New Delhi
Cosmo Films Limited – one of the
leaders in specialty films for packaging, lamination, labelling and synthetic
paper – declared its financial results for the quarter ended June 2021 with 53%
increase in EBITDA due to higher speciality sales (20% growth), better
operating margins and great performance by subsidiaries.
Cosmo Films Limited earned a net
revenue of Rs. 6.88 billion, together with marginal reduction in overall tax
rate led to an increase of 85% in PAT. Expected capacity expansion (Specialized
Polyester line), focus towards growing specialty sales, diversification into
specialty chemicals, FMCG business, etc. would drive further growth in coming
years. Credit rating agency CRISIL has upgraded Company’s long-term credit
rating during the quarter to AA- and short-term credit rating to A1+ with a
stable outlook.
Pankaj Poddar, CEO, Cosmo Films Ltd
said that, the company is enhancing its specialty films portfolio and has
launched multiple innovative products, making the product pipeline even
stronger. Sustainability is at the core and Cosmo is continuously reducing its
carbon footprint while helping brands on more sustainable packaging. He added
that they are also ready for pilot launch of pet care in Q2FY22 under the brand
name “Zigly†which will be a unique value proposition with omni-channel
presence for pet parents.
Established in 1981 and founded by Ashok
Jaipuria, Cosmo Films today is a global leader
in specialty films for packaging, lamination, labelling and synthetic paper.
Its customer base is spread in more than 100 countries with sales and
manufacturing units in India and Korea and additionally sales and distribution
base in Japan, USA, Canada and Europe.
Source: Outlook
Image
Source: Google Images
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