AGI Greenpac ends higher after Telangana-based speciality glass facility starts production

AGI Greenpac advanced 2.10% to Rs 333.25 after the company announced the commencement of commercial operations at its speciality glass facility set up in the state of Telangana.

In November 2020, the company had reportedly announced the setting up a greenfield facility to make specialty glass at Bhongir, Telangana with an investment of Rs 220 crore. The specialty glass facility would have a manufacturing capacity of 154 tonnes per day and five manufacturing lines spread across 15 acres, the reports added.

As per reports, the company would focus on exports to the US, Australia, and a few markets in Europe. The plant would reportedly cater to high-end pharmaceuticals including vials, perfumery, cosmetics and other segments.

In an exchange filing made after trading hours yesterday, AGI Greenpac announced that it has commenced the commercial production of its speciality glass facility set up at Bhongir in the state of Telangana with an installed capacity of 154 Tons Per Day w.e.f. 1st January, 2023.

AGI Greenpac (formerly known as HSIL) is a packaging products company that manufactures and markets various packaging products, including glass containers and Polyethylene Terephthalate (PET) bottles, products & security caps, and closures.

The company had reported 9% rise in net profit to Rs 34 crore on a 66% increase in revenue from operations to Rs 513 crore in Q2 FY23 over Q2 FY22.

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