AGI Greenpac held its Q3 FY26 earnings conference call on January 29, 2026. The company reported revenue of ₹1,923 crore for the nine months ended December 31, 2025, up from ₹1,824 crore. EBITDA stood at ₹484 crore, slightly lower than ₹497 crore. Profit after tax increased to ₹236 crore. The company also prepaid its remaining ECB loan. Expansion plans remain on track, and the company anticipates continued growth.
Financial Performance
For the nine months ended December 31, 2025, AGI Greenpac reported revenue of ₹1,923 crore, an increase from ₹1,824 crore in the previous year. EBITDA was ₹484 crore, slightly below the ₹497 crore reported earlier. However, profit after tax rose to ₹236 crore, supported by cost management. In Q3 FY26, revenue from operations reached ₹634 crore, with an EBITDA of ₹154 crore and a profit after tax of ₹71 crore.
Business Highlights
Sales volumes for container glass increased by approximately 10% compared to Q2 FY26 but were slightly lower, around 2% less, compared to Q3 FY25, with capacity utilization remaining strong at approximately 95%. Sales realization decreased by approximately ₹450 per ton versus Q2 FY26 and ₹1,200 per ton versus Q3 FY25.
Specialty Glass Performance
Specialty Glass sales volume was relatively flat compared to Q2 FY26 but increased by over 13% compared to Q3 FY25. Capacity utilization was around 85%, and realization improved by approximately ₹900 per ton versus Q2 FY26 and ₹6,800 per ton compared to Q3 FY25.
Strategic Initiatives and Expansion
The company completed the container glass de-bottlenecking project, increasing capacity to 1,900 tons per day. The specialty glass capacity expansion to 200 tons per day is on track for completion by March 2026. The Greenfield container glass facility in Madhya Pradesh is progressing, with commissioning scheduled for March 2027 and will add 500 tons per day. Strategic entry into the aluminum beverage can segment remains on schedule, with equipment procurement in the final stages for an annual capacity of 1.6 billion cans.
Guidance
Management expects to maintain EBITDA margins in the range of 24% to 25%, excluding non-operating income. Volume growth is expected to be around 8% to 9%. The net debt stood at approximately Rs.389 crore as of December 31st, 2025.
Source: BSE
