Mold-Tek Packaging Limited has recently announced the inauguration of 3 manufacturing facilities at Panipat in Haryana, Cheyyar in Tamil Nadu and Sultanpur in Telangana. The total investments made by the company towards the same exceeds over INR 100 crores with a capacity expansion of 5,500 metric tonnes per annum.
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The company has completed the land acquisition for setting up a manufacturing facility at Mahad, Maharashtra for the supply of pails to Grasim Industries Ltd. at a production capacity of 1,500 MTA with an investment of INR 20 crores by Sept/Oct, 2024.
Mold-Tek Packaging Limited is engaged in the manufacture of injection moulded containers for lubes, paints, food, including other products. All these recently inaugurated units are set to start commercial production in the next few weeks. With the aforesaid expansions happening in all these four units, the total manufacturing capacity of Mold-Tek is expected to go up to 54,000 MTA by the end of FY 24-25.
J. Lakshmana Rao, the Chairman and Managing Director of Mold-Tek Packaging Ltd. commented that all these four plants are expected to increase the growth prospects of the company in the coming years, particularly in Pharma Packaging.
Mold-Tek’s Capex for the periods FY 22-23, FY 23-24 & FY 24-25 is INR 148 crores, INR 120 crores and INR 75-80 crores respectively.
The company anticipates volume growth to increase to 15-18 per cent from FY 24-25, with all expansions becoming operative. The company anticipates the Food and Pharmaceutical Industry to contribute at least 50 percent of the total turnover in the next 5-6 years.