Mold-Tek Packaging inaugurates three plants; manufacturing capacity to go up to 54,000 MTA by end of FY 24-25

Mold-Tek Packaging Ltd (MTPL) has inaugurated three manufacturing plants at an outlay of over Rs 100 crores. The plants - situated in Haryana, Tamil Nadu and Telangana - will help in capacity expansion of 5,500 metric tonnes per annum (MTA).

Mold-Tek also acquired land at Mahad in Maharashtra to set up another manufacturing plant. According to a release, this plant will be operational by September/October this year and add a production capacity of 1,500 MTA. 

Mold-Tek Packaging Limited is involved in the manufacturing of injection moulded containers for lubes, paints, food and other products.

All these units (three units inaugurated recently) will go into commercial production within the next few weeks and with all these four expansions Mold-Tek's total manufacturing capacity will go up to 54,000 MTA by the end of FY 24-25, it said.

MTPL Chairman and Managing Director J Lakshmana Rao said that these four plants will enhance the company's growth prospects in the coming years especially in Pharma Packaging.

Mold-Tek expects volume growth to ramp up to 15-18 per cent from FY 24-25 with all expansions becoming operative.

The company's long-term plan is to have food and FMCG and Pharma contribute about 50 per cent of the total turnover in the next five to six years, Lakshmana Rao added.