Mold-Tek’s margin recovery continued as costs fell sequentially
Revenue grew 2.13% quarter on quarter, while lower expenses lifted operating profit 15.36% despite a sharp fall in other income.
Filed 04 Nov 2026, 14:39 IST · MOLDTECH (MOLDTECH)
Key takeaways
- Consolidated operating margin expanded 2.56 percentage points sequentially as revenue grew 2.13% while expenses fell 1.13%.
- Net profit increased 6.89% quarter on quarter, helped by a 0.84 percentage-point decline in the tax rate.
- Operating margin has risen for a second straight quarter, from 1.87% in Q4FY26 to 22.47% in Q2FY27.
Lower expenses drove the sequential profit increase
Mold-Tek’s consolidated revenue grew 2.13% quarter on quarter, but expenses declined 1.13%, allowing operating profit to rise 15.36%. That operating leverage lifted the margin by 2.56 percentage points to 22.47%. Net profit grew 6.89%, slower than operating profit because profit before tax increased 5.54%.
Profit growth was mainly operating, not non-operating
Other income fell 55.61% sequentially and contributed 6.93% of profit before tax, so it was not the main source of earnings growth. Interest expense also declined 10.00%, while depreciation fell 1.47%. The lower tax rate, down 0.84 percentage points to 26.82%, provided an additional lift to net profit.
Operating margin has recovered sharply across three quarters
The consolidated operating margin improved from 1.87% in Q4FY26 to 19.91% in Q1FY27 and 22.47% in Q2FY27. This is the second consecutive quarter of margin expansion, with revenue also rising from Rs 55.49 cr to Rs 60.81 cr across the period. The latest quarter therefore extended both the earnings and margin recovery rather than marking a one-quarter reversal.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹61 cr | ₹60 cr | +2.13% |
| Other income | ₹1 cr | ₹2 cr | -55.61% |
| Expenses | ₹47 cr | ₹48 cr | -1.13% |
| Operating profit | ₹14 cr | ₹12 cr | +15.36% |
| Operating margin (%) | 22.47% | 19.91% | — |
| Interest | ₹0 cr | ₹0 cr | -10.00% |
| Depreciation | ₹1 cr | ₹1 cr | -1.47% |
| Profit before tax | ₹13 cr | ₹12 cr | +5.54% |
| Tax | ₹4 cr | ₹3 cr | +2.62% |
| Net profit | ₹10 cr | ₹9 cr | +6.89% |
| EPS (₹) | ₹3.34 | ₹3.13 | +6.71% |
What to watch
- Whether operating margin holds above 22.47% after the second consecutive quarterly expansion.
- Whether expenses remain below the pace of revenue growth after declining 1.13% sequentially.
- Whether other income remains a limited contributor after accounting for 6.93% of profit before tax.