AGI Greenpac
In Q3FY24, the company reported revenue from operations of ₹622 crore against ₹567 crore in the corresponding period of the preceding fiscal, registering a growth of 10%.

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

In Q3FY24, the company reported revenue from operations of ₹622 crore against ₹567 crore in the corresponding period of the preceding fiscal, registering a growth of 10%. EBITDA grew 36% to ₹153 crore as against ₹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 ₹10.37 in the Q3 FY24 as compared to ₹8.23 in the December 2022 quarter.

In 9M FY24, revenue from operations was ₹1796 crore, registering a growth of 12% Y-o-Y. The EBITDA stood at ₹432 crore, marking a substantial 48% Y-o-Y growth, and profit after tax was ₹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 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 capitalize on emerging opportunities in the packaging products segment.”

AGI Greenpac (formerly HSIL Limited) manufactures and markets various packaging products, including glass containers and polyethylene terephthalate (PET) bottles & products and security caps & closures. The Packaging Products Division has seven plants in India, located across Telangana, Uttarakhand, and Karnataka. This division has a comprehensive product range, catering to 500+ globally acclaimed institutional clients in India.

Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive

The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.

As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.

The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are growing similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.

For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.

We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.

The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans to inspire and mobilize our editorial and advertising teams!

For editorial — for advertisement and for subscriptions

– Naresh Khanna (25 October 2023)

Subscribe Now
unnamed 1


Subscribe to our Newsletter


Please enter your comment!
Please enter your name here