AGI Greenpac: FY24 Sees 21% Y-o-Y EBITDA Growth to ₹588 Crore, Revenue Hits ₹2421 Crore, Up 6% Y-o-Y
Gurugram, India, May 03rd, 2024: AGI Greenpac Limited, a focused Packaging Products Company today announced its financial results for the fourth quarter and year ending March 31, 2024.
In FY24, the Company delivered a robust performance and reported Revenue from Operations of ₹2421 crore, compared to ₹2281 crore in FY23, registering a growth of 6% on a Y-o-Y basis. The Company delivered EBITDA of ₹588 crore over ₹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 ₹340 crore, compared to ₹304 crore in FY23, registering a growth of 12% on 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 ₹625 crore, EBITDA of ₹156 crore, and PBT at ₹89 crore. The EBITDA Y-o-Y was influenced by two factors: the receipt of other income of ₹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 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 an emphasize on a premium mix further fortified the Company’s profitability.
Commenting on the results, Mr. Sandip Somany, Chairman and Managing Director, AGI Greenpac Limited 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.”
Disclaimer: This press release serves for informational purposes only and does not constitute professional advice. Any reliance on the information provided is at the reader’s discretion.