NSE: AGI · BSE: 500187
AGI GREENPAC LIMITED
Manufactures packaging products, predominantly glass containers, along with PET and security closures, and is preparing to enter aluminium beverage cans. For FY26, packaging products generated Rs 2,643.72 crore, or 99.2% of segment revenue, while an investment property segment contributed Rs 21.6 crore. Materials account for 29.3% of revenue and other operating expenses for 39.2%, with power and fuel costs rising 25% year-on-year in Q1 FY27, compressing EBITDA margins from 25.5% to about 23.4%. Capex stood at 14.9% of revenue in FY26, reflecting significant ongoing capacity build-out including a Madhya Pradesh Greenfield glass plant and an aluminium cans foray. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Packaging Products (99%), Investment Property (1%). Asset-heavy, capital-intensive packaging manufacturer
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 2,529 | 2,665 |
| EBITDA (ex other income) | 614 | 590 |
| margin % | 24.3 | 22.1 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 49.83 | 54.35 |
| ROE % · ROCE % | 15.4 · 18.6 | 14.6 · 18.2 |
| Debt / equity (x) | 0.26 | 0.10 |
| Cash from operations | 429 | 571 |
| Capex | 0 | (397) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 599 | 658 | 705 | 688 | 602 | 634 | 742 | 785 |
| Profit before tax | 96 | 121 | 126 | 118 | 101 | 94 | 153 | 129 |
| Net profit | 72 | 91 | 97 | 89 | 76 | 71 | 115 | 99 |
| EPS (₹) | 11.14 | 13.99 | 14.93 | 13.73 | 11.75 | 11.04 | 17.83 | 15.36 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Packaging Products | 2,048 | 76.8 |
| Investment Property | 22 | 0.8 |
| Packaging products | 596 | 22.4 |
| Total, before eliminations | 2,665 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EPL LIMITED | 6,871 | 14.1 | 2.40 | 7.5 | 13.7 | 13.6 | 9.0 | 19.1 |
| AGI GREENPAC LIMITED ◆ | 4,627 | 12.8 | 1.92 | 7.0 | 14.6 | 16.5 | — | 23.4 |
| UFLEX LIMITED | 4,203 | 6.2 | 0.52 | 6.7 | 3.9 | 2.7 | 11.6 | 17.1 |
| TCPL PACKAGING LIMITED | 3,722 | 32.2 | 5.18 | 14.1 | 13.6 | 13.0 | 15.4 | 17.8 |
| JINDAL POLY FILMS LIMITED | 2,951 | 144.3 | 0.72 | 10.1 | 0.6 | 0.8 | 8.5 | 23.0 |
| POLYPLEX CORPORATION LTD | 2,899 | 18.7 | 0.41 | 8.0 | 0.6 | 0.3 | 7.6 | 14.3 |
| XPRO INDIA LIMITED | 2,360 | 71.5 | 2.96 | 51.2 | 2.4 | 2.8 | 6.2 | 11.4 |
| COSMO FIRST LIMITED | 1,923 | 11.4 | 1.19 | 7.2 | 9.6 | 6.4 | 9.8 | 12.6 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.8 | 16.2 | 22 of 64 | 67% |
| P/B | 1.9 | 1.3 | 39 of 61 | 37% |
| ROCE | 16.5 | 6.9 | 11 of 68 | 85% |
| ROE | 14.6 | 6.8 | 10 of 61 | 85% |
| Debt / Equity | 0.1 | 0.4 | 16 of 61 | 75% |
| EBITDA margin | 23.4 | 12.1 | 9 of 62 | 87% |
| Revenue growth | 14.2 | 14.0 | 29 of 61 | 53% |
| Profit growth | 11.8 | 23.4 | 34 of 60 | 44% |
| Market cap | 4627 | 118 | 2 of 73 | 99% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Q2 FY27 revenue up 9%, but EBITDA and PAT decline | investor communications | medium | — | — |
| 28 Oct 2026 · Q2 revenue and profit fall; H1 sales up 12% but profit flat | results | high | — | — |
| 28 Oct 2026 · AGI Greenpac Q2 profit falls 33% as revenue declines 16.5% | results | high | — | — |
| 21 Oct 2026 · Board meeting on 28 Oct 2026 to consider Q2 and H1 FY26 results | results | low | — | — |
| 12 Oct 2026 · AGI Greenpac appoints Shaili Tyagi as Chief HR Officer | management changes | medium | — | — |
| 7 Oct 2026 · SDD compliance certificate for quarter ended Sep 30, 2026 | compliance | minimal | — | — |
| 7 Oct 2026 · Quarterly dematerialization compliance certificate for Q2 FY2027 | compliance | minimal | — | — |
| 27 Sept 2026 · AGI Greenpac to hold one-on-one meeting with 360 One on Sep 28 | board shareholder meetings | low | — | — |
| 25 Sept 2026 · AGI Greenpac to hold one-on-one meeting with Mirae Mutual Fund | board shareholder meetings | low | — | — |
| 25 Sept 2026 · AGI Greenpac to meet Axis Mutual Fund and WhiteOak Capital on Sep 28 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.