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1 — At a Glance
Mold-Tek Technologies designs steel connections and substations from Hyderabad for clients in the United States. In the three months to June 2025, revenue was ₹33.29 crore. Operating profit that quarter came to ₹0.47 crore, an operating margin of 1.41 per cent. For every ₹100 of sales, about ₹1.41 was left as operating profit. The quarter before that one had run an operating loss of ₹3.04 crore.
Revenue in the three months to June 2026 was ₹59.54 crore. That was a rise of 78.8 per cent on the same quarter a year earlier. Operating profit was ₹11.86 crore, against ₹0.47 crore a year before. Profit after tax came to ₹9.00 crore, against ₹0.68 crore. Earnings per share, the profit attached to each share, were ₹3.12 against ₹0.24.
The company’s own press release calls this the highest quarterly profit in its history. It notes the figure is close to the whole of the previous year’s profit of ₹10.09 crore. Management describes the quarter as a “stellar performance”, attributing it to revenue growth, operational efficiency and cost control. Management also says the newly acquired American business, Beryl, added to revenue and almost nothing to profit.
The standalone India payroll stood at 1,174 employees in the year to March 2025. Market capitalisation, the worth of all the company’s shares taken together, is ₹534 crore. Total debt on the books stands at ₹5.13 crore.
2 — Introduction
Mold-Tek Technologies was incorporated in 1985 and sells civil and mechanical engineering design services. It belongs to the Mold-Tek group and holds ISO 9001:2015 and ISO 27001:2005 certifications. The company is registered as a partner with AISC and with NISD. It names its core domains as automotive, poles and towers, and oil and gas. More than 200 clients use it, spread across North America, Europe, Asia Pacific and the Middle East. In the year to March 2023, exports were about 91 per cent of revenue. Domestic work accounted for the remaining 9 per cent of that year’s revenue.
The group structure includes a wholly owned American subsidiary, Mold-Tek Technologies Inc. In October 2025 its sibling, Beryl Engineering Inc, agreed to buy all of Beryl Project Engineering LLC. The Florida business had revenue of USD 5.6 million in its 2024 financial year. The purchase consideration was USD 2.7 million, and consolidation into the group accounts began in November 2025. Beryl brings residential engineering, permit engineering, plan review and building inspection services. That is regulatory work, and it sits earlier in a construction project than steel detailing does. Steel detailing is the drawing work that turns a design into instructions for the fabricator.
In February 2026 the board approved a preferential issue of up to 2,90,000 shares to Richard Leon Cannyn. A preferential issue is a sale of new shares to one named party rather than to the market. The proposal was worth ₹4.756 crore and went to an extraordinary general meeting on 30 March. The board then withdrew it on 1 May 2026, about three months after approving it. Management explained the mechanics on the August call, saying the offer price sat above what the shares were fetching. Management says the party did not show interest, and the six-month window lapsed in April.
In November 2025 the company granted 600,000 employee stock options under the MTTL ESOS 2025 scheme. Such options let staff buy shares later on terms fixed at the time of the grant. In March 2026 it received an income tax demand notice of ₹30,40,440 for assessment year 2024-25. The company said at the time that it was responding to the notice.
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3 — Business Model: WTF Do They Even Do?
An American fabricator wins a contract to put up a steel building. Somebody must then work out how every beam meets every column, and how many bolts hold them. The drawings have to meet a standard that a United States inspector will sign off. Increasingly, the people doing that work sit in an office in Jubilee Hills, Hyderabad.
The Civil Engineering Services division handles steel detailing, precast detailing, construction documentation and design development. It also draws steel staircases and other miscellaneous steel work. That division was 81.38 per cent of standalone revenue in the year to March 2025. It has not fallen below 73.87 per cent in any year since the year to March 2016. Mechanical Engineering Services covers automotive design, special purpose machines, press tools and surfacing. The same division also takes in utilities and telecommunications work, and it was 18.62 per cent of standalone revenue.
Permanent India headcount went from 575 in the year to March 2016 to 1,174 in the year to March 2025. The raw material is engineers, and nothing about that can be kept in a warehouse. The balance sheet carries no inventory line at all.
Management says the mechanical division “has been bleeding”, with a loss of ₹7-8 crore last year. Management attributes that to holding staff and costly software while waiting for an electric-vehicle recovery.
