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IDBI Capital Report
Mold-Tek Packaging Ltd.'s Q3 FY22 result was marginally lower than our estimates as price-hike taken in earlier months led to softness in demand in paint segment in a seasonally weak quarter.
However, performance of food and fast moving consumer goods segment further improved aiding overall quarterly performance.
Net sales increased by 20% YoY to Rs 1,603 million, while Ebitda came in at Rs 316 million, higher by 14.2% YoY.
Mold-Tek Packaging reported net profit of Rs 167 million, growth of 11.4% over Q3 FY21. The management remained confident to grow at 18-20% in volume as the company has received many new orders from existing as well as new clients.
Mold-Tek Packaging's capacity addition plan at Mysore, Vizag and Kanpur for paints and a pilot plant for injection blow moulded packaging bodes well for healthy earnings growth in future.
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