AGI Greenpac, a focused Packaging Products company, announced its financial results for the quarter ending 30 September 2023.
In Q2FY24, the Company's Revenue from Operations stood at ₹615 crore, marking a 20% Y-o-Y growth from Rs 512 crore in Q2FY23. The Company recorded EBITDA of Rs 139 crore, reflecting a significant 59% Y-o-Y with a margin of 22%. Profit before Tax stood at Rs 74 crore, registering a growth of 59% on a Y-o-Y.
In H1FY24, the Company's Revenue from Operations was Rs 1174 crore, marking a 14% -o-Y increase from Rs 1034 crore in H1FY23. The Company delivered EBITDA of Rs 279 crore, registering a significant growth of 55% on a Y-o-Y basis with a margin of 24%. Profit before Tax stood at Rs 160 crore, registering a remarkable growth of 57% on a Y-o-Y.
The continuous improvement in business is a result of an integrated approach, underpinned by a keen understanding of market dynamics, an improved and flexible product mix, a commitment to sustainability, and customer satisfaction.
Commenting on the results, Sandip Somany, chairman and managing director, AGI Greenpac, said, “At AGI Greenpac, our priorities revolve around a twofold commitment: relentless pursuit of internal efficiencies and unwavering dedication to customer satisfaction. These fundamental principles enhance our operations, bring in cost-effectiveness, and ensure customer loyalty, helping us solidify our position in the packaging products industry.”