FNB News - AGI Greenpac Q3 FY23 Revenue from Operations up by 43% to Rs 567 crore, EBITDA up 39% to Rs 113 crore Y-o-Y basis

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COMPANY REPORT

AGI Greenpac Q3 FY23 Revenue from Operations up by 43% to Rs 567 crore, EBITDA up 39% to Rs 113 crore Y-o-Y basis

Monday, 06 February, 2023, 08 : 00 AM [IST]

Our Bureau, New Delhi

AGI Greenpac Limited, one of the leading Packaging companies in India, announced its financial results for the third quarter ending December 31, 2022.

Financial Performance Highlights: 9M FY2023

Revenue from Operations stood at Rs 1,601 crore, registering a growth of 60% on a Y-o-Y basis
Operating EBITDA stood at Rs 292 crore, registering a growth of 37% on a Y-o-Y basis with margins of 18%
Net Profit stood at Rs 153 crore, registering a growth of 94% on a Y-o-Y basis with margins of 10%

Financial Performance Highlights: Q3 FY2023

Revenue from Operations stood at Rs 567 crore, registering a growth of 43% on a Y-o-Y basis
Operating EBITDA stood at Rs 113 crore, registering a growth of 39% on a Y-o-Y basis with margins of 20%
Net Profit stood at Rs 53 crore, registering a growth of 81% on a Y-o-Y basis with margins of 9%

Business Update
In Q3 FY23, the company delivered a strong performance and reported Revenue from Operations of Rs 567 crore, compared to Rs 396 crore in Q3FY22, registering a stellar growth of 43% on a Y-o-Y basis. The sales and profitability improved on a Y-o-Y 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 delivered EBITDA of Rs 113 crore, registering a growth of 39% on a Y-o-Y basis with a margin of 20%. The company continued to maintain strong EBITDA margins despite a sharp increase in input prices and rising inflation. Net Profit stood at Rs 53 crore, registering a growth of 81% on a Y-o-Y basis with margins of 9%.

Sandip Somany, chairman and managing director, AGI Greenpac Limited, 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. 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.”