AGI Greenpac Ltd announces Q4, FY22 results

AGI Greenpac Limited (Formerly known as HSIL Limited), India's leading Packaging Products company, today announced its financial results for the fourth quarter and year ending March 31, 2022. As part of its transformational journey, in March 2022, the company completed the divestment of the Building Products division to Hindware Limited and recently also changed its name from HSIL Limited to AGI Greenpac Limited.

Financial Performance Highlights: FY2022

- Revenue from Operations of 22319 crore, growth of 25% on Y-o-Y basis
- PAT grew from 288 crore to 193 crore, growth of 120% on Y-o-Y basis

Financial Performance Highlights: Q4 FY2022

- Revenue from Operations of 716 crore from 2635 crore growth of 13% on Y-o-Y basis
- PAT grew from %33 crore to 7128 crore, growth of 286% on Y-o-Y basis

Packaging Products Business Update (Continuing Operations)

For FY22, the Packaging Business Revenue from Operations increased from 1259 crore to 71436 crore, registering a growth of 14% Y-o-Y. EBIT increased 21% Y-0-Y to 2238 crore from %196 crore in FY21. For Q4 FY22, the Packaging Business delivered another robust quarter with Revenue from Operations and EBIT coming at 2438 crore and 276 crore respectively. The sales growth was primarily driven by the increase in glass container packaging volumes by around 10%, led by the growing demand for glass bottles from the beer and wine industries.

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.

Building Product Business (Discontinued Operations)

For FY22, Building Products Division delivered a Revenue of 2881 crore with a growth of 49% Y-o-Y and in Q4EY22 the division delivered Revenue from Operations of $279 crore registering a growth of 29% Y-oY.

Commenting on the results, Mr. Sandip Somany, Vice Chairman and Managing Director, AGI Greenpac Limited, said: "Our packaging products business continues to deliver revenue growth, driven by increased demand for glass packaging from key end-user industries and the company has been able to maintain a strong EBITDA margin profile despite the sharp jump in commodity & fuel prices and inflation. This is a testament to the underlying sustainable business model that we have built over the years."

He further added, "We enter the fiscal year with confidence of delivering sustainable growth and remain the most profitable glass packaging products company in India."

Shares of HSIL Limited was last trading in BSE at Rs. 291.60 as compared to the previous close of Rs. 299.75. The total number of shares traded during the day was 7295 in over 570 trades.

The stock hit an intraday high of Rs. 309.00 and intraday low of 287.25. The net turnover during the day was Rs. 2145821.00.

Source : Equity Bulls

Keywords

INE415A01038 AGIGreenpac Q4FY22 FY2022 ResultUpdate HSIL