TCPL Packaging enters lithium-ion battery separator films biz, eyes ₹2,000 cr revenue at full scale

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Executive Director Akshay Kanoria said the initiative is part of the company's efforts to diversify its business portfolio and establish an additional long-term growth platform, with opportunities across electric mobility, grid-scale energy storage and other applications.

Folding cartons manufacturer TCPL Packaging Ltd is targeting revenue of up to ₹2,000 crore from its lithium-ion battery separator films business at full scale, with the company planning to expand the new venture over the next five to six years.

The initial investment is expected to generate revenue of up to ₹200 crore, Executive Director Akshay Kanoria said during the company's second-quarter (Q2) FY27 earnings conference call on November 6.

The company incorporated TCPL Energy Materials Limited, a wholly owned subsidiary, on September 24, 2026, to undertake the lithium-ion battery separator films business.

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Kanoria said the initiative is part of the company's efforts to diversify its business portfolio and establish an additional long-term growth platform, with opportunities across electric mobility, grid-scale energy storage and other applications.

"We are making progress in the initial stages of the project with a focus on establishing the necessary manufacturing infrastructure and building the basic capabilities required for this business," he said.

The company is currently taking a phased approach to the project, with its immediate priority being to establish the manufacturing foundation and build the capabilities needed to scale up.

"So, we are taking a baby step in the first phase, with sufficient land and infrastructure in place to scale up over the next five to six years and build a substantial revenue base," Kanoria said.

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