AGI Greenpac Ltd

A Year of Strategic Progress

Dear Shareholders,

The year under review was a defining one for us, marked by our strongest-ever financial performance. This milestone was the result of operational discipline, responsible innovation, improved efficiency, and strategic investment, reinforcing our leadership as India's most profitable glass packaging products company.

Building on a Strong Foundation

FY 2024-25 was marked by cautious consumer spends, leading to overall sluggishness in consumption.

Despite these headwinds, we maintained resilience by focusing on cost efficiency, operational discipline, and staying closely aligned with our customers' needs. This approach enabled us to identify and capture growth opportunities effectively. The result is a 6.5% Y-o-Y growth in total income, reaching Rs. 2,604 crore during the year under review. EBITDA surged 17% to Rs. 689 crore, with margins expanding by a robust 290 bps to an all-time high of 27.2%, marking our best-ever performance. Profit After Tax (PAT) also rose by 28% to Rs. 322 crore, strengthening strong financial momentum.

Backed by this strong performance, the Board approved a dividend of Rs.7 per eguity share, reaffirming our commitment to consistent shareholder returns.

Operational Excellence

During the year under review, we demonstrated strong operational excellence, strategic foresight, and product innovation to support our long-term growth. With container plants operating at over 95% capacity utlisation, we successfully executed k our product portfolio expansion strategy, allowing us to cater to

evolving customer needs with greater speed and scale.

We undertook targeted debottlenecking across manufacturing facilities, augmenting capacities to meet rising customer demand and capitalise on India's growing consumption and packaging product needs.

Through continued innovation, we introduced lightweight designs that optimised raw material usage, improved freight efficiency, and reduced our carbon footprint enhancing both sustainability and customer value.

We also achieved balanced growth across our container and specialty glass segments, reflecting broad-based demand from FMCG, F&B, pharmaceuticals, and continued brand-led growth in premium beverages and personal care categories.

Trusted by Customers

Our strong customer relationships, built on trust, consistent product quality, and responsiveness to customer needs, continued to drive preference across domestic and international markets. With a customer-centric approach, we stayed attuned to evolving trends across our product segments, sustaining our competitive edge through tailored solutions.

In the container glass segment, we deepened our presence across the alcoholic and nonalcoholic beverage, FMCG, and pharmaceutical sectors in the domestic market, while expanding our export footprint. At the same time, we gained strong traction in premium segments such as cosmetics, perfumery, premium alcohol, and security closures, where design precision, aesthetics, and sustainability plays a defining role.

Innovation remained central to our differentiation strategy. In FY 202425, our teams developed 422 new product designs, of which over 30% were successfully commercialised, underscoring our focus on design- led, market-ready innovations.

These high-clarity, and customised solutions, developed for varied end- use categories, further strengthened our leadership in value-added glass packaging.

We are in the process of developing India's first domestically produced T-corks and stoppers in natural, synthetic, and micro-agglomerated variants. This strategic diversification is aimed at strengthening our position as an integrated packaging partner to our customers.

Sustainability and Shared Growth

We are committed to shaping a sustainable, future-ready organisation through setting clear ESG goals - targeting Net Zero emissions by 2050 and a significant reduction in our carbon footprint by 2030. Our environmental actions focus on decarbonisation, water stewardship, waste reduction, and advancing circularity.

During the year, we expanded our solar energy capacity to 19.56 MW, continuing our shift towards cleaner energy sources. We also strengthened Zero Liquid Discharge (ZLD) mechanisms across our manufacturing plants to ensure efficient water recovery and reuse.

A key area of progress has been our increased focus on cullet utilisation - recycling broken or waste glass into high-quality, reusable material. We currently recycle over 2 lakh tonnes of cullet annually and are targeting 50% cullet (internal+external) utilisation by 2027, a crucial step towards a circular economy. Furthering our sustainability commitments.

Environmental responsibility is embedded throughout our value chain and is supported by strong governance and adherence to recognised sustainability standards. During the year, our Bhongir plant earned the IGBC Platinum rating, and our R&D and lab facilities achieved NABL and ISO certifications.

Beyond environmental efforts, we continue to create long-term social impact through targeted interventions in education, healthcare, and skill development, improving the quality of life and fostering inclusive growth in the communities we serve. Our recently set up Bhongir Community Service Centre, a pioneering three-floor facility dedicated to holistic community development, is strategically located to serve the needs of Bhongir and its surrounding areas.

Our people power our progress.

We foster a culture of ownership, innovation, and growth·where collaboration thrives. Through targeted development initiatives and smart technology adoption, we nurture talent, inspire leadership, and build a future-ready, motivated workforce committed to collective success.

Digital Transformation

Digital transformation remained a key enabler of efficiency and agility across our operations. Advanced planning systems and real-time dashboards enhanced supply chain visibility, improved forecasting accuracy, and enabled faster, data-driven decisions. At the plant level, the use of predictive analytics in production planning, material management, and digital maintenance tools streamlined operations, driving consistency and operational excellence.

We also extended digitisation to key touchpoints for our people and partners. From recruitment to performance management, the entire employee lifecycle is now integrated on SAP, supporting greater transparency and productivity across HR processes.

Investing in the Future

As part of our long-term growth strategy, we announced a H 700 crore investment in a state-of-the- art greenfield manufacturing facility in Madhya Pradesh. With a planned capacity of 500 TPD, this state-of- the-art plant will expand our total production capacity by around 25%. This expansion will enable us to meet future demand with greater speed and scale. It also aligns with India's broader growth trajectory, strengthens customer proximity, and reinforces our readiness to serve rising consumption needs.

Alongside domestic expansion, we also established a new subsidiary,

Sun Reach Pack (FZE), in the United Arab Emirates to enhance international engagement and drive exports.

Together, these developments reflect our readiness to tap into emerging demand, both at home and abroad, with greater agility and scale.

Looking Ahead

We enter FY 2025-26 on the strength of meaningful progress and a sharp focus on growth. We aim to maintain our profitability trajectory by staying ahead of the curve through product leadership, cost competitiveness, and operational efficiency, creating long-term, sustainable value for all stakeholders.

I thank our shareholders for their continued trust, our bankers for their confidence, our employees for their commitment, our customers for their support, and our suppliers for their collaboration.