AGI Greenpac, one of the leading packaging companies in India has announced its financial results for the third quarter ending December 31, 2022.

Financial Performance Highlights: 9M FY2023

• Revenue from Operations stood at ₹1,601 crore, registering a growth of 60% on a year-over-year basis

• Operating EBITDA stood at ₹292 crores, registering a growth of 37% on a year-over-year basis with margins of 18%

• Net Profit stood at ₹153 crores, registering a growth of 94% on a year-over-year basis with margins of 10%

Financial Performance Highlights: Q3 FY2023

• Revenue from Operations stood at ₹567 crores, registering a growth of 43% on a year-over-year basis.

• Operating EBITDA stood at ₹113 crores, registering a growth of 39% on a year-over-year basis with margins of 20%

• Net Profit stood at ₹53 crores, registering a growth of 81% on a year-over-year basis with margins of 9%

Business Update

In Q3 FY23, the company delivered a strong performance and reported Revenue from Operations of ₹567 crores, compared to ₹396 crores in Q3FY22, registering a stellar growth of 43% on a year-over-year basis. The sales and profitability improved on a year-over-year basis on account of an improved product mix and an increase in demand from the non-alcoholic beverages, packed food, and beer segment for the glass containers products. The company delivered EBITDA of ₹113 crores, registering a growth of 39% on a year-over-year basis with a margin of 20%. The company continued to maintain strong EBITDA margins despite a sharp increase in input prices and rising inflation. Net Profit stood at ₹53 crores, registering a growth of 81% on a year-over-year basis with margins of 9%.

Commenting on the quarterly results, Sandip Somany, chairman and managing director, AGI Greenpac, said, “AGI Greenpac growth was broad-based on our agile business model, improved product mix. A rise in demand for packed food, non-alcoholic beverage, and beer segment continued to propel growth for our packaging products in this quarter as well.”

He further added,” “We are confident of the market, and continuing domestic consumption augurs well for our high-end and value-added products produced from our 154 tonnes manufacturing facility in Telangana.”