AGI Greenpac, a focused Packaging Products company in India, announced its financial results for the fourth quarter and year ending 31 March 2023.
In Q4 FY23, the company delivered a strong performance and reported Revenue from Operations of Rs 680 crore, compared to Rs 432 crore in Q4FY22, registering a robust growth of 58% on a Y-o-Y basis. The company delivered EBITDA of Rs 196 crore, registering a growth of 111% on a Y-o-Y basis with a margin of 29%. Net Profit of continued operation stood at Rs 96 crore, registering a growth of 152% on a Y-o-Y basis with margins of 14%.
In FY23, the company delivered a robust performance and reported Revenue from Operations of Rs 2,281 crore, compared to Rs 1,430 crore in FY22, registering a strong growth of 60% on a Y-o-Y basis. The company delivered EBITDA of Rs 488 crore, registering a growth of 59% on a Y-o-Y basis with a margin of 21%. Net Profit stood at Rs 249 crore, registering a growth of 114% on a Y-o-Y basis with margins of 11%.
The sales and profitability improved on a Y-o-Y and Q-o-Q basis an improved product mix, and an increase in demand for the non-alcoholic and alcoholic beverages and packed food segment for the glass containers products.
Commenting on the results, Sandip Somany, chairman and managing director, AGI Greenpac, said, “Rise in demand for the glass packaging containers from both the non-alcoholic & alcoholic beverage segments and our integrated business model and premium products helped us in delivering sustainable growth for the year.”
He further added, “AGI Greenpac is a supply chain partner to various consumer brands, including pharmaceuticals, food, non-alcoholic & alcoholic beverages, cosmetics, perfumery and is focused on creating value for all partners.”