Mumbai, Sept. 9 -- The agency has affirmed the short-term rating at '[ICRA] A1'.

ICRA stated that the revision in the outlook on Mold-TEK Packaging's (Mold-Tek) long-term rating to 'positive' from 'stable' considers the expected improvement in the company's credit profile supported by growth in earnings on the back of healthy demand from recently added customers for plastic packaging products, and scale-up of the pharmaceutical segment.

ICRA expects the company to clock a revenue growth of 12-16% in FY2026, supported by healthy volume growth and realisations, along with scale-up of volumes in the pharmaceutical division and supplies to recently added customers. Operating margins are expected to remain healthy at 18-19% supported by a he...