Locked in upper circuit: This Smallcap packaging company records 100 per cent jump in net profits! Shares jump 20 per cent

Locked in upper circuit: This Smallcap packaging company records 100 per cent jump in net profits! Shares jump 20 per cent

Rohit Kale
/ Categories: Trending, Mindshare

The sales and profitability improved on a Y-o-Y and Q-o-Q basis, thanks to an increase in demand for the non-alcoholic and alcoholic beverages and packed food segment.  

In its latest quarterly earnings, AGI Greenpac has reported best earnings numbers for the quarter ended March 31, 2023. The company reported a massive jump of 103 per cent QoQ in net profit to Rs 108.79 crore for Q4FY23 as against Rs 53 crore in Q3FY23. Revenue growth stood at 57 per cent YoY to Rs 680.32 crore from Rs 431.83 crore in March 2022. Interestingly, EBITDA is recorded at Rs 195.51 crore in March 2023, a strong triple digit growth of 110 per cent from Rs 92.82 crore in March 2022.   

The sales and profitability improved on a Y-o-Y and Q-o-Q basis, thanks to an increase in demand for the non-alcoholic and alcoholic beverages and packed food segment.  

Meanwhile, the chairman and MD, Sandip Somany, commented,” Rise in demand for the glass packaging containers from both the non-alcoholic & alcoholic beverage segments and our integrated business model and premium products helped us in delivering sustainable growth for the year.”  

 

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The investors have certainly cheered on the better-than-expected earnings report as strong buying sentiment propelled the stock 20 per cent to hit the upper circuit. The shares of AGI currently trade at 494 level on NSE. With over 20 lakh shares being traded, the stock has recorded the highest volumes in recent times. It has also marked a fresh 52-week high level on the bourses.   

AGI Greenpac is a Smallcap company, primarily engaged in the packaging services to various consumer brands, including pharmaceuticals, food, non-alcoholic & alcoholic beverages, cosmetics, perfumery and is focused on creating value for all partners. 

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