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IDBI Capital Report
Mold-Tek Packaging Ltd.'s Q4 FY23 result was inline with our estimates on key parameters. After a sluggish sales volume in Q3 due to weak paint division demand, the company's Q4 FY23 sales volume off-take was impressive.
Mold-Tek Packaging reported 8%/20% YoY/QoQ volume growth at 9,053 million tonne. The management guided sales volume to be in the range of 15%-20% in near term. Net sales increased by 3.8% YoY to Rs 1,847 million, while Ebitda came in at Rs 356 million, higher by 12.1% YoY.
Mold-Tek Packaging reported net profit of Rs 230 million, a healthy growth of 32.9% over Q4 FY22. We have marginally increased our earnings estimates for FY24E/FY25E given upbeat outlook by the management.
The stock is poised to give descent returns in near term owing to healthy earnings growth aided by capacity expansion.
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