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Business EconomyPosted at: Jul 4 2024 11:33PM


Telangana: AGI Greenpac invests Rs 230 cr to modernise and enhance current facilities

Hyderabad, July 4 (UNI) AGI Greenpac , a glass packaging products manufacturer, is making a strategic investment of ₹230 crore in modernisation and enhancement of its current facilities, rather than capacity expansion.
The investment is allocated for debottlenecking, technical upgrades, and relining in FY 2025, the company said in a release here on Thursday.
For the fiscal year 2023-2024, the company registered a revenue of ₹2,421 crore and an EBITDA of ₹588 crore.
It has achieved a 10 per year-on-year growth and expects to maintain this growth trajectory for the current fiscal year.
The state-of-the-art specialty glass plant in Bhongir (Telangana), has been fully operational since January 2023 and its plant contributes to its global exports, accounting for 7 per cent of our total exports, the release said.
AGI Greenpac is currently exploring the acquisition of HNG , a leading company in the glass packaging market and it will consider expansion plans based on this development.
Fueled by the growing global demand for high-quality glass packaging, the company is actively exploring export opportunities in the Middle East and Europe, following the establishment of a strategic export channel in the USA, according to Mr. Rajesh Khosla, CEO, AGI Greenpac.
This move reflects AGI Greenpac's commitment to effectively serving global markets and fostering stronger relationships with customers worldwide, he said.
Mr. Rajesh said, "Our investment in our production capabilities will ensure we are well-positioned to meet the demand for our innovative, high-quality glass packaging solutions. This commitment to best-in-class practices not only strengthens our domestic offerings but also allows us to venture into new markets.”
With a daily production capacity of 154 tonnes, the Bhongir facility caters to a diverse range of industries, including cosmetics, perfumery, candle jars, and premium alcohol beverage segments. The plant utilizes cutting-edge Blow & Blow and Press & Blow technologies to produce high-quality clear glass products in various shapes and sizes to precisely shape molten glass into a wide range of high-quality, complex glass bottles and jars, he said..
AGI Greenpac also houses India's first glass packaging R&D Center, dedicated to developing sustainable solutions and pioneering new technologies such as our energy-efficient multi-color cold foil stamping process. The Decoration Unit, another first in India, offers a vast array of customization options and leverages a range of advanced processes, including ceramic, UV, and hot-foil stamping, to meet the evolving demands of global cosmetics, perfumery, and beverage brands, he added.
Packaging Products Division has seven plants in India, located across Telangana, Uttarakhand, and Karnataka. This Division has a comprehensive product range, catering to 500+ globally acclaimed institutional clients in India.
UNI KNR
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