New Delhi, (Delhi), [India], May 22 (ANI/NewsVoir): 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 and year ended March 2021.
During FY21, PAT has more than doubled (110 per cent up from FY20) on the back of higher speciality sales, better operating margins, and uptick performance by subsidiaries. FY21 ROCE and ROE stands at 22 per cent and 30 per cent respectively while EPS increased by 115 per cent (vs PY) to Rs 127 per share. Net debt at Rs 438 crores is close to 1 times to EBITDA.
Results for Q4 are even stronger than the first 3 quarters of the year driven by continued specialty films growth in Indian as well as overseas operations.
Commenting on Company's performance Pankaj Poddar, CEO, Cosmo Films Ltd. said, "Cosmo Films is a name to reckon globally for newer, innovative solutions. The specialty films sales have grown YoY in the last 3 years and growth rate in FY21 surpassed 20 per cent 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 Company do well even in the tougher times.
On expansion front, construction of specialized BOPET line has started and is running as per plan even with significant Covid related challenges. The internal consumptions for Materbatch is growing continuously and the external sales will start soon. The Company has successfully completed development of several textile chemical products, each with specific USPs. These are currently under trials with textile manufacturers and processors. Commercial launch would follow in H1FY22. Pet care pilot launch will start in Q2 FY22 under the brand name "Zigly" and will provide unique value proposition to Pet Parents across different channels."
Established in 1981 and founded by 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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