The 10 reports from 5 analysts offering long term price targets
for Mold-Tek Packaging Ltd. have an average target of 281.60. The consensus estimate
represents an upside of 7.28%
from the last price of 262.50.
We initiate coverage on Mold-tek packaging Ltd. (MPL) with a BUY rating and price target of Rs 377 based on PE of 22x at FY20E EPS of Rs 17.1. We believe 1) leadership in IML manufacturing 2) complete in-house backward integrated operations 3) foray in high margin Food and FMCG segment 4) capacity expansion would be key growth catalysts for MPL. We expect MPL to clock Net Sales/EBITDA/PAT CAGR of...
We recently interacted with the management of Mold-Tek Packaging (MTEP) at the investor conference hosted by us. Overall, the discussion was based on growth outlook, capacity expansion plan, new product launches and update on its RAK facility. Following are the key takeaways from the discussion: Robust growth expectations from India business: The management reiterated its guidance of 15% volume growth for FY19 and more than 20% for the next couple of years in respect of India business. Over the next five to seven years, MTEP aims to achieve Rs10,000mn in revenues led by strong growth across segments. Both the new dedicated facilities for Asian...
Mold-Tek Packaging's (MTEP) performance in 1QFY19 was broadly in line with our expectations. Revenues grew 15% YoY led by volume growth of 12%. Volume growth was mainly driven by Food and FMCG (F&F;) and Lubricant divisions whereas Paint division recovered during the quarter after quite a few quarters of volume decline. Operating earnings grew 11% YoY. The share of IML in volume terms stood at 62% for the quarter as against 54% during the same quarter last year. The same in value terms was 57% vs. 50% in 1QFY18. The management has given guidance of 15% volume growth in FY19 and more than 20% in the next two years. We believe this is achievable considering the strong growth in F&F; division and expansion plan of the company in...
MTPL Q1FY19 PAT was in-line with estimates, but EBITDA was above estimates, due to higher realisation. Despite the increase in raw materials costs, margin during the quarter remained flat QoQ, backed by higher IML sales and higher realisation. MTPL is on its way of sustainable growth story, backed by capacity addition at Mysuru, Vizag, greenfield plant at Hyderabad...
Mold-Tek Packaging or MTEP's operating performance in 4QFY18 was broadly in line with our expectations. During the quarter, net revenues and EBITDA grew 17% and 22% YoY, respectively. The management sounded optimistic about the growth outlook and has given volume guidance of 15%-18% for FY19 and above 20% for FY20 once the two new plants go on stream. Robust growth in Food and FMCG (F&F;) segment continued to drive both top-line and profitability of the company. Revenue share of F&F; has risen from 6% in FY17 to close to 19% in FY18. New launches in the F&F; segment like generic containers for ice-cream, candies, ghee and edible oil containers are getting an encouraging response. The...
Mold-Tek Packaging's Consolidated Revenue and Net profit increased at 3.4% and 8.4% respectively on yoy basis. The company reported subdued quarter due to lacklustre demand mainly from paint and lubricant segments on account of GST transition. However, revenue from Food and FMCG segment remained strong with addition of new products and clients.
Slow Recovery Post GST Rollout; Focus on Food & FMCGOn Track Mold-Tek Packaging or MPL's net sales in 2QFY18 grew 1.4% to Rs770mn (our estimate Rs873mn). Lower sales were account of the decline in volume by 4.5% to 4,420tn. Gross profit grew 5% to Rs315mn (our estimate Rs353mn). Gross margin expanded 150bps to 41% (our estimate 40.4%). Gross margin improved on account of a better product mix. Food & FMCG (F&F;) segment accounted for ~15% of total sales versus 5% in the same quarter last year. F&F; is a high-margin business segment. EBITDA grew 14% to Rs145mn (our estimate Rs157mn) with operating margin of 18.9% (our estimate 18%)....
Mold-Tek Packaging (MTPL) in 1QFY18 posted consolidated revenues of Rs. 90 Cr. (up 8% Y-o-Y, up 9% Q-o-Q)due to increased contribution from Food and FMCG segment and huge growth in RAK plant sales however GST impacted paints and lubes volumes due to destocking.
