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AGI Greenpac posts EBITDA of Rs 140 crore up by 52% Y-o-Y and PBT of Rs 85 crore up by 55%
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Monday, 07 August, 2023, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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AGI Greenpac Limited, a focused Packaging Products company, announced its financial results for the quarter ending June 30, 2023.
The company's revenue from operations increased by 7% on a Y-o-Y basis, increasing from Rs 522 crore in Q1FY23 to Rs 558 crore in Q1FY24, despite a scheduled furnace shutdown for relining. The company delivered EBITDA of Rs 140 crore, registering a significant growth of 52% on a Y-o-Y basis with a margin of 25%. Profit before Tax stood at Rs 85 crore, registering a remarkable growth of 55% on a Y-o-Y basis with margins of 15%.
On a year-over-year basis, the company’s sales and profitability improved owing to increased market demand, a more favourable product mix, and focus on high value-added products. Additionally, substantial investments in digitalisation and automation have further optimised the operations, significantly improving efficiency.
Sandip Somany, chairman and managing director, AGI Greenpac Limited, said, “Our well-crafted strategy and a series of proactive steps have helped us in achieving another remarkable results this quarter. We have successfully identified and capitalised on opportunities arising from the growing market demand, aligning our offerings with customer preferences. Additionally, we optimised our operations by strategically focusing more on high value-added products, which has proven instrumental in boosting our bottom line, and enhancing profitability.”
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