Thursday, November 11, 2010


Packaging companies are one of the indirect beneficiaries of the increasing consumer spending ,mainly in FMCG sector . TCPL packaging is one of the mid size packaging companies based in Mumbai .Company having four plants – three in Silvassa and one in Haridwar.It is one of  largest manufacturers of printed folding cartons in India . Its products list include Printed blanks & outers, Folding cartons, Litho Lamination, Plastic cartons, Blister paper … etc .Company also exporting its products to countries like UK,USA, UAE. Many of the Indian FMCG majors are the customers of the company like  ITC, Radico Khaitan, Jagatjit Industries Ltd., Khoday's, Nestle, Glaxo Smithkline, Kellogg India, Heinz, Amul, Hindustan Unilever Ltd , Colgate, Godrej Sara Lee, Godrej Consumer Products, Cavin Kare, Marico, Himalayan Drugs ..etc . Even if this company is not so popular among investors ,it is one of the best play in listed packaging space . TCPL is growing steadily and paying dividend without any interruption for the past many years . Last full year ,company posted a turnover of Rs.188 Cr .PBDT is Rs.20 Cr and CEPS is Rs.21/- .For the current year ,company is expected to improve its financials mainly due to better demand situation and benefits from  recent capacity addition. At CMP of Rs.55 /- ,it is a good BUY for medium to long term.


  1. Dear Sir
    How do you find Delta Corp at current level?

  2. Cash EPS is 21.5 but EPS is only 5.7.

    net profit is wafer-thin: 0.9 Cr for the TTM

  3. hi value pick
    neocorp international appears to be beeter bet in packaging space with eps of 10 cmp=57 and promoters alloting warrants at 60rs and annual sales 200crores uninterrupted dividend of 50 paisa per share since 4 years.pls express ur views.

  4. dear valuepick sir, kindly give your latest review on investcorp and
    2.indage vintners.

    what is happening in this counter...any good news/ announcements?

    please opine

    thankyou sir

  5. are these kanorias related to the kanorias of srei ??

  6. Dear Pruthvi

    Gaming business have good potential , hope the same will be de-merged at a later stage to unlock value

  7. Cash flow is important than anything in a company

  8. Dear Senthisl

    Pioneer Investcorp is my old recommendation @ Rs.52/-One may book partial profit at current level.In case of Indage Vint,final court verdict is expected in last week of November

  9. thankyou sir.
    regarding pioneer investcorp,
    dont you think this is a good buy even at CMP considering the company credentials? is any goodthing happening in the company now?


  10. Pioneer is ok,but the sector is expected to under perform in near future.

  11. Hi TCPL Results came any comments on results.

    Thanks you

  12. Valueji,
    Whats your take on TCP Pack at CMP? Do you see any value at current price?

    pls suggest

  13. Dear VPji,

    I would like to have your long term views on Igarsi Motors at 307 and TV TODAY Network at 252.



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