Mold-Tek Packaging Limited — Interim / Quarterly Report 2022

Sep 15, 2022

Date: 15th September, 2022

The Secretary,	The Manager, Listing Department,
Listing Department,	National Stock Exchange of India Limited,
BSE Ltd.,	Exchange Plaza, 5th Floor, Plot No. C/1,
Phiroze Jeejeebhoy Towers,	G Block, Bandra Kurla Complex,
Dalal Street, Fort, Mumbai-400001.	Bandra (E), Mumbai-400051.
Scrip Code: 533080	Symbol: MOLDTKPAC - EQ

Dear Sir/Madam,

Sub: Disclosure on Analyst / Institutional Investor Meeting under the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.

Further to our letter dated 14th September, 2022 on the captioned subject and in terms of Regulation 30(6) read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (the 'Regulations'), please find below the details of the meeting held with Fund/Broking House/Company/analysts/Institutional Investors:

Date	Name of Fund/BrokingHouse/Company/Analysts/InstitutionalInvestors	Venue	Type ofMeeting
15-09-2022	Bajaj Allianz Life Insurance	Virtual	1*1

The presentation made on the said meeting is enclosed herewith.

Kindly take the above on record.

Thanking you,

Yours faithfully,

For Mold-Tek Packaging Limited SUBHOJEET BHATTACHARJE E Digitally signed by SUBHOJEET BHATTACHARJEE DN: c=IN, o=Personal, pseudonym=7121abc97c57ae3d59ddf303026f92115 postalCode=700047, st=WEST BENGAL, serialNumber=3a2259e3e2cf9a3468269d35a52ae2e 200c1d3562e60ad45108164fc9bf1cbfe, cn=SUBHOJEET BHATTACHARJEE

Subhojeet Bhattacharjee Company Secretary & Compliance Officer

Encl: A/a

INVESTOR PRESENTATION

(BSE: 533080; NSE:MOLDTKPAC)

Sep 15, 2022

www.moldtekpackaging.com

Table of Contents

Moldtek Snapshot

10 ISO CERTIFIED U N I T S

PUBLICLY LISTED WITH INR ~2,281cr Market cap

100% recyclable.

MTPL commands strong presence across all major customers like Asian Paints, Castrol, Shell, Mondelez, Hindustan Unilever, etc.

photographic labels, produced by 100% hands-free operation & are

Superior margins in the packaging industry due to the cost advantage emanating from backward integration

Established in 1986, one of the leading players in rigid plastic packaging in India. Publicly listed in 1993

Manufactures injection molded containers for lubes, paints, food &other products

10 Manufacturing Units, 2 stock points PAN India. Current installed Injection molding capacity of over 45,000 TPA

Pioneers in the field of In-Mold labelling (IML) in India. HD

FOOD PACKAGING

Constant Innovation

Pioneers in launching newer & better designs

First to introduce

Innovations to

Surge ahead

• Plastic pails for paints & lubes in India
• IML Decoration Photo realistic & Hands-free
• In-house robots & label Most cost effective

Flexibility Change your design at ease

• In-house mould design, mould making, IML making, Robot making
• In-house Design studio
• Rapid prototyping & 3D modelling

Quick Cycle Times

Better Productivity & Asset utilisation

Multi-cavity moulds to boost productivity

• Automated hopper mechanism for RM & MB
• UmbrellaTM cooling mechanism in moulds
• Quick maintenance & mould development

PAINT PACKAGING

Continuous Focus on Innovation

We recognize the importance of continued innovation in packaging products to cater the needs of various customers. As part of our efforts, we have been continuously working towards enhancing the utility and feature of our existing products and create new packaging products

Focus on cost reduction and improving cost efficiency

Through our research and innovation, we adopted various cost reduction measures including installation of high speed machines, low cycle times, backward integration- EBIDTA has increased considerably during the last few years

Continue to invest in research to develop new products

Focusing on R&D with new features , more efficient machine , new technologies. We consistently invest in R & D to innovate and widen product range

Increasing contribution from food, FMCG industry and IML products

With customization of IML technology and quality accreditation, we have been able to make headway in food and FMCG industry. As one of the first companies to introduce IML in India, we are in a better position to leverage our experience and increase contribution from this segment

PAINT PACKAGING

• Paint Pails in 8th GEN molds Better performance all round from 1 to 20 lts
• Capacity expansion for APIL at Vizag & Mysore
• New Paint company considering us preferred partner status for pails

Amongst the few companies which has got a 'green channel clearance' from Asian Paints for all plants

Spout Lid

LUBES PACKAGING

• Range of lubricant pails over various quantity levels ranging from 5ltr-25ltr
• DEF new pack drives good growth over last quarter
• Long term contracts with giants like Gulf, Shell & many others

CCD Lid

Moldtek Packaging Flat Lid

Limited

FOOD PACKAGING

Added 120 new clients in FY21-22 with INR 13.5 Cr revenue

Thin-Wall

• Ice cream majors grew @ almost 100% growth rate KW, Arun, Amul
• New pack for sweets launched, mold being made for restaurants
• Expanding TW food section to West (Daman) & North

Q-Pack

• Dairy growth >50%; Agro & Supplements growth >90%
• While edible oil segment reduced, >25 new segments added like Cashews

CUSTOM PACKS

• Kick starting IBM project with a P.O in hand from IODEX (GSK)
• Kissan new jam pack for Unilever to be supplied from Daman TW section
• Horlicks new 1kg & 2kg SKUs molds developed & to start within few months

DISPENSING PUMPS

LOCKDOWN DISPENSING PUMPS

• 24 & 28mm twist lock & Lock down pumps with fully automatic assembly
• 100% leak testing unlike competitors who do batch testing
• New additions Ganapathy Herbals, Wow LifeSciences, Himalaya Wellness

TWIST & LOCK DISPENSING PUMPS

Future Roadmap & Plans

The company has significant growth plans in the next 2-3 years with focus on high value adding products through both product & geographical expansion

Injection Blow Molding

Digital Packaging Expansion

IBM with clean room manufacturing

Leverage our grip in Injection Molding (Mold design, IML, productivity) and provide low weight options to customers in Pharma, FMCG & Cosmetics

New Products, Plants & Industries

• Launch 3-4 concept products every year
• New plants in Kanpur, Hyderabad & double capacities in Vizag & Mysore • Entering new industries like Seeds, Cheese, Fertilizers, Sweets etc.

Variable QR coded IML

Receiving good response across industries. Expecting growth in IML share from existing customers and entry into new industries through this feature

In addition to these, the company is

• Confident of increasing IML adoption even in traditional industries.
• Gearing up to continue 30-40% YOY growth in Food & FMCG sales.

Injection Blow Molding Project Update

Regulated Pharma

Significant market size and business opportunity Requires DFM & USFDA approved manufacturing processes

FMCG & Cosmetics

Huge market with immense growth potential. Requires Hygiene and best decoration

Domestic Pharma

Rapidly growing market. Requires Hygiene and innovative concepts

PROJECT PROGRESS

Implementation is in full swing and on target with all departments involved

Infrastructure

• Building for phase 1 is constructed and interiors are underway
• Molds, Machines have been ordered

Compliance

• Clean room manufacturing process training underway
• Standards being implemented

During the DMF approval stage (FY22-23), plans to start supplies to FMCG & Cosmetics – encouraging discussions with potential customers

Marketing

Approaching potential customers and response is encouraging

Digital IML

Unique QR coded IML with partially peel-able feature gives tremendous scope to customers

Moldtek supplies each container with 2 unique QR codes – one on the surface and another under the peel off. Top QR provides Unique identity while beneath QR gives loyalty benefits

The surface QR code will be used for Trace & Track / pushing information content

One time peel off feature will provide Authenticity – Anticounterfeit

After purchase, the Buyer peel off & Scan the QR code on the reverse of the label.

Peeled => Used once Replace coupons & manage promotions

Track & Trace through the distribution supply chain

Embed new-age Promotions through QR code scans

Push Information & Training content on the dynamic QR code

PROJECT PROGRESS

Customer's response is encouraging. Already received first confirmed Order

Infrastructure

Already in place; samples for customer trials underway

Technology

Entered into MOU with IT service provider to provide track & trace & promotions platforms.

Trials

Active trials at Paint (1), Lubricant (3) & FMCG (4) companies

Customers Added in Q1

Moving towards seasonal Encouraging customer additions

immunity

This quarter, in addition to multiple new customers across industries, the company was able to re-connect with inactive customers

82 New Food & FMCG customers added in Q1

New designs processed for our customers in Q1

New SKUs processed in Q1

Key Financial Highlights - Quarter

Snapshot

Finacial Performance & Highlights

INR 25.77 Crores raised through Rights Issue during the quarter

The Company has issued 18,67,518 rights equity shares at an exercise price of ₹184 upon conversion of detachable warrants into equity shares.

Revenue

The Company recorded a total revenue of INR 207.83 cr in Q1, compared to INR 133.73 cr in last year Q1 – a growth of 55%

Margins

The EBIDTA increased from INR 25.41cr in Q1FY'22 to INR 37.3cr in Q1FY'23, a growth of 47%. During the same period, PAT increased by 80% from INR 12 cr to 21.71 cr in Q1FY'23

Profit & Loss Statement

PARTICULARS IN (RS. CRORE)	Q1 FY23	Q4 FY22	Q1 FY22	YoY %	Q1oQ4 %	12M FY22	12M FY21	YoY %
Revenue	207.83	177.92	133.73	55%	17%	631.47	478.92	32%
Other Income	0.13	1.05	0.12	8%	-88%	1.56	0.60	160%
Total Expenditure	170.66	146.15	108.44	57%	17%	510.78	382.97	33%
Material Cost	126.64	110.17	81.99	54%	15%	384.82	277.77	39%
Changes in FG & WIP	2.33	-1.35	-3.52	-166%	-273%	-8.23	-5.36	54%
Employee Benefit Expense	10.87	10.62	8.9	22%	2%	38.68	32.69	18%
Other Expense	30.82	26.71	21.07	46%	15%	95.51	77.87	23%
EBITDA	37.3	32.82	25.41	47%	14%	122.25	96.55	27%
EBITDA Margin(%)	17.95%	18.45%	19.00%	-105bps	-50 bps	19.36%	20.16%	-80 bps
EBITDA per KG	41.27	39.11	42.49	-3%	6%	41.80	36.72	14%
Finance Costs	1.01	1.13	2.69	-62%	-11%	9.32	9.94	-6%
Depreciation and Amortisation	7.13	6.87	6.16	16%	4%	26.42	21.48	23%
PBT	29.16	24.82	16.56	76%	17%	86.51	65.13	33%
Tax Expense & Exceptional item	7.45	7.51	4.47	67%	-1%	22.85	17.04	34%
PAT	21.71	17.31	12.09	80%	25%	63.66	48.09	32%
PAT Margin(%)	10%	10%	9%	141 bps	27 bps	10%	10%	4 bps
EPS Basic(Rs.)	6.69	5.68	4.32	55%	18%	22.12	16.86	31%

Operating Expenditure

PARTICULARS	UOM	FY23	FY22	YoY %	FY22	QoQ%	FY22	FY21	YoY %
Q/Y		Q1	Q1		Q4		12M	12M
RM COST	Rs. Cr.	111.25	66.83	66%	94.89	17%	324.36	229.63	41%
CONSUMABLES	Rs. Cr.	20.91	13.55	54%	16.33	28%	61.05	49.32	24%
STAFF COST	Rs. Cr.	10.87	8.90	22%	10.62	2%	38.68	32.69	18%
CONT MP COST	Rs. Cr.	8.08	6.02	34%	7.21	12%	26.77	20.89	28%
POWER COST	Rs. Cr.	7.03	4.58	54%	5.27	33%	19.88	16.73	19%
M/C MAIN	Rs. Cr.	1.39	0.98	42%	0.95	46%	4.28	2.83	51%
MOULD MAIN	Rs. Cr.	0.48	0.49	-2%	0.68	-29%	2.77	1.34	107%
MAIN BUILD	Rs. Cr.	0.57	0.11	434%	0.29	99%	0.63	0.53	19%
MAIN OTHERS	Rs. Cr.	0.63	0.44	43%	0.68	-7%	2.30	1.56	48%
FREIGHT COST	Rs. Cr.	6.78	4.41	54%	6.24	9%	20.43	17.98	14%
TRAVEL COST	Rs. Cr.	0.63	0.25	153%	0.39	60%	1.56	0.78	101%
CSR COST	Rs. Cr.	0.03	0.17		0.94		1.12	2.21
BAD DEBTS	Rs. Cr.	0.06	0.07		0.03		0.14	0.16
ADMIN COST	Rs. Cr.	1.93	1.66	17%	1.63	19%	6.77	6.32	7%
TOTAL		170.65	108.44	57%	146.14	17%	510.74	382.97	33%
PRODUCTION	Tons	9144	6429	42%	8406	9%	30144	26909	12%
SALE	Tons	9037	5978	51%	8395	8%	29250	26293	11%

Customer Segment Analysis

Revenue breakdown for major segments

Capacity Utilisation

UNIT	Capacity in MT12m	Capacity in MT in3M (Q1)	Production	Utilisation (%)
Unit I	13850	3463	2925	84%
Unit II	3750	938	722	77%
Unit III	9700	2425	1927	79%
Unit IV	1250	313	240	77%
Unit VII	5040	1260	914	73%
Unit VIII	5400	1350	1254	93%
Unit IX	4800	1200	1010	84%
Unit XI	1500	375	153	41%
TOTAL	45290	11323	9145	81%
VI (Film)	750	188	139	74%

Company First time in the history achieved more than 9000MT sales volume in a Quarter and hope to achieve 36000MT against 29250MT in FY22

Capacity Expansion

THIN-WALL	BULK PACKS	IBM	IML LABELS	TOOL ROOM
•4700 MTwill beaddedSulthanpur,Daman	•2600MT willbe addedDaman,Vizag,Hyderabad,Kanpur	•2000MT willbe setupSulthanpur,Hyderabad	•Doublingcapacity to4.5 crlabelsper month	•Per monthcapacity willincreasefrom 4 in2021 to 8 in2023

In addition to this, the company is planning to add new designs & shapes for Food, FMCG & Lubricant industry

PROJECT	AMOUNT IN CR.
SULTANPUR (PHARMA & TW)	50
DAMAN NEWPLANT	30
LABEL(PRINTING & CUTTING)	17
TOOLROOM	5
ADDINGCAPACITY TO EXISTING PLANTS	23
TOTAL	125

THANK YOU