- 07 Nov 2022
- ICICIdirect Research
FMCG & LUBES SEGMENT DROVE Q2 REVENUE
MOLDTKPAC - 699 Change: 10.90 (1.59 %)News:
Mold Tek Packaging reported a consolidated revenue growth of 14% YoY to Rs 183 crore in Q2FY23 even on a higher base of Q2FY22 (revenues were up by 34%). Company reported volume growth 9% YoY led by FMCG and Lubes segments volume growth of 40% and 27% respectively. We believe, segment volume growth is attributable to wallet share gains, customer addition and launch of new products in FMCG & Lubes businesses. On the paint segment company reported muted volume offtake amid extended monsoon
- On a three-year basis, revenues grew at CAGR of 17% led by 10% volume growth
- Gross margin up by 292 bps QoQ (flat on a YoY basis) supported by price hikes. However, EBITDA margin expansion was restricted at 80 bps QoQ to 18.7% led by higher employee costs and other expenses
- The PAT came in at Rs 19.4 crore up by 10% YoY (23% three year CAGR) mainly led by higher growth in topline