Ashish Dhawan Stock Crashes 9% After Announcing Q2 Results; Here’s What Went Wrong
This Ashish Dhawan Stock, engaged in the manufacturing of glass containers, caps and closures, and plastic packaging products, serving the alcoholic beverages, food and beverages, pharmaceuticals, cosmetics, and personal care industries, fell 9.93 percent after the company reported weak September quarterly results, with a 33.06 percent QoQ decrease in net profit.
With a market capitalization of Rs. 4,248.68 crores, the share of AGI Greenpac Limited has reached an intraday low of Rs. 646.10 per equity share, down nearly 9.93 percent from its previous day’s closing price of Rs. 717.30. Since then, the stock has recovered and is currently trading at Rs. 656.70 per equity share.
Also Read: Sensex & Nifty 50 | Stock Market Live Updates Today: Midday Market Sensex Gains 0.82%; Nifty Rises 0.70% as FMCG and IT Stocks Advance
Q2 FY27 Result Walkthrough
AGI Greenpac Limited’s consolidated revenue from operations declined by 17.93 percent quarter-on-quarter to Rs. 655.46 crore in Q2 FY27 from Rs. 785.27 crore in Q1 FY27. Despite 8.96 percent year-on-year growth, the sharp sequential decline indicates a slowdown in revenue generation.
In Q2 FY27, AGI Greenpac Limited's consolidated net profit decreased by 12.48 percent YOY, reaching Rs. 66.50 crore compared to Rs. 75.98 crore during the same period last year. As compared to Q1 FY27, the net profit has decreased by 33.06 percent, from Rs. 99.35 crore.
The basic earnings per share decreased by 12.51 percent and stood at Rs. 10.28 as against Rs. 11.75 recorded in the same quarter in the previous year, FY2026.
Half-yearly Performance
AGI Greenpac Limited reported strong financial performance in H1 FY27, with consolidated revenue from operations rising 11.75 percent year-on-year to Rs. 1,440.73 crore, compared with Rs. 1,289.24 crore in H1 FY26.
The company also recorded an increase in net profit, which rose 0.62 percent year-on-year to Rs. 165.85 crore from Rs. 164.83 crore, reflecting modest growth in earnings and business performance.
Operating Performance
Despite revenue growth, AGI Greenpac Limited faced pressure on its operating performance, with EBITDA declining 6 percent to Rs. 142 crore from Rs. 151 crore.
The EBITDA margin also contracted to 21.7 percent from 25.1 percent, indicating rising cost pressures and weaker operating efficiency. The decline in both EBITDA and margins highlights challenges in translating higher revenue into improved operating profitability.
Manufacturing Facilities and Capacity
AGI Greenpac Limited has a diversified manufacturing network with seven manufacturing plants, serving various industries through its glass packaging, caps and closures, and plastic packaging businesses. Its facilities are located across Telangana, Karnataka, and Uttarakhand, supporting its production and supply capabilities.
The company’s glass packaging business has a capacity of 2,100 tonnes per day, with facilities in Sanathnagar and Bhongir, Telangana. It serves beverages, liquor, wine, beer, pharmaceuticals, cosmetics, personal care, and hospitality industries. Its products include bottles and containers for soft drinks, medicines, food jars, perfumes, and other applications.
Also Read: Jupiter Wagons Bags ₹1,140 Crore Railway Order for 2,583 Wagons
In caps and closures, AGI Greenpac has an annual capacity of 1,154 million pieces, serving the liquor, spirits, pharmaceuticals, and cosmetics industries. Its plastic packaging business has an annual capacity of around 12,000 tonnes across three plants in Dharwad, Sangareddy, and Selaqui. It manufactures PET bottles, high-density polyethylene bottles, and polypropylene products for diverse packaging needs.
AGI Greenpac Plans Capacity Expansion to Drive Growth
AGI Greenpac is expanding its glass manufacturing capacity from 2,100 tonnes per day (TPD) to 2,600 TPD by March 2027 to meet India’s growing demand. The company aims to strengthen its position as a leading Indian container glass packaging provider and serves major Indian and global brands across liquor, personal care, food, beverages and pharmaceuticals.
AGI Greenpac is strengthening its sustainability initiatives by targeting a 50 percent year-on-year increase in renewable energy consumption, a 10 percent reduction in carbon emissions and a 7.6 percent reduction in water consumption in FY26. The company is also improving operational efficiency and expanding into value-added international markets to support long-term business growth.
Revenue Mix (Q2 FY27):
AGI Greenpac Ltd’s revenue mix for FY26 shows that glass containers were the main contributor, accounting for 91 percent of total packaging product revenue. Other products contributed the remaining 9 percent, highlighting the company’s strong focus on glass packaging solutions.
Within the glass containers segment, alcoholic beverages accounted for 75 percent of revenue, making them the largest contributor. Food and beverages contributed 18 percent, while pharmaceuticals accounted for 7 percent. This revenue mix shows the company’s strong dependence on alcoholic beverage packaging, while also serving the food, beverage, and pharmaceutical industries.
Company Overview:
AGI Greenpac Limited is an Indian packaging solutions company engaged in the manufacturing of glass containers, caps and closures, and plastic packaging products. The company serves a wide range of industries, including alcoholic beverages, food and beverages, pharmaceuticals, cosmetics, and personal care. It operates seven manufacturing plants, providing a strong production network to meet customer requirements.
Shareholding Pattern
In September 2026, AGI Greenpac Limited had a majority stake held by the promoters at 60.39 percent, foreign institutional investors at 6.01 percent, domestic institutional investors at 0.92 percent, government at 0.01 percent, and the public at 32.65 percent.
Ace investor Ashish Dhawan holds a 4.79 percent stake in AGI Greenpac Limited, valued at Rs. 202.1 crores, consisting of 31 lakh shares.
Also Read: Infosys Finacle expands Canadian footprint as UNI Financial Cooperation deploys Universal Banker across all branches
Annual Performance of FY26
AGI Greenpac Limited’s revenue has increased from Rs. 2,529 crore in FY25 to Rs. 2,665 crore in FY26, which has grown by 5.38 percent. The net profit has also grown by 9.32 percent from Rs. 322 crore in FY25 to Rs. 352 crore in FY26.
AGI Greenpac Limited’s standalone revenue and net profit have grown at a CAGR of 16 percent and 32 percent, respectively, over the last five years. In terms of return ratios, the company's ROCE and ROE stand at 19.5 percent and 15.8 percent, respectively. AGI Greenpac Limited’s debt-to-equity ratio is 0.17x.