Cosmo Films Limited achieves a record performance

Asian News International

Cosmo Films Limited, a global leader in films for packaging, labelling, lamination and synthetic paper, and an emerging player in specialty chemicals, polymers and pet care, has announced its financial results for the quarter and year ended March 2021. The company has reported an impressive 110 percent increase in PAT from the previous year, driven by higher specialty sales, better operating margins and improved performance from subsidiaries. ROCE and ROE for the same period stand at 22 percent and 30 percent respectively, with EPS increasing by 115 percent to Rs 127 per share. Net debt is close to 1 times EBITDA.

The results for Q4 are even more impressive than the first 3 quarters of the year, due to the continued growth in specialty films in Indian and overseas operations. Commenting on the company’s performance, Pankaj Poddar, CEO of Cosmo Films Ltd. said, “Cosmo Films is a name to be reckoned with globally for its innovative solutions. The specialty films sales have grown YoY in the last 3 years and the growth rate in FY21 surpassed 20 percent, despite the base becoming larger each passing year, reaffirming the Company’s growth strategy through continuous investment in R&D, Sales & Marketing, Employee practices, Quality and Customer satisfaction. The significant share of specialty films in the overall sales has made a strong foundation for Cosmo and will help the company do well even in tougher times.
On the expansion front, construction of a specialized BOPET line has started and is running as per plan, despite significant Covid-related challenges. The internal consumption of masterbatch is growing continuously and external sales will soon start. The company has successfully completed the development of several textile chemical products, each with specific USPs, which are currently under trial with textile manufacturers and processors. Commercial launch is expected in H1FY22. Pet care pilot launch will start in Q2 FY22 under the brand name ‘Zigly’ and will provide a unique value proposition to pet parents across different channels.”
Established in 1981 and founded by Ashok Jaipuria, Cosmo Films has become a global leader in specialty films for packaging, lamination, labeling and synthetic paper. Through engineering of innovative products and sustainability solutions, Cosmo Films has been partnering with leading F&B and personal care brands and packaging & printing converters to enhance the end consumer experience, with its customer base spread across more than 100 countries, with sales & manufacturing units in India and Korea, and additional sales & distribution bases in Japan, USA, Canada and Europe.
The company is strategically expanding beyond films into specialty chemicals & polymers, as well as pet care business.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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