Packaging company AGI Greenpac on 27 January announced its financial results for the third quarter ending 31 December 2022.
In Q3 FY23, the company delivered a strong performance and reported a revenue of ₹567 crore from operations, compared to ₹396 crore in Q3FY22, registering a growth of 43% on a Y-o-Y basis. The sales and profitability improved on a Y-o-Y basis on account of an improved product mix, and an increase in demand from the non-alcoholic beverages, packed food, and beer segment for the glass containers products.
The company delivered EBITDA of ₹113 crore, registering a growth of 39% on a Y-o-Y basis with a margin of 20%. The company continued to maintain strong EBITDA margins despite a sharp increase in input prices and rising inflation. Net profit stood at ₹53 crore, registering a growth of 81% on a Y-o-Y basis with a margin of 9%.
Commenting on the quarterly results, Sandip Somany, chairman and managing director, AGI Greenpac said, “AGI Greenpac’s growth was broad-based on our agile business model, improved product mix. A rise in demand for packed food, non-alcoholic beverage, and beer segment continued to propel growth for our packaging products in this quarter as well.”
“We are confident of the market and continuing domestic consumption augurs well for our high-end and value-added products produced from our 154 tonnes manufacturing facility in Telangana,” he said.
Financial Performance Highlights: 9M FY2023
- Revenue from operations stood at ₹1,601 crore, registering a growth of 60% on a Y-o-Y basis
- Operating EBITDA stood at ₹292 crore, registering a growth of 37% on a Y-o-Y basis with margins of 18%
- Net profit stood at ₹153 crore, registering a growth of 94% on a Y-o-Y basis with margins of 10%
Financial Performance Highlights: Q3 FY2023
- Revenue from operations stood at ₹567 crore, registering a growth of 43% on a Y-o-Y basis
- Operating EBITDA stood at ₹113 crore, registering a growth of 39% on a Y-o-Y basis with margins of 20%
- Net profit stood at ₹53 crore, registering a growth of 81% on a Y-o-Y basis with margins of 9%
AGI Greenpac, formerly known as HSIL, manufactures and markets various packaging products, including glass containers and polyethylene terephthalate (PET) bottles, products & security caps, and closures. The Packaging Products Division has six plants in India, located across Telangana, Uttarakhand, and Karnataka.