Hold Mold-Tek Packaging; target of Rs 1045: ICICI Direct

ICICI Direct's research report on Mold-Tek Packaging

Mold-Tek Packaging is a leading player in the rigid packaging business and is into manufacturing decorative packaging containers for paint, lubricant, FMCG & foods (F&F) industry. It was the first to introduce in-mould label (IML) decorative products and QR coded packaging products in India • While new product launches helped drive profitability of the company, its balance sheet remained strong with RoCE, RoE of ~18%, 19%, respectively (three-year average).

Outlook

We maintain our HOLD rating on the stock. We value the stock at Rs 1045 i.e. 30xP/E on FY24E EPS.

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Mold-Tek Packaging - 08-11-2022 - icici