Mold-Tek Packaging Ltd. share price target

We recommend a BUY with a target price of Rs 760/share, implying an upside of ~10% from the CMP.

Quarterly Update Q1FY27

Mold-tek Packaging Ltd. (MTPL) reported mixed set of numbers in Q1FY27. The company reported net sales higher than our estimate; however, margins were below our forecast. MTPL reported 6.2% YoY growth in sales volume at 12089MT, while NSR was up by healthy 17.6% over Q1FY26 to Rs249/Kg. Despite higher sales growth, EBITDA margin eroded by 86bps YoY to 18.6% due to inflationary raw material prices. The company reported net sales of Rs3bn, up 24.9% YoY, while EBITDA came in at Rs0.56bn, higher by 19.4% over Q1FY26. The profit...

We maintain our BUY rating on the stock.

FY27, aided by expansion into ophthalmic and nasal spray products, significantly widening the addressable market. The Hyderabad consolidation (5 plants into 2) was completed in JanFeb 2026, gistics costs, and improved utilization. Capex has declined sharply over the past three years and is now fully funded through internal accruals, signalling a shift from an investment-heavy phase to a...

We maintain our BUY rating on the stock.

Mold-Tek Packaging's (MPL) Q4FY26 results were ahead of estimates, with volumes increasing 17.4% YoY to 11,425 MT. Revenue rose to Rs 2.38 Bn, while PAT grew 27% YoY to Rs 206.4 Mn. Operating margins improved as EBITDA per kg reached Rs 42.10, aided by manufacturing consolidation and AI-based quality control. The paint segment witnessed a strong revival, reaching 1,935 MT as demand from major players normalized. Pharma continued its growth trajectory, finishing the year with a 220% revenue jump, supported by new client additions and high-margin product launches. Food and FMCG also saw a...

Quarterly Update Q3FY26

Mold-tek packaging's (MPL) Q3FY26 result was a tad below our estimates on key parameters. Q3FY26 was seasonally weak, with volumes up 6% YoY to 9,808 MT, however, operating margin expanded driven by operational efficiencies, higher pharma contribution, and controlled raw material pass-through. Paint segment volumes grew ~10% YoY, while Asian Paints volumes began recovering from January after resolution of recycled plastic (RCP) formulation and compliance-related supply issues. Food and FMCG packaging remained muted in Q3, growing ~1112% YoY due to winter seasonality. Q-Pack segment continued...

We increase our FY27/FY28 estimate by3.8%/3.0% led by 1) healthy demand outlook in near term with double digit volume growth guidance. 2) Improving capacity utilization with 70%+ expected for FY27 3) strong demand in pharma and pick up in Lubes from FY27 onwards and 4) healthy order flow outlook from ABG. MTEP revenue were miss on our estimates amidst extended monsoon and shorter festive period while PAT were beat led by healthy GM and lower other...

~39.0, driven by strong volumes in high-realisation segments such as Pharma and F&F. Consequently, the EBITDA margin expanded by 110 bps YoY. Looking ahead, we expect higher volumes and revenue driven by pent-up deF&F segments. We project a topline CAGR of 15.4% over FY25AFY27E, with earnings expected...

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

Quarterly Update Q1FY26

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....

We maintain our BUY rating on the stock.

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...

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