AGI Greenpac spurts as Q3 PAT jumps 81% YoY

AGI Greenpac surged 8.71% to Rs 332.05 after the packaging company's net profit soared 80.7% to Rs 53.23 crore in Q3 FY23 as against Rs 29.45 crore posted in Q3 FY22.

Revenue from operations stood at Rs 567 crore, registering a growth of 43% on a YoY basis in the quarter ended 31 December 2022.

The sales and profitability improved on a YoY 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's profif before tax jumped 48.84% YoY to Rs 69.27 crore in Q3 FY23 from Rs 46.54 crore in Q3 FY22.

Operating EBITDA grew 39% YoY to Rs 113 crore while the EBITDA margin stood at 20% during the period under review. The company said that it continued to maintain strong EBITDA margins despite a sharp increase in input prices and rising inflation.

Sandip Somany, chairman and managing director of 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 further 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.

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.

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