January 10, 2024
admin
Mold-Tek Packaging Inaugurates Rs 100 Crore Manufacturing Plants Across Three States
Mold-Tek Packaging Ltd on Monday announced that it has inaugurated three manufacturing plants in Haryana, Tamil Nadu and Telangana, at an outlay of over Rs 100 crores, with capacity expansion of 5,500 MTA.
The share price opened gap-up in Tuesday’s trading session to quote at Rs 878.50 a share on the National Stock Exchange (NSE) up by nearly 0.26 per cent. The gap-up was witnessed after the announcement.
Mold-Tek Packaging Limited specializes in the production of injection-molded containers for various industries, including lubes, paints, food, and more. The company recently inaugurated three additional units, all set to commence commercial production in the coming weeks.
In a strategic move to bolster its manufacturing capabilities, Mold-Tek Packaging Limited has acquired land in Mahad, Maharashtra, for the establishment of a state-of-the-art manufacturing plant. The new facility, slated to be operational by September/October this year, will have a robust production capacity of 1,500 Metric Tons Annually (MTA).
With these expansions, Mold-Tek’s cumulative manufacturing capacity is poised to reach an impressive 54,000 MTA by the end of the fiscal year 2024-25.
MTPL Chairman and Managing Director J Lakshmana Rao further informed that these four plants will enhance companys’ growth prospects in the coming years especially in Pharma Packaging.
Mold-Tek expects volume growth to ramp up to 15-18 per cent from FY 24-25 with all expansions becoming operative. The company’s long-term plan is to have food and FMCG and Pharma contribute about 50 per cent of the total turnover in next five to six years, Lakshmana Rao added.
Quicklinks
