AGI Greenpac, a company based in India that is dedicated to producing packaging products, has published its financial outcomes for the fourth quarter and the fiscal year that concluded on March 31st, 2023.
During the fourth quarter of FY23, AGI Greenpac achieved impressive results, reporting a Revenue from Operations of INR 680 crore compared to INR 432 crore in Q4FY22, which reflects a strong year-on-year growth of 58%. The company’s EBITDA for the same period was v 196 crore, representing a remarkable year-on-year growth of 111%, and the margin stood at 29%. The Net Profit of continued operation amounted to INR 96 crore, indicating a significant year-on-year growth of 152%, with margins of 14%.
During FY23, AGI Greenpac delivered an impressive performance, reporting a Revenue from Operations of INR 2,281 crore, a significant increase of 60% on a year-on-year basis compared to INR 1,430 crore in FY22. The company’s EBITDA for the fiscal year was INR 488 crore, indicating a strong year-on-year growth of 59%, with a margin of 21%. AGI Greenpac’s Net Profit amounted to INR 249 crore, reflecting a substantial year-on-year growth of 114%, with margins of 11%.
The company’s sales and profitability exhibited improvement both year-on-year and quarter-on-quarter, driven by an enhanced product mix and heightened demand for glass containers in the non-alcoholic and alcoholic beverages as well as packed food segments.
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.”
