Mold-Tek Packaging (533080) Q3 25/26 earnings summary

Executive summary

• EBITDA increased by 19.83% and PAT by 17.95% year-over-year for the nine months, with sales up 12.1% and Q3 EBITDA up 13.81% on 6% higher sales volumes compared to Q3 last year.

• Pharma segment volume grew 190% in Q3 and fivefold over nine months, with over 25 clients cleared for production and strong momentum expected.

• MoUs signed with Vibe Generation (UK) and Swiggy to develop new products and expand market reach, targeting both European and Indian markets and $25–30 million revenue over five years.

• Consolidation of Hyderabad manufacturing units from five to two is expected to improve operational efficiency and cost control from next quarter.

• Q3 is typically the weakest quarter, but January and February order books are strong, with expectations of 12%-15% volume growth in upcoming quarters.

Financial highlights

• 9M FY26 EBITDA reached ₹125.55 crore, up 19.83%, with a full-year target of ₹170 crore; 9M PAT up 17.95% to ₹52.23 crore, with full-year PAT expected at ₹73–75 crore.

• 9M FY26 sales up 12.1% to ₹648.75 crore; Q3 sales up 4.06% to ₹198.67 crore.

• EPS for 9M FY26 increased to ₹15.72 from ₹13.33 year-over-year.

• Revenue for FY26 expected to close at ₹870 crore, with a target to cross ₹1,000 crore next year (13%-14% volume growth).

• EBITDA per kg: Paints/tube packs ₹30–35, F&F ₹70–80, Pharma ₹120–140, Lubricants slightly higher than paints.

Outlook and guidance

• Volume growth for the year expected at 11%, slightly below initial guidance due to extended rainfall.

• Pharma segment projected to reach ₹32–35 crore in FY26 and ₹50–55 crore in FY27, with 40%-45% growth expected.

• Next year aims for 12%-15% volume growth and EBITDA of ₹200–215 crore.

• CapEx to reduce from ₹140 crore last year to ₹120 crore this year and ₹80–85 crore next year, with major expansion in pharma.

• Capacity utilization expected to rise above 70% next year, up from 62.5% in Q3.