Mold-Tek Packaging Q3 Review - Strong Volumes Ahead With Recovery In Paints; Revise To Buy: Axis Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Mold-Tek Packaging Ltd.'s Q3 FY24 numbers missed our estimates on all fronts as lower volumes led to an operational miss.The company reported revenue of Rs 165.5 crore (up7%/ down 3% YoY/QoQ), missing our estimates by 6%. Ebitda came in at Rs 30 crore (up 7%/ down 6% YoY/QoQ), and missed our estimates by 11%.Mold-Tek Packaging profit after tax stood at Rs 14 crore, down 13%/10% YoY/QoQ due to higher depreciation and higher Finance cost. This was on account of a set of new facilities which are to added..Valuation & Recommendation:We have marginally revised FY25/26E estimates upwards to account for the growth revival, we roll forward our estimated to of 28 times September 26E on account of stable future growth levers which bring us to revise our our 'Hold' call rating on the stock to 'Buy' with a revised target price is Rs 1030/share, which implies an upside of 18% from the current market price..Key risks to our estimates and TPSlower ramp-up or de-growth in customer industries as the company has strong client concentration.Delay in setting up new facilities affecting the return on capital employedLower volume off-take could have a negative effect onoperational leverage..Click on the attachment to read the full report:.Tata Motors Reduces EV Prices By Up To Rs 1.2 Lakh As Battery Prices Fall.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mold-Tek Packaging Q3 Review - Strong Volumes Ahead With Recovery In Paints; Revise To Buy: Axis Securities

Slower ramp-up or de-growth in customer industries as the company has strong client concentration.

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Mold-Tek Packaging Q3 Review - Strong Volumes Ahead With Recovery In Paints; Revise To Buy: Axis Securities

Slower ramp-up or de-growth in customer industries as the company has strong client concentration.

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