Ashish Dhawan stock hit 20% upper circuit after Q4 net profit rises 113%, Board declares 250% dividend
During today's closing session, the small-cap company Agi Greenpac's market cap was ₹3,208.34 Cr.
During today's closing session, the small-cap company Agi Greenpac's market cap was ₹3,208.34 Cr. The leading manufacturer of packaging products in India is AGI Greenpac. It produces a range of packaging goods, such as glass containers, speciality glass, polyethylene terephthalate (PET) bottles and products, security caps and closures, among others. As a result of AGI Greenpac's strong quarterly performance, its shares today reached its 20% upper circuit limit.
The company put out a great performance in the fourth quarter of FY23, reporting revenue from operations of Rs. 680 crore as opposed to Rs. 432 crore in the fourth quarter of FY22, representing a significant gain of 58% year on year. The firm reported that its net income rose by 54.3% YoY to ₹699 Cr during Q4FY23 from ₹453 Cr during Q4FY22.
The company delivered EBITDA of ₹196 crore, registering a growth of 111% on a Y-o-Y basis from ₹93 Cr recorded during the year-ago quarter with a margin of 29%. According to Agi Greenpac, its net profit rose by 151.8% YoY to ₹96 Cr during Q4FY23 from ₹38 Cr during Q4FY22 on the basis of margins of 14%.
As a result of the company's outstanding performance in FY23, it recorded revenue from operations of ₹2,281 crore as opposed to ₹1,430 crore in FY22, representing a high rise of 60% YoY. The company's net income stood at ₹2,307 Cr up by 56.7% YoY from ₹1,473 Cr in FY22 and its EBITDA stood at ₹488 Cr in FY23 up by 59.0% YoY from ₹307 Cr in FY22 with a margin of 21%. Agi Greenpac said its net profit stood at ₹249 Cr during FY23 up by 113.5% YoY from ₹117 Cr in FY22.
“Board of Directors has recommended final dividend of ₹5 per share, payout of 250% on face value," said Agi Greenpac in its earning statement.
“The sales and profitability improved on a Y-o-Y and Q-o-Q basis an improved product mix, and an increase in demand for the non-alcoholic & alcoholic beverages and packed food segment for the glass containers products," said Agi Greenpac in a stock exchange filing.
Commenting on the results, Mr. Sandip Somany, Chairman and Managing Director, AGI Greenpac Limited said, “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."
He further added, “AGI Greenpac is a supply chain partner to various consumer brands, including pharmaceuticals, food, non-alcoholic & alcoholic beverages, cosmetics, perfumery and is focused on creating value for all partners."
The shares of AGI Greenpac closed today on the NSE at upper circuit limit of ₹496.10 apiece up by 20% from the previous close of ₹413.45. During Q4FY23, ace investor Ashish Dhawan held 31,00,000 shares or a 4.79% stake in AGI Greenpac. According to the company’s shareholding pattern Sunil Singhania’s Abakkus Emerging Opportunities Fund-1 held 12,06,364 shares or a 1.86% stake in AGI Greenpac.
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