Q1FY24 Quarterly Result Announced for AGI Greenpac Ltd.
Furniture-Furnishing Paints Company AGI Greenpac announced Q1FY24 results: Revenue from Operations increased by 7% on a YoY basis, increasing from Rs 522 crore in Q1FY23 to Rs 558 crore in Q1FY24, despite a scheduled furnace shutdown for relining. EBITDA of Rs 140 crore, registering a significant growth of 52% on a YoY basis with a margin of 25%. Profit before Tax stood at Rs 85 crore, registering a remarkable growth of 55% on a YoY basis with margins of 15% On a YoY basis, the company’s sales and profitability improved owing to increased market demand, a more favorable product mix, and our focus on high-value-added products. Substantial investments in digitalisation and automation have further optimised the operations, significantly improving efficiency. Commenting on the results, Sandip Somany, Chairman and Managing Director, AGI Greenpac said, “Our well-crafted strategy and a series of proactive steps have helped us in achieving another remarkable result this quarter. We have successfully identified and capitalized on opportunities arising from the growing market demand, aligning our offerings with customer preferences. Additionally, we optimized our operations by strategically focusing more on high value-added products, which has proven instrumental in boosting our bottom line, and enhancing profitability.” Result PDF25-07-2023