Indian glass manufacturer AGI Greenpac reported an increased revenue of 6% in its latest financial results.

The company has posted its financial results for the fourth quarter and year ending March 31, 2024.

In FY24, revenue from operations increased by 6% on a Y-o-Y basis, increasing from ₹2281 crore in FY23 to ₹2421 crore.

AGI 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%.

Profit before tax stood at ₹340 crore, registering a growth of 12% on Y-o-Y basis.

AGI also made investments towards a high-end, specialty, modernised 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 Q4 FY23 and adjustments made towards sales realisation of certain product categories in response to a drop in raw material prices during FY24.

AGI’s 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, enhancements in internal efficiencies boosted operational effectiveness.

Thirdly, a commitment to cultivating customer loyalty further solidified the company's position in the market.

Additionally, prioritising high-value-added products and an emphasis on a premium mix further fortified the company's profitability.

Mr Sandip Somany, Chairman and Managing Director of 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.”