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.
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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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