Mold-Tek Technologies Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Mold-Tek Technologies Ltd filed with BSE on 18 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Mold-Tek Technologies reported a Q4 FY26 profit of INR 2.28 crores compared to a loss of INR 1.62 crores in Q4 FY25, while full-year PAT declined 17% to INR 10 crores. Management attributed the quarterly improvement to the Beryl acquisition contributing revenue for five months and stronger civil structural work on hand, while a decision was taken to downsize the BIW automobile team from 160 to 60 people due to prolonged weak demand. The company also recorded a mark-to-market forex loss of about INR 4 crores during the quarter due to rupee depreciation.
Numbers mentioned
PAT: INR 2.28 crores (Q4 FY26)
p. 3
“this year we ended up with a profit of INR 2.28 crores, in spite of a huge MTM loss of INR 4 crores on rupee depreciation”
Lakshmana Rao, page 3 of the filed PDF · View the filing
PAT: INR 1.6 crores loss (Q4 FY25)
p. 3
“While last year, Q4, we made a loss of about INR 1.6 crores”
Lakshmana Rao, page 3 of the filed PDF · View the filing
Full year PAT: INR 10 crores (FY26)
p. 3
“The overall year ended up at INR 10 crores total profitability, PAT as against INR 12.16 crores last year, a drop of 17%”
Lakshmana Rao, page 3 of the filed PDF · View the filing
EBITDA: INR 20 crores (FY26)
p. 8
“The EBITDA is INR 20 crores now, down from INR 23 crores last year”
Lakshmana Rao, page 8 of the filed PDF · View the filing
Consolidated EBITDA: INR 19.64 crores (FY26)
p. 8
“Consolidated also EBITDA is INR 19.64 crores and PAT is INR 10.09 crores”
Lakshmana Rao, page 8 of the filed PDF · View the filing
PBT: INR 13.5 crores (FY26)
p. 8
“PBT for the full year is INR 13.5 and PAT is INR 10.57 crores”
Lakshmana Rao, page 8 of the filed PDF · View the filing
Revenue: INR 59 crores (Q4 FY26)
p. 9
“the jump in turnover is 81% from INR 32.6 crores last Q4 to in absolute rupees it is INR 59 crores, 81%”
Lakshmana Rao, page 9 of the filed PDF · View the filing
EBITDA: INR 552 lakhs (Q4 FY26)
p. 5
“Otherwise, the EBITDA has gone up from INR (-42) lakhs INR 552 lakhs, and PBT INR (-2) crores last year quarter Q4 to INR 379 lakhs in this Q4”
Lakshmana Rao, page 5 of the filed PDF · View the filing
CES order book: $5 million (as of Q4 FY26)
p. 11
“Today, the work on hand is close to $5 million”
Lakshmana Rao, page 11 of the filed PDF · View the filing
NES/MES order book: $0.25 million (as of Q4 FY26)
p. 11
“In Q1, it was around $0.5 million, and it is currently at $0.25 million”
Lakshmana Rao, page 11 of the filed PDF · View the filing
Beryl revenue: INR 22.9 crores (5 months FY26)
p. 11
“Beryl standalone, they have done a turnover of INR 11 crores in Q3. So, total is INR 22 crores. Yes, INR 22.9 crores.”
Lakshmana Rao, page 11 of the filed PDF · View the filing
Beryl Q4 revenue: INR 11 crores (Q4 FY26)
p. 12
“The Quarter 4 turnover was INR 11 crores.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
Beryl Q4 profit/loss: INR 70 lakhs loss (Q4 FY26)
p. 12
“So, we had a loss of about INR 70 lakhs, INR 70,000.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
MES loss: INR 1.7-1.8 crores (Q4 FY26)
p. 12
“In this quarter, what is MES loss? INR 1.7-1.8 crores. $200,000, that's about INR 1.9 crores.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
MES annual loss: more than INR 7 crore (FY26)
p. 3
“which in fact caused more than a INR 7 crore loss during the last financial year”
Lakshmana Rao, page 3 of the filed PDF · View the filing
Employee cost as % of revenue: 73% (FY26)
p. 17
“Employee cost is 73% as of this financial year.”
Lakshmana Rao, page 17 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — INR 250 crore · FY27
stated conditionally by Lakshmana Rao
p. 10
“This quarter itself we have done INR 59 crores. So, multiplying by 4, you will see INR 240 crores is easily feasible. So, given some growth here and there, hitting INR 250 crores I think is certainly possible.”
Lakshmana Rao, page 10 of the filed PDF · View the filing
EBITDA margin — 15% · FY27
stated as an aspiration by Lakshmana Rao
p. 10
“I think EBITDA margin should move from 11% to at least 15% is our projection.”
Lakshmana Rao, page 10 of the filed PDF · View the filing
MES automobile team
stated firmly by Lakshmana Rao
p. 12
“No, that is now stopped. The team has been closed from April 1st. March 31st was the last date.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
Danieli Corus contract revenue potential — $0.5 million · next one year
stated as an aspiration by Lakshmana Rao
p. 14
“It can reach a level of about $0.5 million in the next one year's time per annum.”
Lakshmana Rao, page 14 of the filed PDF · View the filing
Poles and towers revenue — $1.5 million to $2 million · this year
stated as an aspiration by Lakshmana Rao
p. 14
“But this year, it should cross $1.5 million to $2 million.”
Lakshmana Rao, page 14 of the filed PDF · View the filing
Beryl margin — 8%-10% · next year
stated conditionally by Lakshmana Rao
p. 15
“So, this year I would conservatively take it at around 8%-10% margin for Baryl.”
Lakshmana Rao, page 15 of the filed PDF · View the filing
Standalone/core business growth — 15%-20% · next year
stated as an aspiration by Lakshmana Rao
p. 15
“But our engineering services from India, now that we have curtailed the excess staff in MES, both the MES and civil from India, that's our core business, standalone business, will certainly go up by at least 15%-20% and EBITDA in the region of 15%-16%.”
Lakshmana Rao, page 15 of the filed PDF · View the filing
Structural design share of civil revenue — 30%-40% · 3-4 years
stated as an aspiration by Lakshmana Rao
p. 7
“And I wish to see in 3-4 years at least 30%-40% of our revenues coming from design.”
Lakshmana Rao, page 7 of the filed PDF · View the filing
Nashik office cost savings — INR 2 crores - INR 2.5 crores per annum · 2027-2028
stated conditionally by Lakshmana Rao
p. 19
“So, probably the cost savings of around INR 2 crores - INR 2.5 crores per annum can accrue in the next financial year, 2027-2028.”
Lakshmana Rao, page 19 of the filed PDF · View the filing
Productivity improvement — 20% · this financial year
stated as an aspiration by Lakshmana Rao
p. 21
“our target is to improve productivity by at least 20% in this financial year, which can substantially improve the bottom line”
Lakshmana Rao, page 21 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management clarified the correct EBITDA figure is INR 20 crores, not the lower figure the analyst calculated
Answered by Lakshmana Rao
Asked by Madhur Rathi: Whether EBITDA has actually fallen to levels seen 11 years ago based on cash flow statement figures
p. 8
“No, no, you are wrong. You are not seeing the correct figure. The EBITDA is INR 20 crores now, down from INR 23 crores last year.”
Lakshmana Rao, page 8 of the filed PDF · View the filing
Management explained the investor did not proceed because the issue price was above prevailing market price, not due to lack of confidence
Answered by Lakshmana Rao
Asked by Madhur Rathi: Whether the cancelled preferential allotment signals a lack of confidence in the company
p. 9
“So, the investor has taken a call not to invest in that $0.5 million which he committed. So, we cannot judge his decision because we can't influence anybody to make a forcible investment.”
Lakshmana Rao, page 9 of the filed PDF · View the filing
Management explained the impact was from mark-to-market losses on forward currency contracts due to rupee depreciation, not depreciation of assets
Answered by Lakshmana Rao
Asked by Samarth Singh: Why depreciation-related items were hitting the P&L given wage-heavy costs
p. 11
“There are INR 5 per dollar. It amounts to almost INR 4.9 crores for the quarter forwards which were done in the past.”
Lakshmana Rao, page 11 of the filed PDF · View the filing
Management said forward cover would be reduced from 100% to 25-50% of turnover and operational EBITDA would be reported separately from MTM gains/losses
Answered by Lakshmana Rao
Asked by Samarth Singh: What the company's hedging policy is going forward
p. 12
“That is why we have also decided to stop the forwards and limit the forwards only to 25%-50% of company's turnover. Earlier it used to be 100%.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
Management confirmed a portion of the acquisition consideration was held back contingent on continued service
Answered by Lakshmana Rao
Asked by Samarth Singh: Whether there is a retention mechanism for Beryl's promoter and team
p. 13
“Yes, we have put that moneys in the lock-in as a standby guarantee. So that about 30% of the acquisition monies were kept aside for a minimum working time of 3 years continued service with the company.”
Lakshmana Rao, page 13 of the filed PDF · View the filing
Management estimated design at roughly 20%, with the remainder split between permitting and inspection
Answered by Lakshmana Rao
Asked by Praneeth: How Beryl's revenue splits between permitting, inspection, and design services
p. 14
“The permitting, inspections and other services contribute around 80%. Design services were around 20%.”
Lakshmana Rao, page 14 of the filed PDF · View the filing
Management said inspections were largely complete and projects were shifting toward design work as defects found in inspections are addressed
Answered by Lakshmana Rao
Asked by Samarth Singh: Whether Beryl's inspection revenue is tied to Florida's SB 4-D mandate and where the company is in that cycle
p. 19
“No, they are in the middle actually. I would say the first phase of inspections are all completed.”
Lakshmana Rao, page 19 of the filed PDF · View the filing
Management clarified the $5 million figure was entirely Mold-Tek's order book, with Beryl's order book being much smaller
Answered by Lakshmana Rao
Asked by Madhur Rathi: Whether the $5 million order book includes Beryl or only Mold-Tek
p. 17
“No, this is completely Mold-Tek order book. Whatever $5 million currently what I have shown in the press note, it is completely for Mold-Tek Technologies.”
Lakshmana Rao, page 17 of the filed PDF · View the filing
Risks flagged
BIW automobile segment demand decline due to slow EV adoption and delayed new model launches
p. 5
“there is a tremendous drop in demand, as the EV, that is the electrical vehicles, have not really taken off well in the world in general”
Lakshmana Rao, page 5 of the filed PDF · View the filing
Mark-to-market losses on rupee forward contracts due to sharp currency depreciation
p. 12
“Rupee was somewhere around INR 83-84 when we started the current financial year. And ended at INR 95 at the end of the year, which was not anticipated.”
Lakshmana Rao, page 12 of the filed PDF · View the filing
Uncertainty around US-India trade talks affecting the Interarch/Affordable Robotic Partnership revenue potential
p. 11
“the trade talks between U.S. and India are in a kind of limbo. And buildings which are supposed to be made by Interarch and provided other services by Mold-Tek are all come under uncertainty”
Lakshmana Rao, page 11 of the filed PDF · View the filing
Attrition of engineering talent in India comparable to other IT/engineering services companies
p. 7
“The attrition rate is in double digits but not very high.”
Lakshmana Rao, page 7 of the filed PDF · View the filing
MES automobile team caused significant losses over multiple years
p. 3
“the company has been bleeding for last at least one and a half, two years, due to reduced workflow in BIW automobile”
Lakshmana Rao, page 3 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.