The above unaudited quarterly results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on February 5, 2021. Limited review as required under regulation 33 of SEBI (Listing obligation and disclosure requirement) Regulations, 2015 has been carried out by auditors of the Company.

[2] The Company is engaged in single segment of Packaging.

[3] During the quarter, 39,90,000 equity shares at Rs.10 each were alloted by wholly owned subsidiary TCPL Innofilms Private Limted on December 5, 2020. The subsidiary Company is yet to commence business operations.

Place: Mumbai Date: February 5, 2021.

kagin SAKETK SANCT Digitally signed
UMAR by SAKETKUMAR

KANORI Date: 2021.02.05 $\alpha$ MUMBA 14:12:22 +05'30" A

for TCPL Packaging Limited

Saket Kanoria Managing Director DIN: 0004801

B2 402 B, Marathon Innova, 4th Floor, Off Ganpatrao Kadam Marg, Opp. Peninsula Corporate Park, Lower Parel, Mumbai - 400 013. India Tel: +91 (0) 22-6662 5537 / 38 E-mail: mumbai@singhico.com website: www.singhico.com

Independent Auditor's Review Report on the Quarterly and year to date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS TCPL PACKAGING LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of TCPL PACKAGING LIMITED ("the Company") for the quarter and nine month ended December 31, 2020 (the "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies, Act 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion based on our review of such interim standalone financial information.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('IND AS') prescribed under section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

For Singhi & Co.

Chartered Accountants Firm Registration No. 302049E

Sameer Mahajan

Partner Membership No. 123266 UDIN: 21123266AAAAAN8467

Place: Mumbai Date: February 5, 2021

Empire Mills Complex 414, Senapati Bapat Marg, Lower Parel Mumbai 400013, India. $\div$ +91 22 61646000 Tel $+912224935893$ Fax Email : tcpl@tcpl.in Website: www.tcpl.in CIN: L22210MH1987PLC044505

TCPL PACKAGING LIMITED STATEMENT OF CONSOLIDATED UNAUDITED RESULTS FOR QUARTER/NINE MONTHS ENDED 31/12/2020

						$(3 \times 1)$
	Quarter Ended			Nine months ended	Year Ended
PARTICULARS	31/12/2020	30/09/2020	31/12/2019	31/12/2020	31/12/2019	31/03/2020
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
REVENUE
Revenue from operations	23753.41	23976.56	23267.13	64315.93	66130.11	87026.79
Other Operating Income	529.18	530.05	528.75	1426.13	1553.73	1951.49
Other income	80.81	72.40	8.50	178.52	127.26	210.51
Total Income from Operations (Net)	24363.40	24579.01	23804.38	65920.58	67811.10	89188.79
EXPENSES
Cost of materials consumed	13160.26	13627.80	14034.86	36583.27	40496.98	53182.03
Purchases of stock-in-trade	12.05	18.36	27.96	30.41	48.28	55.95
Changes in inventories of finished goods, work-in-
process	477.88	247.62	(377.48)	378.25	(998.38)	(1190.82)
Employee benefits expense	2351.31	2156.19	2129.05	6753.88	6435.38	8705.91
Finance costs	965.79	936.66	1008.26	2896.86	2757.51	3740.09
Depreciation and amortization expense	1299.08	1276.75	1270.93	3855.98	3596.99	4839.92
Other expenses	4501.01	4742.48	4238.58	12148.46	11863.69	15627.17
Total Expenses	22767.38	23005.86	22332.16	62647.11	64200.45	84960.25
Profit before tax	1596.02	1573.15	1472.22	3273.47	3610.65	4228.54
Tax expense
Current Tax	637.63	579.50	361.32	1246.35	822.15	1080.00
Deferred Tax	(36.73)	(56.29)	48.24	(87.74)	330.27	(503.32)
Profit for the period after tax	995.11	1049.94	1062.66	2114.85	2458.23	3651.86
Other Comprehensive Income(OCI)
A. Items will not to be reclassified to profit and
loss in subsequent periods (Net of tax):	(24.44)	20.69	(7.25)	(26.68)	(1.74)	(16.21)
B. Items will be reclassified to profit and loss in subsequent periods (Net of tax):
	6.72	118.52	(18.45)	232.66	(3.72)	(142.57)
Total Comprehensive Income for the period	977.39	1189.15	1036.96	2320.83	2452.77	3493.08
Paid-up Equity Share Capital (Face value of ₹ 10/-
each)	910.00	910.00	910.00	910.00	910.00	910.00
Reserves- Excluding Revaluation reserves as per
previous financial year						26019.77
Earning per Share
Basic & Diluted ₹	10.94	11.54	11.68	23.24	27.01	40.13

Notes:

[1] The above Consolidated Financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 5, 2021. Limited review as required under regulation 33 of SEBI (Listing obligation and disclosure requirement) Regulations, 2015 has been carried out by auditors of the Company.

[2] The Company is engaged in single segment of Packaging.

[3] During the quarter, 39,90,000 equity shares at Rs.10 each were alloted by wholly owned subsidiary TCPL Innofilms Private Limted on December 5, 2020. The subsidiary Company is yet to commence business operations.

Place: Mumbai Date: February 5, 2021.

kagi SAKETKU Digitally signed

MAR KANORIA ö KANORIA 14:12:45 +05'30" Ō. MUMBAI ý.

for TCPL Packaging Limited Saket Kanoria Managing Director DIN: 0004801

B2 402 B, Marathon Innova, 4th Floor, Off Ganpatrao Kadam Marg, Opp. Peninsula Corporate Park, Lower Parel, Mumbai - 400 013. India Tel: +91 (0) 22-6662 5537/38 E-mail: mumbai@singhico.com website: www.singhico.com

Independent Auditor's Review Report on Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of TCPL Packaging Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of TCPL Packaging Limited ( hereinafter referred to as "the Holding Company") and its subsidiary (the Holding Company and its Subsidiary together referred to as "the Group") for the quarter and nine months ended December 31, 2020 ("the Statement") attached herewith being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a conclusion on these financial results based on the review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the following subsidiary:
• i) TCPL Innofilms Private Limited.

• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the financial information of subsidiary company, included in the statement, whose financial information reflects total revenue of Rs. "NIL" lakhs and total comprehensive profit / loss after tax of Rs. "Nil" for the quarter ended 31st December 2020 as considered in this statement.

These unaudited interim financial results and other unaudited financial information of subsidiary have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of the subsidiary is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanation given to us by the Management, these interim financial results are not material to the Group

Our conclusion on the Statement is respect of matters stated in para 6 is not modified on our reliance on the financial information / financial result certified by the management.

Chartered Accountants Firm Registration No. 302049E

Sameer Mahajan Partner

For Singhi & Co.

Membership No. 123266 UDIN: 21123266AAAAAO8384

Place: Mumbai Date: February 5, 2021