External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Mold-Tek Packaging reported a slightly weak set of numbers in Q4FY23.</li><li>The company reported revenue of Rs 185 Cr (up3.8%/19.3% YoY/QoQ), missing our estimate by (3.3%).</li><li>EBITDAstood at Rs 36 Cr(up 12%/25.3% YoY/QoQ)and missed our estimate by 5.8%. EBITDA Margin increasedto19.3% (from 18.4%/17.9% in Q3FY23/Q4FY22).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Mold-Tek Packaging reported a slightly weak set of numbers in Q4FY23.The company reported revenue of Rs 185 Cr (up3.8%/19.3% YoY/QoQ), missing our estimate by (3.3%).EBITDAstood at Rs 36 Cr(up 12%/25.3% YoY/QoQ)and missed our estimate by 5.8%. EBITDA Margin increasedto19.3% (from 18.4%/17.9% in Q3FY23/Q4FY22).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mold-Tek Packaging - Slower than Expected Growth&Steady Margins

<ul><li>Sultanpur Plant for Food &amp; FMCG product to be commissioned in coming quarter</li><li>LOI from Aditya Birla Group for two plants to cater their packaging demand</li><li>Received orders for IBM from Iodex, expect other OTC products to start.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Sultanpur Plant for Food &amp; FMCG product to be commissioned in coming quarterLOI from Aditya Birla Group for two plants to cater their packaging demandReceived orders for IBM from Iodex, expect other OTC products to start.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mold-Tek Packaging - Weak Quarter Affected by Paint Industry, Revise to HOLD

<ul><li>Mold-Tek Packaging’s (MTEP) reported a decent set of numbers but were a miss on top-line and bottom-line front.</li><li>The company reported Net Sales of Rs 160 Cr, up 20%/1% YoY/QoQ (our estimate: Rs 177 Cr) largely price-led growth</li><li>We revise our FY22 estimates downward, while increasing the FY23/24 estimates on the back of strong earnings visibility. Retain BUY with a TP of Rs 920/share valuing it at 23x PE its FY24E.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mold-Tek Packaging’s (MTEP) reported a decent set of numbers but were a miss on top-line and bottom-line front.The company reported Net Sales of Rs 160 Cr, up 20%/1% YoY/QoQ (our estimate: Rs 177 Cr) largely price-led growthWe revise our FY22 estimates downward, while increasing the FY23/24 estimates on the back of strong earnings visibility. Retain BUY with a TP of Rs 920/share valuing it at 23x PE its FY24E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mold-Tek Packaging: Strong Growth Outlook; Attractive Valuations

<p>Retain BUY with a TP of Rs 755/share (earlier Rs 685/share) valuing it at 22x PE its FY24E.</p><p>Mold-Tek Packaging’s (MTEP) reported an exceptional set of numbers and were a beat on top-line and bottom-line front. Net Sales at Rs. 160 Cr were up 34%/19% YoY/QoQ (est Rs 140Cr) largely price led growth...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Retain BUY with a TP of Rs 755/share (earlier Rs 685/share) valuing it at 22x PE its FY24E.Mold-Tek Packaging’s (MTEP) reported an exceptional set of numbers and were a beat on top-line and bottom-line front. Net Sales at Rs. 160 Cr were up 34%/19% YoY/QoQ (est Rs 140Cr) largely price led growth...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>We retain a BUY with TP of Rs 585/share and continue to value the stock at a target multiple of 20x basis FY24E EPS. We recently interacted with the management of Mold-Tek Packaging Ltd. to get an outlook on the industry and the company for FY22E/FY23E.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We retain a BUY with TP of Rs 585/share and continue to value the stock at a target multiple of 20x basis FY24E EPS. We recently interacted with the management of Mold-Tek Packaging Ltd. to get an outlook on the industry and the company for FY22E/FY23E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Mold-Tek Packaging Ltd. manufactures plastic packaging products.  The Company manufactures bottles for pharmaceuticals and cosmetics; child-resistant caps; flip-top tablet packs; blow-molded shampoo and medicine packs; and injection-molded pails for lubricants, chemicals, paint, ink, adhesives and bulk drugs.

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Mold Tek Packaging (MTEP IN)

Mold-Tek Packaging - Slower than Expected Growth&Steady Margins

Mold-Tek Packaging reported a slightly weak set of numbers in Q4FY23. The company reported revenue of Rs 185 Cr (up3.8%/19.3% YoY/QoQ), missing our...

Axis Direct

Mold-Tek Packaging - Weak Quarter Affected by Paint Industry, Revise to HOLD

Sultanpur Plant for Food & FMCG product to be commissioned in coming quarter. LOI from Aditya Birla Group for two plants to cater their packaging...

Axis Direct

Mold-Tek Packaging: Strong Growth Outlook; Attractive Valuations

We revise our FY22 estimates downward, while increasing the FY23/24 estimates on the back of strong earnings visibility. Retain BUY with a TP of Rs...

Axis Direct

Mold-Tek Packaging: Strong Growth Outlook; Attractive Valuations

Retain BUY with a TP of Rs 755/share (earlier Rs 685/share) valuing it at 22x PE its FY24E. Mold-Tek Packaging’s (MTEP) reported an exceptional set...

Axis Direct

Mold-Tek Packaging: Strong Growth Outlook; Attractive Valuations

We retain a BUY with TP of Rs 585/share and continue to value the stock at a target multiple of 20x basis FY24E EPS. We recently interacted with...

Axis Direct

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