Mold-Tek Packaging Ltd., a prominent player in rigid plastic packaging solutions, announced its financial results for the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24).
Q4FY24 Financial Highlights:
Sales Volume: Grew marginally by 0.05% to 9,071 MT compared to 9,067 MT in Q4FY23.
Revenue: Decreased by 4.24% to ₹176.87 crore compared to ₹184.7 crore in Q4FY23.
EBITDA: Decreased marginally by 1.79% to ₹35.78 crore compared to ₹36.44 crore in Q4FY23.
Profit Before Tax (PBT): Decreased by 12.32% to ₹23.60 crore compared to ₹26.92 crore in Q4FY23 due to higher depreciation and finance costs.
Net Profit: Decreased by 21.86% to ₹17.97 crore compared to ₹22.99 crore in Q4FY23.
FY24 Financial Highlights:
Sales Volume: Increased by 4.84% to 35,661 MT compared to 34,014 MT in FY23.
Revenue: Decreased by 4.28% to ₹698.65 crore compared to ₹729.93 crore in FY23, due to a 12% decrease in average raw material prices.
EBITDA: Decreased by 1.72% to ₹134.47 crore compared to ₹136.82 crore in FY23.
Profit Before Tax (PBT): Decreased by 13.72% to ₹88.63 crore compared to ₹102.72 crore in FY23.
Net Profit: Decreased by 17.21% to ₹66.59 crore compared to ₹80.43 crore in FY23.
Key Takeaways:
Mixed Performance: The results reflect a mixed performance for Mold-Tek Packaging. While sales volume increased in FY24, revenue and profitability declined both quarterly and annually.
Impact of Raw Material Prices: The decrease in average raw material prices contributed to the decline in revenue.
Financial Position: Despite the decline in profitability, the company maintains a strong financial position with healthy cash flows.
Further Information:
For a detailed analysis of the results and further insights into the company's performance, you can refer to the following resources:
Mold-Tek Packaging Investor Relations: https://www.moldtekpackaging.com/investors.html
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/mold-tek-packaging-ltd
Comments