AGI Greenpac Limited, a leading Packaging Products Company, announced its financial results for the fourth quarter and fiscal year ending March 31, 2024. The company delivered a robust performance, with significant growth in revenue and EBITDA, highlighting its resilience and operational excellence amidst challenging market conditions.
In FY24, AGI Greenpac reported Revenue from Operations of ₹2421 crore, compared to ₹2281 crore in FY23, representing a growth of 6% on a year-on-year basis. The company achieved an EBITDA of ₹588 crore, marking a substantial increase from ₹488 crore in the previous year, registering a remarkable growth of 21%. The EBITDA margin stood at 24%. Additionally, the company’s Profit Before Tax (PBT) grew to ₹340 crore, compared to ₹304 crore in FY23, reflecting a growth of 12% year-on-year. The company attributed its increased interest and depreciation expenses in FY24 to investments made towards a high-end specialty state-of-the-art plant, which commenced commercial production in January 2023.
In the fourth quarter of FY24, AGI Greenpac reported Revenue from Operations of ₹625 crore, EBITDA of ₹156 crore, and PBT of ₹89 crore. The year-on-year comparison of EBITDA was influenced by factors such as the receipt of other income of ₹15.65 crore in Q4FY23 and adjustments made towards sales realization of certain product categories in response to a drop in raw material prices during FY24.
The company’s consistent performance was driven by several factors, including meeting the growing demand for both alcoholic and non-alcoholic beverages, enhancing internal efficiencies, and prioritizing high-value-added products. AGI Greenpac’s commitment to innovation, operational excellence, and customer satisfaction has further strengthened its position in the market.
Commenting on the results, Mr. Sandip Somany, Chairman and Managing Director of AGI Greenpac Limited, expressed satisfaction with the company’s performance and emphasized its focus on innovation, operational efficiencies, and customer satisfaction. He highlighted the successful addition of capacity through debottlenecking in FY24 to meet increased demand, underscoring the company’s commitment to growth and excellence.
AGI Greenpac Limited is a leading Packaging Products Company manufacturing and marketing various packaging products, including Glass Containers, Polyethylene Terephthalate (PET) Bottles & Products, and Security Caps & Closures. The company’s Packaging Products Division operates seven plants in India, catering to over 500 globally acclaimed institutional clients.
