Echoing Antique’s views, Janumahanti Laxman Rao, CMD of Mold-Tek Packaging, on Tuesday said that the company has seen one of the best growth rates in the third quarter (Q3).

“In Q3 we have reached one of the best growth rates in our history. We almost covered the deficit of Q1 which was 40-45 percent drop in revenues recovered during Q2 and Q3. We may end with a positive note for Q4 and show an overall positive growth number for the full year. Going forward we are aiming at 15-18 percent annual growth if things are normal for at least next 2-3 years,” he said in an interview to CNBC-TV18.

On revenue contribution, he said, “Paint is around 50 percent, lube is around 25-27 percent, and food is around 23-25 percent. Almost 20 percent of our food sales used to come from ice creams which got affected due to COVID-19. In spite of that we are posting a 20 percent plus growth in the food sector.”

He also said that promoters have increased their stake in the company. “There is a marginal increase of 3 percent holding. We are now currently close to 37.5 from 34.7 last quarter,” he said.

He expects the EBITDA/kg to stabilize around Rs 35 and the debt to come down by more than Rs 60-70 crore in the next 3 years.

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(Edited by : Aditi Gautam)