Mold-Tek Packaging has been awarded/selected as Packing Material Supplier by Grasim Industries - Birla Paints Division, for supply of Packing Material (PAILS) and accordingly, a co-located facility will be set-up by the Company at Mahad in Raigad District of Maharashtra to cater to their demands.

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Lloyds Steels Industries Ltd, Aarti Industries Ltd, Balaji Amines Ltd and Tata Steel Long Products Ltd are among the other losers in the BSE's 'A' group today, 07 February 2023.

Mold-Tek Packaging Ltd lost 9.78% to Rs 958 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 19976 shares were traded on the counter so far as against the average daily volumes of 5164 shares in the past one month.

Lloyds Steels Industries Ltd crashed 7.25% to Rs 19.2. The stock was the second biggest loser in 'A' group.On the BSE, 23.98 lakh shares were traded on the counter so far as against the average daily volumes of 41 lakh shares in the past one month.

Aarti Industries Ltd tumbled 5.69% to Rs 532.7. The stock was the third biggest loser in 'A' group.On the BSE, 1.08 lakh shares were traded on the counter so far as against the average daily volumes of 45707 shares in the past one month.

Balaji Amines Ltd pared 5.39% to Rs 2177.35. The stock was the fourth biggest loser in 'A' group.On the BSE, 22148 shares were traded on the counter so far as against the average daily volumes of 5374 shares in the past one month.

Tata Steel Long Products Ltd shed 5.38% to Rs 653. The stock was the fifth biggest loser in 'A' group.On the BSE, 12315 shares were traded on the counter so far as against the average daily volumes of 7305 shares in the past one month.

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As compared with Q3 FY22, the company's net profit and revenue are lower by 2.10% and 3%, respectively.

EBITDA was Rs 28.84 crore in Q3 FY23, down 9% YoY and down 16% QoQ. EBITDA margin stood at 18.58% in Q3 FY23, down 121 bps YoY and down 15 bps QoQ.

Profit before tax in Q3 FY23 stood at Rs 20.57 crore, down 7% YoY and down 21% YoY.

Mold-Tek Packaging said that overall, on a 9-month basis, lithe Lube-Pack business continued to grow at ahead on its high-volume growth trajectory 39.04% and Food and FMCG-pack business recorded 35.62% volume growth however Paint-pack business registered a drop in volume.

During the Q3 Paint-pail volumes shrunk by 10% which has dipped the growth to around 3% only (Paint Pails constitute 50% share of the company sales). Lessor capacity utilization and new projects implementation affected margins in Q3. This resulted in short term stress on the margin.

The revenues from new projects are expected to flow from next financial year. The Paint and Lubes volumes should start picking up from Q4 as the busy season starts from January onwards.

The company has planned for Rs 127 crore capex and spent Rs 79 crore and balance of Rs 48 crore to be spent in the next few months on Sultanpur-Pharma, Daman-Unit-2 for Food & FMCG, Printing Expansion, Toolroom Expansion, Panipat Plant for Aditya Birla Group and Cheyyur Plant for Aditya Birla Group.

Moldtek Packaging is involved in manufacturing injection moulded decorative packaging containers, mainly pails (cylindrical containers) for paint, lube, food and other products. The company has manufacturing facilities at multiple locations in India, with combined capacity of 45,000 MTPA.

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Net profit of Mold-Tek Packaging declined 2.10% to Rs 16.31 crore in the quarter ended December 2022 as against Rs 16.66 crore during the previous quarter ended December 2021. Sales declined 3.40% to Rs 154.83 crore in the quarter ended December 2022 as against Rs 160.28 crore during the previous quarter ended December 2021.

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