AGI Greenpac Incorporates a Subsidiary for Packaging Business Expansion

AGI Greenpac Limited informed the stock exchanges that on August 27, 2024, the company had incorporated a wholly owned subsidiary company, AGI Retail Private Limited.

The new subsidiary has been established with an authorised share capital of ₹50,00,000, divided into 5,00,000 equity shares, each valued at ₹10. The paid-up share capital for AGI Retail Private Limited stands at ₹10,00,000, divided into 1,00,000 equity shares, also valued at ₹10 each. AGI Greenpac Limited has fully subscribed to the initial paid-up capital, making AGI Retail Private Limited a 100% owned subsidiary.

The primary objective of AGI Retail Private Limited is to engage in the business of packaging materials. The company will focus on manufacturing, processing, and selling various types of packaging materials, leveraging different distribution channels such as dealers, distributors, collaborators, retail outlets, and online platforms.

The incorporation of AGI Retail Private Limited represents a significant step for AGI Greenpac Limited in diversifying its business operations and enhancing its market footprint. AGI Retail Private Limited is poised to tap into these opportunities by providing high-quality packaging materials tailored to meet the needs of different sectors.

In FY 2024, AGI Greenpac Limited reported a total income of ₹2,44,503.69 lakh, with 6% YoY growth. During the financial year 2024, the company’s profit dropped to ₹25,132.80 lakh, from ₹26,163.58 lakh in FY 2023.

About AGI Greenpac Limited

AGI Greenpac Ltd is involved in the manufacturing and selling of PET bottles, container glass bottles, security caps, and closures in the packaging products segment. The company has about 40 years of experience catering to diverse industries.

On August 29, 2024, the share price of AGI Greenpac Ltd opened at ₹925.15, touching the day’s high at ₹930.30, as of 9:19 AM on the NSE.

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