Mold-Tek Q2 profit rises 36% as revenue reaches Rs 274 crore

Mold-Tek Packaging Limited reported profit for the period of Rs 21.07 crore for the quarter ended September 30, 2026, up 36.06% year on year. Revenue from operations increased 30.73% to Rs 274.23 crore, while sales volume rose 10.08% to 11,028.46 metric tonnes, or MT, in the unaudited quarterly results.

How did Mold-Tek perform in Q2 FY2027?

Mold-Tek’s Q2 FY2027 profit rose faster than its revenue, with profit for the period reaching Rs 21.07 crore from Rs 15.48 crore in Q2 FY2026. Revenue from operations rose to Rs 274.23 crore from Rs 209.76 crore, while total income, including other income, increased to Rs 274.94 crore from Rs 210.15 crore.

Other income was Rs 71.35 lakh in the September 2026 quarter, compared with Rs 38.88 lakh a year earlier. Profit before tax rose to Rs 28.17 crore from Rs 20.81 crore, with no exceptional items recorded in either of the two quarterly periods. The company reported earnings before interest, tax, depreciation and amortisation, or EBITDA, of Rs 51.27 crore, up 29.80% year on year.

The year-on-year outcome differed from the immediately preceding quarter. Revenue from operations was below Rs 300.45 crore in the quarter ended June 30, 2026, while profit for the period was below Rs 25.57 crore. Profit before tax also declined sequentially from Rs 34.17 crore, although each of these measures remained above the September 2025 quarter.

Which costs increased for Mold-Tek in Q2 FY2027?

Mold-Tek’s total expenses increased to Rs 246.77 crore in Q2 FY2027 from Rs 189.34 crore in Q2 FY2026, an increase of Rs 57.43 crore. Cost of materials consumed was the largest expense item at Rs 163.15 crore, compared with Rs 111.74 crore a year earlier, accounting for most of the overall increase.

Employee benefits expense increased to Rs 20.75 crore from Rs 17.97 crore. Finance costs rose to Rs 5.52 crore from Rs 4.20 crore, while depreciation and amortisation expense increased to Rs 17.59 crore from Rs 14.49 crore. Other expenses reached Rs 42.98 crore, compared with Rs 38.77 crore in the prior-year quarter.

Changes in inventories of finished goods and work in progress reduced expenses by Rs 3.21 crore in Q2 FY2027, compared with an expense addition of Rs 2.17 crore in Q2 FY2026. Current tax increased to Rs 6.42 crore from Rs 3.94 crore, while deferred tax fell to Rs 45.50 lakh from Rs 1.38 crore. Earlier-year tax of Rs 22.49 lakh was also recorded in the latest quarter.

What do Mold-Tek’s first-half FY2027 results show?

Mold-Tek reported first-half FY2027 profit of Rs 46.64 crore, compared with Rs 37.88 crore in the half year ended September 30, 2025. Revenue from operations for the six months increased to Rs 574.68 crore from Rs 450.32 crore, an increase of Rs 124.36 crore.

First-half profit before tax rose to Rs 62.34 crore from Rs 50.82 crore. The prior-year half included exceptional items of Rs 82.10 lakh, whereas the latest half reported no exceptional item. EBITDA for H1 FY2027 was Rs 107.70 crore, up 23.97%, while sales volume increased 8.04% to 23,116.98 MT.

Materials consumed rose to Rs 340.90 crore from Rs 248.59 crore in the first half, and depreciation and amortisation increased to Rs 34.13 crore from Rs 28.53 crore. Post-bonus basic earnings per share, or EPS, was Rs 7.00 for H1 FY2027, against Rs 5.70 in H1 FY2026; diluted EPS was Rs 7.02, compared with Rs 5.70.

Which packaging businesses drove Mold-Tek’s volume growth?

Mold-Tek said pharmaceutical packaging, food and fast-moving consumer goods, or FMCG, packaging, and paints packaging contributed to Q2 volume growth, while lubricants packaging declined. Pharmaceutical packaging volume increased 26.30% year on year and food and FMCG packaging, including Q-Pack, increased 23.70%.

Paints packaging recorded volume growth of 8.61%, while lubricants packaging volume fell 12.32%. Management said the gains in pharmaceutical, food and FMCG packaging, supported by paints, more than offset the lubricants decline and resulted in overall Q2 sales-volume growth of 10.08%.

Management said raw-material prices rose sharply and material availability faced constraints from geopolitical disruptions during the quarter. It said pre-agreed customer pricing arrangements enabled it to pass on increased raw-material costs. Management also reported EBITDA per kilogram of Rs 46.49, up 30% from Q2 FY2026.

How did Mold-Tek’s financial position and share base change?

Mold-Tek’s total assets were Rs 1,167.22 crore at September 30, 2026, compared with Rs 1,058.22 crore at March 31, 2026. Property, plant and equipment increased to Rs 630.06 crore from Rs 616.06 crore, capital work-in-progress rose to Rs 23.76 crore from Rs 13.87 crore, and trade receivables increased to Rs 213.68 crore from Rs 175.78 crore.

Total equity rose to Rs 739.19 crore from Rs 689.98 crore, including other equity of Rs 722.58 crore. Non-current borrowings declined to Rs 61.54 crore from Rs 74.12 crore, while current liabilities increased to Rs 317.49 crore from Rs 249.20 crore. Cash and cash equivalents stood at Rs 18.37 lakh, compared with Rs 16.52 lakh at March 31, 2026.

The board approved a one-for-one bonus issue on August 26, 2026, and shareholders approved it at the annual general meeting on September 21, 2026. Mold-Tek allotted 3,32,28,914 bonus shares of Rs 5 each on October 12, 2026 to shareholders on the October 9 record date, and restated EPS for all presented periods under Indian Accounting Standard 33.

Conclusion

Mold-Tek’s September-quarter results show profit growth of 36.06% exceeded revenue growth of 30.73%, despite higher materials, employee, finance and depreciation costs. The company also reported 10.08% volume growth, led by pharmaceutical and food and FMCG packaging, while sequential revenue and profit were lower than in the June 2026 quarter.

The next developments to watch are management’s stated capacity-enhancement focus in pharmaceutical packaging and its expectation that Panipat Unit-14’s food and FMCG sales in north India can support future growth. The filing also leaves the board’s Rs 3-per-share final dividend recommendation for FY2026 subject to the applicable approval process.