AGI Greenpac Ltd.
|BSE: 500187||Sector: Industrials|
|NSE: AGI||ISIN Code: INE415A01038|
|BSE 00:00 | 26 May||217.15||
|NSE 00:00 | 26 May||216.80||
|Mkt Cap.(Rs cr)||1,405|
|Mkt Cap.(Rs cr)||1404.96|
AGI Greenpac Ltd. (AGI) - Chairman Speech
Company chairman speech
There are no shortcuts to excellence
We are in the midst of a global pandemic that has impacted millions ofpeople resulted in the loss of hundreds of thousands of lives and caused deepdisturbance across the globe. No business whether big or small has been able to avoidthe impact of the sweeping pandemic and the subsequent lockdowns which crippled globaltrade in FY 2020-21 the residual fallout of which continues to impinge on global supplychains.
The pandemic tested the resilience of business models of corporatesacross the globe. Many went for a complete overhaul while others opted for shortinterventions. But only those with a robust core and agile enough to recalibrate couldwithstand the far-reaching impact of the pandemic. The other thing that emerged out of thepandemic was the opportunity to rethink and rejig examine opportunities to reallocateresources in areas that would allow maximum growth adopt new technologies and lookclosely at sustainability practices.
THE PANDEMIC EFFECT
For us at HSIL we rediscovered the strengths of our employees. It wastheir hard work and dedication along with our longstanding relationship withinstitutional customers and suppliers that saw us through one of the most difficultchallenges to our business.
By the beginning of FY 2020-21 we were aware that the COVID-19pandemic would have an unsettling impact. Despite the Government of India implementing anumber of measures to limit the spread of the disease most non-essential businesses wereshut down. Our operations too were affected both directly and indirectly as many of oursuppliers suspended their operations. However our glass manufacturing plants werecategorised under 'essential category' and were operational albeit at a lower capacityutilisation.
Throughout the rapidly evolving situation our primary concern was andit still is the health and safety of our workforce. We have taken multiple steps acrossour plants and offices to protect our employees their families and the communities inwhich we operate. We have also initiated a programme to inoculate our employees and theirfamilies reinforcing our commitment of prioritising the health and well-being of ourpeople. And I am proud to say today that we have managed to pull through the crisistogether. We have not only posted strong results but have also emerged with a new sense ofpurpose.
We have demonstrated a strong financial performance during the year including solid fundamentals growth and increased shareholder value whichyou will see reflected throughout this report. The growth was volume-driven with thePackaging Products business contributing more than 65% of the revenues on the back of thestrong demand for our glass containers across multiple segments.
Our flexible business model higher operational efficiencies and betterproduct mix made it possible for us to continue to operate profitably through thesedifficult and uncertain times.
Dedicated to improving our environment social and governance (ESG)performance and setting benchmarks for the industry we are reducing our carbon footprintacross operations and ensuring sustainability across the life cycle of our products.
Sustainability is an integral part of everything we do. We havedeployed various sustainability programmes to reduce emissions save energy and'revaluate' waste. Our motto is to deliver exceptional business results to all ourstakeholders while advancing a positive environmental and social impact. Our unwaveringcommitment to governance excellence compliance and ESG performance is overseen by ourBoard of Directors.
EMPOWERING OUR PEOPLE
We provide a work environment that is inclusive enabling andcollaborative. The reason we were able to work efficiently during the pandemic is becausewe invested time in charting clear goals and strategies for our Company and empowered ourpeople to make decisions. At the same time we spent time and resources on coachingrecognising merit and hard work and adopting digital tools that would enhancecollaboration.
In the days ahead we will continue to provide our people with themoral boost necessary to take the lead in fulfilling goals.
GIVING BACK TO OUR COMMUNITIES
Since the beginning of our journey we've been an ally for ourcommunities in their times of need including during health crises and natural disasters.During the year we undertook several initiatives to promote various campaigns underhealthcare hygiene and sanitation education skill development amongst others. Acutelyaware of how the pandemic was impacting the education of school children particularlythose who belong to underprivileged communities and had no way to catch up on the classesthat had shifted online we ran the 'Phone Uthao Class Chalao' campaign. Under thiscampaign we provided students with smartphones to help them bridge the digital divide.
We also partnered with a leading non-profit organisation committed tothe welfare of underprivileged children to drive the campaign which ensured continuity inlearning at home.
SUSTAINING OUR EXCELLENCE
For us excellence is a journey without full stop. During thisdifficult year it was our sustained commitment to excellence be it in operations incost optimisation or technology adoption that helped us withstand the challenges. Oursingle-minded focus on quality and getting better at everything we do has helped usdeliver robust returns to our stakeholders. This quest for excellence will continue and Iam sure it will propel the Company onto a trajectory of higher growth and thus sustainits ability to deliver excellent returns.
I take this opportunity to thank our employees the Board of Directorsbankers and lenders government authorities and most importantly our shareholders whohave been part of this exciting journey. I am hopeful that they will continue to reposetheir trust in us.
Dr Rajendra Kumar Somany
Chairman and Managing Director