AGI Greenpac yesterday announced its financial results for the fourth quarter and year ending 31st March, 2022. As part of its transformational journey, in March 2022, the company completed the divestment of the building products division to Hindware, and recently also changed its name from HSIL to AGI Greenpac, a company statement notified.
In FY2022, the revenue from operations was of Rs 2,319 crores, a growth of 25 per cent on Y-o-Y basis and Profit After Tax (PAT) grew from Rs 88 crores to Rs 193 crores, growth of 120 per cent on Y-o-Y basis, the statement said.
It also notified that in Q4 FY2022, revenue from operations witnessed a growth of 13 per cent on Y-o-Y basis from Rs 716 crores to Rs 635 crores and PAT grew from Rs 33 crores to Rs 128 crores, a growth of 286 per cent on Y-o-Y basis.
Further, for FY22, the packaging business revenue from operations increased from Rs 1,259 crores to Rs 1,436 crores, registering a growth of 14 per cent Y-o-Y. EBIT increased 21 per cent Y-o-Y to Rs 238 crores from Rs 196 crores in FY21. For Q4 FY22, the packaging business delivered another robust quarter with revenue from operations and EBIT coming at Rs 438 crores and Rs 76 crores, respectively. The sales growth was primarily driven by the increase in glass container packaging volumes by around 10 per cent, led by the growing demand for glass bottles from the beer and wine industries, the statement added.
It also mentioned that the company started trial production of its greenfield plant in Bhongir, Telangana manufacturing specialty glass for high-value industries such as perfumery, cosmetics, high-end liquor, and pharmaceuticals, including vials. The plant has a capacity of manufacturing 154 tonnes of glass.
In addition, for FY22, building products division delivered a revenue of Rs 881 crores with a growth of 49 per cent Y-o-Y, and in Q4FY22, the division delivered revenue from operations of Rs 279 crores registering a growth of 29 per cent Y-o-Y, the statement concluded.