Mold-Tek Packaging Spikes 10 Per Cent On Stock Split Plan
Chirag Gothi / 24 Dec 2015
Stocks of Hyderabad-based Mold-Tek Packaging has surged around 10 per cent to hit Rs 365 on the Bombay Stock Exchange (BSE) in the afternoon trade after the company announced stock split plan. “A meeting of the board of directors of the company will be held on January 04, 2016 to consider the proposal for splitting of the equity shares of the Company Mold-Tek Packaging said in a regulatory filing.
Stocks of Hyderabad-based Mold-Tek Packaging has surged around 10 per cent to hit Rs 365 on the Bombay Stock Exchange (BSE) in the afternoon trade after the company announced stock split plan.
“A meeting of the board of directors of the company will be held on January 04, 2016 to consider the proposal for splitting of the equity shares of the Company Mold-Tek Packaging said in a regulatory filing.
Mold-Tek Packaging is a leading manufacturer of high quality rigid plastic packaging products with over 25 per cent market share in the Lube and Paint packaging segment. The Company is a domestic leader in injection molding with esteemed clientele across the sectors. It specializes in both standard and made-to-order packaging solutions for leading brands in Paints, Lubricants, Pharmaceuticals, Cosmetics, FMCGs, etc. The brand has key clients like Mondelez India, Heinz, Amul, Vadilal and in lubricants, Castrol, Gulf, Shell India and Valvoline.
On the financial front, the company reported 37.6 per cent growth of net profit at Rs 2.03 crore in Q2 FY16 as compared to the net profit of Rs 1.47 crore in the same period of the previous year. The total revenue rose by 22.5 per cent to Rs 14.92 crore in Q2 FY16 from Rs 12.18 crore in the corresponding quarter of the previous year. The EBITDA growth was reported as 25.2 per cent, amounting to Rs 3.02 crore as against Rs 2.42 crore in Q2 FY15 due to margins jumping by 47 bps to 20.3 per cent as against 19.83 per cent YoY. For six months ending September 30, 2015, the company’s net profit grew 14.9 per cent at Rs 3.3 crore as against the profit of Rs 2.83 crore in the same period of the previous year and topline grew by 21.6 per cent to Rs 27.2 crore.
In the beginning of current year, the company has raised Rs 55 crore through QIP at an issue price of Rs 220.17 per share. Currently, the Stock is trading at Rs 348.90, an increase of 5 per cent from the previous close. At CMP, the stock is trading at 32.9 times its earning per share of Rs 10.60 on TTM basis.
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