TCPL Packaging invests US$0.38M in wholly-owned subsidiaries to support growth strategy

INDIA – TCPL Packaging Limited has announced strategic investments amounting to ₹3.49 crore (US$383,623) in its two wholly-owned subsidiaries, Creative Offset Printers Private Limited (COPPL) and Accura Technik Private Limited (ATPL), through rights issues.

The investments reinforce the company’s expansion strategy across specialized packaging and allied manufacturing segments, while maintaining TCPL’s 100% shareholding in both entities.

Creative Offset Printers Private Limited, incorporated in July 2002, operates in the niche packaging segment serving mobile phone manufacturing companies.

The subsidiary manufactures cartons and boxes for handset makers and select other customers, positioning it squarely within India’s fast-growing electronics manufacturing ecosystem.

With its registered office in New Delhi and a manufacturing facility in Greater Noida, COPPL is well placed to benefit from the continued scale-up of mobile phone production under government-led manufacturing initiatives.

TCPL said the investment will support capacity expansion and enable COPPL to capture a larger share of rising demand from electronics manufacturers.

Accura Technik Private Limited, incorporated in October 2023, represents TCPL Packaging’s strategic entry into the manufacturing of high-performance rotogravure cylinders and related components for the packaging industry.

The subsidiary has its registered office in Mumbai and a manufacturing facility in Silvassa. The investment will support the development of advanced capabilities at the facility, which is designed to serve TCPL’s internal gravure cylinder requirements while also supplying high-quality cylinders and components to external packaging converters.

This dual-purpose model is expected to enhance operational efficiency while creating an additional revenue stream.

TCPL said both investments were made through cash consideration via normal banking channels and qualify as related party transactions, given the wholly-owned subsidiary structure. However, there has been no change in shareholding percentages.

The transactions comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The announcement follows TCPL Packaging’s stable performance in Q2 FY26, despite near-term challenges.

The company reported consolidated revenue of ₹461 crore (US$50.67m) and profit after tax of ₹29 crore (US$3.19m), with an EBITDA margin of 15%.

Operations were temporarily impacted by revisions in GST slabs, which led to short-term disruption and softer domestic demand, particularly in September. Export markets also remained volatile during the quarter.

Meanwhile, TCPL’s Chennai greenfield plant continues to ramp up steadily and is currently operating at 40–50% utilization.

The facility strengthens the company’s footprint in southern India and enhances its capabilities in sustainable paperboard packaging. Management expects utilization to improve over the coming quarters, supported by growing regional demand.

Despite near-term headwinds, TCPL remains optimistic about demand recovery, aided by GST rationalization, improving domestic sentiment, and encouraging developments in global freight negotiations with key markets such as the US and EU.

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