Updated: May 22, 2021 15:55 First
New Delhi, (Delhi), [India]May 22 (ANI/Newswire): Cosmo Films Ltd., a global leader in packaging, labeling, lamination and films for synthetic paper and an emerging player in specialty chemicals, polymers and pet care, has announced its financials for the quarter and year ended today. Results declared. March 2021.
During FY2011, PAT has more than doubled (up 110 per cent over FY2010) due to higher specialty sales, better operating margins and increased performance of subsidiaries. FY21 ROCE and ROE are at 22 per cent and 30 per cent respectively while EPS has increased by 115 per cent (vs PY) to Rs 127 per share. Net debt of Rs 438 crore is close to 1 times EBITDA.
Q4 results are even stronger than the first 3 quarters of the year, driven by continued special films growth in Indian as well as overseas operations.
Commenting on the company’s performance, Pankaj Poddar, CEO, Cosmo Films Ltd. said, “Cosmo Films is a name globally for innovative, innovative solutions. Sales of exclusive films have grown in the last 3 years and in FY21. The growth rate has exceeded 20 per annum. The base reaffirms the company’s growth strategy through continuous investments in R&D, sales and marketing, employee practices, quality and customer satisfaction, even as the base grows with each passing year. The significant share of specialty films in the overall sales has created a strong foundation for Cosmo and will help the company to perform well even in tough times.
On the expansion front, the construction of the special BOPET line has started and is going as per plan despite significant COVID related challenges. The internal consumption of Matterbatch is increasing continuously and external sales will start soon. The company has successfully completed the development of several textile chemical products with specific USPs. These are currently under testing with textile manufacturers and processors. The commercial launch will take place in H1FY22. The Pet Care pilot launch will commence in Q2 of FY22 under the brand name “Zigly” and will provide unique value proposition to pet parents across various channels.”
Established in 1981 and founded by Ashok Jaipuria, Cosmo Films is today a global leader in packaging, lamination, labeling and specialty films for synthetic paper. Engineering innovative products and fixture solutions, Cosmo Films has been partnering with the world’s leading F&B and personal care brands and packaging and printing converters over the years to enhance the ultimate consumer experience. Its customer base spans over 100 countries with sales and manufacturing units in India and Korea and also a sales and distribution base in Japan, the US, Canada and Europe.
The company is strategically expanding beyond films into specialty chemicals and polymers as well as the pet care business.
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