TCPL Packaging reported Q3FY26 consolidated revenue of INR 471 Cr, with EBITDA up 15% YoY to INR 81 Cr and margins expanding to 17.2%. Domestic volumes grew low double-digits, offsetting subdued export volumes. Management noted healthy domestic demand and improving export sentiment from US/EU trade deals, though business ramp-up will take time. A gravure cylinder facility was commissioned, enhancing backward integration. Overall capacity utilization is 70-75%, with the Chennai plant's sub-50% utilization expected to improve. Strategic priorities include customer relationships, expanded footprint, and capital allocation. Management's outlook is cautiously optimistic on market opportunities, seeing a "year of stabilization" for exports.