AGI Greenpac Ltd approves ~ Rs. 700 crore capex

AGI Greenpac Limited (NSE: AGI; BSE: 500187), India's largest manufacturer of container glass, today announced setting up of a state-of-the-art greenfield, high-output and highefficiency manufacturing plant in Madhya Pradesh with capital expenditure outlay of ~₹700 Crore. This expansion will increase the company's container glass manufacturing production capacity by ~25% to meet the rising demand for high-quality glass packaging products.

The new plant, designed with a planned daily production capacity of 500 tonnes, will produce commercial glass for key sectors including alcoholic beverages, pharmaceuticals, and food. AGI Greenpac anticipates commencing commercial production within 24 months. The timeline demonstrates the company's commitment to efficient project execution and rapid market responsiveness.

Madhya Pradesh provides AGI Greenpac a strategic advantage through its central location, robust infrastructure, and readily available raw materials. These combined benefits will significantly enhance AGI Greenpac's container glass production capabilities and support its strategic expansion across India.

Commenting on the investment, Mr. Sandip Somany, Chairman and Managing Director of AGI Greenpac Limited, stated, "Madhya Pradesh's favorable business environment and strategic location aligns with our growth strategy. This state-of-the-art plant will enable us to meet the rising demand for tailored glass packaging solutions, providing our customers with enhanced quality products and will further expand our share in the Indian container glass market."

The facility will expand AGI Greenpac's geographical spread, integrating advanced manufacturing technologies and sustainable practices, demonstrating the company's commitment to environmental responsibility and long-term growth. This expansion strengthens the company's manufacturing footprint, complementing its existing glass plants in Telangana.

Beyond its production benefits, the new plant is projected to create over 1,000 direct and indirect employment opportunities, acting as a catalyst for regional economic development and fostering a vibrant manufacturing ecosystem.

Shares of HSIL Limited was last trading in BSE at Rs. 745.25 as compared to the previous close of Rs. 762.15. The total number of shares traded during the day was 14864 in over 1011 trades.

The stock hit an intraday high of Rs. 783.40 and intraday low of 741.35. The net turnover during the day was Rs. 11343181.00.

Source : Equity Bulls

Keywords

AGIGreenpac INE415A01038 Capex NewManufacturingPlant MadhyaPradesh