Over the last one year, the stock has given returns of around 98 per cent, rising from Rs 298.6 apiece. The stock’s 5 year-run has also been stellar with an increase of over 5 times (up 436 per cent to Rs 592) from a level of Rs 110.45 touched on May 10, 2018.
During the quarter, its EBITDA saw a growth of 111 per cent YoY to Rs 196 crore with a margin of 29 per cent. The net profit (from continued operations) rose 152 per cent YoY to Rs 96 crore with net profit margins of 14 per cent.
The company attributed the improvement in the sales and profitability to an improved product mix and an increase in demand for its glass containers products from the non-alcoholic & alcoholic beverages and packed food segment, which drove the volumes.
In a recent interaction with media, the company’s management said it expects FY24 revenue to grow over 15-18 per cent.
In March this year, the company had received Competition Commission of India’s approval to acquire one of the country’s largest glass container maker Hindusthan National Glass & Industries (HNG).
Its top clients and brands, to which it supplies its packaging products/containers, include United Spirits, Radico Khaitan, Sula Vineyard, Kingfisher, Bacardi, HUL, Dabur, Sun Pharma, Dr Reddy’s, GSK Pharma among several others.
The company operates under three brands- it manufactures glass containers and speciality glass under the brand AGI Glaspac; PET (polyethylene terephthalate) bottles and products business under the brand AGI Plastek and security caps and closures under the brand AGI Clozures.
“Growing consumption of spirits and beer is leading to increased demand for glass bottles, higher usage of glass packaging in the food and beverage industry. The cosmetic and perfume glass packaging market is growing owing to premiumisation of the segments,” it said.