Mold-Tek Packaging Ltd. share price target

We maintain our BUY rating on the stock.

Mold-tek packaging's (MPL) Q2FY26 result was in-line with our estimates on net sales and EBITDA front, while PAT was below our forecast. The quarter was heavily impacted by lot of rains, which slowed the movement of goods and affected the sale of certain food products (ice creams and yogurts) and paints. The Paint segment growth was muted at about 3% volume growth in Q2FY26, a steep decline from the 21% growth posted in Q1FY26. The overall EBITDA per kg margin dipped in Q2FY26 to Rs39.4. This was primarily due to a reduction in capacity utilization, which fell sharply from 74% in Q1FY26 to 63% in Q2FY26....

Quarterly Update Q2FY26

sustain its volume growth. Further, the management expects EBITDA/kg to improve to ~4142, supported by rising contributions from Pharma and FMCG. Considering these positive developments, we have an Accumulate rating with a target price of Rs. 941, based on 33x FY27E EPS....

Quarterly Update Q1FY26

Mold-tek packaging's (MPL) Q1FY26 result was ahead our and consensus estimates on key parameters. After a muted performance in FY25, the company had a strong come back in FY26 with a robust quarterly performance, despite a marginal de-growth in lubricants segment and lower utilization in Satara plant. The management has guided volume growth at 12-15% and net sales increase by 18-19% for FY26. Total capacity is expected to hit 70,000MT from current capacity of 63,000MT. MPL added Hocco Industries, Veedol Corporation, Variyant Lubricant, Laurus Labs and various other prominent names as its...

We maintain our BUY rating on the stock.

the near term with 1) Growing traction in pharma business with superior EBITDA/kg of ~Rs100 2) Double digit volume growth guidance for paints led by enhanced capacity for Aditya Birla group 3) Asian paint moving towards IML with all four plant IML ready by MTEP and 4) Healthy margin outlook for ( Rs4142 EBITDA/Kg) FY26/27 led by growing traction in food, paints and pharma....

Quarterly Update Q4FY25

overall EBITDA/kg to inch upwards to Rs40/kg by FY26. realization and stable volume growth (7.3%). MTEP expects double-digit by superior EBITDA/kg of Rs100/ Rs70 for Pharma/Food business. MTEP has given positive outlook in the near term led by 1) Growing traction in...

We recommend a BUY rating on the stock with a TP of Rs 555/share, implying an upside of 10% from the CMP.

We upgrade our rating from HOLD to BUY.

Quarterly Update Q3FY25

We maintain our HOLD rating on the stock

Initiating Coverage Report

We have revised our rating on the stock from BUY to HOLD as volume and margin recovery is now expected in FY26E and onwards.