Makes plastic packaging materials, generating FY26 revenue from operations of ₹18,405.68 lakh, down 9.3% from ₹20,288.62 lakh in FY25. Profit after tax fell sharply to ₹96.98 lakh from ₹268.62 lakh in the prior year, dragged by lower revenue and a ₹52.24 lakh exceptional charge tied to new Labour Codes. Raw materials account for 56.1% of revenue, pointing to polymer or resin as the dominant input, while other operating expenses run at 22.6%, employee costs at 5.5%, and depreciation at 3.0% of revenue. The company invested ₹1,305.14 lakh in capex in FY26, well above historical levels, even as earnings weakened. It is a BSE-listed, Ahmedabad-based packaging firm with promoter Ms. Sushma Chhajer holding 39.33% and promoter-cum-MD Mr. Rishab Chhajer holding 14.83%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plastic packaging materials. Small-cap, asset-light-in-margin plastic packaging manufacturer
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 171 | 164 | 176 | 203 | 184 |
| EBITDA (ex other income) | 14 | 9 | 11 | 13 | 12 |
| margin % | 8.3 | 5.5 | 6.3 | 6.3 | 6.8 |
| Owners' profit | 8 | 3 | 3 | 3 | 1 |
| EPS, as reported (₹) | 15.51 | 7.10 | 6.19 | 5.50 | 1.98 |
| ROE % · ROCE % | 13.9 · 16.4 | 6.0 · 9.1 | 5.0 · 9.2 | 4.2 · 9.4 | 1.5 · 7.1 |
| Debt / equity (x) | 0.67 | 0.57 | 0.74 | 0.94 | 0.99 |
| Cash from operations | 4 | 9 | 0 | 6 | 9 |
| Capex | (3) | (2) | (8) | (6) | (13) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 48 | 53 | 63 | 48 | 44 | 50 | 42 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 0 | (0) |
| Net profit | 1 | 1 | 1 | 1 | 0 | 1 | 0 | (0) |
| EPS (₹) | 1.20 | 1.05 | 1.57 | 1.67 | 0.87 | 1.08 | 0.11 | 0.08 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EPL LIMITED | 7,674 | 15.7 | 2.68 | 8.3 | 13.7 | 13.6 | 9.0 | 19.1 |
| AGI GREENPAC LIMITED | 4,943 | 13.7 | 2.05 | 7.5 | 14.6 | 16.5 | — | 23.4 |
| UFLEX LIMITED | 4,730 | 6.9 | 0.58 | 6.9 | 3.9 | 2.7 | 11.6 | 17.1 |
| POLYPLEX CORPORATION LTD | 3,541 | 22.8 | 0.50 | 9.5 | 0.6 | 0.3 | 7.6 | 14.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 25 Aug 2026 · Newspaper clippings of 42nd AGM notice and e-voting details filed with BSE | compliance | minimal | — | — |
| 24 Aug 2026 · 42nd AGM notice and Annual Report FY 2025-26 submitted | board shareholder meetings | medium | — | — |
| 24 Aug 2026 · 42nd AGM notice and Annual Report 2025-26 submitted | board shareholder meetings | medium | — | — |
| 24 Aug 2026 · 42nd AGM notice and Annual Report 2025-26 filed with BSE | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Newspaper publication on SEBI special window for physical share transfers | compliance | minimal | — | — |
| 12 Aug 2026 · Gujarat Craft Q1 FY27 PAT drops 86% YoY to about 5.7 lakhs | results | high | — | — |
| 12 Aug 2026 · Gujarat Craft Q1 FY27: Revenue down 7.7% YoY, PAT plunges to Rs 5.70 lakh | results | high | — | — |
| 5 Aug 2026 · Board Meeting on Aug 12, 2026 to Consider Q1 FY27 Results | results | low | — | — |
| 3 Aug 2026 · Newspaper ad filed for 42nd AGM on September 23, 2026 | compliance | minimal | — | — |
| 29 Jul 2026 · Board outcome: new CFO, secretarial auditor appointed; 42nd AGM on 23 Sep, record date 16 Sep | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| TCPL PACKAGING LIMITED |
| 3,515 |
| 30.4 |
| 4.89 |
| 13.4 |
| 13.6 |
| 13.0 |
| 15.4 |
| 17.8 |
| XPRO INDIA LIMITED | 3,028 | 91.7 | 3.79 | 64.6 | 2.4 | 2.8 | 6.2 | 11.4 |
| JINDAL POLY FILMS LIMITED | 2,936 | 143.6 | 0.72 | 10.0 | 0.6 | 0.8 | 8.5 | 23.0 |
| COSMO FIRST LIMITED | 2,294 | 13.6 | 1.42 | 8.0 | 9.6 | 6.4 | 9.8 | 12.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 44.3 | 17.6 | 58 of 69 | 16% |
| P/B | 0.7 | 1.4 | 13 of 61 | 78% |
| ROCE | 1.3 | 7.3 | 58 of 71 | 19% |
| ROE | 1.5 | 6.8 | 54 of 66 | 19% |
| Debt / Equity | 1.0 | 0.3 | 56 of 66 | 15% |
| EBITDA margin | 6.9 | 12.1 | 48 of 62 | 23% |
| Revenue growth | (32.8) | 14.0 | 55 of 61 | 10% |
| Profit growth | (104.5) | 23.4 | 54 of 60 | 10% |
| Market cap | 46 | 131 | 49 of 73 | 33% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
