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Mold-Tek Technologies Annual Report 2023 Summary

Updated: Oct 7, 2023

1. Mold-Tek Technologies Limited, a leading global provider of Engineering and Technology Solutions, is experiencing robust growth across its divisions. Specializing in Civil and Mechanical Engineering services.

2. On a Consolidated level, Company achieved revenue of $18.212 million in FY 2022-23 compared to $13.253 million in FY 2021- 22, a growth of 37.42% in dollar terms and Rs.14,687.56 Lakhs in FY 2022-23 as against Rs. 9,835.34 Lakhs during the previous year FY 2021-22, i.e., a growth of 49.33 % in rupee terms.

3. The Civil and Structural Division experienced a revenue increment of 25.92% in dollar terms, reaching $14.733 million, due to quality-focused projects and strategic expansion including the addition of connection and member design capacities.

4. The Mechanical Division showcased an impressive growth of 124.16%, attaining $3.479 million in revenue, driven by a focus on Electric Vehicles (EV) and expansions in the Mechanical Division to meet increased demand for BIW projects, with the WOH increased to $1.10 million.

5. The company strategically seeks more clients, anticipating a surge in performance due to a persistent workload and is adding high-value engineering services to boost revenue. It’s also solidifying its reputation as a comprehensive design partner by exploring vertical integration prospects in automotive and non-automotive sectors.

6. A focus on customer interaction, automation, global expansion, and potential acquisitions, supported by new trainee onboarding, are part of the company’s strategic efforts. Mold-Tek is also targeting the US market, exploring opportunities in the United States, and on-site prospects for engineers in Europe and Mexico, promising potential revenue growth in the future.

7. The company’s presence in the robust North American Construction Market, estimated at USD 2.35 trillion in 2023, offers significant growth potential.

8. The geopolitical crisis and economic slowdown in various regions have impacted the engineering exports from India, with a 4.57% decline observed in FY 2022-23. However, India’s capital goods sector is anticipated to witness a resurgence due to investments in infrastructure and renewable energy.

9. Mold-Tek is capitalizing on the rising demand for structural steel across industries like transportation, construction, shipbuilding, and mining, focusing on structural and detailing engineering services.

10. The company is actively anticipating the acquisition of fresh clientele, particularly in the realms of Fixed teams and Precast Concrete design/detailing services. These avenues hold significant promise for growth and development.Notably, advancements in quality and the adherence to timely project execution have yielded fruitful outcomes. Tier 1 clients are now presenting larger projects at competitive hourly rates.

11. The establishment of capacities for connection design and member design marks a pivotal stride. This strategic move positions the company to explore highvalue engineering services, fostering the augmentation of both revenue and profitability.

12. Furthermore, a commendable increase in billing for Fixed Teams has been realized, with a positive outlook for further amplification in the Civil division’s performance. The prevailing abundance of ongoing projects is set to persist, coupled with the projection of new entrants into the Fixed teams and Precast Concrete design/detailing services, both of which offer enticing growth prospects.

13. Investments in operational streamlining through automation and process enhancements are set to boost productivity levels, cut down lead times, and elevate client satisfaction. These concerted efforts are geared to sustain our growth and profitability in the upcoming year

14. By harmonizing our strengths with market dynamics and building on our recent achievements, Mold -Tek Technologies Limited Mechanical Division is perfectly poised to seize new opportunities and reach higher targets in the year ahead.

15. We anticipate continued growth in civil and mechanical engineering services due to considerable work on hand and improved quality. We plan to expand our client base through exploring opportunities for Mechanical engineering services in USA markets, and our alignment with sustainable engineering practices positions us to lead in environmental stewardship.



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