Indian glass producer AGI Greenpac reported its highest profitability ever, with revenue from operations up by 60% for the fiscal year 2023.
AGI Greenpac reported its financial results for the fourth quarter and year ending March 31, 2023.
In Q4 FY23, the company delivered a strong performance and reported revenue from operations of ₹680 crore, compared to ₹432 crore in Q4FY22, registering a robust growth of 58% on a Y-o-Y basis.
The company delivered EBITDA of ₹196 crore, registering a growth of 111% on a Y-o-Y basis with a margin of 29%. Net Profit of continued operation stood at ₹96 crore, registering a growth of 152% on a Y-o-Y basis with margins of 14%.
In FY23, the company reported revenue from operations of ₹2,281 crore, compared to ₹1,430 crore in FY22, registering a strong growth of 60% on a Y-o-Y basis.
The company delivered EBITDA of ₹488 crore, registering a growth of 59% on a Y-o-Y basis with a margin of 21%. Net Profit stood at ₹249 crore, registering a growth of 114% on a Y-o-Y basis with margins of 11%.
The sales and profitability improved on a Y-o-Y and Q-o-Q basis an improved product mix, and an increase in demand for the non-alcoholic & alcoholic beverages, and packed food segment for the glass containers products.
Mr Sandip Somany, Chairman and Managing Director, AGI Greenpac Limited said: “Rise in demand for the glass packaging containers from both the non-alcoholic & alcoholic beverage segments and our integrated business model and premium products helped us in delivering sustainable growth for the year.”