AGI Greenpac Board Approves ₹1,500 Crore Fundraising

AGI Greenpac Limited has announced plans to raise ₹1,500 crore through the issuance of equity shares and equity-linked securities. The board approved this fundraising initiative during its meeting on December 20, 2024. The process will occur in one or more phases, using modes such as public issues, rights issues, preferential issues, private placements, and qualified institutional placements (QIP).

The face value of the equity shares is ₹2 each. This decision is subject to shareholder and regulatory approvals, with the Corporate Affairs Committee managing its execution.

Q2 FY25 Performance Overview

For the quarter that ended September 2024, AGI Greenpac reported a standalone net profit of ₹72.07 crore, showing a 28% year-on-year growth from ₹56.14 crores in the same period last year. Despite this, revenue for the quarter dropped by 2.6% year-on-year to ₹599.18 crore. Meanwhile, EBITDA rose 15% to ₹154.25 crore, improving the EBITDA margin to 25.7% from 21.8% a year earlier.

Operational Highlights

The company achieved a glass container capacity utilisation rate of 93% during the quarter. Production and sales were impacted by scheduled furnace relining and debottlenecking, but operations resumed in late August 2024. AGI Greenpac also commissioned a 2.8 MW solar rooftop project at its Hyderabad plant, upgrading total solar capacity to 19.56 MW.

Debt Reduction and Market Movement

As of September 2024, AGI Greenpac reduced its net debt to ₹336.4 crore, compared to ₹557.9 crore a year earlier.

As of 11:10 AM today, AGI Greenpac’s shares were trading at ₹1,205.55, showing a decline of ₹34.40 or 2.77% from the previous close. Overall, the stock has risen 42.72% over the past 12 months and 45.66% year to date.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.