Mold-Tek Q2 FY27: standalone PAT +36% YoY to ₹21.1 Cr, EBITDA/kg beats guidance

Mold-Tek Packaging's standalone Q2 FY27 (quarter ended 30-Sep-2026) print: PAT ₹21.07 Cr, up 36.06% YoY from ₹15.48 Cr, on revenue of ₹274.23 Cr, up 30.73% YoY from ₹209.76 Cr — both running ahead of the 10.08% YoY volume growth, implying a richer product mix drove the gap. No analyst consensus preview for this specific quarter turned up in a search, so the print cannot be benchmarked against a street number; vsStreet is marked unknown rather than guessed. EBITDA rose 29.80% YoY to ₹51.27 Cr, with EBITDA/kg at ₹46.49 — up 30% YoY and above the ₹44-45/kg upgraded guidance management gave on the Q1 FY27 call, a beat on that specific metric. NPM expanded to 7.68% from 7.37% a year ago while OPM was roughly flat (18.70% vs 18.65%), but both eased versus Q1 FY27's 18.59% OPM/8.49% NPM — a sequential dip CMD J Lakshmana Rao frames as the normal Q2 seasonal low rather than deterioration, adding that raw-material cost increases were passed through under pre-agreed customer pricing to protect margins despite geopolitical-driven input volatility. Revenue is tracking toward the "₹1000+ Cr FY27" target flagged last quarter — H1 FY27 stands at ₹574.67 Cr, up 27.62% YoY — though Pharma Packaging's 26.30% YoY volume growth this quarter trails the 50% full-year pharma growth management guided for in July, even as it stays the fastest-growing segment (Food & FMCG incl. Q-Pack +23.70%, Paints +8.61%, Lubricants -12.32%). The Board completed its 1:1 bonus issue this quarter, allotting 3.32 Cr shares on 12-Oct-2026 against the 9-Oct-2026 record date — EPS is restated to ₹3.17 (basic, post-bonus) from ₹6.34 (pre-bonus) for the quarter; figures above use the pre-bonus EPS for comparability with prior periods. Separately, the company disclosed a ₹36.05 lakh tax demand notice on 1-Oct-2026, immaterial to the quarter's P&L. No exceptional items sat in either this quarter or the year-ago quarter, so the 36.06% PAT growth is a clean YoY comparison needing no adjustment. H2 FY27 catalysts flagged by management: commercial IODEX container production starting Q3 FY27, new packs for three more multinational customers from Q4 FY27, eye-dropper moulds ready by Q4 FY27 with production from Q1 FY28, and new dual-pack launches in Q4 — alongside new customer wins (Kannan Fiber, Mittal Polymers, Avakaaya Foods in food; Pharmaforce, Lifewise Pharmaceuticals in pharma) that should feed growth more into FY28 than the remainder of FY27.