Mold-Tek Packaging Limited — Interim / Quarterly Report 2022

Jul 28, 2021

MOLD-TEK Packaging Limited (Formerly known as Moldtek Plastics Ltd.)

28" July, 2021

To,The Manager,Department of Corporate Services,BSE Ltd., Phiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai-400001.	The Manager,National Stock Exchange of India Limited,Exchange Plaza, Bandra Kurla Complex,Bandra (E), Mumbai-400051.Ref: MOLDTKPAC - EQ
Scrip Code: 533080

Dear Sir.

Sub: Outcome of Board Meeting dated 281h July. 2021

Highlights: 01 FY'202t

PAT FOR 01 UP BY 670.80% & REVENUE I N 01 UP BY 104.54%

COMPARED TO 91 OF LAST YEAR

Sta ndalo ne Performance Highlights 01 FY22 "S. OJ FY21

• ,. PAT lip by 670.80%,
• .,. EnIOTA up by 174.50%

• Net Revell ue up by 104.54%

• » Volume lip by 63%

Consolidated Perfo rma nce Highlights QI FY22 "S. OlFY21

• ;;... PAT up by 698.35%
• '...- EBIDTA up by t 75.98%
• .,. Net Revenue up by 104.54%
• ~Vol ume up by 63%

\Ve wish to inform Iha!, the Board of Directors at its mccting held on Wednesday, 281~ July, 2021. from 11 :30 a.lll. till dl. : to p.m .. inter-alia;

• 1. Approved the un-a udited Standalone and Consolidated financial results of the company for the quarter ended on 30 '~ June, 2021 . (Enclosed)
• b) Took note of Limited Review Report as issued by Statutory Auditors. (Enclosed)

Corporate Office:

Plot # 700, Road No. 36. Jubilee Hills, Hyderabad - 500 033, Telangana, INDIA. Phone: +91-40-40300300, Fax: +91-40-40300328, E-mai!: ir@moldtekindia.com Website ' www_moldtekgroup.com CIN No: L21 022TG 1997PLC026542

• d) Approved reclassification request of 3 (Three) promoters from "Promoter/Promoter Group" category to "Public" category subject to the approval of the members of the Company and other regulatory authorities.
• e) Approved the Partial Allotment of67,140 Equity Shares under the MTPL ESOS -2016.

Statement of disclosure pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015

Particulars	Details
Brief details of options granted	1,50,000 options were granted on, 20thJuly, 2018
Details of comvliance of Scheme	The scheme is prepared in accordancewithBoardofSecuritiesExchangeIndia (Share Based Employee Benefits)Regulations 2014.
Total number of shares covered by theseoptions	3,00,000
Pricing formula;	Exercise price for the purpose of thegrant of options shall be the price asreduced upto a maximum of 50% of theclosing market price of the equity sharesof the company available on the StockExchange on which the shares of theCompanylistedondatearetheimmediately preceding the grant date,subject to minimum of the face value ofthe Equity Shares. If equity shares arelisted on lTlOre than one stock exchange,then theclosing price on the stockexchange having higher trading volumeshall be considered as the closing marketprice.
Options vested	67,140
withinTimewhichoptionmaybeexercised	Starts from~ the date of vesting andexpires not later than 2 months from thedate of vesting of options.
Options exercised	67)40
Money realized by exercise of options	Rs. IA6,21)00j
The total number of shares arising as a

Corporate Office: Plot # 700, Road No. 36, Jubilee Hills, Hyderabad - 500 033, Telangana, Phone: +91-40-40300~:l00, Fax: +91-40-40300:328, E-mai I: ir@moldtekindia.coril Website: www.rnoldtekgroup.com CIN No: L2W22TG 1997PLC026542

2

result of exercise of option	67,140 Equity Shares of Rs 5/ -each
Options lapsed	NIL
Variation of terms of options	Not Applicable
Brief details of significant terms	aregrantedTheemployeesoptionsunder category-5. Pursuant to which thenumberemployeescanexerciseofoptions.
SubsequentE-l=l.aHb: <es-bf-c-ah€ellat-ien-efexercise of such options</es-bf-c-ah€ellat-ien-ef	Not Applicable
r--Diluted earnings per share pursuant toissue of equity shares on exercise of options	Rs. 4.05 /-*

* As per unaudited financials for the quarter ended 30th June, 2021

NOTIFICATION FOR ISSUE OF SHARES UNDER MTPL ESOS 2016

---------S.No ---_	Particulars
-1	nameandCompanyaddressof	Mold-Tek Packaging Limited
	Registered Office	Regd office: Plot # 700, Road No.
		36, Jubilee I-Ells, Hyderabad -500
		033, Telangana
2	NameoftheStockExchangeson	BSE Limited and National Stock
	which the company's shares are listed	Exchange Limited (NSE)
:~	Filing date of the statement referred in	5th December, 2016 to BSE and on
	regulation 10(b) of the SEBI(Share	6th December, 2016 to NSE
	Based Employee Benefits) Regulations,
	2014 with Stock Exchange:
4	Filing Number, if any	Not Applicable
5	Title of the Scheme pursuant to which	MTPLESOS2016.(The
	shares are issued, if any:	"Schelue").
6	Kind of security to be listed	Equity Shares
7	Par value of the shares	Rs 5/ -( Rupee? five Only)
B r--	Date of issue of shares	28th July, 2021
9	Number of shares issued	67)40
10	Share Certificate No., if applicable	Not Applicable
11	Distinctive number of the share, if	28067111 to 28134250
	applicable
12	ISIN Number of the shares if issued in	INE893J01029
	Demat
	I

Corporate Office:

3

		For Category 1	For Category 2
		41,910 Shares	25,230 Shares
13	Exercise price per share	Rs. 208/-	Rs.234/-
14	Premium per share	Rs. 203/-	Rs.229/-
15	Total Issued shares after this issue	2,81,34,250
16	Total Issued share capital after this	Rs. 14,06,71,250/-
	issue
17	Details of any lock-in on the shares	Not Applicable
18	Date of expiry of lock-in	Not Applicable
19	Whether shares identical in all respects	Yes
	to existing shares if not, when will they
	become identical
20	Details of listing fees, if payable	Not Applicable

Kindly take the above information on record.

Thanking you,

FOR MOLD-TEK PACKAGING LIMITED

MOLD-TEK PACKAGING LIMITED

Registered Office: Plot No.700, 8-2-293/82/A/700 Road No.36. Jubilee Hills, Hyderabad - 500033,Telangana.

CIN : L21022TG1997PLC026542 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2021

	~ In lakhs except for EPS
	Particulars.'	QUilrterEnde<,t			Year~nd.ed
.'SINo		30-Jlln-2021	31-Mar-2021	30-Jun-2020	31-Mar-2021
		Uniludited	Audited	Unaudited	Audited
1	Income
	a) Revenue from operations	13373.04	16104.86	6529.78	47892.54
	b) Other income	11.61	18.75	13.93	60.00
	Total Income	13384.65	16123.61	6543.71	47952.54
2	Expenses
	a) Cost of materials consumed	8199.30	9479.93	3678.23	27776.78
	b) Changes in inventories offinished goods and work-in progress	(351.79)	(300.95)	92.45	(536.70)
	c) Employee benefits expense	889.74	1016.13	676.77	3269.12
	d) Finance costs	264.68	287.47	222.90	994.43
	e) Depreciation and amortization expense	616.12	583.90	486.29	2148.80
	f) Other expenses	2111.37	2584.96	1172.39	7787.35
	Total Expenses	11729.42	13651.44	6329.03	41439.78
3	Profit: before~xceptional items and tilX (1-2)	1655.23	2472;17	214.68	6512 •. 76
4	Exceptional items	-	107.74	-	107.74
5	Profit: before tax (34)	1655.23	2364.43	214.68	6405.02
6	Tax expense
	a) Current tax	406.58	577.75	49.80	1564.18
	b) Earlier year tax	-	(17.46)	-	(17.46)
	c) Deferred tax	40.50	2.89	8.14	50.80
7	Pt'C?fitforthe period (5~6)	1208.l5	1801.25	156:74	4807.50
8	Other Comprehensive Income (net of tax)
	a) Items that will not be reclassified to Profit or Loss
	i) Remeasurement of defined benefit plans	(5.61)	13.06	(11.60)	(21.74)
	ii) Fair value changes in Equity instruments	647.85	(264.65)	35.99	131.26
9	1'9t~l. (;0.mprel)ensive lnc <lmefortheperiod (7+8j<="" td="">1850.391549.66181.13'491'7;02	1850.39	1549.66	181.13	'491'7;02
10	Paid up Equity share capital	1406.54	1395.52	1386.30	1395.52
11	Other Equity				24188.12
12	Earnings per equity share (Face value of ~5) (not Annualised)
	- Basic	4.32	6.19	0.54	16.86
	- Diluted	4.05	5.88	0.54	16.18

Notes:

1 The above results for the quarter ended 30 June 2021 were reviewed by the Audit Committee and approved by the Board of Directors of the Company at the meeting held on 28 July 2021.

• 2 The Company has only one reportable segment as per the requirements of Ind AS 108 "Operating Segments".
• 3 This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 4 The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results.
• 5 During the period, the Company has issued 2,20,280 right equity shares at an exercise price of 'U84, upon conversion of share warrants to Equity shares.
• 6 During the quarter ended 30 June, 2021, India experienced a "second wave" of COVID-19, including a significant surge of COVID-19 cases following the discovery of mutant coronavirus variants in the country. All state governments were implemented regional lockdowns in areas with a significant number of COVID-19 cases. The impact of "second wave" of COVID-19, including changes in customer behaviour and pandemic fears, as well as restrictions on business and individual activities, has led to significant volatility in global and Indian markets and a significant decrease in global and local demand & supply chain. The Company's operations and revenue were also impacted due to second wave of COVID-19.

7 Comparative figures have been regrouped/reclassified to conform to the current period's/year's presentation. ..,~ .... __

for MOLO-TEK PACK .. AGIN'''~'' .. :.(.'~IIV/~i!3'.?f;;}, ....•.. ,. A 1/1 (() . . ," i-lyd"a'lf: C.- /L.'i(k.:·'.·.:'·.·I;" . .".'." . ." J.Lak~~~. Rao (j/.; Chairman & Managlh:~~(re[:-' ' DIN:ob£4l~~;:::/

Hyderabad 28 July, 2021

M. ANANDAM & CO., CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (listing Obligations and Disciosure Requirements) Regulations, 2015

Review Report to The Board of Directors Mold-Tek Packaging limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Mold-Tek Packaging Limited (the "Company") for the quarter ended 30th June, 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disciosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting pri nciples general ly accepted in India. Ou r responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Sta ndard on Review Engagements (SRE) 2410 "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assu rance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures appl ied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disciosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disciosure Requirements) Regulations, 2015, inciuding the manner in which it is to be disclosed, or that it contains any material misstatement.

For M. Anandam & Co., Chartered Accountants (Firm Regn.No.000125S)

/3,. V s.-j6v-tv-t

B.V.Suresh Kumar Partner Membership Number: 212187 UDIN: 21212187AAAAHB5163

Place: Hyderabad Date: 28th July, 2021

MOLD-TEK PACKAGING LIMITED

Registered Office: Plot No.700, 8-2-293/82/A/700 Road No.36. Jubilee Hills, Hyderabad - 500033,Telangana. CIN : L21022TG1997PLC026542

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2021

	~ In lakhs except for EPS
		'.Quarter Enlfi!d			Year Ended
SINo	Particulars•	3D-Jun·2021	31·Mar-2021	3D-iun-2020	31-Mar-2021
		UtI;lUdited	Audited	Unaudited	Audited
1	Income
	a) Revenue from operations	13373.04	16104.86	6529.78	47892.54
	b) Other income	11.61	41.30	13.93	88.50
	Total Income	13384.65	16146.16	6543.71	47981.04
2	Expenses
	a) Cost of materials consumed	8199.30	9479.93	3678.23	27776.78
	b) Changes in inventories of finished goods and work-in-progress	(351.79)	(300.95)	92.45	(536.70)
	c) Employee benefits expense	889.74	1028.31	676.77	3289.34
	d) Finance costs	264.68	287.47	222.90	994.43
	e) Depreciation and amortization expense	616.12	584.22	486.74	2150.48
	f) Other expenses	2111.37	2699.21	1177.35	7913.57
	Total expenses	11729.42	13778,19	6334.44	41587.90
3	profit before exceptional items and tax (1.2)	1655.23	2367.97	209.27	6393.14
4	Exceptional items	-		-
5	Profit before tax (34)	1655.23	2367.97	209.27,	6393.14
6	Tax expense
	a) Current tax	406.58	577.75	49.80	1564.18
	b) Earlier year tax	-	(17.46)		(17.46)
	c} Deferred tax	40.50	2.89	8.14	50.80
7	Ptofitfor the period . (5·6)	1201U5	1804.79	15lo33	4795.62
8	Other Comprehensive Income (net of tax)
	a) Items that will not be reclassified to Profit or Loss
	i) Remeasurement of defined benefit plans	(5.61)	13.06	(11.60)	(21.74)
	ii) Fair value changes in Equity instruments	647.85	(264.65)	35.99	131.26
	b) Items that will be reclassified to Profit or Loss
	i) Exchange differences in translating the financial statements of	0.06	(1.33)	0.12	(10.75)
	a foreign operation
9	Tot\11 CQmprehensiye Income for the period (7-tl1).'	1850.45	·1551.87	175.84	4!l94·39
	Profit for the period attributable to:
	Owners of the parent	1208.15	1804.79	151_33	4795.62
	Non-controlling interests			-	-
	Total comprehensive income for the period attributable to:
	Owners of the parent	1850.45	1551.87	175.84	4894.39
	Non-controlling interests	-		-
10	Paid up Equity share capital	1406.54	1395.52	1386.30	1395.52
11	Other Equity				24200.10
12	Earnings per equity share (Face value of'1:5) (not Annualised)
	- Basic	4.32	6.20	0.52	16.82
	- Diluted	4,05	5.89	0.52	16,14

Notes:

1 The above results for the quarter ended 30 June 2021 were reviewed by the Audit Committee and approved by the Board of Directors of the Company at the meeting held on 28 July 2021.

2 The above results include results of wholly owned subsidiary, Mold-Tek Packaging FZE, UAE.

• 3 The Group has only one reportable segment as per the requirements of Ind AS 108 "Operating Segments".
• 4 The Consolidated financial results are prepared based on Ind AS 110 "Consolidated Financial Statements".
• 5 This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 6 The Statutory Auditors of the Parent Company have carried out a Limited Review of the aforesaid results.
• 7 During the period, the group has issued 2,20,280 right equity shares at an exercise price of 'l;184, upon conversion of share warrants to Equity shares.
• 8 During the quarter ended 30 June, 2021, India experienced a "second wave" of COVID-19, including a significant surge of COVID-19 cases following the discovery of mutant coronavirus variants in the country. All state governments were implemented regional lockdowns in areas with a significant number of COVID-19 cases. The impact of "second wave" of COVID-19, including changes in customer behaviour and pandemic fears, as well as restrictions on business and individual activities, has led to significant volatility in global and Indian markets and a significant decrease in global and local demand & supply chain. The Group's operations and revenue were also impacted due to second wave of COVID-19.

9

Hyderabad 28 July, 2021

M. ANANDAM & CO., CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on the Quarterly Consolidated Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review Report to The Board of Directors Mold-Tek Packaging Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Mold-Tek Packaging Limited ("the Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as "the Group") for the quarter ended 30'h June, 2021 ("the Statement")' being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles genera lly accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement s (SR E) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Sta ndards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significa nt matters t hat might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Li sting Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the subsidiary Mold-Tek Packaging FZE, UAE
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the financial results of the subsidiary referred to in paragra ph 6 below, nothing has come to our attention that causes us to believe that t he accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201S, as amended, including t he manner in which it is to be disclosed, or that it contains any material misstatement h :):::J==Y==O:::"'" a ., iI:

°0 ,,'"

1. We did not review the interim financial results of the subsidiary included in the consolidated unaudited financial results, whose interim financial results reflect total revenue of Rs. Nil, total net profit/(Ioss) after tax of Rs. Nil and total comprehensive income/(Ioss) of Rs. Nil for the quarter ended June 30, 2021 as considered in the consolidated unaudited financia l results. These interim financial results have been furnished to us by the Board of Directors and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of the subsidiary is based solely on such financial information. According to the information and explanations given to us by the Board of Directors, the financial results of the subsidia ry are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For M.Anandam & Co., Chartered Accountants (Firm Regn.No.000125S)

}5,.:v J..~

B.V.5uresh Kumar Partner Membership Number: 212187

UDIN: 21212187AAAAHC9490

Place: Hyderabad Date: 28th July, 2021

Press Release

28th July, 2021

MOLDTEK PACKAGING LIMITED

Highlights: 01 FY'2021

PAT FOR 01 UP BY 670.80% & REVENUE IN 01 UP BY 104.54% COMPARED TO 01 OF LAST YEAR

Standalone Performance Hie:hlights Q1FY22 vs. QlFY21

• PAT up by 670.80%

• EBIDTA up by 174.50%

• Net Revenue up by 104.54%

• Volume up by 63%

Consolidated Performance Highlights QlFY22 vs. 91FY21

• • PAT up by 698.35%

• • EBIDTA up by 175.98%

• • Net Revenue up by 104.54%

• • Volume up by 63%

Commenting on the Company's performance for 91 FY2021, Mr. Lakshmana Rao, Chairman & Managing Director, Mold-Tek Packaging Limited said that: In spite of Covid -19 second wave in Q1 of FY 22 the Company could delivered excellent results owing to better product mix and sustained demand.

liThe Paints sector business more than doubled as they achieved stellar revenues over the lower base of last year due to first nationwide lockdown. Our business registered strong growth in value and volume in comparison to Q1 FY 21, indicative of a strong growth trajectory. The Lubes business also doubled on last year's lower base. Pumps division started contributing to the revenues in this quarter. It is a resilient performance across all business segments despite the challenges posed by the second Covid wave, which disrupted business continuity from the second fortnight of April 2021. We registered strong growths in April 2021 and a robust rebound in June 2021, post May 2021 which was impacted in a big way.

In Q1 of FY22 in spite of severe impact of Covid-19 second wave, revenues grew 104% compared to Q1 of fy 20-21 PAT grew by a stellar 670%. However when compared to Q4 of the are down by 17% and PAT down by 33%.

Plot # 700, Road []0. 36, Jubilee Hills, - 500 033, Telangana, Phone: +91-40-40300C300, Fax: +91-40-40300328, E-mai I: ir@moldtekindia.com Website: www.moldtekgroup.com CIN No: L2i022T(,1997PLC026542

Steep inflation in raw material prices in the last quarter of previous financial year started tapering down improving our margins. All segments showed healthy profits compared to first quarter of last year and net profit rose 7.7 times. We continue to strongly engage with all our stakeholders and are confident of our organization's capability to maximize on the expected uptick in the business conditions as we move forward.

Mold-Tek Packaging Limited Standalone Results. Ql-FY'21: For the quarter ended June 30, 2021, Revenue from operations increased by 104.54% to , 133.85 crores from , 65.44 crores. EBDIT for the quarter increased by 174.50 % to , 25.36 crores from, 9.24 crores. Net Profit increased by 670.80% to , 12.08 crores as compared to , 1.57 crores in the previous corresponding period.

New Customers& developments:

Moldtek has progressed considerably in the last few years with its products, technological and engineering capabilities, keeping in mind the evolving needs of the packaging industry, along with environmental concerns. In spite of Covid we continue to invest in new technologies and products to ensure that we are future-ready and have a better outreach of sustainable packaging solutions to our esteemed clients.

Moldek has recently bagged the orders from new customers like BPCL, Gulf, e.G Foods, Kem Agro, Ganapathy Herbal, Virtual Packaging & Association, Sat yam Food Processing, Bio Veda Action Research Company, Redex Aqua Solutions, and Gulf Oil Egypt etc.

Commercial supply of Pumps, Triggers:

The Company has successfully started commercial supplies of pumps for all leading Companies and Order book is gradually improving.

QR-coded IML:

The company has successfully launched QR coded IML a futuristic packaging with complete traceability all across the supply chain. There is considerable interest for this new concept, and soon we expect commercial trials by our customers. We expect this feature to bring in considerable interest from Paints, Lube & Food & FMCG companies.

Additional Capacity:

In view of consistent demand and based on our customer trends, the company has gradually added capacities in the Satara, Mysore, Vizag & Hyderabad plants in the last few months. Further, we have doubled our IML label production capacity by adding an Italian flexo machine in the last year.

New Plant at Uttar Pradesh:

We are glad to inform to inform you that Company has acquired land from UP Govt through e-auction for setting up a new plant at Uttar Pradesh to cater the needs of all North region clients. However to save time Company starting operations in a leased premises near Kanpur by October, 2021.

LOOKING AHEAD:

During the first quarter of the current year the business was severely disrupted due to second wave of Covid-19. The production has also taken a hit during the first quarter due to scarcity of labour on account of large infection in rural areas .. With the waning of second wave, the labourers are back and the production is running at full capacity now.

Going forward we are confident of achieving double digit growth and improved profitability for next few years owing to expansion and widening of product range with higher value addition.

About Moldtek Packaging Limited

Moldtek Packaging Limited is the leader in manufacturing injection moulded rigid plastic packaging containers (BSE Code: 533080). Mold-tek has been the innovator and torch bearer in introducing many world class packaging products in India for Lubes, Paints, Food and FMCG products. Mold-tek is the first Company in India to introduce "In-Mold Labeling (IML)" concept for decorating plastic containers using ROBOTS. IML enables photographic quality decoration with complete hygienic and hands free production of containers suitable for food and FMCG products. Mold-Tek is the only packaging Company in the world to design and manufacture in house ROBOTS for the IML decoration apart from manufacturing IML labels in-house.