AGI Glasspac announces Q3 reports

AGI Greenpac, a packaging products company, announced its financial results for the quarter ending 31 December, 2023.

In Q3FY24, the company reported revenue from operations of Rs 622-crore against Rs 567-crore in the corresponding period of the preceding fiscal, registering a growth of 10%. EBITDA grew 36% to Rs 153-crore as against Rs 113-crore in the December 2022 quarter.

The EBITDA margin was 25% as compared to 20% in the December 2022 quarter. Earnings per share witnessed a positive upswing, rising to Rs 10.37 in the Q3 FY24 as compared to Rs 8.23 in the December 2022 quarter.

In 9M FY24, revenue from operations was Rs 1,796-crore, registering a growth of 12% Y-o-Y. The EBITDA stood at Rs 432-crore, marking a 48% Y-o-Y growth, and Profit After Tax was Rs 187-crore, demonstrating a 22% Y-o-Y growth.

Commenting on the results, Sandip Somany, chairman and managing director, AGI Greenpac said, “Our performance in Q3 FY24 underscores sustained growth and profitability, a testament to our focus on key drivers such as operational efficiencies and a superior product mix.”

He further added, “With a robust product pipeline and a steadfast focus on glass packaging products, we are poised to maintain this growth momentum. Moving forward, our unwavering commitment to excellence and innovation positions us to capitalise on emerging opportunities in the packaging products segment.”