New Delhi, 27 October 2021: Cosmo Films Limited, a Global Leader in Films for Packaging, Labelling, Lamination and Synthetic Paper and an emerging player in Specialty Chemicals, Polymers & Pet care today declared its financial results for the quarter ended September 2021.
Q2FY22 EBITDA has increased by 54% on the back of higher speciality sales (20%+ growth), better operating margins and uptick performance by subsidiaries. Enhanced EBITDA together with lower finance cost and lower effective tax rate led to increase in PAT by 83%.
Increase in EPS was still higher at 96% due to impact of buyback of shares in December 2020.
Specialized Polyester line and new BOPP line to be commissioned in Q1FY23 and FY25 respectively, focus towards growing specialty sales, diversification into specialty chemicals & Pet care would drive growth in coming years.
During the quarter, Company had announced 1st interim dividend of Rs.25 per share (equivalent to the full year dividend paid in the last financial year), which has been paid in Oct’21.
Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo Films Ltd. said “During the quarter, the Company launched its Pet Care brand “Zigly” with the opening of its first Experience Centre in Delhi, launch of mobile van service in NCR and launch of the e-commerce platform. These omni-channel offerings will provide unique convenience and value proposition to pet parents. Initial response is propitious and the Company plans to significantly expand its foot pint both in digital and offline (experience centers, stores and vans) over the coming quarters.”
The newly announced BOPP line will be the largest line and both BOPET and BOPP lines will allow Company to also expand its specialty sales. The Company has ordered/ ordering several other value added assets for further growth in the specialty sales.
Textile Chemicals production line is under commissioning, while the company continues to conduct extensive trials of its newly developed products.
The Company is working on several sustainability projects, which is bringing cost savings as well as making Cosmo a truly sustainable organisation.”
About Cosmo Films Limited
Established in 1981 and founded by Mr. Ashok Jaipuria, Cosmo Films today is a global leader in specialty films for packaging, lamination, labeling and synthetic paper. With engineering of innovative products and sustainability solutions, Cosmo Films over the years has been partnering with worlds’ leading F&B and personal care brands and packaging & printing converters to enhance the end consumer experience. Its customer base is spread in more than 100 countries with sales & manufacturing units in India and Korea and additionally sales & distribution base in Japan, USA, Canada and Europe.
The Company is strategically expanding beyond Films into Specialty Chemicals & Polymers as well as Pet care business.
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