Mold-Tek Packaging, a leading supplier of rigid packaging, reported a 5.8% increase in net sales for the first quarter (Q1) of the financial year 2025 (FY25), reaching Rs 1.96 billion (USD 23.46 million), up from Rs 1.85 billion in the same period of FY24. Specializing in injection-molded rigid plastic packaging, the company also noted a 7.53% rise in sales volume to 9,894 tonnes in Q1 FY25.
Despite the growth in sales volume, Mold-Tek Packaging faced a decline in profitability. Profit before tax dropped by 10.40% to Rs 221.90 million for the quarter ending June 30, 2024, primarily due to increased depreciation and finance costs. Similarly, net profit fell by 11.76% to Rs 165.3 million compared to Rs 187.3 million in the corresponding period last year.
However, compared to Q4 FY24, net sales surged by 11.22%, accompanied by a 9.07% increase in sales volume to 9,894t. This growth was driven by the food and fast-moving consumer goods (FMCG) packaging sector, which saw an 11.79% rise in volume, followed by the paints sector at 8.03%, and lubricants at 7.38%. The pharmaceutical packaging division also contributed significantly to the overall sales volume increase.
Quarterly profit before tax and net profit for Q1 FY25 declined by 6% from Rs236.0 million in Q4 FY24 and by 8% from Rs179.7 million, respectively.
Mold-Tek Packaging operates 12 manufacturing units and two stock points across India, boasting an injection-molding capacity exceeding 50,000 tonnes per annum. Earlier this year, the company expanded its production capacity with a new unit in Haryana, India.