Mold-Tek Packaging, said that it has been selected as Packing Material Supplier by Grasim Industries’ Birla Paints Division, for supply of Packing Material (PAILS). The plastic packaging manufacturing company also said that a co-located facility will be set-up by the company at Mahad in Maharashtra.

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In an exchange filing, Mold-Tek Packaging said , “We are glad to inform you that the Company has been awarded/selected as Packing Material Supplier by Grasim Industries Limited- Birla Paints Division, for supply of Packing Material (PAILS) and accordingly, a co-located facility will be set-up by the Company at Mahad in Raigad District of Maharashtra to cater to their demands.”

Mold-tek Packaging reported its Q3FY23 earnings at the start of February. The company reported a loss of Rs 16.3 crore against Rs 16.7 crore in the same quarter last year. The margin also contracted to 18.4% in the third quarter as compared to 19.7% in the same quarter last year.

Last year in November, Mold-Tek Packaging received a LoA From Grasim-Birla paint division for supply of packing material. The company also said that it will set up a facility at Cheyyar near Chennai to cater to Grasim’s demands.

Mold-Tek Packaging rose less than 1 percent today to Rs 948, while it is down 3 percent on a year to date basis.