Accumulate Mold tek Packaging; target of Rs 697: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on Mold tek Packaging with a target price of Rs 697 in its research report dated February 09, 2026.

Broker Research

February 10, 2026 / 10:32 IST

Accumulate

Prabhudas Lilladher's research report on Mold tek Packaging

We increase our FY27/FY28 estimate by3.8%/3.0% led by 1) healthy demand outlook in near term with double digit volume growth guidance. 2) Improving capacity utilization with 70%+ expected for FY27 3) strong demand in pharma and pick up in Lubes from FY27 onwards and 4) healthy order flow outlook from ABG. MTEP revenue were miss on our estimates amidst extended monsoon and shorter festive period while PAT were beat led by healthy GM and lower other expenses. EBIDTA/kg came in at Rs40.3(Adjusted of labour code impact) vs Rs39/Rs36.5 in 2Q26/3Q25 We believe LT drivers for MTEP remain intact given 1) rising business from leading paint & FMCG companies, visible recovery in lubes, and scale up in pharma business. 2) Company received incremental orders from new customers, with more than seven orders during Q3. & 3) Capacity enhancements at Cheyyar and Panipat with growing demand from ABG will enable increase in capacity utilization from Q4FY26 onwards.

Outlook

We estimate EBIDTA/kg to increase to Rs44.7/47.3 over FY27 and FY28. We estimate a 15.8% Sales CAGR & 30.9% EPS CAGR over FY26-FY28. We assign a PE of 20x on Dec27 valuing the company at Rs697. Retain ‘Accumulate.

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