AGI Greenpac achieves EBITDA growth of 21%

AGI Greenpac, a packaging products company announced its financial results for the fourth quarter and year ending 31 March 2024. It reported an EBITDA growth of 21% year on year (YoY) to Rs 588-crore in FY24, with revenue from operations reaching Rs 2421-crore, up by 6% YoY.

07 May 2024 | By Abhay Avadhani

In Q4 FY24, the company reported revenue from operations of Rs 625-cr and EBITDA of Rs 156-cr

The company's profit before tax (PBT) stood at Rs 340 crore, compared to Rs 304-crore in FY23, registering a growth of 12% on a year-on-year basis. The company made investments towards a speciality plant and began commercial production in January 2023. This resulted in increased interest and depreciation expenses in FY24.

In Q4 FY24, the company reported revenue from operations of Rs 625-crore, EBITDA of Rs 156-crore, and PBT at Rs 89-crore. The EBITDA YoY was influenced by two factors: the receipt of other income of Rs 15.65-crore in Q4FY23 and adjustments made towards sales realisation of certain product categories in response to a drop in raw material prices during FY24.

The company's performance was driven by a combination of factors. Firstly, meeting the growing demand for both alcoholic and non-alcoholic beverages played a pivotal role. Secondly, enhancements in internal efficiencies boosted operational effectiveness. Thirdly, a commitment to cultivating customer loyalty solidified the company's position in the market. Additionally, prioritising value-added products and an emphasis on a premium mix further fortified the company's profitability.

Commenting on the results, Sandip Somany, the chairman and managing director of AGI Greenpac said, “Our consistent year-on-year growth reflects our focus on innovation, operational efficiencies, the introduction of new products, and a premium product mix. The successful addition of capacity through debottlenecking in FY24 to meet increased demand underscores our commitment to operational excellence and customer satisfaction.”

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