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AGI Greenpac achieves strong EBITDA growth of 21% Y-o-Y to Rs 588 crore in FY24
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Wednesday, 08 May, 2024, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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AGI Greenpac Limited, a focused packaging products company 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 Rs 2421 crore, compared to Rs 2281 crore in FY23, registering a growth of 6% on a Y-o-Y basis. The company delivered EBITDA of Rs 588 crore over Rs 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 Rs 340 crore, compared to Rs 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 Rs 625 crore, EBITDA of Rs 156 crore, and PBT at Rs 89 crore. The EBITDA Y-o-Y was influenced by two factors: the receipt of other income of Rs 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, prioritising high-value-added products and an emphasize on a premium mix further fortified the company's profitability.
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.”
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