Mold-Tek Packaging Limited Announced Financial Results for Quarter and Half Year FY19; Strong profitable revenue growth 0f 27.27% for the Quarter
Deepthi | Myequity news | Date : 09-11-2018 14:55:00 IST
Mold-tek, the innovator and torch bearer in introducing many world class packaging products in India for Lubes, Paints, Food and FMCG products announced its financial results for Q2FY19 and H1FY19.
Standalone Performance Highlights Q2FY19 on Q2FY18
• Net Sales for the quarter increases by 27.27%
• EBIDTA up by 19.55%
• EPS for the quarter increases by 2.69%
• Net Profit for the quarter increases by 2.69%
Standalone Performance Highlights HIFY19 on HIFY18
• Net Sales for the quarter increases by 20.55%
• EBIDTA up by 15.10%
• EPS for the quarter increases by 7. 42 %
• Net Profit for the quarter increases by 7.42 %.
Commenting on future prospects, Mr. J. Lakshmana Rao, Chairman and managing director, said that Our Q-Packs of 5.15 and 17 liters packs are gaining huge demand and sales picked up considerably from Ghee & Edible Oil segments. From December 20 18 Company will launch a new set of retail packs for Ghee and spices and other food products in the range of 50 ml to 1000 ml packs. New enquiries from major MNCs in Food and FMCG are also under development which may add to sales from the 4th quarter of this Financial Year. Company opened sales office in North in Gurgaon expand the client base. The Ice Cream Packs launched last season were well received in the market and new major clients are being added and capacity also being enhanced to meet the increasing demands this year.
RAK Unit has bagged order from new customers like Novasolum specialty Chemicals LLC, Magnum Lubricants and Gulf Oil Middle East etc and order from other new clients; sales are expected to grow above BEP in coming quarters. However the traction from Paint and Dairy industry is below expectation. And the company is planning shift some more capacity to India for better overall utilization. About Mold-tek Packaging Limited:
Mold-tek Packaging Limited is the leader in manufacturing injection moulded rigid plastic packaging containers. Mold-tek has been the innovator and torch bearer in introducing many world class packaging products in India for Lubes, Paints, Food and FMCG products. Mold-tek is the first Company in India to introduce recently "In-Mold Labeling (IML)" concept for decorating plastic containers using ROBOTS. IML enables photographic quality decoration with complete hygienic and hands free production of containers suitable for food and FMCG products.