MOLD-TEK PACKAGING 2021-22 Annual Report Analysis

Sat, 17 Sep

MOLD-TEK PACKAGING has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

MOLD-TEK PACKAGING Income Statement Analysis

• Operating income during the year rose 31.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 27.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.1% in FY22 as against 19.8% in FY21.
• Depreciation charges increased by 22.9% and finance costs decreased by 6.4% YoY, respectively.
• Other income grew by 76.9% YoY.
• Net profit for the year grew by 32.7% YoY.
• Net profit margins during the year grew from 10.0% in FY21 to 10.1% in FY22.

MOLD-TEK PACKAGING Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	4,789	6,315	31.9%
Other income	Rs m	9	16	76.9%
Total Revenues	Rs m	4,798	6,330	31.9%
Gross profit	Rs m	946	1,208	27.7%
Depreciation	Rs m	215	264	22.9%
Interest	Rs m	100	94	-6.4%
Profit before tax	Rs m	639	865	35.3%
Tax	Rs m	160	229	43.1%
Profit after tax	Rs m	480	637	32.7%
Gross profit margin	%	19.8	19.1
Effective tax rate	%	25.0	26.4
Net profit margin	%	10.0	10.1

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MOLD-TEK PACKAGING Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 927 million as compared to Rs 2 billion in FY21, thereby witnessing an decrease of -43.3%.
• Long-term debt stood at Rs 254 million as compared to Rs 166 million during FY21, a growth of 52.7%.
• Current assets rose 57% and stood at Rs 3 billion, while fixed assets rose 14% and stood at Rs 3 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 6 billion as against Rs 5 billion during FY21, thereby witnessing a growth of 32%.

MOLD-TEK PACKAGING Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	2,403	4,381	82.3
Current Liabilities	Rs m	1,636	927	-43.3
Long-term Debt	Rs m	166	254	52.7
Total Liabilities	Rs m	4,517	5,940	31.5
Current assets	Rs m	1,856	2,906	56.6
Fixed Assets	Rs m	2,662	3,034	14.0
Total Assets	Rs m	4,517	5,940	31.5

MOLD-TEK PACKAGING Cash Flow Statement Analysis

• MOLD-TEK PACKAGING's cash flow from operating activities (CFO) during FY22 stood at Rs 20 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -548 million, an improvement of 7.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 565 million, an improvement of 689% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 37 million from the Rs 1 million net cash flows seen during FY21.

MOLD-TEK PACKAGING Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	605	20	-96.7%
Cash Flow from Investing Activities	Rs m	-509	-548	-
Cash Flow from Financing Activities	Rs m	-96	565	-
Net Cash Flow	Rs m	1	37	5,757.1%

Current Valuations for MOLD-TEK PACKAGING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 20.4, an improvement from the EPS of Rs 16.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 987.6, stands at 44.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.5 times, while the price to sales ratio stands at 4.9 times.
• The company's price to cash flow (P/CF) ratio stood at 20.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	169.1	202.1
TTM Earnings per share	Rs	16.9	20.4
Diluted earnings per share	Rs	14.5	19.2
Price to Cash Flow	x	18.7	20.9
TTM P/E ratio	x	27.1	44.6
Price / Book Value ratio	x	3.4	4.3
Market Cap	Rs m	8,218	18,817
Dividends per share (Unadj.)	Rs	7.0	8.0

Ratio Analysis for MOLD-TEK PACKAGING

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.1x during FY22, from 1.1x during FY21. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 10.2x during FY22, from 7.4x during FY21. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 14.5% during FY22, from 20.0% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 20.7% during FY22, from 28.8% during FY21. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 12.3% during FY22, from 12.8% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.1	3.1
Debtors’ Days	Days	687	827
Interest coverage	x	7.4	10.2
Debt to equity ratio	x	0.1	0.1
Return on assets	%	12.8	12.3
Return on equity	%	20.0	14.5
Return on capital employed	%	28.8	20.7

To see how MOLD-TEK PACKAGING has performed over the last 5 years, please visit here.

MOLD-TEK PACKAGING Share Price Performance

Over the last one year, MOLD-TEK PACKAGING share price has moved up from Rs 563.6 to Rs 987.6, registering a gain of Rs 424.0 or around 75.2%.

Overall, the S&P BSE SENSEX is up 0.2% over the year.

(To know more, check out historical annual results for MOLD-TEK PACKAGING and quarterly results for MOLD-TEK PACKAGING)

Read: Latest Annual Report Analysis of MOLD-TEK PACKAGING