Mold-Tek Packaging (533080) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 saw revenue growth of 15.25% year-over-year, with sales volume up 7.5% and EBITDA rising 12%.

• PAT declined by 3.9% year-over-year due to higher depreciation and interest costs from recent investments.

• For the nine months ended December 2024, revenue increased 10.91%, EBITDA rose 6.17%, but PAT dropped 8.91% year-over-year.

• Pharma segment commercialization accelerated, with new product launches, capacity expansion, and January sales already surpassing Q3 levels.

Financial highlights

• Q3 FY25 revenue: ₹190.68 crore (up 15.25% YoY); sales volume: 9,255 MT (up 7.5% YoY); EBITDA: ₹33.98 crore (up 11.94% YoY); PAT: ₹13.64 crore (down 3.9% YoY); EPS: ₹4.11 (down 4.08% YoY).

• 9M FY25 revenue: ₹578.71 crore (up 10.91% YoY); EBITDA: ₹104.78 crore (up 6.17% YoY); PAT: ₹44.28 crore (down 8.91% YoY); EPS: ₹13.33 (down 9.09% YoY).

• EBITDA per kg at INR 36.7, expected to cross INR 38 in Q4.

• Realization per kg improved due to product mix and higher raw material prices.

• EBITDA margin for Q3: 17.82% (down 52 bps YoY); PAT margin for Q3: 7.15% (down 143 bps YoY).

Outlook and guidance

• Pharma revenue expected to reach INR 30–35 crores in FY26, with potential to double to INR 60–65 crores by FY27.

• Overall volume growth for FY25 guided at 8–9%, with double-digit growth targeted for next year, mainly driven by pharma and food/FMCG.

• Export turnover is rising, with significant orders in pharma and food packaging; export volumes projected to increase 4-5x from FY26.

• Expansion of plant capacity and installation of new printing technology planned to meet growing demand.

• Paint segment growth depends on Aditya Birla Group expansion and stabilization with Asian Paints.