TCPL Packaging (NSE:TCPLPACK) Operating Income: ₹2,091 Mil (TTM As of Mar. 2026)

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NSE:TCPLPACK TCPL Packaging Ltd NSE:TCPLPACK
74 GF Score
Price ₹3,284.40
GF Value ₹3,088.79
Valuation Fairly Valued
! 3 Warning Signs
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What is TCPL Packaging Operating Income?

TCPL Packaging NSE:TCPLPACK +2.10% 74 Operating Income is ₹2,091 Mil as of Mar. 2026. GuruFocus rates NSE:TCPLPACK with a GF Score™ of 74/100 and a GF Value™ of ₹3,088.79 (Fairly Valued). The stock has 3 warning signs investors should review.

TCPL Packaging's Operating Income for the three months ended in Mar. 2026 was ₹488 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹2,091 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. TCPL Packaging's Operating Income for the three months ended in Mar. 2026 was ₹488 Mil. TCPL Packaging's Revenue for the three months ended in Mar. 2026 was ₹4,538 Mil. Therefore, TCPL Packaging's Operating Margin % for the quarter that ended in Mar. 2026 was 10.75%.

Good Sign:

TCPL Packaging Ltd operating margin is expanding. Margin expansion is usually a good sign.

TCPL Packaging's 5-Year average Growth Rate for Operating Margin % was 5.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TCPL Packaging's annualized ROC % for the quarter that ended in Mar. 2026 was 7.18%. TCPL Packaging's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.99%.


TCPL Packaging  (NSE:TCPLPACK) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

TCPL Packaging's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1951.996 * ( 1 - 46.02% )/( (0 + 14680.522)/ 1 )
=1053.6874408/14680.522
=7.18 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=17161.57 - 2280.876 - ( 200.172 - max(0, 6304.108 - 7927.002+200.172))
=14680.522

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

TCPL Packaging's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2319.728/( ( (0 + max(0, 0)) + (8863.441 + max(4787.41, 0)) )/ 1 )
=2319.728/( ( 0 + 13650.851 )/ 1 )
=2319.728/13650.851
=16.99 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4600.323 + 2428.98 + 690.417) - (2280.876 + 0 + 651.434)
=4787.41

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

TCPL Packaging's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=487.999/4538.334
=10.75 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


TCPL Packaging Operating Income Related Terms


TCPL Packaging Operating Income Historical Data

* Premium members only.

The historical data trend for TCPL Packaging's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

TCPL Packaging Operating Income Chart

TCPL Packaging Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 999.73 1,734.50 1,807.75 2,176.09 2,091.06

TCPL Packaging Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 537.00 529.77 477.67 595.62 488.00
NSE:TCPLPACK
74GF Score
TCPL Packaging Ltd NSE:TCPLPACK
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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TCPL Packaging Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹2,091 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₹2,091 Mil mean?
TCPL Packaging (NSE:TCPLPACK) has a Operating Income of ₹2,091 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TCPL Packaging and its competitors.
Is TCPL Packaging's Operating Income too high?
TCPL Packaging's current Operating Income is ₹2,091 Mil. Overall, TCPL Packaging has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does TCPL Packaging's Operating Income compare to SW and PKG?
TCPL Packaging's Operating Income of ₹2,091 Mil can be compared against companies in the Packaging & Containers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Packaging & Containers company?
A good Operating Income depends on the Packaging & Containers industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TCPL Packaging and its competitors. TCPL Packaging's current Operating Income is ₹2,091 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TCPL Packaging stock overvalued right now?
Based on GuruFocus' analysis, TCPL Packaging (NSE:TCPLPACK) is currently considered Fairly Valued. The stock's GF Value™ is ₹3,088.79, compared to a current price of ₹3,284.40 — trading 6.3% above its estimated fair value. The current Operating Income is ₹2,091 Mil. TCPL Packaging's overall GF Score™ is 74/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For TCPL Packaging (NSE:TCPLPACK), the current Operating Income is ₹2,091 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is TCPL Packaging (NSE:TCPLPACK) Overvalued in 2026?

Based on GuruFocus' analysis, TCPL Packaging stock appears to be overvalued. The current stock price of ₹3,284.40 is trading 6.3% above its estimated GF Value™ of ₹3,088.79. GuruFocus considers TCPL Packaging to be Fairly Valued.

Key valuation signals for NSE:TCPLPACK:

  • Operating Income: ₹2,091 Mil
  • GF Value™: ₹3,088.79 vs. price of ₹3,284.40 (6.3% above fair value)
  • GF Score™: 74/100 with 3 warning signs

No single metric tells the full story. See the NSE:TCPLPACK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TCPL Packaging Business Description

Other Exchanges 523301:India
Address 414, Senapati Bapat Marg, Empire Mills Complex, Lower Parel (West), Mumbai, MH, IND, 400 013
TCPL Packaging Ltd is engaged in the Printing and Packaging business. The company manufactures folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. Geographically, it derives a majority of its revenue from India. It serves FMCG, Food and Beverage, Liquor, Pharmaceuticals, and Other industries. It has one segment of business, which is Printing and Packaging.
74GF Score

Get the complete analysis for NSE:TCPLPACK

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹3,284.40
Price
₹3,088.79
GF Value