AGI Greenpac, a focused packaging products company has announced its financial results for the fourth quarter and year ending 31 March 2024. In FY24, the company delivered a robust performance and reported revenue from operations of INR 2421 crore, compared to INR 2281 crore in FY23, registering a growth of 6% on a Y-o-Y basis.
The company delivered EBITDA of INR 588 crore over INR 488 crore last year, registering a growth of 21% on a Y-o-Y basis with a margin of 24%. The company’s PBT stood at INR 340 crore, compared to INR 304 crore in FY23, registering a growth of 12% on a Y-o-Y basis. The company made investments towards a high-end specialty state-of-the-art 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 INR 625 crore, EBITDA of INR 156 crore, and PBT at INR 89 crore. The EBITDA Y-o-Y was influenced by two factors: the receipt of other income of INR 15.65 crore in Q4FY23 and adjustments made toward sales realization of certain product categories in response to a drop in raw material prices during FY24.
The company’s consistent 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, significant enhancements in internal efficiencies boosted operational effectiveness. Thirdly, a steadfast commitment to cultivating customer loyalty further solidified the company’s position in the market. Additionally, prioritizing high-value-added products and emphasizing a premium mix further fortified the company’s profitability.
Sandip Somany, chairman and managing director, AGI Greenpac, said, “Our consistent year-on-year growth reflects our unwavering focus on innovation, operational efficiencies, the introduction of new products, and a premium product mix. I am happy with our ability to not only meet but exceed expectations in challenging market conditions. The successful addition of capacity through debottlenecking in FY24 to meet increased demand underscores our commitment to operational excellence and customer satisfaction. Looking ahead, I am confident in our continued success and growth.”
