Accumulate Mold-Tek Packaging; target of Rs 1131: Geojit

accumulate

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Geojit's research report on Mold-Tek Packaging

Mold-Tek Packaging Ltd (MTEP) is one of the leading manufacturers and suppliers of high quality airtight and pilfer proof containers/ pails in India for paints, lubricants, food and FMCG. Q4FY23 revenue grew by 3% YoY, while PAT grew by 33%, led by better product mix, softness RM cost and lower tax rate. EBITDA/kg was up by 4% YoY, due to lower cost & higher contribution from the F&F segment. Margins expanded by 140bps YoY to 19.3%. We anticipate volume growth of 20% CAGR over FY23-25E, with healthy volumes from paints and the F&F segment, steady growth in lubes, and traction in pharma packaging. MTEP’s long term outlook remains intact, given the addition of new products (Pharma packaging), strong client additions, a strong balance sheet & healthy RoE of 17% (avg. 5yrs).

Outlook

We value MTEP at a P/E of 30x, on FY25E and reiterate Accumulate rating with a target price of Rs.1,131.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Mold-Tek Packaging - 09 -05 - 2023 - geo