Tpl Plastech Limited (TPLPLASTEH)

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Tpl Plastech Limited (TPLPLASTEH) · mywealthgrid

About

Tpl Plastech Limited operates in packaging within industrials, with recent quarterly revenues of ₹124 Cr and market cap of ₹603 Cr. The company demonstrates solid capital efficiency with ROE of 18.37% and maintains a low-leverage balance sheet (D/E 0.1), positioning it as a mid-sized player in industrial packaging.

Face value: ₹2

Market cap

₹537 Cr

P/E

17.8×

P/B

3.2×

Dividend yield

1.9%

ROE

18.4%

ROCE

24.7%

Debt / equity

0.1

OPM

11.4%

EPS (TTM)

₹3.9

Book value

₹21.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: Operating profit margin fell from 12.16% (Dec 2025) to 9.09% (Jun 2026), a 307 bps decline in six months. Verify whether rising input costs or pricing pressure is driving this deterioration and whether it will persist.
Earnings volatility: EPS ranged from ₹0.84 to ₹1.11 across recent quarters despite modest revenue variation (₹106.87–₹124.38 Cr). This profit swing reflects operational challenges — verify the drivers and consistency of profitability.
Low institutional participation: FII and DII holdings are minimal (0.47% and 0.04% respectively), suggesting limited institutional interest. Verify whether this reflects poor disclosure, analyst neglect, or genuine quality concerns.
Valuation relative to earnings quality: PE of 20.03 against a deteriorating OPM and mid-teens ROE warrants scrutiny. Verify against peer multiples and whether growth expectations justify the valuation.

Generated analysis · source review pending

Growth drivers

Revenue growth of ₹17.51 Cr (16.4%) from Sep 2025 (₹106.87 Cr) to Jun 2026 (₹124.38 Cr) signals near-term momentum — verify whether this reflects volume, pricing, or seasonal uplift, and its sustainability beyond the current quarter.
ROE of 18.37% indicates efficient capital deployment; if earnings can grow while maintaining this return rate, retained profits will compound shareholder value — verify reinvestment strategy and earnings growth outlook.
Low leverage (D/E 0.1) provides headroom to fund growth through incremental borrowing if management pursues expansion — verify whether capacity additions or market development are planned.
Consistent dividend payouts (annual since 2022) evidence stable cash generation from current operations — verify payout ratio and whether retained earnings can sustain both dividends and growth reinvestment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹68.9+5.6%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.5%
+Profit CAGR of 29.4% over the last 5 years
+Revenue CAGR of 19.9% over the last 5 years
+Dividend payout of 33.7% of profit
+High promoter holding of 74.9% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

69/100

Business quality: 57
Growth: 77
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	193	226	216	170	229	271	313	349	423
COGS	—	—	168	130	—	—	248	278	339
Gross profit	—	—	48	41	—	—	65	72	84
	—	—	24	20	—	—	29	31	36
	—	—	24	20	27	30	36	41	48
OPM %	—	—	11.3%	11.9%	11.7%	11%	11.5%	11.6%	11.4%
Depreciation	—	—	4	4	4	5	6	5	6
Interest	—	—	6	5	5	5	5	5	5
	—	—	0	0	0	1	0	0	0
Profit before tax	16	16	15	11	18	20	25	30	37
Tax	4	4	4	3	—	—	6	7	8
Tax %	26.1%	27.5%	27.8%	28.1%	—	—	22.1%	21.7%	22.1%
	12	11	11	8	13	16	20	24	29
PAT margin %	6.3%	5.1%	5%	4.7%	5.8%	5.9%	6.3%	6.8%	6.9%
EPS (₹)	—	—	13.8	10.3	—	—	2.5	3	3.7
EPS adjusted (₹)	—	—	—	1	1.7	2.1	2.5	3	3.7
	—	—	25.4%	34.1%	—	—	31.5%	33.1%	34.9%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	16	16	16	16	16
Reserves	84	87	100	115	132	153
	29	17	38	25	44	18
	70	87	71	76	54	69
Total equity & liabilities	190	207	224	232	245	256
	58	57	49	84	93	90
CWIP	—	—	—	1	3	6
Investments	—	—	—	0	0	1
	—	—	—	147	149	160
Total assets	190	207	224	232	245	256

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	21	23	-2	29	16	46
	-4	-4	-10	-6	-22	-6
	-19	-19	12	-24	6	-40
Net cash flow	-2	-0	-0	0	-0	-0
Free cash flow	17	—	—	13	-8	36
CFO / Operating profit %	101.6%	86.1%	-5.9%	81.2%	40.2%	95%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2024 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Composite Products	0	0	—	0
Polymer Products	0	0	—	0

SegmentFigure

Composite Products · revenue

₹ crore by fiscal year

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	22.3%	23.8%	—	—	20.8%	20.5%	19.8%
EBITDA margin %	—	11.3%	11.9%	11.7%	11%	11.5%	11.6%	11.4%
EBIT margin %	—	9.6%	9.7%	9.7%	8.9%	9.7%	10%	10%
PAT margin %	5.1%	5%	4.7%	5.8%	5.9%	6.3%	6.8%	6.9%
Working capital
Receivable days	—	—	—	—	—	64	62	54
Inventory days	—	—	—	—	—	103	81	74
Payable days	—	—	—	—	—	83	49	57
NWC days	—	—	—	—	—	83	95	71
Leverage
Current ratio	—	—	1.32	1.42	1.71	1.83	1.71	1.98
Debt to EBITDA	—	—	1.41	0.65	1.27	0.7	1.07	0.37
Debt to equity	—	—	0.31	0.17	0.33	0.19	0.3	0.1
Interest coverage	—	3.5	3	4.9	5.1	5.7	7	8.2
Asset turnover	—	—	0.9	1.11	1.21	1.35	1.42	1.65
Return ratios
Return on assets %	—	—	4.2%	6.4%	7.1%	8.6%	9.6%	11.4%
Return on capital employed %	—	—	15.7%	19.9%	19.2%	20.6%	22.1%	24.7%
Return on equity %	—	—	8.7%	13%	13.9%	15.2%	16%	17.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%	74.86%
	0%	0%	0.01%	0.12%	0.26%	0.03%	0%	0.02%	0%	0.45%	0.5%	0.47%
	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.04%	0.04%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.06%	25.06%	25.05%	24.94%	24.8%	25.03%	25.06%	25.04%	25.06%	24.61%	24.6%	24.63%
No. of shareholders	—	—	—	—	—	—	—	—	31,829	30,566	29,630	29,037

Promoter holding up 0 percentage points since Sep 2023.

4 deals · 3 Nov 2023 – 6 Nov 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
6 Nov 2023	CRONY VYAPAR PVT LTD	Bulk	NSE	Sell	8,59,581	₹56.14	₹4.83 Cr
6 Nov 2023	CRONY VYAPAR PVT LTD	Bulk	NSE	Buy	7,90,222	₹56.50	₹4.46 Cr
3 Nov 2023	CRONY VYAPAR PVT LTD	Bulk	NSE	Buy	5,88,518	₹55.04	₹3.24 Cr
3 Nov 2023	CRONY VYAPAR PVT LTD	Bulk	NSE	Sell	3,26,710	₹55.49	₹1.81 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. M. K. WadhwaNon-Executive - Non Independent Director-Chairperson
Mr. Sanjaya KulkarniNon-Executive - Non Independent Director
Mr. Mangesh SarfareNon-Executive - Non Independent Director
Pawan AgarwalChief Financial Officer
Mr. Deepak BakhshiNon-Executive - Independent Director
Mr. Surya Pratap GuptaNon-Executive - Independent Director
Mrs. Monika SrivastavaNon-Executive - Non Independent Director
Mr. Pradip Kumar DasNon - Executive Independent Director
Mr. Jayesh AsharChief Executive Officer
Hemant SoniHead-Legal & Company Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Tpl Plastech Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

19

Final dividend15 Sept 2026 · ex-date₹1.3
Final dividend2 Sept 2025 · ex-date₹1
Final dividend17 Sept 2024 · ex-date₹0.8
Final dividend14 Sept 2023 · ex-date₹0.6
Final dividend20 Sept 2022 · ex-date₹2
Final dividend1 Sept 2021 · ex-date₹3.5
Final dividend21 Sept 2020 · ex-date₹3.5
Final dividend19 Sept 2019 · ex-date₹3.5
Final dividend12 Sept 2018 · ex-date₹3.5
Final dividend21 Sept 2017 · ex-date₹3
Final dividend21 Sept 2016 · ex-date₹2.5
Final dividend16 Sept 2015 · ex-date₹2
Final dividend18 Sept 2014 · ex-date₹2
Final dividend12 Sept 2013 · ex-date₹2
Final dividend6 Sept 2012 · ex-date₹2
Final dividend8 Sept 2011 · ex-date₹2
Final dividend26 Aug 2010 · ex-date₹2
Final dividend27 Aug 2009 · ex-date₹2
Final dividend28 Aug 2008 · ex-date₹2

1

Board meeting to consider results4 Aug 2026

1

Face value ₹10 → ₹219 Oct 2022 · ex-date

1–3 of 4

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

30 Sept 2026, 2:49 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

29 Sept 2026, 6:59 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

29 Sept 2026, 6:56 pmBoard Meeting

Board Meeting Outcome for Scheme Of Amalgamation (Merger By Absorption) Of TPL Plastech Limited With Time Technoplast Limited

Outcome of Board Meeting PDF

22 Sept 2026, 8:20 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

22 Sept 2026, 7:32 pmCompany Update

Chairman Speech Delivered At The 33Rd Annual General Meeting

General PDF

4 Sept 2026, 4:21 pmCorp. Action

Fixes Record Date For Dividend

Record Date PDF

Date	Category	Subject	Filing
30 Sept 2026, 2:49 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 6:59 pm	Company Update Scheme of Arrangement	Announcement under Regulation 30 (LODR)-Scheme of Arrangement

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Tpl Plastech Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Composite Products · revenue

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends19

Board meetings1

Stock splits1

Announcements

Dividends19

Board meetings1

Stock splits1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Segment results

Composite Products · revenue

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

19

1

1

19

1

1