Home / Markets / Commodities /  Multibagger stock rallies 17% to hit record high, up 115% in 6 months

Shares of TCPL Packaging Ltd rose more than 17% to hit a record high of 1,696 apiece on the BSE in Friday's early trading session. The stock has been in an upward momentum since the last few sessions as it has rallied more than 32% in a month.

For the quarter ended September 2022, the company reported a consolidated net profit of 39.5 crore, which more-than-doubled from 10.6 crore in the year ago quarter. Meanwhile, its consolidated revenues grew by 43% to 361.7 crore during the quarter as compared to 253 crore year-on-year (YoY). The company's EBITDA or earnings before interest, taxes, depreciation, and amortization stood at 57.5 crore, with margins at 16%.

Commenting on the performance for Q2 & H1 FY2023 Saket Kanoria, Managing Director, TCPL Packaging Limited said “TCPL has shown solid resilience and achieved yet another quarter of strong performance amidst a challenging operating environment. Our consolidated revenues grew by 43% Y-o-Y on the back of higher volumes and better realizations. In addition, we witnessed stability in our key raw materials, which enabled us to register robust profitability during the quarter. EBITDA improved by 60% Y-o-Y to Rs. 57.5 crore in Q2, translating into healthy margins of 16%."

“With our COPPL acquisition, the Company has entered the high-potential rigid box segment and is catering to several fast-growing end-user electronic industries. This is in-line with our growth through diversification strategy and strengthens our long-term growth prospects," he added.

TCPL Packaging Limited (TCPL) is a producer of packaging solutions for customers across industries. TCPL has also ventured into the flexible packaging industry, and producing printed cork-tipping paper, laminates, sleeves, and wrap-around labels. Headquartered in Mumbai, TCPL Packaging operates 8 manufacturing units across 5 locations & has marketing offices in key metro cities. The company acquired a majority stake (83% equity stake) in (Creative Offset Printer Private Limited) COPPL as of July 2022.

TCPL Packaging shares have given multibagger return by rallying more than 115% in six months period alone, whereas the multibagger stock is up about 217% in 2022 (year-to-date or YTD) so far.

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