Interview with AGI Greenpac
We are well-positioned to implement our strategic plans for our packaging business and will continue to unlock value for all our stakeholders, says Sandeep Sikka, Group CFO, AGI Greenpac Ltd.
Can you give some insights on the recently started manufacturing speciality glass at your new greenfield facility in Bhongir, Telangana? Also, which high-value industries specialty glass are you currently focusing on?
AGI Greenpac has invested around Rs 220 crore in AGI Glaspac to manufacture specialty glass at a new greenfield facility in Bhongir, Telangana. With this new plant, AGI Glaspac has forayed into manufacturing high-quality specialty glass products that will cater to industries such as pharmaceuticals including vials, perfumery, cosmetics, and high-end liquor. The new plant is going to produce 154 tons of premium flint and we have already started the trial production.
The company decided to foray into the production of specialty glass, as it further strengthens its footprint in the glass packaging segment. This segment is set to gain momentum from the increasing marketing strategies and advertisements implemented by high-end perfumery, liquor, and cosmetics companies besides, the rising trend of online shopping which would propel the growth across the country.
Can you brief us regarding the positive impact of the divestment of the Building Products Division on the company's overall business?
With the divestment of the Building Products Division, AGI Greenpac today is a completely focused packaging company and now is concentrating on the expansion of its packaging business to capitalize on both organic and inorganic opportunities. We are well-positioned to implement our strategic plans for our packaging business and will continue to unlock value for all our stakeholders. The cash proceeds are being used to pre-pay existing bank borrowings and increase cash reserves.
What competitive edge does the company possess as compared to its peers in the packaging industry?
AGI Glaspac is India’s second-largest and most profitable glass packaging manufacturer. The company develops a comprehensive and highly appreciated range of innovative designs catering to marquee clients in alcoholic and non-alcoholic beverages, fast-moving consumer goods, retail, pharmaceuticals, and edible oil industries. In addition to it, our PET bottles and products brand AGI Plastek and counterfeit-resistant security caps and closure under Brand AGI Clozure ensure we offer complete packaging solutions to our clients.
We are an integrated packaging products company and offer end-to-end solutions to our customers.
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