AGI Greenpac revenue up by 43% in Q3FY23

In Q3 FY23, the company delivered a strong performance and reported revenue from operations of Rs 567-crore, compared to Rs 396 crore in Q3FY22, registering a stellar growth of 43% on a YoY basis. The sales and profitability improved on a YoY basis on account of an improved product mix, and an increase in demand from non-alcoholic beverages, packed food, and beer segment for the glass containers products. 

The company delivered EBITDA of Rs 113-crore, registering a growth of 39% on a YoY 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 Rs 53 crore, registering a growth of 81% on a YoY basis with margins of 9%.

Sandip Somany, chairman and managing director, AGI Greenpac, said, “AGI Greenpac 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.”

He added, “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.”