Mold-Tek Packaging declares dividend, net profit up 32% in Q4

Small-cap firm Mold-Tek Packaging has a market valuation of ₹3,304.37 Cr at today's close. One of the top packaging companies in India, Moldtek Packaging, has announced positive Q4 results and a dividend for its eligible shareholders. 

The Board of Directors have “Recommended a final dividend of ₹2.00/- per equity share for the financial year 2022-23 on Equity Shares of face value of ₹5/- each. The Board of Directors had earlier declared and paid an interim dividend of ₹4.00/- per equity share on face value of ₹5/- each at its meeting held on 12th April, 2023. The total dividend for the aforesaid financial year thus amounts to ₹6.00/- per equity share on face value of ₹5/- each. The Final Dividend of ₹2.00/- per equity share is subject to the approval/ declaration of/by Members at the ensuing Annual General Meeting and the Record Date/Book Closure Period for the purpose of payment of the said Final Dividend for the financial year 2022-23 will be determined later,” said Mold-Tek Packaging in a stock exchange filing.

Sales Volume climbed by 16.30% to 34,014 MT in FY23 from 29,250 MT in FY22, while net profit increased by 26.35% to ₹80.43 crores in FY23 from ₹63.65 crores in the prior corresponding year. According to the corporation, revenue from operations grew from ₹631.47 crores in FY22 to ₹729.92 crores in FY23, a 15.59% rise. 

Its net profit jumped by 32.79% to ₹23 crores in Q4FY23 from ₹17.32 crores in Q4FY22, and its EBDITA rose by 10.98% to ₹36.44 crores in Q4FY23 from ₹32.83 crores in Q4FY22. Sales Volume grew by 8.01% to 9067 MT in Q4FY23 from 8395 MT in Q4FY22, according to the company's report. 

Commenting on this year performance, Mr J Lakshmana Rao said that, in FY23 Company achieved excellent volume growth of 16.30% and recorded highest profits ever and poised to maintain similar or better volume growth in the near future.

The shares of Mold Tek Packaging closed today on the BSE at ₹996.35 apiece level, up by 0.42% from the previous close of ₹992.20. The stock touched a 52-week-high of ₹1,123.05 on (02/02/2023) and a 52-week-low of ₹648.05 on (12/05/2022).