Mold-Tek Packaging (533080) Q2 25/26 earnings summary

Executive summary

• Achieved 16.05% year-over-year revenue growth in H1FY26, reaching INR 450.32 crore, with sales volume up 11% to 21,936 MT and EBITDA rising 23% over the same period.

• Q2FY26 revenue grew 10% year-over-year to INR 209.76 crore, with EBITDA up 16% and PAT up 10%.

• Pharma packaging sales surged 45% sequentially in Q2FY26, reaching INR 10.81 crore, with over 50% capacity utilization achieved in the first year.

• Food & FMCG segment delivered strong growth despite seasonal challenges, aided by diversification and regulatory tailwinds.

• EBITDA increased by 8.37% year-over-year in Q2; H1 EBITDA margin rose to INR 40.6/kg from INR 36.73/kg last year, a 10.5% improvement.

Financial highlights

• Revenue from operations for H1 FY26 was ₹45,031.71 lakhs, up from ₹38,802.59 lakhs in H1 FY25.

• Q2FY26 sales volume rose 7% year-over-year to 10,019 MT.

• Q2FY26 EBITDA margin improved by 99 bps to 18.83%.

• Net profit for H1 FY26 rose 23.63% to ₹3,788.16 lakhs from ₹3,064.19 lakhs in H1 FY25.

• EPS for H1FY26 increased 24% year-over-year to 11.40.

Outlook and guidance

• Pharma packaging is expected to be a key growth and profitability driver, with further capacity expansion planned by Q3 FY26.

• Food & FMCG segment outlook positive with new Panipat location contributing from Q3 and new product shapes in Q4.

• Full-year volume growth guidance maintained at 12%; sales value growth expected in the 12%-15% range.

• Pharma revenue target of INR 35-37 crore for FY, with next year’s target at INR 55-60 crore; long-term goal of INR 80-90 crore by 2028.

• Regulatory GST reductions on ready-to-eat products are expected to sustain demand in packaging.