Mold-Tek Packaging declares dividend, net profit up 32% in Q4 | Mint
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Business News/ Companies / Company Results/  Mold-Tek Packaging declares dividend, net profit up 32% in Q4
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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.

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.Premium
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.

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).

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Published: 03 May 2023, 04:31 PM IST
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