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Cosmo Films’ PAT increases 85% in Q1 FY2022

Aug 11, 2021
Cosmo Films’ PAT increases 85% in Q1 FY2022

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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