The company also reported a revenue of Rs 206-crore in the Q1 of 2019-2020.

Akshay Kanoria, executive director at TCPL, said, “We are excited to inaugurate our fifth line in Haridwar. We see an increasing trend towards higher added value in packaging, particularly for gift packs and premium items. Customers want something different on their packaging, some are looking for anti-counterfeit solutions as well. This kind of highly configured press is our answer to changing customer needs.

Apart from the printing machine, TCPL has also increased capacity in a foil stamping, added a Bobst Novacut 106 - E 3.0 die-cutting machine, and an Expertfold 80 A1 folder-gluer with SpeedWave for high-speed lock bottom boxes processing.

“We have also added new inspection machines for digital blank sorting and inspection,” said Kanoria.

TCPL released the Q1 2019 financial numbers, reporting revenue of Rs 206-crore, a growth of 15.7% over the corresponding quarter of the previous year.

Saket Kanoria, managing director at TCPL, said, it has been a very healthy growth track record and that growth has continued in the Q1 of this year. “This is despite the sluggish conditions in the general market where the growth of our customer’s products have been slightly muted. We continue to believe in the business, we continue to invest and build new capacities and we have recently commissioned new plant in Goa.”
 

Kanoria added, “I would like to mention is that our compound average growth rate in the last 10 years has been 18% year-on-year and most of our customers are reporting a growth of 6% to 8%. So we feel that we should be able to sustain a growth rate much higher than their growth, because we add new categories and new customers all the time and even though we have fairly well spread out.”

The Koenig & Bauer Rapida 106 press installed at TCPL’s Haridwar plant is the first of the three to be installed at different plants. The second will be installed at Goa and the third at Silvassa, both expected by the end of this year.