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Business News/ Markets / Stock Markets/  Ashish Dhawan stock hit 20% upper circuit after Q4 net profit rises 113%, Board declares 250% dividend
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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.

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.Premium
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 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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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 05 May 2023, 09:31 PM IST
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