AGI Greenpac LimitedQ2 FY27 Results & Financial Update
AGI Greenpac Limited: Q2 FY27 consolidated results and company financials – revenue ₹655.46 Cr, PAT ₹66.50 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore AGI Greenpac Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
AGI Greenpac Limited reported consolidated revenue from operations of INR 655.46 crore for the second quarter ended September 30, 2026, marking a decrease of 16.53% compared to INR 785.27 crore recorded in the preceding quarter ended June 30, 2026.
Total income for Q2 FY27 stood at INR 656.71 crore, reflecting a sequential moderation from INR 794.23 crore in Q1 FY27.
Profit before tax (PBT) for the quarter contracted to INR 86.49 crore from INR 129.27 crore in the previous quarter.
Profit after tax (PAT) registered at INR 66.50 crore for Q2 FY27, compared to INR 99.35 crore in Q1 FY27, representing a sequential decline of approximately 33.06%.
Earnings per share (EPS) for the quarter moved to INR 10.28 from INR 15.36 in the preceding quarter.
The packaging products segment generated revenue of INR 650 crore with an EBITDA excluding other income of INR 158 crore and a segment ROCE of 19.5% for the quarter.
s in the earnings presentation, revenue from operations grew 9.0% year-on-year for Q2 FY27 compared to Q2 FY26, while EBITDA excluding other income was reported at INR 142 crore with a margin of 21.7%.
01 · Business model
What does AGI Greenpac do?
AGI Greenpac Limited operates as an integrated rigid packaging solutions manufacturer, recognized as a leading container glass packaging provider in India.
The company's primary business encompasses container and specialty glass manufacturing, security caps and closures, and plastic packaging products such as PET bottles.
Manufacturing infrastructure includes multiple state-of-the-art facilities across locations including Sanathnagar and Bhongir in Telangana, Dharwad in Karnataka, Sangareddy, and Selaqui in Uttarakhand, providing a combined glass capacity of 2,100 tonnes per day alongside caps, closures, and plastic packaging operations.
The client base spans prominent domestic and international brands operating across alcoholic beverages, spirits, beer, wine, pharmaceuticals, cosmetics, personal care, food, and beverage sectors.
02 · Historical context
What shaped the business before this quarter
The company forayed into the container glass business in 1981 through the acquisition of Associated Glass Industries.
Operations expanded through the acquisition of Garden Polymer in 2012 for PET bottles and the launch of the security caps and closures business in 2018.
In 2023, the company ventured into specialty glass catering to perfumery and cosmetics segments.
In 2025, the company announced a foray into the aluminium can market targeting 1.6 billion cans capacity alongside a greenfield glass plant announcement of 500 TPD.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹655.46 Cr | ₹785.27 Cr |
| Total income | ₹656.71 Cr | ₹794.23 Cr |
| Profit before tax | ₹86.49 Cr | ₹129.27 Cr |
| Profit after tax | ₹66.50 Cr | ₹99.35 Cr |
| EPS | ₹10.28 | ₹15.36 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 10.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 13.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.25 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The packaging products segment delivered INR 650 crore of revenue during the quarter, underpinned by demand from alcoholic beverages, food, and pharmaceutical sectors.
Focus on premium segments including specialty glass for cosmetics, perfumery, and premium alcoholic beverages supported realization quality.
What drove margins
The company reported an EBITDA margin (excluding other income) of 21.7% for Q2 FY27, compared to 24.9% in Q2 FY26.
Depreciation for the quarter stood at INR 46.54 crore, while finance costs were reported at INR 10.38 crore.
05 · Demand, customers & order book
Where demand is coming from
Supplies packaging solutions to top global and Indian brands across liquor, personal care, food, beverages, and pharmaceuticals.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Generated INR 650 crore in revenue during Q2 FY27, with an EBIT of INR 114 crore and a segment ROCE of 19.5%.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Operates 7 manufacturing plants across container glass (2,100 TPD capacity across plants in Sanathnagar and Bhongir), caps and closures (1,154 mn pieces p.a.), and plastic packaging (~12,000 TPA across Dharward, Sangareddy, and Selaqui).
Glass capacity is scheduled to be enhanced from 2,100 TPD to 2,600 TPD by March 2027 through a 500 TPD greenfield plant project addressing North and Central India.
Projects, capex and execution
Ongoing execution of the 500 TPD greenfield glass plant project aimed at expanding total capacity to 2,600 TPD by March 2027.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Strategic expansion into the aluminium can market with a planned capacity of 1.6 billion cans to leverage synergies with existing glass packaging customers in alcohol and F&B segments.
09 · Reported developments
What changed operationally
Progress toward expanding total glass manufacturing capacity to 2,600 TPD by March 2027.
10 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions of INR 9.94 crore and other income of INR 1.25 crore during Q2 FY27.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Maintained an efficient capital structure with a low net debt-to-EBITDA ratio of 0.11x reported for FY26.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Board Appointments
Appointed Mr. Shashvat Somany as Joint Managing Director effective October 1, 2026.
13 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations moderated from INR 785.27 crore in Q1 FY27 to INR 655.46 crore in Q2 FY27.
14 · Key Q&A
The quarter, answered directly
What does AGI Greenpac do?
AGI Greenpac Limited operates as an integrated rigid packaging solutions manufacturer, recognized as a leading container glass packaging provider in India.
What is the clearest takeaway from Q2 FY27?
AGI Greenpac Limited reported consolidated revenue from operations of INR 655.46 crore for the second quarter ended September 30, 2026, marking a decrease of 16.53% compared to INR 785.27 crore recorded in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
The packaging products segment delivered INR 650 crore of revenue during the quarter, underpinned by demand from alcoholic beverages, food, and pharmaceutical sectors.
What mattered most for margins or profitability?
The company reported an EBITDA margin (excluding other income) of 21.7% for Q2 FY27, compared to 24.9% in Q2 FY26.
What changed operationally beyond the headline numbers?
Operates 7 manufacturing plants across container glass (2,100 TPD capacity across plants in Sanathnagar and Bhongir), caps and closures (1,154 mn pieces p.a.), and plastic packaging (~12,000 TPA across Dharward, Sangareddy, and Selaqui).
What should the next disclosure help confirm?
Progress on the 500 TPD greenfield glass plant commissioning targeted for completion by March 2027.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Capacity Commissioning: Progress on the 500 TPD greenfield glass plant commissioning targeted for completion by March 2027.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.