Mold-Tek’s Q2 profit fell 17.60% as revenue slipped sequentially
Costs declined slower than revenue, trimming operating margin by 0.15 percentage points despite a 3.50% fall in interest expense.
Filed 02 Nov 2026, 13:56 IST · Mold-Tek Packaging Ltd (MOLDTKPAC)
Key takeaways
- Standalone net profit fell 17.60% sequentially as revenue declined 8.73% to Rs 274.23 cr.
- Expenses fell 8.56%, slower than revenue, narrowing operating margin by 0.15 percentage points to 18.44%.
- Mold-Tek’s operating margin was 6.01 percentage points above the 12.43% median for 75 reported Industrials peers.
Price around the results
Revenue contraction was followed by a sharper profit decline
Mold-Tek Packaging reported standalone revenue of Rs 274.23 cr in Q2FY27, down 8.73% from Q1FY27, while net profit fell 17.60% to Rs 21.07 cr. The sharper profit decline reflected the 17.56% fall in profit before tax, with depreciation rising 6.28% even as interest expense fell 3.50%. Other income contributed only 2.52% of pre-tax profit, so it was not a material earnings driver.
Operating margin weakened as expenses fell slower than sales
Expenses declined 8.56%, less than the 8.73% revenue contraction, which reduced operating margin by 0.15 percentage points to 18.44%. The tax rate increased by 0.05 percentage points to 25.21%, so the quarter’s net profit was not flattered by a lower tax rate. Operating profit consequently fell 9.47% sequentially.
Pharma growth and new products were highlighted by management
Management cited price and supply shocks, global volatility and demand shifts while discussing the operating environment. It said the pharma business recorded 32% growth in the first half and that the company added Squeeze Lock CRC and Vile Holders as new product lines. The presentation also said Mold-Tek has a strong presence across major customers including Asian Paints, Castrol, Shell, Mondelez and Hindustan Unilever.
Margin stayed above the reported Industrials peer median
Mold-Tek’s 18.44% operating margin was 6.01 percentage points above the 12.43% median among 75 Industrials companies that had reported the quarter. Sequentially, however, margin has moved down from 18.59% in Q1FY27, making the direction modestly negative across the available quarters.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹274 cr | ₹300 cr | -8.73% |
| Other income | ₹1 cr | ₹1 cr | +22.41% |
| Expenses | ₹224 cr | ₹245 cr | -8.56% |
| Operating profit | ₹51 cr | ₹56 cr | -9.47% |
| Operating margin (%) | 18.44% | 18.59% | — |
| Interest | ₹6 cr | ₹6 cr | -3.50% |
| Depreciation | ₹18 cr | ₹17 cr | +6.28% |
| Profit before tax | ₹28 cr | ₹34 cr | -17.56% |
| Tax | ₹7 cr | ₹9 cr | -17.44% |
| Net profit | ₹21 cr | ₹26 cr | -17.60% |
| EPS (₹) | ₹3.17 | ₹7.70 | -58.83% |
Operating margin of 18.44% compares with a Industrials sector median of 12.43% across 75 peers that have reported Q2FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Pharma recorded 32% growth in the first half.
New products
- The company added Squeeze Lock CRC and Vile Holders as two new product lines.
Competition
- The company says it has a strong presence across major customers including Asian Paints, Castrol, Shell, Mondelez and Hindustan Unilever.
Problems & risks
- The company cites price and supply shocks alongside global volatility and demand shifts.
What to watch
- Whether operating margin holds above 18.44% after the 0.15-percentage-point sequential decline.
- Whether revenue recovers from Rs 274.23 cr while expenses remain below the revenue growth rate.
- Whether the two new product lines add to growth alongside the 32% first-half pharma growth cited by management.