• EBITDA margin target: Full-year EBITDA is expected around ₹44–₹45 per kg (at minimum ₹42–₹43 per kg), driven by high double-digit growth in food and FMCG, over 50% growth in pharma, and a ₹2–₹3 per kg operational benefit from plant consolidation.
• Segmental volume trends: Mold-Tek passed on March raw-material price hikes across all divisions and saw solid volumes in paints, food/FMCG, and pharma, though lubricant volumes dipped due to base-oil supply constraints at major client refineries.
• Capex and product pipeline: FY25 capex is moderated to around ₹90 crore (including ₹30–₹40 crore for maintenance), with commercial rollout of ophthalmic drops planned by December and 4–5 new pharma products launching this year.
• Semiconductor packaging expansion: The company is initiating plans to enter high-precision semiconductor (JEDEC) tray packaging, scheduling visits to Taiwan and China in July and August to explore technical partnerships for commercialization over the next 1–2 years.
• Balance sheet leverage: Debt levels remain low with a debt-to-equity ratio of approximately 0.25, providing borrowing room for major future projects while near-term focus stays on scaling utilization at Panipat and Cheyyar.