Mold-Tek Packaging Q2 Results Review - Subdued Volume Growth Dented Earnings: IDBI Capital

IDBI Capital Report

Mold-Tek Packaging Ltd.’s Q2 FY25 result was below with our estimates on key parameters. The company reported 7% YoY volume growth at 9,381 metric tonne, also net sales realisation grew by 5% YoY to Rs 204/Kg. However, the management lowered its sales volume growth guidance to be in the range of lower double digit from ~15%, primarily due to delay in the execution of capacity expansion plans.

In Q2 FY25, the company has successfully bagged new orders from Companies like Navik Mills, Ibrahim Katen, Marksans Pharma ltd, Bio plus Life Sciences from food and Pharma Industry.

We have maintained our earnings estimates for FY25E/FY26E. Maintain Buy with a target price of Rs 956 (unchanged), assigning 35 times PER on FY26E.

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