Mold‑Tek projects 15% FY27 growth

Mold-Tek Packaging told investors on May 11 that it expects roughly 15% growth in fiscal 2027, extending a run of double-digit expansion led by faster demand in FMCG and a sharp scale-up in pharma packaging. The Hyderabad-based rigid plastic packaging maker reported FY26 revenue growth of 13.48%, profit growth of 20.35% and sales-volume growth of 11.39%, according to its exchange filing and press release. (alphastreet.com) Chairman and Managing Director J. Lakshmana Rao said better capacity utilization and the consolidation of five Hyderabad units into two had improved performance, with more of that benefit expected in the next financial year. (bseindia.com) He also pointed to pharma packaging as a higher-margin business that is changing the company’s mix. (bseindia.com) ### Where does the 15% FY27 growth target come from? J. Lakshmana Rao said on the company’s February 9 earnings call that Mold-Tek expected to return to “12% to 15% volume growth,” and he repeated on the May 11 FY26 call that pharma’s acceleration gave the company “ability to look for higher numbers going forward.” The company’s May 11 press release did not print a separate FY27 percentage target, but management’s latest public comments support the roughly 15% figure investors circulated after the call. The May 11 filings showed FY26 revenue from operations of about 8.87 billion rupees, with EBITDA up 20.59% and EBITDA per kilogram at 42.11 rupees. Those numbers matter because Mold-Tek’s guidance is not only about tonnage growth; it is also tied to selling more technical and pharma-linked products that carry better realization per kilogram. (bseindia.com) ### Why is pharma showing up so prominently in management’s comments? Pharma packaging grew 208.96% by volume in FY26, making it the fastest-growing segment in Mold-Tek’s portfolio, the company said in its May 11 press release. Rao said on the earnings call that pharma packaging grew 37% in the March quarter from a year earlier and more than 200% for the full year, adding that the company was expanding its product range in the segment. (bseindia.com) The investor presentation said pharma was “continuing the momentum” and had achieved its year-two targets, while also adding new product lines including squeeze-lock child-resistant closures and vial holders. The same presentation said the company sees superior margins in packaging because of backward integration, and management linked future profitability improvement to higher utilization and a richer product mix. (bseindia.com) ### What did FMCG do in the quarter and year? The FMCG packs segment posted 18.04% volume growth in FY26, according to the May 11 press release, while Q-Packs grew 25.82% and paint packs rose 14.41%. Rao told investors that food and FMCG grew more than 15% and helped offset weakness in lubes packaging, which declined 12.99% for the year. (bseindia.com) Those figures show the company’s growth is not coming from one niche line alone. Mold-Tek supplies rigid plastic packaging to consumer and industrial customers including Hindustan Unilever, Mondelez, Asian Paints, Castrol and Shell, according to its investor materials, and management has framed FMCG and pharma as the main engines of the current mix shift. (bseindia.com) ### How are margins improving? EBITDA rose 20.59% in FY26, faster than revenue growth of 13.48%, and EBITDA per kilogram reached 42.11 rupees, the company said in its May 11 release. Rao attributed the improvement to higher capacity utilization after plant consolidation and to the contribution from pharma packaging, which he described as a stronger-growth business for the company. (bseindia.com) The company’s earlier investor presentation for FY25 had already said new pharma plants were moving toward better margins and cost recovery as utilization increased. The FY26 update suggests that process is now feeding through into reported profitability. That reading is an inference from the company’s stated segment growth and margin data. (bseindia.com) ### Why would consumer-goods buyers and suppliers pay attention? Mold-Tek’s filings show that segment mix is changing toward pharma, FMCG and other technical products at the same time EBITDA per kilogram is rising. For consumer packaged goods companies that buy rigid plastic packaging, changes in supplier mix and utilization can affect packaging-cost assumptions and the timing of price negotiations, especially when suppliers are also passing through resin moves or prioritizing higher-value lines. (bseindia.com) That cost implication is an inference based on the company’s disclosed segment growth, margin data and management commentary. The next public markers are already scheduled. Mold-Tek said the audio recording of its May 11, 2026 investor call had been uploaded to its website, and future BSE and NSE filings will show whether FY27 growth tracks the 12% to 15% range management has outlined and whether pharma revenue and margins continue to expand. (moldtekpackaging.com) (bseindia.com 1) (bseindia.com 2)